The global transcranial magnetic stimulators market is projected to grow at a rate of 8.3% in terms of value, from 2023 to reach USD 1.82 Billion by 2032. A Transcranial Magnetic Stimulators stimulator has a power cable and is the size of a mini-fridge. It has several controls on it to adjust stimulation parameters such as the number of pulses, pulse frequency, and pulse intensity. The coil looks like one or more loops and is held over the head (the part to be stimulated) by a mechanical arm, or by the hand of the operator.
The stress of hectic work-life and increasing patient suffering from depression is resulting in a high demand for transcranial magnetic stimulator. Medical causes of neurological disorders include infections, congenital abnormalities or disorders, brain surgery, nerve or spinal cord injury, and lifestyle or environmental health problems, including malnutrition. According to the International Journal of Epidemiology, the genetic disorder is also one of the causes for neurological disorders across the globe.
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North America dominated the transcranial magnetic stimulator market due to a high level of awareness regarding the procedure, availability of highly skilled physicians, favorable reimbursement policies, and the presence of state of the art healthcare facilities in the region. Moreover, growing adoption of technologically advanced products and a rise in the funding by the governments for research & development for innovative devices & surgical procedures are aiding further growth.
Key Coverage of the Report
- Region and country wise statistics of the global Transcranial Magnetic Stimulators market from the period 2023-2032. While 2023 & 2032 have been utilized as historical data, 2023 is considered the base year. 2023-2032 have been derived as forecasts.
- Estimation of the market size along with historical and forecasted trend analysis.
- Various drugs available for the market have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- Share of end-user, including hospital, ambulatory surgical centers, and clinics, have been estimated.
- Regional up-coming research and application outlook.
- Regional prevalence of Transcranial Magnetic Stimulators has been mapped.
- Demand and Supply GAP Analysis
- Regional Competitors Pricing Strategy
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Transcranial Magnetic Stimulators Market
- Transcranial Magnetic Stimulators is being researched extensively with the hope that it will provide solutions for the neurological diseases, physical rehabilitation in addition to psychiatry, and even pain management.
- There are several side effects to the procedure that sometimes deters its adoption. Some common side-effects are Headache, Scalp discomfort at the site of stimulation, tingling, spasms or twitching of facial muscles, and lightheadedness, whereas some uncommon side effects include seizures, mania, particularly in people with bipolar disorder, and hearing loss if there is inadequate ear protection during treatment.
- Many private organizations and governments across the globe are trying to educate the people about the procedure and its benefits. However, the high price of the device and slow penetration among developing nations are likely to limit the growth of the market.
- Asia Pacific is anticipated grow at the fastest CAGR of 9.5% during the forecast period. Growing healthcare tourism, changing lifestyle, increase in the prevalence of chronic diseases, heavy investments in the transcranial magnetic stimulator, and a large number of product launches are some of the key factors supporting the growth in the region.
- In 2018, Mag Ventura received clearance from FDA for a 3 minute TBS depression treatment. The Theta burst stimulation is based on the world’s largest randomized control trial with TMS.
Companies considered and profiled in this market study
Brainsway, eNeura, MagVenture, Neurosoft, Dr. Langer Medical, MAG & More, Remed, Nexstim, Yiruide, and Neuronetics Inc., among others.
- The valuation for the Transcranial Magnetic Stimulators Market was USD 883.4 Million in 2018, and it is expected to reach USD 1.82 Billion by 2032.
- Repetitive transcranial magnetic stimulation is a type of brain stimulation therapy used to treat anxiety and depression. The therapy involves using a magnet to stimulate certain areas of the brain.
- The U.S. Food and Drug Administration approved rTMS as a treatment for major depression when other treatments haven’t been effective. Sometimes doctors use rTMS in addition to traditional treatments. Doctors generally suggest taking at least one round of prescription antidepressants before exploring the possibility of rTMS.
- Epilepsy is among the non-communicable and chronic diseases of the brain, which affects people of all ages. More than 50 million people are currently living with epilepsy, according to the World Health Organization. The organization also stated that in the year 2019, the risk of premature death among people suffering from the disease is thrice than that of the general population. The rising prevalence of the disease is driving its demand.
- Clinics are forecasted to grow with a CAGR of 8.4% during the forecast period. Clinics are emerging at every possible areas equipped with modern technologies and devices and they also have skilled professionals to overlook the procedure. Most of the patients who are prescribed repetitive procedure undergoes it in the clinics.
- Europe is the second-largest market witnessing moderate growth for the transcranial magnetic stimulator market. The governments in Europe is coming up with some of the initiatives to educate and to raise awareness regarding the neurological diseases. One of the initiatives, such as the European Parkinson’s Disease Association, is actively supporting research and development by campaigning to generate awareness and provide medication to patients.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this report, have segmented into the global Transcranial Magnetic Stimulators Market on the basis of type, application, end-user, and region:
Type Outlook (Revenue, USD Million; 2023-2032)
- Deep Transcranial Magnetic Stimulator(dTMS)
- Repetitive Transcranial Magnetic Stimulator
Application Outlook (Revenue, USD Million; 2023-2032)
- Alzheimer\’s Disease
- Parkinson\’s Disease
- Depression Disease
- Epilepsy Disease
End-User Outlook (Revenue, USD Million; 2023-2032)
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; 2023-2032)
- North America
- Asia Pacific
- Latin America
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