Press release
Transcranial Magnetic Stimulator Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Transcranial Magnetic Stimulator
How Large Will the Transcranial Magnetic Stimulator Market Size By 2025?
The market for transcranial magnetic stimulators has experienced robust expansion in the past few years. The size of the market is expected to rise from $1.29 billion in 2024 to $1.4 billion in 2025, marking a compound annual growth rate (CAGR) of 8.7%. Factors contributing to growth in the historic period include competitive dynamics within the market, the adoption of this innovation, alterations to industry regulations, clinical validations, and developments in healthcare infrastructure.
How Big Is the Transcranial Magnetic Stimulator Market Size Expected to Grow by 2029?
The market size for transcranial magnetic stimulators is anticipated to witness robust expansion in the coming years, reaching "$2.04 billion by 2029 with a compound annual growth rate (CAGR) of 9.9%. The predicted growth during this forecast period can be linked to various factors such as capital investment, adoption in the healthcare sector, competitive scenario, and market expansion. The key trends that are expected to shape this growth period involve clinical research, amplified awareness about mental health, regulatory modifications, escalating demand for non-invasive therapies, and evolution in technology.
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Which Key Market Drivers Powering Transcranial Magnetic Stimulator Market Expansion and Growth?
The rising incidence of neurological disorders is predicted to fuel the expansion of the transcranial magnetic stimulator market. Transcranial magnetic stimulation (TMS) has proven effective in managing a range of neurological and psychiatric diseases. This advanced technique is used in treating diverse neurological conditions, including stroke, spasticity, migraines, dementia, and movement disorders. For instance, WHO, a Switzerland-based international organization, reported in March 2023 that about 280 million people globally were battling depression. Moreover, data from the National Institute of Mental Health (NIMH), a US federal agency, revealed in January 2022 that 66% of American adults aged 18 or older with major depressive episodes acquired treatment in 2021. Additionally, in December 2022, research by the Parkinson's Foundation, a non-profit organization in the US, disclosed that the population afflicted with Parkinson's disease (PD) is projected to rise to 1.2 million by 2030, a substantial increase from 930,000 in 2020. Hence, the surging prevalence of neurological diseases is anticipated to boost the growth trajectory of the transcranial magnetic stimulator market.
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Which Fast-Growing Trends Are Poised to Disrupt the Transcranial Magnetic Stimulator Market?
A significant trend on the rise within the transcranial magnetic stimulator market is the development of new and innovative products. In order to gain a competitive edge, companies within this market are implementing fresh technologies. An example is MagVenture Inc., a medical equipment manufacturing company based in the US, which in March 2023 launched the MagVenture TMS Atlas Neuro Navigation System. This system enhances the positioning of the transcranial magnetic stimulator coil with its efficient, highly accurate workflow that is not only reliable, but also user-friendly. Designed for clinical use, the Atlas system offers high precision and accuracy. With Atlas, operators can move more freely while conducting TMS treatments, as it negates line-of-sight issues. The system also employs state-of-the-art technology to display patients' MRI scans and track the treatment coil on the head in real-time, giving patients a more active role in the procedure.
What Are the Emerging Segments in the Transcranial Magnetic Stimulator Market?
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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Transcranial Magnetic Stimulator Industry?
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
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