Transcranial Magnetic Stimulator (TMS) is a non-invasive procedure that uses magnetic fields to stimulate nerve cells in the brain in order to treat various brain diseases and disorders such as depression, Parkinson's disease and Alzheimer's disease. TMS therapy has certain advantages such as improved efficacy over certain antidepressant drugs and no side effects of electroconvulsive therapy or repetitive transcranial magnetic stimulation. The increasing prevalence of neurological and psychiatric disorders, approval of TMS devices for various indications and emerging advancements in TMS technology are driving the demand for TMS therapy.
The global Transcranial Magnetic Stimulator Market is estimated to be valued at US$ 1.42 Bn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing geriatric population, which is more susceptible to neurological and psychiatric disorders, has emerged as one of the key factors boosting the adoption of TMS therapy. It is estimated that over 18% of the global population will be aged 65 years and above by 2050. Moreover, increasing awareness regarding advantages of TMS over drug therapy and favorable reimbursement policies in developed countries are supporting the market growth. Various technological advancements in TMS devices such as multi-coil devices, H-Coil deep TMS, MRI-guided TMS therapy and closed-loop TMS systems with real-time feedback are helping expand treatment applications of TMS. Development of innovative stimulation techniques and compact TMS devices will further accelerate the market expansion during the forecast period.
Segment Analysis
The global transcranial magnetic stimulator market is dominated by rTMS (repetitive Transcranial Magnetic Stimulation) sub-segment, accounting for around 85% of the overall market share in 2024. rTMS technique is preferred over single-pulse TMS as it allows repetitive stimulation of the brain and is proven to be more effective in treating various medical conditions such as depression, schizophrenia, Alzheimer's, etc.
Key Takeaways
The Global Transcranial Magnetic Stimulator Market Size is expected to witness high growth over the forecast period of 2024-2031. The global Transcranial Magnetic Stimulator Market is estimated to be valued at US$ 1.42 Bn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.
Regional analysis
North America region is estimated to hold the major share of the transcranial magnetic stimulator market by 2031 owing to increasing geriatric population, rising cases of depression and Alzheimer's disease, favorable reimbursement policies, and rapid adoption of advanced treatment options.
Key players
Key players operating in the transcranial magnetic stimulator market are Medtronic, Liva Nova PLC, Dextera Surgical Inc., Ethicon US, LLC., Synovis Micro Alliance, Inc., Vitalitec International Inc., and MAQUET Holding B. V. & Co. KG., among others.
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https://www.trendingwebwire.com/transcranial-magnetic-stimulator-market-size-share-growth-outlook-2023/
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