Global Transcranial Magnetic Stimulator Market Size 2024, Forecast To 2033
6 Mar, 2024
The transcranial magnetic stimulator market has demonstrated strong growth, increasing from $1.2 billion in 2023 to $1.32 billion in 2024, with a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period is attributed to competitive market dynamics, market adoption, regulatory changes, clinical validation, and healthcare infrastructure development. Moving forward, the market is expected to continue its strong growth, reaching $1.86 billion in 2028, with a slightly lower CAGR of 9.0%. The forecast period will be characterized by factors such as investment and funding, healthcare adoption, competitive landscape, and market expansion. Key trends in this period include increased focus on clinical research, heightened awareness of mental health, regulatory changes, a rising demand for non-invasive therapies, and continuous technological evolution.
Global Transcranial Magnetic Stimulator Market Key Driver
The transcranial magnetic stimulator market is anticipated to witness growth driven by the increasing prevalence of neurological diseases. Transcranial magnetic stimulation (TMS) has emerged as a promising technique for treating various neurological and psychiatric conditions, including depression, stroke, spasticity, migraine, dementia, and movement disorders. According to WHO in March 2023, approximately 280 million people globally suffer from depression. The National Institute of Mental Health (NIMH) reported in January 2022 that 66% of US adults with major depressive episodes received treatment in 2021. Furthermore, a study by the Parkinson's Foundation in December 2022 revealed that the number of people living with Parkinson's disease is estimated to increase to 1.2 million by 2030, up from 930,000 in 2020. This increasing prevalence of neurological diseases positions the transcranial magnetic stimulator market for substantial growth.
Get A Free Sample Of The Global Transcranial Magnetic Stimulator Market ReportGlobal Transcranial Magnetic Stimulator Market Segments
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
By Geography:The regions covered in the transcranial magnetic stimulator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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
Major Transcranial Magnetic Stimulator Industry Players
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.
Get The Full Global Transcranial Magnetic Stimulator Market ReportTranscranial Magnetic Stimulator Market Overview
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.
Transcranial Magnetic Stimulator Global Market Report 2023 provides data on the global transcranial magnetic stimulator market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The transcranial magnetic stimulator market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.