Transient ischemic attack (TIA), also known as mini stroke or warning stroke, is a condition characterized by brief episodes of symptoms similar to stroke which occurs due to a temporary disruption in blood flow to the brain. TIA is caused due to plaque buildup in the arteries that supply blood to the brain. Common symptoms of TIA include sudden numbness or weakness in the face, arm or leg, confusion and trouble speaking or understanding speech. TIA indicates an increased risk of stroke and early diagnosis and treatment help prevent disability caused by stroke. The growing geriatric population is more prone to developing cardiovascular disorders such as TIA owing to increasing serum cholesterol, hypertension, obesity and diabetes, thus driving the need for effective treatment of TIA.
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 operating in the Transient Ischemic Attack are Medtronic, Stryker, Johnson & Johnson, Abbott, Boston Scientific, Becton, Dickinson and Company, Terumo Corporation.The key opportunities in the Transient Ischemic Attack Market include rising demand for minimally invasive treatment procedures. Also, increasing healthcare expenditure in emerging economies provides scope for market expansion.Global expansion of the Transient Ischemic Attack market will be propelled by growing awareness regarding early diagnosis and treatment of TIA to prevent stroke, rising geriatric population worldwide and increasing collaboration between market players and healthcare organizations to expand market reach.
Market driversThe increasing geriatric population globally is the major driver boosting the Transient Ischemic Attack market. According to the UN report, the population aged 60 years and above is expected to reach 2.1 billion by 2050 from 1 billion in 2020. The elderly are more prone to cardiovascular disorders and cerebrovascular issues including TIA. This increases the risk of stroke leading to growing demand for effective management of TIA. Thus, rising geriatric demography significantly contributes to the market growth.
PEST Analysis
Political: The healthcare policies and regulations play a key role in shaping the transient ischemic attack market. Regulations regarding quality of care, diagnostic testing and approvals of new drugs could impact the market landscape.
Economic: Factors such as average healthcare spending, disposable income levels and reimbursement policies impact the overall spending on transient ischemic attack treatments. The availability of funds with public and private organizations also determines the market growth.
Social: As the lifestyle-related risk factors for strokes are on the rise, there is growing awareness regarding early detection and treatment of TIA. Social campaigns promoting healthy lifestyle and adequate care-seeking can positively influence the market.
Technological: Advancements in imaging technology, diagnostic devices and integrated software solutions enable improved diagnosis and management of TIA. Development of novel drugs with minimal side-effects also enhances treatment outcomes. biomarkers are being explored for improved risk-assessment as well.
The North American region represents the largest market for transient ischemic attack globally, in terms of value. This is due to factors such as high healthcare expenditure, strong healthcare infrastructure and widespread medical insurance. The United States accounts for the major share within the region.The Asia Pacific region shows high growth potential for the transient ischemic attack market over the forecast period. This is attributed to rapidly improving healthcare facilities, increasing healthcare spending, growing medical tourism and expanding patient pool within the developing economies of China and India. Rising awareness regarding early disease management also supports the regional market growth.
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