Transcranial Magnetic Stimulator Global Market Report 2023

Major players 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, Beckman Coulter Inc.

New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Transcranial Magnetic Stimulator Global Market Report 2023" - https://www.reportlinker.com/p06479987/?utm_source=GNW
, Axilum Robotics, Salience TMS Neuro Solutions, and Terumo BCT Inc.

The global transcranial magnetic stimulator market is expected to grow from $1.09 billion in 2022 to $1.20 billion in 2023 at a compound annual growth rate (CAGR) of 10.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions and affecting many markets across the globe. The transcranial magnetic stimulator market is expected to reach $1.70 billion in 2027 at a CAGR of 9.1%.

The transcranial magnetic stimulator market consists of sales of single-pulse and paired-pulse transcranial magnetic stimulators.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Transcranial magnetic stimulators (TMS) are non-invasive medical devices that employ magnetic waves to activate neurons in the nervous system in order to alleviate symptoms of depression. Transcranial magnetic stimulator (TMS) devices are used to activate neurons in the nervous system in order to alleviate symptoms of depression and other mental health and brain-related diseases.

North America was the largest region in the transcranial magnetic stimulator market in 2022.Asia-Pacific is expected to be the fastest-growing region in 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 and Africa.

The main types of transcranial magnetic stimulators are deep transcranial magnetic stimulators (dTMS), repetitive TMS (rTMS), and others.Deep Transcranial Magnetic Stimulator (dTMS) refers to a type of transcranial magnetic stimulation (TMS) therapy that uses magnetic fields to stimulate nerve cells in the brain to improve symptoms of depression.

It is available for children and adults and is used in various applications such as Parkinson’s disease, depression, Alzheimer’s disease, epilepsy, and others.

The increasing prevalence of neurological diseases is expected to drive the growth of the transcranial magnetic stimulator market.Transcranial magnetic stimulation (TMS) has shown promising results in treating various neurological and psychiatric illnesses.

It is a new technique used to treat various neurological conditions such as stroke, spasticity, migraine, dementia, and movement disorders.For instance, in March 2023, WHO, a Switzerland-based international affairs body, stated that approximately 280 million people worldwide suffered from depression.

Also, in January 2022, according to the National Institute of Mental Health (NIMH), a US-based federal agency, 66% of US adults aged 18 or older with major depressive episodes received treatment in 2021. Furthermore, in December 2022, a study by Parkinson’s Foundation, a US-based non-profit organization, revealed that the number of people living with Parkinson’s disease (PD) is estimated to increase to 1.2 million by 2030, up from 930,000 in 2020. Therefore, the increasing prevalence of neurological diseases is expected to propel the growth of the transcranial magnetic stimulator market.

Product innovations are a key trend gaining popularity in the transcranial magnetic stimulator market.Companies operating in the transcranial magnetic stimulator market are adopting new technologies to sustain their position in the market.

For instance, in March 2023, MagVenture Inc., a US-based medical equipment manufacturer, introduced the MagVenture TMS Atlas Neuro Navigation System. This system optimizes transcranial magnetic stimulator coil positioning with a time-saving, high-precision workflow that is reliable and easy to use. It provides high precision and accuracy for clinical use. Atlas provides the operator with a greater range of movement during TMS treatments by eliminating line-of-sight concerns. It uses advanced technology to provide patients with a visual depiction of their MRI scan as well as real-time tracking of the treatment coil to their head position, allowing them to be more involved in the procedure.

The increasing prevalence of schizophrenia is expected to propel the growth of transcranial magnetic stimulator market going forward.Schizophrenia is a mental condition marked by a variety of symptoms such as hallucinations, delusions, disordered speech, and aberrant behavior.

Transcranial magnetic stimulation (TMS) has been presented as a viable therapeutic in schizophrenia.Research conducted over the last 15 years, has supported the use of TMS as a safe and effective technique of treating both positive and negative symptoms of schizophrenia.

For instance, in January 2022, according to a report published by World Health Organization, a Switzerland-based organization responsible for public health, Schizophrenia affects roughly 24 million individuals globally, or one in every 300 people (0.32%). Only 31.3% of patients with psychosis receive specialized mental health treatment, despite the fact that almost 50% of people in mental institutions have a schizophrenia diagnosis. People with schizophrenia are two to three times more likely than the general population to die young. Therefore, the increasing prevalence of schizophrenia will propel the growth of transcranial magnetic stimulator market.

The countries covered in the transcranial magnetic stimulator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The transcranial magnetic stimulator market research report is one of a series of new reports that provides transcranial magnetic stimulator market statistics, including transcranial magnetic stimulator industry global market size, regional shares, competitors with a transcranial magnetic stimulator market share, detailed transcranial magnetic stimulator market segments, market trends and opportunities, and any further data you may need to thrive in the transcranial magnetic stimulator industry. This transcranial magnetic stimulator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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