The global transcranial magnetic stimulator market accounted for USD 1.30 billion in 2023 and is expected to reach USD 4.73 billion by 2034 with a CAGR of 12.42% during the forecast period 2024-2034. The market will grow as a result of factors such as the increasing prevalence of neurological and psychiatric disorders, the benefits of TMS therapy, the growing use of TMS in psychiatry, technological advancements, and advantageous reimbursement policies.
The market is growing as a result of ongoing technological developments in TMS devices, such as the creation of more accurate and effective stimulation protocols, enhanced coil designs, and the launch of guided TMS systems. These developments increase patient comfort, shorten treatment durations, and improve treatment outcomes, which broadens the range of applications for TMS therapy. For instance, the FDA authorized the NeuroStar Advanced Therapy for Mental Health transcranial magnetic stimulation device in July 2022 to treat major depressive disorder patients' anxiety symptoms.
By type, the repetitive transcranial magnetic stimulator segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulator market in 2023 owing to the growing acceptance of its effectiveness in treating various neurological and psychiatric disorders, such as depression, anxiety, and other, driving increased adoption by healthcare providers and patients alike. For instance, Neuronetics, Inc. announced that NBS 6, a new generation of guided transcranial magnetic stimulation software, will be available in the United States starting in April 2023. Additionally, the deep transcranial magnetic stimulator segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for its ability to penetrate deeper brain regions, enhancing its effectiveness in treating conditions like depression, obsessive-compulsive disorder (OCD), and addiction, among others.
By application, the Alzheimer's disease segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulator market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of Alzheimer's disease globally and the increasing adoption of transcranial magnetic stimulation (TMS) as a non-invasive treatment option for cognitive symptoms associated with the disease. For instance, in March 2023, MagVenture A/S received FDA permission for its time-saving coil positioning technology, the MagVenture TMS Atlas Neuro Navigation technology.
By age group, the adult segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulator market in 2023 owing to the increasing prevalence of neurological and psychiatric disorders among the adult population and the expanding applications of transcranial magnetic stimulation (TMS) therapy for various conditions affecting this demographic. For instance, eNeura reported in November 2022 that the release of positive data from the pivotal study of its TMS therapy for acute migraine had been published. Additionally, the children segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness about pediatric neurological and psychiatric disorders, coupled with the growing adoption of transcranial magnetic stimulation (TMS) as a safe and effective treatment option for conditions such as ADHD, autism spectrum disorders, and pediatric depression.
By end-user, the hospitals and clinics segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulator market in 2023 owing to the increased adoption of transcranial magnetic stimulation (TMS) devices for both diagnostic and therapeutic purposes, along with the growing prevalence of neurological and psychiatric disorders treated in hospital and clinic settings. For instance, in October 2023, Neurosoft and a group of European research institutes collaborated to carry out a clinical study examining the application of rTMS for the treatment of chronic pain. Additionally, the research institutions segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding research activities in neuroscience and mental health, driving the demand for transcranial magnetic stimulation (TMS) devices for experimental studies and clinical trials.
North American region is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, increasing prevalence of neurological disorders, growing acceptance of transcranial magnetic stimulation (TMS) therapy, and significant investments in research and development. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding healthcare infrastructure, rising awareness about neurological disorders, increasing adoption of innovative medical technologies like transcranial magnetic stimulation (TMS), and growing investments in mental health initiatives. For instance, in April 2023, Nexstim plc made available NBS 6, a new software generation designed for guided transcranial magnetic stimulation (TMS) systems, in the US. The latest version, NBS 6, simplifies the usage of Nexstim's own E-field-guided TMS technology more than ever.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The market is growing as a result of ongoing technological developments in TMS devices, such as the creation of more accurate and effective stimulation protocols, enhanced coil designs, and the launch of guided TMS systems. These developments increase patient comfort, shorten treatment durations, and improve treatment outcomes, which broadens the range of applications for TMS therapy. For instance, the FDA authorized the NeuroStar Advanced Therapy for Mental Health transcranial magnetic stimulation device in July 2022 to treat major depressive disorder patients' anxiety symptoms.
By type, the repetitive transcranial magnetic stimulator segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulator market in 2023 owing to the growing acceptance of its effectiveness in treating various neurological and psychiatric disorders, such as depression, anxiety, and other, driving increased adoption by healthcare providers and patients alike. For instance, Neuronetics, Inc. announced that NBS 6, a new generation of guided transcranial magnetic stimulation software, will be available in the United States starting in April 2023. Additionally, the deep transcranial magnetic stimulator segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for its ability to penetrate deeper brain regions, enhancing its effectiveness in treating conditions like depression, obsessive-compulsive disorder (OCD), and addiction, among others.
By application, the Alzheimer's disease segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulator market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the growing prevalence of Alzheimer's disease globally and the increasing adoption of transcranial magnetic stimulation (TMS) as a non-invasive treatment option for cognitive symptoms associated with the disease. For instance, in March 2023, MagVenture A/S received FDA permission for its time-saving coil positioning technology, the MagVenture TMS Atlas Neuro Navigation technology.
By age group, the adult segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulator market in 2023 owing to the increasing prevalence of neurological and psychiatric disorders among the adult population and the expanding applications of transcranial magnetic stimulation (TMS) therapy for various conditions affecting this demographic. For instance, eNeura reported in November 2022 that the release of positive data from the pivotal study of its TMS therapy for acute migraine had been published. Additionally, the children segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness about pediatric neurological and psychiatric disorders, coupled with the growing adoption of transcranial magnetic stimulation (TMS) as a safe and effective treatment option for conditions such as ADHD, autism spectrum disorders, and pediatric depression.
By end-user, the hospitals and clinics segment accounted for the highest revenue-grossing segment in the global transcranial magnetic stimulator market in 2023 owing to the increased adoption of transcranial magnetic stimulation (TMS) devices for both diagnostic and therapeutic purposes, along with the growing prevalence of neurological and psychiatric disorders treated in hospital and clinic settings. For instance, in October 2023, Neurosoft and a group of European research institutes collaborated to carry out a clinical study examining the application of rTMS for the treatment of chronic pain. Additionally, the research institutions segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding research activities in neuroscience and mental health, driving the demand for transcranial magnetic stimulation (TMS) devices for experimental studies and clinical trials.
North American region is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, increasing prevalence of neurological disorders, growing acceptance of transcranial magnetic stimulation (TMS) therapy, and significant investments in research and development. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding healthcare infrastructure, rising awareness about neurological disorders, increasing adoption of innovative medical technologies like transcranial magnetic stimulation (TMS), and growing investments in mental health initiatives. For instance, in April 2023, Nexstim plc made available NBS 6, a new software generation designed for guided transcranial magnetic stimulation (TMS) systems, in the US. The latest version, NBS 6, simplifies the usage of Nexstim's own E-field-guided TMS technology more than ever.
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 Type, Application, Age Group, 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
- 20% Free Customization Available to Meet Your Exact Requirement
Segmentation: Transcranial Magnetic Stimulator Market Report 2023 - 2034
Transcranial Magnetic Stimulator Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Deep Transcranial Magnetic Stimulator
- Repetitive Transcranial Magnetic Stimulator
- Others
Transcranial Magnetic Stimulator Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Alzheimer’s disease
- Depression
- Disease
- Epilepsy
- Others
Transcranial Magnetic Stimulator Market Analysis & Forecast by Age Group 2023 - 2034 (Revenue USD Bn)
- Adults
- Children
Transcranial Magnetic Stimulator Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals and Clinics
- Research institutions
- Others
Transcranial Magnetic Stimulator 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
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Transcranial Magnetic Stimulator Market: Type Estimates & Trend Analysis
8. Transcranial Magnetic Stimulator Market: Application Estimates & Trend Analysis
9. Transcranial Magnetic Stimulator Market: Age Group Estimates & Trend Analysis
10. Transcranial Magnetic Stimulator Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Transcranial Magnetic Stimulator Market
13. Europe Global Transcranial Magnetic Stimulator Market
14. Asia Pacific Global Transcranial Magnetic Stimulator Market
15. Latin America Global Transcranial Magnetic Stimulator Market
16. MEA Global Transcranial Magnetic Stimulator Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Magstim Company Ltd.
- Neuronetics Inc.
- Brainsway Ltd.
- Neurosoft Ltd.
- Nexstim Plc
- Yiruide
- Axilum Robotics
- eNeura Inc.
- MagVenture A/S
- Dr. Langer Medical GmbH
- Beijing NCC Medical Co. Ltd.
- RemissioNeru Technologies Pvt. Ltd.
- CloudTMS Ltd.
- Mag & More GmbH
- MST SRL.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 1.3 Billion |
| Forecasted Market Value ( USD | $ 4.73 Billion |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
