Transcranial Magnetic Stimulator - Market Insights, Competitive Landscape, and Market Forecast - 2030

The global transcranial magnetic stimulation (TMS) market was valued at USD 1.13 billion in 2023, growing at a CAGR of 9.19% during the forecast period from 2024 to 2030 to reach USD 1.91 billion by 2030. The demand for transcranial magnetic stimulation (TMS) is primarily being boosted by the increasing patient population suffering from various neurological diseases such as Alzheimer's Disease and Parkinson's disease among others, as the surge in cases of psychiatric comorbidities such as bipolar disorder, obsessive-compulsive disorder, and others, rising awareness regarding mental health, rise in many smokers, growing preference for non-invasive treatment methods, and innovation in product development among others, thereby contributing to the overall growth of the transcranial magnetic stimulation (TMS) market during the forecast period from 2024-2030.

Transcranial Magnetic Stimulation (TMS) Market Dynamics:

The continuous rise in cases of psychiatric comorbidities such as depression, obsessive-compulsive disorder, and others is driving the growth of the transcranial magnetic stimulation (TMS) market. As per the data published by World Health Organization (WHO) in 2022, worldwide around 970 million people which makes 1 in every 8 people were living with a mental disorder in 2019. The source further stated that anxiety and depressive disorders with anxiety affecting 301 million people including 58 million children and adolescents were the most common mental disorders in 2019 globally.

As per the above-mentioned source worldwide around 280 million people making up 3.8% of the global population including 23 million children and adolescents were suffering from depression in 2019.

The source mentioned above further stated that worldwide 40 million people experienced bipolar disorder in 2019 and 40 million people, including children and adolescents, were living with conduct-dissocial disorder in 2019.

The prevalence of several neurological disorders is on the rise which can have a positive impact on the transcranial magnetic stimulation (TMS) market. According to WHO 2022, worldwide around 8.5 million people had Parkinson’s disease (PD) in 2019 and as per the same source, PD lead to 5.8 million disability-adjusted life years. Patients suffering from neurological disorders such as Parkinson's, Alzheimer's disease, and others can get benefit from TMS therapy.

However, side effects associated with TMS therapy and the presence of other alternative stimulation therapies may restrict the growth of the transcranial magnetic stimulation (TMS) market.

Transcranial Magnetic Stimulation (TMS) Market Segment Analysis:

Transcranial Magnetic Stimulation (TMS) Market by 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), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the type segment of the transcranial magnetic stimulation (TMS) market, the deep transcranial magnetic stimulator (dTMS) category is expected to amass a significant revenue share in the year 2023. This can be ascribed to the advantages and applications associated with deep transcranial magnetic stimulator (dTMS) effective treatment of neuropsychiatric disorders.

By stimulating the deeper, wider regions of the brain, Deep TMS offers non-invasive, innovative, and effective treatment for numerous mental health conditions including concussions, PTSD, depression, OCD, anxiety, addiction, and more.

The direct activation of H-coils in dTMS enables the magnetic pulses to target specific brain regions without significantly increasing the strength of the magnetic field which helps minimize side effects and negative consequences of the treatment.

Patients with MDD whose symptoms have not improved despite trying various treatments may get relief from deep TMS which offers risk-free and favorable results over antidepressants.

The side effects such as nausea, weight gain, infertility, drowsiness, chronic diarrhea, dry mouth, rash, or memory loss associated with the use of antidepressant drugs are eliminated with the utilization of deep TMS.

Therefore, owing to the above-mentioned factors, the deep transcranial magnetic stimulator (dTMS) category is expected to register significant growth, thereby driving the growth of the overall transcranial magnetic stimulation (TMS) market during the forecast period.

North America is expected to dominate the overall Transcranial Magnetic Stimulation (TMS) Market:

Among all the regions, North America is estimated to account for the largest share of the transcranial magnetic stimulation (TMS) market in the year 2023. Owing to the significance of key growth factors such as the rising prevalence of neurological disorders, increasing cases of psychiatric disorders, high disposable income, sophisticated healthcare infrastructure, presence of key players, increasing product development activities, and others, the market for transcranial magnetic stimulation (TMS) is expected to witness prosperity in the region during the forecast period 2022-2028.

According to the National Institute of Mental Health (NIMH) 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.

The above-mentioned source further stated that around 21.0 million adults had at least one major depressive episode in 2020 in the United States.

Another factor contributing to the growth of the TMS market is the continued rise in the number of individuals involved in smoking. For instance, as per the Centers for Disease Control and Prevention 2022, approximately 40 million people smoke cigarettes in the US. As per the same source, every day nearly 1,600 US youth aged 18 years or younger smoke their first cigarette.

Coupled with the factors mentioned above, the increasing interest of product manufacturers in the region also helps in boosting regional product demand. For instance, in August 2020, BrainsWay Ltd., a global leader in the advanced non-invasive treatment of brain disorders, 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.

Such measures help in gaining the market share for the manufacturers as well as benefit end users in terms of better product pricing from the competition standpoint, thereby driving the North America transcranial magnetic stimulation (TMS) market forward during the forecast period.

Transcranial Magnetic Stimulation (TMS) Market Key Players:

Some of the key market players operating in the transcranial magnetic stimulation (TMS) 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.

Recent Developmental Activities in the Transcranial Magnetic Stimulation (TMS) Market:

• In January 2023, Magstim, a global leader in neuroscience research and transcranial magnetic stimulation (TMS) solutions for mental health, 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 March 2020, Neuronetics, Inc., a commercial-stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from psychiatric disorders, announced that the US Food and Drug Administration (FDA) has recently granted Breakthrough Device Designation for the Company’s NeuroStar Advanced Therapy System for the treatment of bipolar depression.

Key Takeaways from the Transcranial Magnetic Stimulation (TMS) Market Report Study

• Market size analysis for current transcranial magnetic stimulation (TMS) market size (2023), and market forecast for 6 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the transcranial magnetic stimulation (TMS) market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global transcranial magnetic stimulation (TMS) market.
• Various opportunities available for the other competitor in the transcranial magnetic stimulation (TMS) market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current transcranial magnetic stimulation (TMS) market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for transcranial magnetic stimulation (TMS) market growth in the coming future?
• Target Audience who can be benefited from this Transcranial Magnetic Stimulation (TMS) Market Report Study
• Transcranial Magnetic Stimulation (TMS) products providers
• Research organizations and consulting companies
• Transcranial Magnetic Stimulation (TMS) -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in transcranial magnetic stimulation (TMS)
• Various End-users who want to know more about the transcranial magnetic stimulation (TMS) market and the latest technological developments in the transcranial magnetic stimulation (TMS) market.

Frequently Asked Questions for the Transcranial Magnetic Stimulation (TMS) Market:

1. What is meant by transcranial magnetic stimulation (TMS)?

Transcranial magnetic stimulation (TMS) which involves the application of powerful magnetic fields to particular areas of the brain is safe, non-invasive, and powerful technique indicated for the treatment of various psychiatric and neurological disorders.

2. What is the market for global transcranial magnetic stimulation (TMS)?

The global transcranial magnetic stimulation (TMS) market was valued at USD 1.13 billion in 2023, growing at a CAGR of 9.19% during the forecast period from 2024 to 2030 to reach USD 1.91 billion by 2030.

3. What are the drivers for the global transcranial magnetic stimulation (TMS) market?

The demand for transcranial magnetic stimulation (TMS) is primarily being boosted by the increasing patient population suffering from various neurological diseases such as Alzheimer's Disease and Parkinson's disease among others, as the surge in cases of psychiatric comorbidities such as bipolar disorder, obsessive-compulsive disorder, and others, rising awareness regarding mental health, rise in several smokers, and others, thereby contributing to the overall growth of the transcranial magnetic stimulation (TMS) market during the forecast period from 2024-2030.

4. Who are the key players operating in the global Transcranial Magnetic Stimulation (TMS) market?

Some of the key market players operating in the transcranial magnetic stimulation 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.

5. Which region has the highest share in the transcranial magnetic stimulation (TMS) market?

North America is expected to dominate the overall transcranial magnetic stimulation (TMS) market during the forecast period from 2024-2030. Owing to the factors such as the rising prevalence of neurological disorders, increasing cases of psychiatric disorders, high disposable income, sophisticated healthcare infrastructure, regulatory approval for new products, and high awareness among others, the North America transcranial magnetic stimulation (TMS) market is expected to grow in coming years.


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