US Transcranial Magnetic Stimulator (TMS) Market Competition by Company, Country, Application/Type & Forecast to 2028 | MAG & More GmbH, MAG & More GmbH

The Transcranial Magnetic Stimulator (TMS) market was valued at US$ 309.53 million in 2020 and is projected to reach US$ 631.29 million by 2028; it is expected to grow at a CAGR of 9.4% from 2021 to 2028.

The major factors such as the growing prevalence of neurological disorders, increasing geriatric population and neurological disorders associated with age, and presence of well-established healthcare facilities drive the growth of the transcranial magnetic stimulator (TMS) market. However, the high cost of diagnostic and treatment restricts the market growth.

Company Profiles

• BrainsWay Ltd
• Nexstim
• Magstim
• Neuronetics
• TMS Neuro Solutions
• MagVenture, Inc.
• eNeura Inc.
• Neurosoft
• MAG & More GmbH

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Transcranial magnetic stimulator (TMS), also referred to as repetitive transcranial magnetic stimulator (rTMS), is a type of brain stimulation in which a changing magnetic field is applied to a specific area of the brain. An electromagnetic coil is placed against patient’s scalp near forehead during the rTMS session. It is a noninvasive procedure used for diagnostic and therapeutic applications.

The COVID-19 pandemic has broadly interrupted biomedical treatment and research, including noninvasive brain stimulation (NIBS). Moreover, the rapid onset of societal disruption and evolving regulatory restrictions may not have allowed for systematic planning of how clinical and research work may continue throughout the pandemic or be restarted as restrictions are abated. During NIBS procedures, it is often impossible to maintain the recommended physical distance, at least for some time. For instance, applying electrodes for tES or adjusting the position of TMS coils requires direct contact between the person using NIBS and the person receiving NIBS. Moreover, the companies operating in the TMS market have faced a massive loss due to the COVID-19 pandemic. For instance, according to a second-quarter report of Brainsway Ltd., total revenue for the second quarter of 2020 is $4.8 million, which is deceased by 15% as the revenue for the second quarter of 2019 was $5.7 million.

US Transcranial Magnetic Stimulator (TMS) – Market Segmentation

By Type

• Single or Paired Pulse TMS
• Repetitive TMS (rTMS)

By Age Group

• Adults
• Children

By Application

• Research
• Diagnostic
• Therapeutic

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This release was published on openPR.