Press release
Transcranial Magnetic Stimulator Market Set to Reach $2.04 Billion by 2029 with 10% Yearly Growth
Transcranial Magnetic Stimulator Market Size
The rising incidence of neurological disorders is projected to be a significant factor in the expansion of the transcranial magnetic stimulator market. Transcranial magnetic stimulation (TMS) has been beneficial in the treatment of a wide range of neurological and psychiatric conditions. This novel method has shown effectiveness against various neurological problems like stroke, spasticity, migraine, dementia, and movement disorders. For example, the Switzerland-based international body, WHO, reported in March 2023 that about 280 million people around the globe were experiencing depression. Also, as per the US federal agency, the National Institute of Mental Health (NIMH), in January 2022, 66% of US adults aged 18 and above who had major depressive episodes received treatment in 2021. Moreover, in December 2022, a research conducted by the US non-profit organization, Parkinson's Foundation, projected that the population living with Parkinson's disease (PD) will rise to 1.2 million by 2030, from 930,000 in 2020. Therefore, the rising incidence of neurological disorders is likely to boost the expansion of the transcranial magnetic stimulator market.
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What growth opportunities are expected to drive the transcranial magnetic stimulator market's CAGR through 2034?
In recent times, there has been a significant expansion in the size of the transcranial magnetic stimulator market. According to forecasts, the market is expected to increase from $1.29 billion in 2024 to $1.4 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.7%. The robust growth observed during the historic period can be ascribed to factors such as competitive market movements, the adoption rates of the market, changes in regulations, clinical validation, and the progress made in healthcare infrastructure.
In the coming years, the market for transcranial magnetic stimulators is set to experience robust growth. The market is projected to expand to "$2.04 billion by 2029, showing a compound annual growth rate (CAGR) of 9.9%. The predicted growth during the forecast period can be credited to factors such as investments and funding, adoption in the healthcare sector, a competitive market environment, and market broadening. Notable trends for the forecast period encompass clinical research, increasing awareness around mental health, regulatory shifts, a mounting demand for non-invasive treatments, and technological advancements.
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What are the emerging trends shaping the future of the transcranial magnetic stimulator market?
One significant trend emerging in the transcranial magnetic stimulator market is the focus on product innovations. To maintain their foothold in this market, firms are incorporating new technologies. For example, MagVenture Inc., a medical equipment producer based in the US, in March 2023, launched the MagVenture TMS Atlas Neuro Navigation System. This system enhances the positioning of the transcranial magnetic stimulator coil with a workflow that has high precision, is time-effective, user-friendly, and dependable. It has a high degree of precision and accuracy suitable for clinical practice. The Atlas system allows the operator more mobility during TMS treatments by removing any concerns about line-of-sight. It employs the latest technology to present patients with a visual portrayal of their MRI scan in addition to real-time movement tracking of the treatment coil aligning with the position of their head, giving them an active participation in the procedure.
Which growth-oriented segments of the transcranial magnetic stimulator market are leading the industry's development?
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
Subsegments:
1) By Deep Transcranial Magnetic Stimulator (dTMS): Systems With FDA Approval, Non-Invasive Systems, Clinical Applications
2) By Repetitive TMS (rTMS): High-frequency rTMS, Low-frequency RTMS, Clinical Applications
3) By Other Types: Theta Burst Stimulation (TBS), Single Pulse TMS, Other Emerging Technologies
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What regions are leading the charge in the transcranial magnetic stimulator market?
North America was the largest region in the transcranial magnetic stimulator market in 2024.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
What companies are at the forefront of innovation in the transcranial magnetic stimulator market?
Major companies operating in the transcranial magnetic stimulator market include BrainsWay Ltd., Nexstim Plc., The Magstim Company Limited, Neuronetics Inc., TMS Neuro Solutions, MagVenture Inc., eNeura Inc., MAG & More GmbH, neurocare group AG, Axilum Robotics, Salience TMS Neuro Solutions, Terumo BCT Inc., Neurosoft, BrainsGate Ltd., NeuroStar Advanced Therapy, Neuroelectrics, Yiruide Neurotech, Rhythmia Medical, CloudTMS, Pulse TMS, Neuronavigation, MagPro Magnetics A/S, BrainSight, MindMaze, NeuroConn GmbH, Neurofield Inc., Neurotargeting LLC, Neuro-Fit Systems Inc.
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What Is Covered In The Transcranial Magnetic Stimulator Global Market Report?
• Market Size Forecast: Examine the transcranial magnetic stimulator market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the transcranial magnetic stimulator market for a structured understanding.
• Key Players Overview: Analyze major players in the transcranial magnetic stimulator market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the transcranial magnetic stimulator market.
• Segment Contributions: Evaluate how different segments drive overall growth in the transcranial magnetic stimulator market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the transcranial magnetic stimulator market.
• Industry Challenges: Identify potential risks and obstacles affecting the transcranial magnetic stimulator market.
• Competitive Landscape: Review strategic developments in the transcranial magnetic stimulator market, including expansions, agreements, and new product launches.
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