Transcranial Magnetic Stimulation System Market

The global transcranial magnetic stimulation system market accounted for USD 3.11 billion in 2023 and is estimated to reach USD 8.05 billion by 2034 with a CAGR of 9.04% during the forecast period 2024-2034. The market will increase as a result of factors such as the rising prevalence of neurological and psychiatric disorders, the growing demand for non-invasive treatments, technological advancements in TMS systems, growing public awareness and supportive reimbursement policies, and government initiatives and funding support.

The prevalence of neurological and mental conditions, including schizophrenia, depression, anxiety disorders, Parkinson's disease, and Alzheimer's disease, has significantly increased. The demand for TMS systems is fueled by the fact that TMS provides a non-invasive and generally safe therapy alternative for various disorders. For instance, Magstim introduced the Magstim Stimulator Plus in 2023, a new model of their well-known rTMS stimulator with faster pulse delivery and better ergonomics.

By application, the depression treatment segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulation system market in 2023 owing to the increasing prevalence of depression, growing awareness about TMS therapy's efficacy, and favorable reimbursement policies. For instance, Neuronetics stated in November 2023 that new treatment protocols for depression and other psychiatric diseases would be included to its NeuroStar Advanced Therapy platform. Additionally, the pain management segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of non-invasive treatments, increasing research on pain management applications of TMS, and expanding patient pool with chronic pain conditions.

By technology, the repetitive transcranial magnetic stimulation (rTMS) segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulation system market in 2023 owing to the growing demand for non-invasive treatment options for neurological and psychiatric disorders, extensive clinical validation, and technological advancements enhancing treatment efficacy. For instance, in December 2023, Nexstim reported the conclusion of patient enrollment in its phase III clinical trial assessing intermittent Theta Burst Stimulation (iTBS) therapy for depression. Additionally, the deep transcranial magnetic stimulation (dTMS) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption for treatment-resistant depression, expanding applications in various neurological disorders, and technological advancements improving treatment precision and efficacy.

By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulation system market in 2023 owing to the increasing prevalence of neurological and psychiatric disorders, rising demand for advanced treatment options, and availability of specialized healthcare facilities. For instance, in October 2023, Brainsway announced the introduction of a novel non-invasive deep transcranial magnetic stimulation (dTMS) technology for the treatment of major depressive disorder (MDD). Additionally, the clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of outpatient treatment options, expanding availability of TMS therapy in clinical settings, and growing patient preference for convenient healthcare services.

North American region is anticipated to have the highest revenue share during the forecast period owing to the strong presence of key market players, favorable reimbursement policies, advanced healthcare infrastructure, and increasing adoption of innovative medical technologies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness about mental health issues, increasing prevalence of neurological disorders, expanding healthcare infrastructure, and growing investments in medical research and development. For instance, in February 2022, Axilum robots announced FDA approval for its TMS-Cobot System, which combines robots and TMS to provide precise and fast therapy delivery.

This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.

Report Scope:

• Base Year: 2023
• Forecast Period: 2024-2034
• Study Coverage
• Market Forecast by Application, Technology, and End-User
• Market Forecast for 5 Regions and 17+ Countries
• North America (U.S. and Canada)
• Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
• Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
• Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
• MEA (South Africa, GCC, Rest of MEA)
• Exhaustive Company Profiles of the Top 10+ Major Market Players

Segmentation: Transcranial Magnetic Stimulation System Market Report 2023 - 2034

Transcranial Magnetic Stimulation System Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)

• Depression Treatment
• Neurological Disorders
• Pain Management
• Research

Transcranial Magnetic Stimulation System Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)

• Single Pulse TMS
• Repetitive TMS (rTMS)
• High-frequency rTMS
• Low-frequency rTMS
• Theta Burst Stimulation (TBS)
• Deep TMS (dTMS)
• Others

Transcranial Magnetic Stimulation System Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)

• Hospitals
• Clinics
• Research Institutes
• Ambulatory Surgical Centers (ASCs)
• Rehabilitation Centers

Transcranial Magnetic Stimulation System Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of LATAM
• Middle East & Africa
• South Africa
• GCC
• Rest of MEA