Press release
Transcranial Magnetic Stimulator Market Growth Accelerates: Strategic Forecast Predicts $2.01 Billion by 2029
Transcranial Magnetic Stimulator
What Will the Transcranial Magnetic Stimulator Industry Market Size Be by 2025?
The market for transcranial magnetic stimulators has seen substantial growth in the past few years. The market is projected to expand from $1.29 billion in 2024 to $1.39 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. Various factors such as competitive market trends, adoption rates, regulatory amendments, clinical confirmations, and development in healthcare infrastructure have all contributed to this historical period growth.
What's the Long-Term Growth Forecast for the Transcranial Magnetic Stimulator Market Size Through 2029?
In the coming years, the market for transcranial magnetic stimulators is predicted to experience robust growth, reaching a value of $2.01 billion by 2029 with a compound annual growth rate (CAGR) of 9.6%. This anticipated growth during the forecast period is due to factors such as investment and funding, adoption by the healthcare industry, a competitive market landscape, and market expansion. Key trends expected during this forecasting period consist of clinical research, heightened awareness of mental health, regulatory changes, an increasing demand for non-invasive treatments, and technological advancements.
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What Are the Key Growth Drivers Fueling the Transcranial Magnetic Stimulator Market Expansion?
The surge in neurological disorders is anticipated to fuel the expansion of the transcranial magnetic stimulator market. Transcranial magnetic stimulation (TMS) has displayed potential in addressing diverse neurological and psychiatric conditions. This novel method is used to manage a range of neurological issues including stroke, spasticity, migraine, dementia, and movement abnormalities. As an example, in March 2023, WHO, a global affairs institution based in Switzerland, announced that around 280 million individuals worldwide were suffering from depression. Moreover, in January 2022, the National Institute of Mental Health (NIMH), a federal agency from the US, reported that 66% of US adults over 18 with major depressive episodes were treated in 2021. In addition, in December 2022, research by Parkinson's Foundation, a non-profit body from the United States, disclosed that the population of people afflicted with Parkinson's disease (PD) is predicted to surge to 1.2 million by 2030, rising from 930,000 in 2020. Consequently, the escalating occurrence of neurological disorders is foreseen to stimulate the growth of the transcranial magnetic stimulator market.
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What Long-Term Trends Will Define the Future of the Transcranial Magnetic Stimulator Market?
Several prominent businesses in the transcranial magnetic stimulator market are enhancing their revenue by introducing innovative technologies such as advanced transcranial magnetic stimulation. The Advanced Transcranial Magnetic Stimulation (TMS) is a non-invasive brain stimulation method that applies swiftly changing magnetic fields to the cerebral cortex surface. In one instance, YINGCHI, a transcranial magnetic stimulation systems producer based in China, released the TMS 3D Navigation System -Quick Vision in September 2022. The high-precision infrared optical capture technology employed by the YINGCHI TMS 3D navigation system allows it to project the stimulation-focused magnetic field onto the personalized brain's anatomical image and precisely track and locate the TMS equipment coil with millimetre-level accuracy. Additionally, it's easy and intuitive to use, possibly assisting operators in quickly pinpointing TMS targets, thus improving the efficiency and effectiveness of diagnosis and treatment.
How Is the Transcranial Magnetic Stimulator Market Segmented?
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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Which Companies Are Leading the Charge in Transcranial Magnetic Stimulator Market Innovation?
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 Regions Are Leading the Global Transcranial Magnetic Stimulator Market in Revenue?
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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