Transcranial Magnetic Stimulators Market Development Trends & Competitive Analysis by Leading Industry Players - Universla Biologicals, Perkin Elmer, Maxvision Biosciences
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Transcranial magnetic stimulator devices consist of a coil and a system for analyzing and detection of the effects of the therapy. The coils used in TMS equipment are of different materials such as a coil made up of magnetically inert material (air-core design) or a magnetically active material (solid-core design), depending upon the variations and biophysical characteristics required.
Single or paired pulse TMS and repetitive TMS (rTMS) are the two types of transcranial magnetic stimulation techniques. The single or paired pulse TMS is currently the most widely adopted technique; however, promising results of the rTMS technique for treatment of various psychiatry disorders and rising clinical studies proving the efficiency of the technique are expected to drive the rTMS stimulators segment in the next few years. Applications of transcranial magnetic stimulators include research, diagnostics, and therapeutics. Diagnostic applications include evaluation of the effects of diseases such as stroke, multiple sclerosis, and other neurological diseases on the brain.
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Therapeutic applications of transcranial magnetic stimulators include treatment of treatment-resistant major depression, migraine, obsessive compulsive disorder (OCD), schizophrenia, and post-traumatic stress, among other psychiatry diseases. Various clinical trials are under way for the application of transcranial magnetic stimulation technique in the treatment and diagnosis of other major diseases affecting the brain.
Major factors expected to drive the transcranial magnetic stimulators market during the forecast period are rising prevalence of neurological disorders including schizophrenia and other disorders, surging geriatric population leading to increasing brain disorders associated with age, growing applications of the transcranial magnetic stimulation technique in diagnosis and treatment of neurological disorders, favorable reimbursements, and new and technologically advanced products introduced by manufacturers such as neuro-navigating stimulators in the global market. However, clinically proven high efficiency of electroconvulsive therapy in the treatment of psychotic depression and rising number of patients adopting the therapy is likely to be one of the major restraints of the transcranial magnetic stimulators market during the forecast period.
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In terms of region, the global transcranial magnetic stimulators market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global transcranial magnetic stimulators market from 2017 to 2025, owing to factors such as a large patient population suffering from depression and other psychological and neurological disorders, growing number of devices receiving regulatory approvals, rising demand for new and advanced stimulators, and favorable reimbursement policies. According to Centers of Disease Control and Prevention (CDC) statistics, an estimated 3.5 million to 4 million people in the U.S. alone were suffering from treatment-resistant depression.
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There has been increasing collaborations and partnerships in the global market between companies and research universities for the advancement of the devices and technology along with widening the scope of applications of the transcranial magnetic stimulators. This along with increasing approvals present wide opportunities for the market players operating in the region. However, rising incidence of psychological disorders in Asia Pacific, increasing health care expenditure, and rising demand for new techniques for the treatment of these disorders are expected to augment the transcranial magnetic stimulators market in Asia Pacific from 2017 to 2025.
Key players operating in the global transcranial magnetic stimulators market include Axilum Robotics, Mastigm, Nexstim plc, Neuronetics, Inc., Brainsway Ltd., and TMS Neuro Solutions.
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