The Transient Ischemic Attack Market is Poised to Register Substantial Growth by 2031

A transient ischemic attack (TIA), also called a mini-stroke, is a brief episode of symptoms similar to those of a stroke, but without permanent damage. TIAs are caused by a temporary disruption in blood flow to the brain, usually lasting for a few minutes. Some common symptoms of a TIA include sudden numbness or weakness, especially on one side of the body, confusion or difficulty speaking or understanding speech, trouble seeing with one or both eyes, dizziness, and loss of balance or coordination. TIAs indicate an increased risk of having a major stroke and should be taken very seriously. Rapid diagnosis and treatment can help prevent permanent disability.

The Global Transient Ischemic Attack Market is estimated to be valued at USD 1.34 Bn in 2024 and is expected to reach USD 2.03 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

Key Takeaways

Key players operating in the transient ischemic attack market are Medtronic plc, Boston Scientific Corporation, Cordis Corporation, Abbott Laboratories, Koninklijke Philips N.V., GE Healthcare, Stryker Corporation, Siemens Healthineers AG.

Major players are focusing on new product development and launches to strengthen their market position. Rising awareness regarding symptoms of Transient Ischemic Attack Market Demand and availability of diagnostic testing and treatment options present significant growth opportunities in the market. Key players are expanding their presence globally, especially in developing economies to tap the growth potential.

Key players operating in the transient ischemic attack market are Medtronic plc, Boston Scientific Corporation, Cordis Corporation, Abbott Laboratories, Koninklijke Philips N.V., GE Healthcare, Stryker Corporation, Siemens Healthineers AG. These players are investing heavily in R&D activities to develop innovative diagnostic solutions and treatment options. For instance, in 2020, Medtronic received FDA approval for its Aurora Peripheral Balloon Catheter used for treating peripheral lesions.

The growing awareness regarding symptoms of TIAs and availability of diagnostic testing presents significant growth opportunities for players in the market. Rising economic conditions in developing countries are allowing more people to avail advanced healthcare facilities. This is encouraging international players to expand their presence in emerging markets. For example, in 2022, Siemens Healthineers collaborated with Max Healthcare to strengthen stroke care in India.

Market Drivers and Restraints

The rising prevalence of cardiovascular diseases such as heart attacks and strokes globally is a major factor driving the growth of the transient ischemic attack market. As per the World Health Organization (WHO), cardiovascular diseases are the leading cause of deaths worldwide. Growing geriatric population and increasing adoption of sedentary lifestyles have significantly increased the risk of strokes.

Adoption of advanced diagnostic technologies for accurate and quick diagnosis of TIAs is another key factor fueling market growth. Technologies such as MRI/CT imaging and ultrasound help physicians better assess and treat conditions causing TIAs. In addition, growing awareness about the importance of early diagnosis and preventive measures to avoid major strokes augurs well for the market.

However, high cost of advanced diagnostic procedures and equipment is a major restraint for the transient ischemic attack market. Most healthcare systems in developing nations do not provide sufficient insurance coverage for expensive stroke prevention and treatment therapies. Shortage of specialized healthcare professionals especially neurologists to handle TIA cases could also hamper market growth.

Segment Analysis

The global transient ischemic attack market can be segmented on the basis of diagnosis, treatment type and geography. Based on diagnosis, the market is segmented into CT scan, MRI, carotid ultrasound. CT scan holds the largest share as it is the most common and preliminary test used to diagnose TIA. Based on treatment type, the market is segmented into antiplatelet therapy, anticoagulation therapy, neuroprotective drugs and others. Antiplatelet therapy dominates the market with maximum share as antiplatelets are the standard first-line treatment for most cases of TIA to prevent further stroke. It works by inhibiting platelet aggregation and reducing risk of blood clots.

Global Analysis

Regionally, North America holds the largest share in the global transient ischemic attack market due to rising geriatric population, high healthcare expenditures, availability of sophisticated diagnostic technologies and aggressive strategies adopted by key players. However, Asia Pacific region is expected to witness highest growth due to growing patient awareness, increasing healthcare expenditure and rapidly developing healthcare infrastructure in emerging economies such as India and China. The region also has a large geriatric population base which is more prone to TIA. In addition, growth opportunities will also emerge in Latin America and Middle East & Africa regions with rising focus of major players towards developing countries.

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Author Bio:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)