What Has Been the Growth Trajectory for the Transcranial Magnetic Stimulator Market in Recent Years?
The transcranial magnetic stimulator market has seen considerable growth due to a variety of factors.
•The market size for transcranial magnetic stimulators has been steadily increasing in the past few years. It is projected to escalate from $1.29 billion in 2024 to $1.4 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%.
Factors such as market competition, regulatory modifications, clinical validation, adoption of the market, and enhancements in healthcare infrastructure can be credited for the growth experienced in the historic period.
How Does the Forecast Look for the Transcranial Magnetic Stimulator Market?
The transcranial magnetic stimulator market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for transcranial magnetic stimulators is anticipated to experience robust expansion in the coming years, reaching a value of "$2.04 billion by 2029 at a compound annual growth rate (CAGR) of 9.9%.
The growth forecast for this period can be linked to factors like increased investment and funding, adaption in healthcare, a competitive market environment, and market expansion. The major trends predicted to influence this sector during the forecast period are the emphasis on clinical research, a rise in the awareness of mental health, changes in regulation, a surge in demand for non-invasive therapy options, and ongoing technology advancements.
What Are the Critical Driver Fuelling the Transcranial Magnetic Stimulator Market's Growth?
The growth of the transcranial magnetic stimulator market is anticipated to be propelled by the rising occurrences of neurological disorders. Transcranial magnetic stimulation (TMS) has displayed significant potential in the treatment of various neurological and psychiatric ailments. This novel method is utilized in the management of a range of neurological conditions like stroke, spasticity, migraine, dementia, and mobility disorders. For example, in March 2023, a Switzerland-based international affairs body, WHO, reported that around 280 million people across the globe were battling depression. Further, data from the National Institute of Mental Health (NIMH), a federal agency based in the US, stated in January 2022, that 66% of US adults aged 18 or above with major depressive symptoms received treatment in 2021. In addition, a December 2022 study by the Parkinson's Foundation, a non-profit organization based in the US, projected that the count of individuals with Parkinson's disease (PD) is predicted to rise to 1.2 million by 2030, a rise from 930,000 in 2020. Hence, the escalating incidence of neurological diseases is projected to fuel the expansion of the transcranial magnetic stimulator market.
How Is the Transcranial Magnetic Stimulator Market segmented?
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
Subsegments:
1) By Deep Transcranial Magnetic Stimulator (dTMS): Systems With FDA Approval, Non-Invasive Systems, Clinical Applications
2) By Repetitive TMS (rTMS): High-frequency rTMS, Low-frequency RTMS, Clinical Applications
3) By Other Types: Theta Burst Stimulation (TBS), Single Pulse TMS, Other Emerging Technologies
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What New Trends Are Influencing the Transcranial Magnetic Stimulator Market?
The emergence of product innovations is a key trend taking the transcranial magnetic stimulator market by storm. Firms in this sector are resorting to cutting-edge technologies to solidify their market standing. For instance, MagVenture Inc., a medical equipment manufacturer based in the US, unveiled the MagVenture TMS Atlas Neuro Navigation System in March 2023. This technology enhances the accuracy and efficacy of transcranial magnetic stimulator coil placement with a dependable, user-friendly, and time-efficient workflow. The Atlas system, aside from offering heightened precision for clinical purposes, also assures increased mobility for the operator during TMS treatments as it removes any line-of-sight issues. Patients can see a visual representation of their MRI scan and live updates of the treatment coil's location relative to their head, which fosters greater engagement in the treatment process, thanks to its sophisticated technology.
Who Are the Key Players in the Transcranial Magnetic Stimulator Market?
Major companies operating in the transcranial magnetic stimulator market include:
• BrainsWay Ltd.
• Nexstim Plc.
• The Magstim Company Limited
• Neuronetics Inc.
• TMS Neuro Solutions
• MagVenture Inc.
• eNeura Inc.
• MAG & More GmbH
• neurocare group AG
• Axilum Robotics
• Salience TMS Neuro Solutions
• Terumo BCT Inc.
• Neurosoft
• BrainsGate Ltd.
• NeuroStar Advanced Therapy
• Neuroelectrics
• Yiruide Neurotech
• Rhythmia Medical
• CloudTMS
• Pulse TMS
• Neuronavigation
• MagPro Magnetics A/S
• BrainSight
• MindMaze
• NeuroConn GmbH
• Neurofield Inc.
• Neurotargeting LLC
• Neuro-Fit Systems Inc.
What Is The Most Dominant Region In The Transcranial Magnetic Stimulator Market?
North America was the largest region in the transcranial magnetic stimulator market in 2024.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
