Global Transcranial Magnetic Stimulator Market, By Type (Deep Transcranial Magnetic Stimulator, Repetitive Transcranial Magnetic Stimulator, Others), Application (Alzheimer’s disease, Depression, Parkinson’s disease, Epilepsy, Others), Age Group (Adults, Children), End-Users (Research, Diagnostics, Therapeutics) – Industry Trends and Forecast to 2029
Market Analysis and Size
Transcranial magnetic stimulator devices comprise a coil and a system for examining and detecting the effects of the therapy. The coils used in TMS are of various materials such as a coil made up of a magnetically active material (solid-core design) or magnetically inert material (air-core design) depending on the variations and biophysical characteristics needed. Rising prevalence of neurological disorders including schizophrenia and other disorders, surging geriatric population leading to increasing brain disorders associated with age is driving the market.
- Data Bridge Market Research analyses that the transcranial magnetic stimulator market is expected to grow at CAGR of 8.90% during the forecast period and is likely to reach USD 2,258.71 million at the end of the forecast period. “Repetitive Transcranial Magnetic Stimulator” is expected to be the fastest-growing segment as it has been proposed as the novel treatment for depression and anxiety, which enables direct stimulation of deeper and larger brain volumes (7-10). It is a non-invasive form of brain stimulation and does not require surgery or implantation of electrodes.
Market Definition
Transcranial magnetic stimulation (TMS) is a non-invasive process of brain stimulation that practices magnetic induction forces focusing on a critical area of the brain. The electromagnetic induction is produced from a coil using electricity and these pulses go through the cranium to its particular receptor area of the brain. Many different methods of brain stimulation are possible such as electroconvulsive therapy and deep brain stimulation techniques; however, currently, the transcranial magnetic stimulation technique (TMS) is the most broadly adopted method.
Transcranial Magnetic Stimulator Market Dynamics
Drivers
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Increasing cases of schizophrenia
Schizophrenia is a disease where the patient see some things that scare him and recently the cases of schizophrenia is rising and it driving the market.
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Rising ageing population
Number of old age people are on rise and now it’s a part of current population and it is driving the market.
Additionally, the, increasing awareness about transcranial magnetic stimulator among professionals and technological advancement in transcranial magnetic stimulator devices positively affect the transcranial magnetic stimulator market.
Opportunities
Furthermore, rising incidences of neurological disorders, such as Alzheimer’s and Parkinson’s disease (PD) will further expand the transcranial magnetic stimulator market's growth rate in the future.
Restraints/Challenges
On the other hand, growing shift towards electroconvulsive therapy are expected to obstruct market growth. Also, Hhgh price and lack of care are projected to challenge the transcranial magnetic stimulator market in the forecast period of 2022-2029.
This transcranial magnetic stimulator market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the transcranial magnetic stimulator market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Transcranial Magnetic Stimulator Market
The contagious coronavirus has a potential economic impact and implications on most of the sectors, including the medical device industries. Governments worldwide are now responding to the threat of COVID-19 with all the essential measures, such as social distancing, travel restrictions, and large-scale quarantines that are anticipated to impact the businesses and consumer spending negatively. The outbreak of COVID-19, resulted in decreased public mobility and have also impacted the therapeutic and surgical industry significantly, as the surgical procedures and screening programs, which are non-immediate and are being postponed to decrease the burden on healthcare infrastructure. Transcranial magnetic stimulator is a very complicated process that needs proper doctors and team to complete the process and because of COVID-19 it is making impossible to maintain a proper environment because of strict COVID-19 guidelines.
Recent Development
- In August 2020, MagVenture TMS Therapy received FDA clearance for the adjunct treatment of Obsessive compulsive disorder (OCD). It is the second indication in the US for the Danish medical device company MagVenture .
Global Transcranial Magnetic Stimulator Market Scope
The transcranial magnetic stimulator market is segmented on the basis of type, application, age group and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Deep transcranial magnetic stimulator
- Repetitive transcranial magnetic stimulator
- Others
On the basis of type, the transcranial magnetic stimulator market is segmented into deep transcranial magnetic stimulator, repetitive transcranial magnetic stimulator and others.
Application
- Alzheimer’s disease
- Depression
- Disease
- Epilepsy
- Other
Based on application, the transcranial magnetic stimulators market is segmented into Alzheimer’s disease, depression, Parkinson’s disease, epilepsy and others.
Age Group
- Adults
- Children
Basis of age group, the transcranial magnetic stimulators market is segmented into adults and children
End- users
- Research
- Diagnostics
- Therapeutics
On the basis of end- users, the transcranial magnetic stimulator market is segmented into research, diagnostics and therapeutics
Transcranial Magnetic Stimulator Market Regional Analysis/Insights
The transcranial magnetic stimulator market is analysed and market size insights and trends are provided by country, type, age group, application and end user as referenced above.
The countries covered in the transcranial magnetic stimulator market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the transcranial magnetic stimulator market due to availability of skilled and trained professionals, favourable reimbursement policies and increasing adoption of advanced products within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to increasing government initiatives and growing medical tourism in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The transcranial magnetic stimulator market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for transcranial magnetic stimulator market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the transcranial magnetic stimulator market. The data is available for historic period 2010-2020.
Competitive Landscape and Transcranial Magnetic Stimulator Market Share Analysis
The transcranial magnetic stimulator market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to transcranial magnetic stimulator market.
Some of the major players operating in the transcranial magnetic stimulator market are eNeura Inc., MagVenture A/S, Neurosoft, Brainsway, The Magstim Company Limited, MAG & More GmbH, Neuronetics, Nexstim, Axilum Robotics, neuroCare Group GmbH, Zimmer Biomet, Bioventus, Synergy Orthopedics, Ito Co., Ltd., DePuy Synthes, DJO Global, Ossatec Benelux BV, Orchid Medical Centre, TERUMO BCT, INC., Isto Biologics,, Arthrex, Inc., Smith & Nephew, Stryker, Medtronic, Orthofix Holdings, Inc., Ember Therapeutics among others.
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