The global transcranial magnetic stimulator market is accounted for more than US$ 900 Mn in the year 2019
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Transcranial Magnetic Stimulators Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
Global transcranial magnetic stimulator market, By Type (Deep Transcranial Magnetic Stimulator (dTMS), Repetitive Transcranial Magnetic Stimulator (rTMS), Others), By Application (Alzheimer’s Disease, Depression, Parkinson’s Disease, Epilepsy, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
In 2019, the global transcranial magnetic stimulator market is accounted for more than US$ 900 Mn and expected to grow at a significant CAGR of 8.4% during the forecast period and expected to reach to the value of US$ XXX Bn in 2025.
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As per the report, the rising prevalence of neurological disorders among the population such as Alzheimer’s and Parkinson’s disease (PD) across the world is majorly contributing to the growth of the global transcranial magnetic stimulator market.
A medical non-invasive procedure using magnetic fields to stimulate nerve cells in the brain in order to cure the symptoms of depression is commonly known as transcranial magnetic stimulation (TMS).
The transcranial magnetic stimulator is also in enhancing the signs of other neurological disorders. Owing to which, the global transcranial magnetic stimulator market is expected to grow positively in the near future.
The growing geriatric population across the globe is also contributing to the rise in count of patients with neurological disorders, thus giving a positive push to the growth of the global transcranial magnetic stimulator market.
Notably, several different methods of brain stimulation are available including electroconvulsive therapy and deep brain stimulation techniques, however, currently, the transcranial magnetic stimulation technique is the most widely adopted method for brain stimulation across the world owing to the numerous benefits of transcranial magnetic stimulation (TMS) such as it does not require anesthesia, it is non-invasive, and well tolerated.
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Moreover, the hectic and desk-bound lifestyle of the population across the world in recent times is also causing serious disorders among the population such as stress, hypertension resultantly leading to depression, which subsequently propels the growth of the global transcranial magnetic stimulator market.
Additionally, in 2008, the FDA approved transcranial magnetic stimulation (TMS) for the treatment of depression, which also acts as a positive aspect for the rapid growth of the global transcranial magnetic stimulator market. In addition to that, the supportive remuneration and new and technologically enhanced products brought in by key manufacturers of the global market such as neuro-navigating stimulators is also augmenting the growth of the global transcranial magnetic stimulator market.
However, few factors such as clinically proven high efficiency of electroconvulsive therapy for the treatment of clinical depression and growing number of patients accepting the therapy may hamper the growth of the global transcranial magnetic stimulator market.
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MMC Study identifies some of the key participating players in the transcranial magnetic stimulator market globally are Axilum Robotics, Mastigm, Nexstim plc, Neuronetics, Inc., Brainsway Ltd., and TMS Neuro Solutions.
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