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Transcranial Magnetic Stimulator Market 2024 Growth Analysis, Trends, Share, Size And Forecast To 2033
Transcranial Magnetic Stimulator Market
Transcranial Magnetic Stimulator Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1.86 billion In 2028 At A CAGR Of 9.0% :
The transcranial magnetic stimulator market size has grown strongly in recent years. It will grow from $1.2 billion in 2023 to $1.32 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to competitive market dynamics, market adoption, regulatory changes, clinical validation, healthcare infrastructure development.
The transcranial magnetic stimulator market size is expected to see strong growth in the next few years. It will grow to $1.86 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to investment and funding, healthcare adoption, competitive landscape, market expansion. Major trends in the forecast period include clinical research, increased mental health awareness, regulatory changes, rising demand for non-invasive therapies, technological evolution.
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Transcranial Magnetic Stimulator Market Major Segments
The transcranial magnetic stimulator market covered in this report is segmented -
1) By Type: Deep Transcranial Magnetic Stimulator (dTMS), Repetitive TMS (rTMS), Other Types
2) By Age: Children, Adults
3) By Application: Parkinson's Disease, Depression, Alzheimer's Disease, Epilepsy, Other Applications
Key Driver - Rising Prevalence Of Neurological Diseases Drives Expansion Of Transcranial Magnetic Stimulator Market
The increasing prevalence of neurological diseases is expected to drive the growth of the transcranial magnetic stimulator market. Transcranial magnetic stimulation (TMS) has shown promising results in treating various neurological and psychiatric illnesses. It is a new technique used to treat various neurological conditions such as stroke, spasticity, migraine, dementia, and movement disorders. For instance, in March 2023, WHO, a Switzerland-based international affairs body, stated that approximately 280 million people worldwide suffered from depression. Also, in January 2022, according to the National Institute of Mental Health (NIMH), a US-based federal agency, 66% of US adults aged 18 or older with major depressive episodes received treatment in 2021. Furthermore, in December 2022, a study by Parkinson's Foundation, a US-based non-profit organization, revealed that the number of people living with Parkinson's disease (PD) is estimated to increase to 1.2 million by 2030, up from 930,000 in 2020. Therefore, the increasing prevalence of neurological diseases is expected to propel the growth of the transcranial magnetic stimulator market.
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Prominent Trend - Innovative Advancements Revolutionizing Transcranial Magnetic Stimulation With Cutting-Edge Technologies
Product innovations are a key trend gaining popularity in the transcranial magnetic stimulator market. Companies operating in the transcranial magnetic stimulator market are adopting new technologies to sustain their position in the market. For instance, in March 2023, MagVenture Inc., a US-based medical equipment manufacturer, introduced the MagVenture TMS Atlas Neuro Navigation System. This system optimizes transcranial magnetic stimulator coil positioning with a time-saving, high-precision workflow that is reliable and easy to use. It provides high precision and accuracy for clinical use. Atlas provides the operator with a greater range of movement during TMS treatments by eliminating line-of-sight concerns. It uses advanced technology to provide patients with a visual depiction of their MRI scan as well as real-time tracking of the treatment coil to their head position, allowing them to be more involved in the procedure.
Transcranial Magnetic Stimulator Market Players
Major companies operating in the transcranial magnetic stimulator market report are BrainsWay Ltd., Nexstim Plc., The Magstim Company Limited, Neuronetics Inc., TMS Neuro Solutions, MagVenture Inc., eNeura Inc., MAG & More GmbH, neurocare group AG, Beckman Coulter Inc., Axilum Robotics, Salience TMS Neuro Solutions, Terumo BCT Inc., Neurosoft, BrainsGate Ltd., NeuroStar Advanced Therapy, Neuroelectrics, Yiruide Neurotech, Rhythmia Medical, Magstim TMS, CloudTMS, Pulse TMS, Neuronavigation, MagPro Magnetics A/S, BrainSight, MindMaze, NeuroConn GmbH, Neurofield Inc., Neurotargeting LLC, Neuro-Fit Systems Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the transcranial magnetic stimulator market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global transcranial magnetic stimulator market report during the forecast period. The regions covered in the transcranial magnetic stimulator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Transcranial Magnetic Stimulator Market Report Structure
3. Transcranial Magnetic Stimulator Market Trends And Strategies
4. Transcranial Magnetic Stimulator Market - Macro Economic Scenario
5. Transcranial Magnetic Stimulator Market Size And Growth
…..
27. Transcranial Magnetic Stimulator Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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