What’s the Current Status and Projected Growth of the Transcranial Magnetic Stimulator Market?
The transcranial magnetic stimulator market has experienced notable growth in recent years, expanding from $1.29 billion in 2024 to a forecasted $1.4 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. Factors contributing to this growth include competitive market dynamics, adoption in healthcare, regulatory changes, clinical validation, and healthcare infrastructural development. The transcranial magnetic stimulator market is poised for sustained growth in the coming years, with projections estimating the market will reach $2.04 billion by 2029 at a CAGR of 9.9%. This future growth is expected to be propelled by investment and funding, healthcare adoption, competitive landscape, and market expansion, complemented by trends such as clinical research, increased mental health awareness, regulatory changes, rising demand for non-invasive therapies, and technological evolution.
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What is Driving the Growth of the Transcranial Magnetic Stimulator Market?
The increasing prevalence of neurological diseases is expected to spur the growth of the transcranial magnetic stimulator market. Transcranial magnetic stimulation (TMS) shows potential in treating a variety of neurological and psychiatric illnesses employing a new technique used for conditions like stroke, spasticity, migraine, dementia, and movement disorders. Notably, in March 2023, the World Health Organization reported about 280 million people worldwide suffering from depression. Moreover, in January 2022, the National Institute of Mental Health indicated that 66% of US adults with major depressive episodes received treatment in 2021. Astonishingly, a study by the Parkinson’s Foundation in December 2022 predicted the number of people living with Parkinson’s disease to increase to 1.2 million by 2030, from 930,000 in 2020. Hence, the escalating prevalence of neurological diseases is forecasted to drive the transcranial magnetic stimulator market.
What are the Primary Segments of the Transcranial Magnetic Stimulator Market?
1) Deep Transcranial Magnetic Stimulator (dTMS)
2) Repetitive TMS (rTMS)
3) Other Types
4) Children
5) Adults
6) Parkinson’s Disease
7) Depression
8) Alzheimer’s Disease
9) Epilepsy
10) Other Applications
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Who Are the Major Players in the Transcranial Magnetic Stimulator Market?
Among the principal companies operating in the transcranial magnetic stimulator market are 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, and Neuro-Fit Systems Inc.
What Trends are Influencing the Transcranial Magnetic Stimulator Market?
Product innovation and technological advancements are among the trends gaining popularity in the transcranial magnetic stimulator market. Companies are adopting new technologies to maintain their market position. For instance, in March 2023, MagVenture Inc., a US-based medical equipment manufacturer, launched the MagVenture TMS Atlas Neuro Navigation System. This system optimizes transcranial magnetic stimulator coil positioning with a reliable, easy-to-use, and time-saving high-precision workflow. By eliminating line-of-sight concerns, it offers a more extensive range of movement during TMS treatments, also enabling patients to be more involved in the procedure by visualizing their MRI scan and real-time tracking of their treatment coil to their head position.
What’s the Regional Perspective on the Transcranial Magnetic Stimulator Market?
In 2024, North America was the largest regional market for transcranial magnetic stimulators. However, during the forecast period, the Asia-Pacific region is slated to be the fastest-growing regional market. Other featured regions in the transcranial magnetic stimulator market report include Western Europe, Eastern Europe, South America, the Middle East, and Africa.
What Does The Transcranial Magnetic Stimulator Market Report 2025 Offer?
Transcranial magnetic stimulators (TMS) are non-invasive medical devices that employ magnetic waves to activate neurons in the nervous system, helping alleviate symptoms of depression and other mental health and brain-related diseases. The Transcranial Magnetic Stimulator Market research report from The Business Research Company offers a wealth of information, including details on global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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