The global Transcranial Magnetic Stimulator Market is estimated to be valued at US$ 638.4 Mn in 2023 and is expected to exhibit a CAGR of 12.4% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Transcranial magnetic stimulation (TMS) is a non-invasive procedure that uses magnetic fields to stimulate nerve cells in the brain to improve symptoms of depression, movement disorders, and other neurological and psychiatric conditions. TMS offers advantages like painless and noninvasive procedure compared to other neurostimulation therapies. Rising geriatric population prone to neurological disorders and increasing prevalence of mental health issues are fueling growth of the TMS market.
Market key trends:
One of the key trends fueling the transcranial magnetic stimulator market growth is increasing adoption of repetitive Transcranial Magnetic Stimulation (rTMS) therapy for treatment-resistant depression. rTMS involves using magnetic fields to stimulate nerve cells in mood regulation centers of brain of depressed patient. It has shown efficacy in alleviating symptoms in patients not responding to antidepressant medications. This non-invasive technique provides hope for millions of people suffering from depression, without the risk and side effects of surgical procedures like deep brain stimulation.
Segment Analysis
The global Transcranial Magnetic Stimulator Market Size is segmented by type, application, and end-user. Based on type, the market is divided into single or paired-pulse transcranial magnetic stimulator and repetitive transcranial magnetic stimulator. The repetitive transcranial magnetic stimulator segment currently dominates the market due to its high efficiency in treating depression and other neurological disorders compared to single-pulse TMS devices.
Key Takeaways
The global transcranial magnetic stimulator market is expected to witness high growth, exhibiting a CAGR of 12.4% over the forecast period of 2023-2030, due to increasing prevalence of neurological and psychiatric disorders.
Regional Analysis
On the basis of region, the United States region holds the largest share in the global transcranial magnetic stimulator market owing to increasing adoption of technologically advanced TMS devices for treatment of various neurological and psychiatric disorders.
Key Players
Key players operating in the transcranial magnetic stimulator market are Magstim, Brainsway, Nexstim, Neuronetics, Remed, Yiruide, Dr. Langer Medical, MAG & More, Deymed, MagVenture, eNeura, Neurosoft, Neuro-Electrics, TCT Research, MagPro Compact, Axilum Robotics, Onward Medical, Rogue Resolutions, Avision, RAPID Biomedical.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it