Transcranial Magnetic Stimulator Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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How has the transcranial magnetic stimulator market size evolved in recent years?
The market size for transcranial magnetic stimulators has significantly expanded in the recent past. The market is projected to inflate from a worth of $1.29 billion in 2024 to around $1.4 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.7%. Factors driving the growth during the historic period include competitive dynamics in the market, regulatory modifications, acceptance of the market, clinical validation, and development of healthcare infrastructure.
What are the predictions for the transcranial magnetic stimulator market size in the coming years?
The market size for transcranial magnetic stimulators is predicted to witness robust expansion in the forthcoming years, reaching a valuation of “$2.04 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 9.9%. The anticipated growth over the forecast period is due to factors such as increased investment and funding, incorporation in healthcare services, fiercer competition, and market expansion. Major trends expected to emerge in this time frame include clinical research, increased mental health awareness, alterations in regulations, the escalating demand for non-invasive therapeutic options, and technology advancements.
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What key factors are fueling the growth of the transcranial magnetic stimulator market?
The transcranial magnetic stimulator market is projected to grow due to the increasing incidence of neurological conditions. Transcranial magnetic stimulation (TMS), a new therapeutic approach, has demonstrated significant results in addressing various neurological and psychiatric disorders, including stroke, spasticity, migraine, dementia, and movement disorders. For example, the Switzerland-based organization World Health Organization (WHO) reported in March 2023 that roughly 280 million people globally are struggling with depression. According to the US-based National Institute of Mental Health (NIMH), 66% of American adults aged 18 and above who had severe depressive episodes received proper treatment in 2021, as mentioned in their January 2022 report. Additionally, the Parkinson’s Foundation, a US nonprofit, conducted a study in December 2022 revealing a predicted rise in the amount of people afflicted with Parkinson’s disease (PD), increasing from 930,000 in 2020 to a projected 1.2 million by 2030. Consequently, the growing incidence of neurological conditions is anticipated to fuel the expansion of the transcranial magnetic stimulator market.
How is the global transcranial magnetic stimulator market divided into key segments?
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 key firms paving the way for growth 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 trends are expected to transform the transcranial magnetic stimulator market?
One trending topic gaining traction in the transcranial magnetic stimulator market is the advent of product innovations. Businesses active in the transcranial magnetic stimulator industry are embracing cutting-edge technologies to maintain their market position. For instance, in March 2023, MagVenture Inc., a leading producer of medical equipment in the US, launched their MagVenture TMS Atlas Neuro Navigation System. The system improves the positioning of the transcranial magnetic stimulator coil through a dependable, user-friendly workflow that’s highly accurate and efficient, and less time-consuming. The Atlas system eliminates concerns related to the operator’s line of sight, thereby increasing their mobility during TMS treatments. In addition, the system employs sophisticated technology to present patients with a visual representation of their MRI scan, and simultaneously track the treatment coil’s real-time location on their head. This allows patients to be more engaged in the process.
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What regions are contributing significantly to the growth of 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
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