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Transcranial Magnetic Stimulator Market: Size, Trends, and Growth Outlook Analysis
The Business Research Company recently released a comprehensive report on the Global Transcranial Magnetic Stimulator Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.According to The Business Research Company's, 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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Market Drivers and Trends:
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.
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.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
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.
Transcranial Magnetic Stimulator Market 2024 Key Insights:
• The transcranial magnetic stimulator market will grow to $1.86 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
• Rising Prevalence Of Neurological Diseases Drives Expansion Of Transcranial Magnetic Stimulator Market
• Innovative Advancements Revolutionizing Transcranial Magnetic Stimulation With Cutting-Edge Technologies
• North America was the largest region in the transcranial magnetic stimulator market in 2023
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