Overview and Scope
Transcranial magnetic stimulators (TMS) are non-invasive medical devices that employ magnetic waves to activate neurons in the nervous system in order to alleviate symptoms of depression. Transcranial magnetic stimulator (TMS) devices are used to activate neurons in the nervous system in order to alleviate symptoms of depression and other mental health and brain-related diseases.
Sizing and Forecast
The transcranial magnetic stimulator market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.32 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to competitive market dynamics, market adoption, regulatory changes, clinical validation, healthcare infrastructure development.
The transcranial magnetic stimulator market size is expected to see strong growth in the next few years. It will grow to $1.86 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to investment and funding, healthcare adoption, competitive landscape, market expansion. Major trends in the forecast period include clinical research, increased mental health awareness, regulatory changes, rising demand for non-invasive therapies, technological evolution.
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Segmentation & Regional Insights
The transcranial magnetic stimulator market covered in this report is segmented –
1) By Type: Deep Transcranial Magnetic Stimulator (dTMS), Repetitive TMS (rTMS), Other Types
2) By Age: Children, Adults
3) By Application: Parkinson’™s Disease, Depression, Alzheimer’™s Disease, Epilepsy, Other Applications
North America was the largest region in the transcranial magnetic stimulator market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global transcranial magnetic stimulator market report during the forecast period. The regions covered in the transcranial magnetic stimulator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing prevalence of neurological diseases is expected to drive the growth of the transcranial magnetic stimulator market. Transcranial magnetic stimulation (TMS) has shown promising results in treating various neurological and psychiatric illnesses. It is a new technique used to treat various neurological conditions such as stroke, spasticity, migraine, dementia, and movement disorders. For instance, in March 2023, WHO, a Switzerland-based international affairs body, stated that approximately 280 million people worldwide suffered from depression. Also, in January 2022, according to the National Institute of Mental Health (NIMH), a US-based federal agency, 66% of US adults aged 18 or older with major depressive episodes received treatment in 2021. Furthermore, in December 2022, a study by Parkinson’s Foundation, a US-based non-profit organization, revealed that the number of people living with Parkinson’s disease (PD) is estimated to increase to 1.2 million by 2030, up from 930,000 in 2020. Therefore, the increasing prevalence of neurological diseases is expected to propel the growth of the transcranial magnetic stimulator market.
Key Industry Players
Major companies operating in the transcranial magnetic stimulator market report are BrainsWay Ltd., Nexstim Plc., The Magstim Company Limited, Neuronetics Inc., TMS Neuro Solutions, MagVenture Inc., eNeura Inc., MAG & More GmbH, neurocare group AG, Beckman Coulter Inc., Axilum Robotics, Salience TMS Neuro Solutions, Terumo BCT Inc., Neurosoft, BrainsGate Ltd., NeuroStar Advanced Therapy, Neuroelectrics, Yiruide Neurotech, Rhythmia Medical, Magstim TMS, CloudTMS, Pulse TMS, Neuronavigation, MagPro Magnetics A/S, BrainSight, MindMaze, NeuroConn GmbH, Neurofield Inc., Neurotargeting LLC, Neuro-Fit Systems Inc.
The transcranial magnetic stimulator market report table of contents includes:
1. Executive Summary
2. Transcranial Magnetic Stimulator Market Characteristics
3. Transcranial Magnetic Stimulator Market Trends And Strategies
4. Transcranial Magnetic Stimulator Market – Macro Economic Scenario
5. Global Transcranial Magnetic Stimulator Market Size and Growth
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31. Global Transcranial Magnetic Stimulator Market Competitive Benchmarking
32. Global Transcranial Magnetic Stimulator Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Transcranial Magnetic Stimulator Market
34. Transcranial Magnetic Stimulator Market Future Outlook and Potential Analysis
35. Appendix
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