Transcranial Magnetic Stimulator Market Share, Report 2028

Transcranial Magnetic Stimulator (TMS) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Single or Paired Pulse TMS, Repetitive TMS (rTMS)); Age Group (Adults, Children); Application (Research, Diagnostic, Therapeutic), and Geography

  • Report Code : TIPRE00007242
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 152
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[Research Report] The transcranial magnetic stimulator (TMS) market is projected to reach US$ 2,029.71 million by 2028 from US$ 1,122.22 million in 2021; it is expected to register a CAGR of 8.8% from 2021 to 2028.

Neurological disorders affect the brain and nerves of the human body and cause epilepsy and seizures, Parkinson's disease, dementia, autism, Alzheimer's disease, brain tumors, and cerebral palsy, among others. The prevalence of neurological disorders is increasing across the world. According to the Global Burden of Disease Study (GBD) 2017, Alzheimer’s disease and other dementias [2.55 million Disability Adjusted Life Years (DALYs)], stroke [about 3.58 million DALYs], and migraine (about 2.40 million DALYs) were the three most burdensome neurological diseases in the US in terms of a total number of disability-adjusted life.

Further, the Alzheimer's Association estimates that over 6 million Americans have Alzheimer's disease, and the number is projected to reach nearly 13 million by 2050. Transcranial Magnetic Stimulator (TMS) is widely used for the diagnosis and treatment of neurological disorders. For instance, according to BrainsWay Ltd., in April 2021, 100,000 patients across the world were treated with its Deep TMS. Thus, the growing prevalence of neurological disorders drives the growth of the transcranial magnetic stimulator (TMS) market globally. Moreover, depression is one of the mental disorders observed commonly among people worldwide. As per the data published by WHO in January 2020, more than 264 million people of all ages suffer from depression across the world.

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Transcranial Magnetic Stimulator (TMS) Market: Strategic Insights

Transcranial Magnetic Stimulator (TMS) Market

  • CAGR (2021 - 2028)
    8.8%
  • Market Size 2021
    US$ 1.12 Billion
  • Market Size 2028
    US$ 2.03 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • BrainsWay Ltd
  • Nexstim
  • Magstim
  • Neuronetics
  • TMS Neuro Solutions
  • MagVenture, Inc.
  • eNeura Inc.
  • Neurosoft
  • MAG & More GmbH.

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Type
  • Single or Paired Pulse TMS
  • Repetitive TMS
Age Group
  • Adults
  • Children
Application
  • Research
  • Diagnostic
  • Therapeutic
Geography
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South and Central America
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Market Insights


Transcranial magnetic stimulation (TMS) is a noninvasive procedure that helps in treating neurological disorders. In addition, growing technological developments in TMS have increased its applications. Companies operating in the transcranial magnetic stimulator (TMS) market are adopting various strategies such as receiving Food and Drug Administration (FDA) approvals for their innovative products, business partnerships, and raising funds for product development, which propel the market growth.

The following are a few examples of developments:

  • In March 2021, MagVenture introduced the MagVenture Flow Arm—a patent-pending, clinical positioning system—designed to optimize the delivery of MagVenture's FDA-cleared protocols for noninvasive brain stimulation technology for the treatment of major depressive disorder and as an adjunct therapy for obsessive compulsive disorder (OCD).
  • In August 2020, MagVenture TMS Therapy received FDA clearance for the adjunct treatment of OCD. It is the second indication in the US for the Danish medical device company MagVenture.
  • In February 2019, eNeura, Inc., a privately held medical technology company, announced a new 510(k) clearance from FDA. With the clearance, the company claimed that the sTMS is the only migraine product in the US for the treatment of acute and prophylactic migraine headaches in adults and children (12 years and above).

Thus, the active involvement of the global players in the development of transcranial magnetic stimulation and related technologies is expected to support the market growth.

Type-Based Insights


Based on type, the transcranial magnetic stimulator (TMS) market is segmented into single or paired pulse TMS and repetitive TMS (rTMS). In 2021, the single or paired pulse TMS segment held a larger share of the market. However, the repetitive TMS (rTMS) segment is expected to witness a higher CAGR during 2021–2028.

Application-Based Insights


Based on application, the market is segmented into research, diagnostic, and therapeutic. In 2021, the diagnostic segment held the largest share of the market and is expected to grow at the highest CAGR during the coming years.

Companies operating in the transcranial magnetic stimulator (TMS) market emphasize on adopting the strategy of product innovations to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the global market.

Transcranial Magnetic Stimulator Market Report Scope

Report Attribute Details
Market size in 2021 US$ 1.12 Billion
Market Size by 2028 US$ 2.03 Billion
Global CAGR (2021 - 2028) 8.8%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Type
  • Single or Paired Pulse TMS
  • Repetitive TMS
By Age Group
  • Adults
  • Children
By Application
  • Research
  • Diagnostic
  • Therapeutic
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • BrainsWay Ltd
  • Nexstim
  • Magstim
  • Neuronetics
  • TMS Neuro Solutions
  • MagVenture, Inc.
  • eNeura Inc.
  • Neurosoft
  • MAG & More GmbH.
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Transcranial Magnetic Stimulator (TMS) Market – Segmentation

    By Type

    • Single or Paired Pulse TMS
    • Repetitive TMS (rTMS)

    By Age Group

    • Adults
    • Children

    By Application

    • Research
    • Diagnostic
    • Therapeutic

    By Geography

    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • France
      • Germany
      • Italy
      • UK
      • Spain
      • Rest of Europe
    • Asia Pacific (APAC)
      • China
      • India
      • South Korea
      • Japan
      • Australia
      • Rest of APAC
    • Middle East and Africa (MEA)
      • South Africa
      • Saudi Arabia
      • UAE
      • Rest of MEA
    • South and Central America (SCAM)
      • Brazil
      • Argentina
      • Rest of SCAM

    Company Profiles

    • BrainsWay Ltd
    • Nexstim, Magstim
    • Neuronetics
    • TMS Neuro Solutions
    • MagVenture, Inc.
    • eNeura Inc.
    • Neurosoft
    • MAG & More GmbH
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Type ); Age Group ; Application , and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    Which region is the fastest growing the Transcranial Magnetic Stimulator (TMS) market?

    Asia Pacific is expected to be the fastest-growing region and is likely to expand at a high growth rate due to large geriatric population, rising numbers of neurological disorders are among the factors expected to drive the market in the region during the forecast period.

    Which segment is dominating the Transcranial Magnetic Stimulator (TMS) market?

    The global Transcranial Magnetic Stimulator (TMS) market based on type is segmented into Single or paired pulse TMS and Repetitive TMS (rTMS). In 2021, the Single or paired pulse TMS segment held the largest share of the market, by type. The Repetitive TMS (rTMS) segment of Transcranial Magnetic Stimulator (TMS) market is also expected to witness fastest CAGR during 2021 to 2028..

    Who are the major players in the Transcranial Magnetic Stimulator (TMS) market?

    The Transcranial Magnetic Stimulator (TMS) market majorly consists of the players such as BrainsWay Ltd, Nexstim, Magstim, Neuronetics, TMS Neuro Solutions, MagVenture, Inc., eNeura Inc., Neurosoft, MAG & More GmbH. REMED among others amongst others.

    Which country is dominated the Transcranial Magnetic Stimulator (TMS) market?

    The US is the largest market for Transcranial Magnetic Stimulator (TMS) at a global level. The US is the largest and fastest-growing market for the TMS market. The market growth is attributed to increasing developments of the medical device sector for neuromodulation, significantly rising incidences of neurological disorders among people and growing demand for neuromodulation devices for chronic pain management. In addition, the economic burden to treat neurological disorders is significantly growing in the country. For instance, according to a study published by the American Neurological Association in March 2017, ~US$ 800 billion is spent per year for treating neurological disorders. The cost of treatment affects ~100 million people every year across the country. It is also estimated that the treatment cost of dementia and stroke alone is estimated to reach over US$ 600 billion in 2030.

    What are the driving factors for the Transcranial Magnetic Stimulator (TMS) market across the globe?

    The factors that are driving and restraining factors that will affect Transcranial Magnetic Stimulator (TMS) market in the coming years. Factors such as rising prevalence of neurological disorders, growing developments in transcranial magnetic stimulation technology are driving the market growth. However, high cost of diagnostic and treatment are likely to hamper the growth of the market.

    What is Transcranial Magnetic Stimulator (TMS)?

    Transcranial Magnetic Stimulator (TMS), also referred to us repetitive Transcranial Magnetic Stimulator (rTMS), is a type of brain stimulation in which a changing magnetic field is applied to a specific area of the brain. An electric pulse stimulator is attached to a magnetic coil, which is then connected to the scalp. It is a non-invasive procedure and is used for diagnostic and therapeutic applications.

    The List of Companies - Transcranial Magnetic Stimulator (TMS) Market

    1. BrainsWay Ltd
    2. Nexstim
    3. Magstim
    4. Neuronetics
    5. TMS Neuro Solutions
    6. MagVenture, Inc.
    7. eNeura Inc.
    8. Neurosoft
    9. MAG & More GmbH.
    10. REMED

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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