Global Transcranial Magnetic Stimulator Market by Application (Epilepsy, Depression), by Type (dTMS, rTMS) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
Global transcranial magnet stimulator market was worth USD 883.38 millions in 2018. It is expected to grow at an 8.8% CAGR over the forecast period. The growth is driven by the increasing prevalence of neurological disorders such as Alzheimer's (PD) and Parkinson's (PD), as well as increased awareness among professionals about TMS.
Transcranial magnetic stimulation (TMS), a non-invasive treatment, uses a magnetic field to stimulate the brain's nerve cells and reduce chronic pain. It can also help with symptoms of neurological disorders such as depression. TMS is most commonly used to treat Treatment-resistant Depression (TRD). This treatment has been reported by many healthcare professionals to be very effective. Patients with metal implants in their eyes or ears, facial tattoos using magnetic ink or cardiac pacemakers should not undergo this treatment.
Calabasas TMS Center is one of the first TMS treatment centers in America that provides treatment for patients with depression. Healthcare authorities, such as the U.S. FDA, have approved TMS for various disorders--Post-Traumatic Stress Disorder (PTSD), PD, schizophrenia, stroke, nicotine addiction, and chronic pain.
A report from the ScienceDirect shows that 5.8 million Americans were living with Alzheimer's Disease (AD) in 2018. In the United States, an average of 65 people are diagnosed with AD every day. Around 10 million people in Europe are thought to be affected by dementia according to WHO. According to WHO, the number of people with dementia will rise from 50 million in 2018 up to 152 million by 2050. Market growth will be aided by the increasing prevalence of AD and dementia.
According to NCBI, dopamine insufficiency can cause depression, memory loss and loss of balance. It can also lead to stiffness in the muscles. According to the Parkinson's Foundation, approximately 1 million Americans will be diagnosed with PD by 2020. PD is more common in men than it is in women. According to the Anxiety & Depression Association of America (ADA), around 40 million Americans suffer from anxiety disorders. TMS has seen a rise in global demand due to the increasing prevalence of anxiety disorders and PD.
Type Insights
The market for Deep TMS (dTMS), segment, is expected to be the largest in the forecast period. This is due to increasing awareness and the rising incidence of Major Depressive Disorder (MDD). Deep TMS uses magnetic fields to treat scalp conditions. This procedure allows for non-invasive treatment in deep brain areas of patients with neurological disorders such as depression.
As a novel treatment for anxiety and depression, repetitive TMS (rTMS), is expected to grow rapidly. It allows direct stimulation of deeper brain volumes and greater depths (7-10). It is non-invasive and doesn't require any surgery or the implantation of electrodes. It was discovered that rTMS can treat a variety of psychiatric disorders such as schizophrenia, unipolar depression, and bipolar disorder. Market growth will be positively impacted by the recommendations of doctors and the research related to rTMS.
Application Insights
The market's largest share was held by depression in 2018, according to the application. According to WHO, more than half of those diagnosed with depression received treatment in 2018. According to the Mental Health America (MHA), approximately half of the U.S. population suffers from a mental disorder, such as MDD, or other disorders. The large share of this segment can be attributed for the high prevalence of depression around the world.
Epilepsy, a chronic and non-communicable brain disease that affects all ages, is one example. Worldwide, epilepsy affects more than 50 million people according to WHO. Additionally, epilepsy is diagnosed in approximately 2.4 million people each year. In high-income countries, there is an average of 30 to 50 new epilepsy cases per 1 00,000. WHO estimates that the risk of premature deaths in epilepsy patients is three times greater than in the general population in 2019. Market demand is expected to increase due to the increasing prevalence of epilepsy.
Regional Insights
North America is expected be the market leader in transcranial magnet stimulator sales due to its favorable reimbursement policies, increased awareness, the availability of highly-skilled physicians and established healthcare facilities. Further growth is being supported by increasing adoption of technologically advanced products as well as increased funding from the government for research and development in devices & surgical techniques.
Asia Pacific will see the fastest growth rate during the forecast period. This is due to the rising incidence of neurological and physiological disorders, increased government initiatives, as well as the increasing number of awareness programs run by NGOs. The regional market is driven by growing medical tourism, rising incidences of MDD and increased healthcare spending.
Market Share in Transcranial Magnetic Stimulator
Brainsway Ltd., Nexstim Plc, Magstim; Neuronetics Inc.; TMS Neurosolutions and Mag Venture are some of the key players. These companies are focused on the launch of new technologies and growth strategies such as mergers and acquisitions. In September 2017, eNeura Inc. was approved by the FDA for eNeura Spring TMS. This is a device that can be used to treat migraine acutely and prophylactically.
Market Report on Transcranial Magnetic Stimulator (TMS) Scope
Report Attribute |
More Details |
2020 Market Size Value |
USD 1.0 Billion |
Forecast revenue in 2026 |
USD 1.73 Billion |
Growth Rate |
CAGR of 8.8% between 2019 and 2026 |
Estimation base year |
2018 |
Historical data |
2015 - 2017 |
Forecast period |
2019 - 2026 |
Quantitative units |
From 2019 to 2026, revenue in USD millions and CAGR |
Report coverage |
Forecast revenue, company share, competitive landscape and growth factors and trends |
Segments covered |
Type, type, and region |
Regional scope |
North America; Europe; Asia Pacific, Latin America; MEA |
Country coverage |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Australia; South Korea; Brazil; Mexico; Argentina; Colombia; South Africa; Saudi Arabia; UAE |
Key companies profiled |
BrainsWay Ltd., Nexstim Plc, Magstim, Neuronetics, Inc., TMS Neuro Solutions, MagVenture, eNeura, Inc. |
The scope of customization |
With purchase, you get free report customization (equivalent to up to 8 analysts working day) You can add or modify country, region and segment scope. |
Prices and purchase options |
You can get customized purchase options that meet your research needs. Explore your purchase options |
The Report Covers Certain Segments
This report provides a forecast of revenue growth at the global, regional and country level and an analysis of industry trends in each sub-segment from 2015 to 2026. Grand View Research has divided the global transcranial magnet stimulator market report by type, application, region.
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Type Outlook (Revenue USD Million, 2015-2026)
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Deep Transcranial Magnetic Stimulator
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Repetitive Transcranial Magnet Stimulator (rTMS).
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Other
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Application Outlook (Revenue USD Million, 2015-2026)
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Alzheimer's Disease
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Depression
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Parkinson's Disease
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Epilepsy
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Other
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Regional Outlook (Revenue USD Million, 2015-2026)
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North America
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The U.S.
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Canada
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Europe
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Germany
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U.K.
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France
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Italy
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Spain
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Asia Pacific
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Japan
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China
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India
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Australia
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South Korea
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Latin America
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Brazil
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Mexico
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Argentina
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Colombia
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Middle East and Africa (MEA).
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South Africa
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Saudi Arabia
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UAE
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These are the most frequently asked questions about this report
What is the market for transcranial magnet stimulators?b. Global transcranial magnetic stimulator (TMS) market was valued at USD 959.0 Million in 2019. It is forecast to grow to USD 1.0 Billion in 2020.
What is the market growth for transcranial magnet stimulator?b. Global transcranial magnetic stimulator markets are expected to expand at an 8.8% compound annual growth rate from 2019 to 2026, to reach USD 1.73 Billion by 2026.
Which segment had the largest market share for transcranial magnet stimulators?b. Repetitive transcranial magnet stimulation (rTMS), dominated the transcranial stimulator market in 2019, with a 38.33% share. This can be attributed to surgeons' increasing preference and the increased use of rTMS.
What are the major players in the transcranial magnetic stimulation market?b. Some of the major players in the transcranial magnet stimulator market are BrainsWay Ltd., Nexstim Plc, Magstim, Neuronetics, Inc., TMS Neuro Solutions, MagVenture, eNeura, Inc.
What are the driving factors for the transcranial magnet stimulator market?b. Market growth is driven by technological advances, increased awareness about products, an increasing prevalence of neurological disorders, and increasing incidences of psychological disorders.
Up Market Research published a new report titled “Transcranial Magnetic Stimulator Market research report which is segmented by Application (Epilepsy, Depression), by Type (dTMS, rTMS), By Players/Companies Magstim; Neuronetics, MagVenture, Inc; TMS Neuro Solutions, Nexstim Plc, Inc, BrainsWay Ltd, eNeura”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Transcranial Magnetic Stimulator Market Research Report |
By Application | Epilepsy, Depression |
By Type | dTMS, rTMS |
By Companies | Magstim; Neuronetics, MagVenture, Inc; TMS Neuro Solutions, Nexstim Plc, Inc, BrainsWay Ltd, eNeura |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 206 |
Number of Tables & Figures | 145 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Transcranial Magnetic Stimulator Market Report Segments:
The market is segmented by Application (Epilepsy, Depression), by Type (dTMS, rTMS).
Transcranial Magnetic Stimulator Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Transcranial Magnetic Stimulator Market
Overview of the regional outlook of the Transcranial Magnetic Stimulator Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Transcranial Magnetic Stimulator Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Transcranial Magnetic Stimulator Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Epilepsy
2. Depression
7. By Type:1. dTMS
2. rTMS
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Transcranial Magnetic Stimulator Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
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Reasons to Purchase the Transcranial Magnetic Stimulator Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Transcranial Magnetic Stimulator Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Transcranial Magnetic Stimulator Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Transcranial Magnetic Stimulator Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Transcranial Magnetic Stimulator Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Transcranial Magnetic Stimulator Market Size & Forecast, 2018-2028
4.5.1 Transcranial Magnetic Stimulator Market Size and Y-o-Y Growth
4.5.2 Transcranial Magnetic Stimulator Market Absolute $ Opportunity
Chapter 5 Global Transcranial Magnetic Stimulator Market Analysis and Forecast by Application
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Application
5.1.2 Basis Point Share (BPS) Analysis by Application
5.1.3 Absolute $ Opportunity Assessment by Application
5.2 Transcranial Magnetic Stimulator Market Size Forecast by Application
5.2.1 Epilepsy
5.2.2 Depression
5.3 Market Attractiveness Analysis by Application
Chapter 6 Global Transcranial Magnetic Stimulator Market Analysis and Forecast by Type
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Type
6.1.2 Basis Point Share (BPS) Analysis by Type
6.1.3 Absolute $ Opportunity Assessment by Type
6.2 Transcranial Magnetic Stimulator Market Size Forecast by Type
6.2.1 dTMS
6.2.2 rTMS
6.3 Market Attractiveness Analysis by Type
Chapter 7 Global Transcranial Magnetic Stimulator Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Transcranial Magnetic Stimulator Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Transcranial Magnetic Stimulator Analysis and Forecast
9.1 Introduction
9.2 North America Transcranial Magnetic Stimulator Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Transcranial Magnetic Stimulator Market Size Forecast by Application
9.6.1 Epilepsy
9.6.2 Depression
9.7 Basis Point Share (BPS) Analysis by Application
9.8 Absolute $ Opportunity Assessment by Application
9.9 Market Attractiveness Analysis by Application
9.10 North America Transcranial Magnetic Stimulator Market Size Forecast by Type
9.10.1 dTMS
9.10.2 rTMS
9.11 Basis Point Share (BPS) Analysis by Type
9.12 Absolute $ Opportunity Assessment by Type
9.13 Market Attractiveness Analysis by Type
Chapter 10 Europe Transcranial Magnetic Stimulator Analysis and Forecast
10.1 Introduction
10.2 Europe Transcranial Magnetic Stimulator Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Transcranial Magnetic Stimulator Market Size Forecast by Application
10.6.1 Epilepsy
10.6.2 Depression
10.7 Basis Point Share (BPS) Analysis by Application
10.8 Absolute $ Opportunity Assessment by Application
10.9 Market Attractiveness Analysis by Application
10.10 Europe Transcranial Magnetic Stimulator Market Size Forecast by Type
10.10.1 dTMS
10.10.2 rTMS
10.11 Basis Point Share (BPS) Analysis by Type
10.12 Absolute $ Opportunity Assessment by Type
10.13 Market Attractiveness Analysis by Type
Chapter 11 Asia Pacific Transcranial Magnetic Stimulator Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Transcranial Magnetic Stimulator Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Transcranial Magnetic Stimulator Market Size Forecast by Application
11.6.1 Epilepsy
11.6.2 Depression
11.7 Basis Point Share (BPS) Analysis by Application
11.8 Absolute $ Opportunity Assessment by Application
11.9 Market Attractiveness Analysis by Application
11.10 Asia Pacific Transcranial Magnetic Stimulator Market Size Forecast by Type
11.10.1 dTMS
11.10.2 rTMS
11.11 Basis Point Share (BPS) Analysis by Type
11.12 Absolute $ Opportunity Assessment by Type
11.13 Market Attractiveness Analysis by Type
Chapter 12 Latin America Transcranial Magnetic Stimulator Analysis and Forecast
12.1 Introduction
12.2 Latin America Transcranial Magnetic Stimulator Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Transcranial Magnetic Stimulator Market Size Forecast by Application
12.6.1 Epilepsy
12.6.2 Depression
12.7 Basis Point Share (BPS) Analysis by Application
12.8 Absolute $ Opportunity Assessment by Application
12.9 Market Attractiveness Analysis by Application
12.10 Latin America Transcranial Magnetic Stimulator Market Size Forecast by Type
12.10.1 dTMS
12.10.2 rTMS
12.11 Basis Point Share (BPS) Analysis by Type
12.12 Absolute $ Opportunity Assessment by Type
12.13 Market Attractiveness Analysis by Type
Chapter 13 Middle East & Africa (MEA) Transcranial Magnetic Stimulator Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Transcranial Magnetic Stimulator Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Transcranial Magnetic Stimulator Market Size Forecast by Application
13.6.1 Epilepsy
13.6.2 Depression
13.7 Basis Point Share (BPS) Analysis by Application
13.8 Absolute $ Opportunity Assessment by Application
13.9 Market Attractiveness Analysis by Application
13.10 Middle East & Africa (MEA) Transcranial Magnetic Stimulator Market Size Forecast by Type
13.10.1 dTMS
13.10.2 rTMS
13.11 Basis Point Share (BPS) Analysis by Type
13.12 Absolute $ Opportunity Assessment by Type
13.13 Market Attractiveness Analysis by Type
Chapter 14 Competition Landscape
14.1 Transcranial Magnetic Stimulator Market: Competitive Dashboard
14.2 Global Transcranial Magnetic Stimulator Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Magstim; Neuronetics
14.3.2 MagVenture
14.3.3 Inc; TMS Neuro Solutions
14.3.4 Nexstim Plc
14.3.5 Inc
14.3.6 BrainsWay Ltd
14.3.7 eNeura