Transcranial Magnetic Stimulator Global Market Report 2024

The transcranial magnetic stimulator market 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 expansion observed in the historical period can be ascribed to the competitive dynamics of the market, the adoption of market trends, changes in regulations, validation through clinical processes, and the development of healthcare infrastructure.

The transcranial magnetic stimulator market 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 anticipated expansion in the forecast period can be credited to investment and funding, the adoption of healthcare practices, the competitive landscape, and market expansion. Key trends expected in the forecast period encompass clinical research, heightened awareness of mental health, regulatory changes, a growing demand for non-invasive therapies, and technological advancements.

The growth of the transcranial magnetic stimulator market is expected to be fueled by the increasing prevalence of neurological diseases. Transcranial magnetic stimulation (TMS) has demonstrated promising outcomes in the treatment of various neurological and psychiatric disorders, offering a novel approach to addressing conditions such as stroke, spasticity, migraine, dementia, and movement disorders. For example, in March 2023, the World Health Organization (WHO) reported that approximately 280 million people worldwide were affected by depression. Additionally, as of January 2022, the National Institute of Mental Health (NIMH), a US-based federal agency, indicated that 66% of US adults aged 18 or older with major depressive episodes received treatment in 2021. Furthermore, a study conducted by the Parkinson's Foundation in December 2022 revealed that the number of individuals living with Parkinson's disease (PD) is projected to increase to 1.2 million by 2030, up from 930,000 in 2020. Hence, the growing prevalence of neurological diseases is anticipated to drive the growth of the transcranial magnetic stimulator market.

The expansion of the transcranial magnetic stimulator market is also expected to be influenced by the global aging population. Population aging, characterized by a rise in the median age due to declining birth rates and increased life expectancy, has prompted interest in transcranial magnetic stimulation as a means to enhance cognitive function among older adults. Research suggests that targeted stimulation of specific brain regions has the potential to improve memory, attention, and executive functions in aging populations. For instance, as of October 2022, the World Health Organization projected that by 2030, 1 in 6 people worldwide would be aged 60 or over, totaling 1.4 billion. Additionally, by 2050, this demographic is expected to double to 2.1 billion, with the number of those aged 80 or older tripling to 426 million. Therefore, the global aging population serves as a driver for the transcranial magnetic stimulator market.

The expected rise in the prevalence of schizophrenia is set to drive the growth of the transcranial magnetic stimulator market. Schizophrenia, characterized by symptoms such as hallucinations, delusions, disordered speech, and abnormal behavior, is a mental condition where transcranial magnetic stimulation (TMS) has emerged as a promising therapeutic option. Over the past 15 years, research has consistently supported the use of TMS as a safe and effective technique for addressing both positive and negative symptoms of schizophrenia. As of January 2022, a report from the World Health Organization indicated that approximately 24 million individuals globally, or one in every 300 people (0.32%), are affected by schizophrenia. Despite this prevalence, only 31.3% of patients with psychosis receive specialized mental health treatment, even though nearly 50% of individuals in mental institutions carry a diagnosis of schizophrenia. People with schizophrenia face a two to three times higher likelihood of premature mortality compared to the general population. Consequently, the increasing prevalence of schizophrenia is anticipated to drive the growth of the transcranial magnetic stimulator market.

An influential trend gaining traction in the transcranial magnetic stimulator market is product innovation. Companies within the market are adopting new technologies to maintain their competitive positions. For example, in March 2023, MagVenture Inc., a US-based medical equipment manufacturer, introduced the MagVenture TMS Atlas Neuro Navigation System. This system enhances transcranial magnetic stimulator coil positioning through a time-saving, high-precision workflow that is both reliable and user-friendly. The Atlas system provides high precision and accuracy for clinical use, offering operators a greater range of movement during TMS treatments by eliminating line-of-sight concerns. It utilizes advanced technology to provide patients with a visual representation of their MRI scan and real-time tracking of the treatment coil to their head position, enabling their active participation in the procedure.

Leading companies in the transcranial magnetic stimulator market are driving revenues through the development of innovative technologies, including advanced transcranial magnetic stimulation. Advanced Transcranial Magnetic Stimulation (TMS) is a non-invasive brain stimulation technique that applies rapidly changing magnetic fields to the cerebral cortex's surface. For instance, in September 2022, YINGCHI, a China-based manufacturer of transcranial magnetic stimulation systems, launched the TMS 3D Navigation System - Quick Vision. This system employs high-precision infrared optical capture technology to visualize the focused magnetic field of the stimulation on the personalized brain's anatomical image. It offers millimeter-level accuracy in tracking and locating the TMS equipment coil, enhancing the effectiveness and efficiency of diagnosis and treatment through rapid TMS target localization.

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.

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. The countries 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.

The primary types of transcranial magnetic stimulators include deep transcranial magnetic stimulators (dTMS), repetitive TMS (rTMS), and other variations. Deep Transcranial Magnetic Stimulator (dTMS) is a specific type of transcranial magnetic stimulation (TMS) therapy utilizing magnetic fields to stimulate nerve cells in the brain, effectively addressing symptoms of depression. This form of therapy is applicable to both children and adults and finds use in diverse applications such as Parkinson's disease, depression, Alzheimer's disease, epilepsy, and more.

The transcranial magnetic stimulator market research report provides transcranial magnetic stimulator market statistics, including transcranial magnetic stimulator industry global market size, regional shares, competitors with a transcranial magnetic stimulator market share, detailed transcranial magnetic stimulator market segments, market trends and opportunities, and any further data you may need to thrive in the transcranial magnetic stimulator industry. This transcranial magnetic stimulator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The transcranial magnetic stimulator market consists of sales of single-pulse and paired-pulse transcranial magnetic stimulators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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