The global Transcranial Magnetic Stimulator Market was valued at USD 1,134.61 million in 2022 and growing at a CAGR of 9.19% during the forecast period (2023 to 2028); it is expected to reach USD 1,917.05 million by 2028. Some of the key factors such as the rising patient population suffering from various neurological diseases, rising awareness regarding mental health, rise in many smokers, growing preference for non-invasive treatment methods, and innovation in product development among others, are expected to drive the Transcranial Magnetic Stimulator Market growth in the coming years. The leading Transcranial Magnetic Stimulator companies in the market include BrainsWay, Nexstim, Magstim, Neuronetics, Salience, MagVenture, Inc., Axilum Robotics, Brainbox Ltd., EB Neuro S.p.A., eNeura Inc., Neurosoft, MAG & More GmbH, Soterix Medical Inc., Magnus Medical, NEUROPREX INC., and others.
DelveInsight’s “Transcranial Magnetic Stimulator Market Insight, Competitive Landscape and Market Forecast 2028” research report provides the current and forecasted Transcranial Magnetic Stimulator market size, share, and trends analysis for the next five years. Moreover, it highlights the ongoing innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.
Transcranial Magnetic Stimulator Market: Overview
Transcranial magnetic stimulation (TMS) involves the application of powerful magnetic fields to particular areas of the brain and is a safe, non-invasive, and powerful technique indicated for the treatment of various psychiatric and neurological disorders.
To provide a better understanding of the market dynamics, DelveInsight’s “Transcranial Magnetic Stimulator Market” report provides an in-depth assessment of the market by product type (Deep Transcranial Magnetic Stimulator (dTMS), Repetitive Transcranial Magnetic Stimulator (rTMS), and others), application in therapeutics segment (Alzheimer’s Disease, Obsessive Compulsive Disorder (OCD), Bipolar Depression, and Others), age group (adults and children), and geography (North America, Europe, Asia-Pacific, and rest of the world).
As per DelveInsight’s assessment, in the type segment of the transcranial magnetic stimulation (TMS) market, the deep transcranial magnetic stimulator (dTMS) category is expected to dominate the market in terms of revenue owing to the advantages and applications associated with deep transcranial magnetic stimulator (dTMS) effective treatment of neuropsychiatric disorders.
Transcranial Magnetic Stimulator Market Analysis
The Transcranial Magnetic Stimulator Market is expanding owing to the rise in mental comorbidities like depression and obsessive-compulsive disorder. As per the WHO, in 2022, 1 in every 8 people globally, or over 970 million people, were living with a mental condition in 2019. Moreover, the two most prevalent mental disorders in 2019 were anxiety and depressive disorders, with anxiety impacting 301 million people worldwide, including 58 million children and adolescents. In 2019, about 280 million people making up 3.8% of the global population including 23 million children and adolescents were suffering from depression. The number of cases of various mental disorders is expected to rise in the upcoming years, thereby leading to a higher demand for Transcranial Magnetic Stimulators.
However, Transcranial Magnetic Stimulator therapy has some side effects associated with it and the presence of other alternative stimulation therapies is expected to hamper the transcranial magnetic stimulation (TMS) market in the upcoming years.
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Transcranial Magnetic Stimulator – Global Market Assessment and Forecast
Among all the regions, North America is estimated to dominate the overall transcranial magnetic stimulation (TMS) market. The rising prevalence of neurological disorders and increasing cases of psychiatric disorders are expected to drive the demand for Transcranial Magnetic stimulators in North America. According to the National Institute of Mental Health (NIMH) in 2022, about 52.9 million people, which stands for 21% of the population, experienced mental illness in 2020 in the United States. As per the same source 14.2 million people experienced serious mental illness in the United States in 2020.
Moreover, the high disposable income, the number of individuals involved in smoking, sophisticated healthcare infrastructure, the presence of key players, increasing product development activities, and others, are also expected to contribute immensely to the transcranial magnetic stimulation (TMS) market growth during the forecast period 2022-2028. The increasing interest of product manufacturers in the region also helps in boosting regional product demand.
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Transcranial Magnetic Stimulator Market – Key Developments and Breakthroughs
Over the years, the Transcranial Magnetic Stimulator market has evolved significantly, owing to the active participation of global MedTech companies and technological advancements in the domain. Similarly, several clinical, commercial, and regulatory developments have also been registered in the domain.
Some of the major advancements in the Transcranial Magnetic Stimulator market in recent years include –
- In January 2023, Magstim announced that it has received US FDA clearance for its Horizon 3.0 (with or without StimGuide+) and E-z Cool Coil to treat adult patients diagnosed with obsessive-compulsive disorder (OCD) as well as major depressive disorder (MDD).
- In August 2020, BrainsWay Ltd. announced that it has received 510(k) clearance from the US Food and Drug Administration (FDA) for the Company’s deep transcranial magnetic stimulation (Deep TMS) system for its use as an aid in short-term smoking cessation in adults.
- In March 2020, Neuronetics, Inc., announced that the US Food and Drug Administration (FDA) has granted Breakthrough Device Designation for the company’s NeuroStar Advanced Therapy System for the treatment of bipolar depression.
Learn more about major clinical and commercial development in the market @ Transcranial Magnetic Stimulator Market – Clinical and Commercial Development Activities
Key Companies in the Transcranial Magnetic Stimulator Market
Globally, some of the leading MedTech giants working in the Transcranial Magnetic Stimulator market include BrainsWay, Nexstim, Magstim, Neuronetics, Salience, MagVenture, Inc., Axilum Robotics, Brainbox Ltd., EB Neuro S.p.A., eNeura Inc., Neurosoft, MAG & More GmbH, Soterix Medical Inc., Magnus Medical, NEUROPREX INC., and others. Owing to the rising demand and favorable growth opportunities for revenue generation, several new players are anticipated to enter the market, thereby leading to high competitiveness in the domain.
Learn how new players’ entries will transform the market dynamics in the coming years @ Transcranial Magnetic Stimulator Competitive Landscape
Scope of the Transcranial Magnetic Stimulator Market Report:
- Study Period – 2020-2028
- Geography Covered – North America, Europe, Asia-Pacific, and Rest of the World
- Transcranial Magnetic Stimulator Market Assessment –
-
- By Product Type – Deep Transcranial Magnetic Stimulator (dTMS), Repetitive Transcranial Magnetic Stimulator (rTMS), and Others
- Application – Alzheimer’s Disease, Obsessive Compulsive Disorder (OCD), Bipolar Depression, and Others
- Age Group – Adults and Children
- Geography – North America, Europe, Asia-Pacific, and Rest of the World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s Views
Table of Content
| 1 | Report Introduction |
| 2 | Executive Summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Transcranial Magnetic Stimulator Market Key Factors Analysis |
| 5 | Transcranial Magnetic Stimulator Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on the Transcranial Magnetic Stimulator Market |
| 7 | Transcranial Magnetic Stimulator Market Layout |
| 8 | Transcranial Magnetic Stimulator Global Company Share Analysis – Key 3–5 Companies |
| 9 | Transcranial Magnetic Stimulator Product Profiles and Key Companies |
| 10 | Project Approach |
| 11 | KOL Views |
| 12 | DelveInsight Capabilities |
| 13 | Disclaimer |
| 14 | About DelveInsight |
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