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.
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.
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Here we have listed the top Transcranial Magnetic Stimulator (TMS) Market companies
BrainsWay Ltd; Nexstim; Magstim; Neuronetics; TMS Neuro Solutions; MagVenture, Inc.; eNeura Inc.; Neurosoft; MAG & More GmbH are among the leading companies operating in the transcranial magnetic stimulator (TMS) market.
Based on type, the transcranial magnetic stimulator (TMS) market is segmented 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 the forecast period.
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.
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).
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