Transcranial Magnetic Stimulator Market Size & Report

Transcranial Magnetic Stimulator Market Size & Analysis Report, By Type (dTMS, rTMS, Others,), By Application (Depression, Epilepsy), By Region, And Segment Forecasts, 2019 - 2026

  • Published Date: Jul, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-991-3
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 163

Industry Insights

The transcranial magnetic stimulator market size was valued at USD 883.38 million in 2018 and is anticipated to reach at a CAGR of 8.8% by 2026. Increase in number of neurological diseases such as Alzheimer’s disease, Parkinson’s disease, and increasing awareness for transcranial magnetic stimulators among professionals are few factors driving the market.

The transcranial magnetic stimulators is a non-invasive technique which applies magnetic pulses to the brain that uses magnetic field to reduce chronic pain and stimulate nerve cells in the brain. It improve symptoms of neurological disorders. TMS is mainly used in patients who do not respond to medication and therapies. Many health professionals report positive outcome by this treatment. This treatment is mainly avoided for patients who have a history of seizures or those who have a metal plate in their head.

U.S. Transcranial Magnetic Stimulators Market

One of the major factors that drive the market is increasing awareness about the treatment. It includes factors such as physicians recommending TMS for the patients who do not respond to the treatment of antidepressants medication and therapy. It is a method where electrical current is persuaded in the brain by a powerful magnetic field. Several TMS are approved by the U.S. FDA. In addition, to the awareness factor TMS is new amongst neurostimulation technologies that have been applied in epilepsy as a diagnostic and therapeutic tool.

TMS has been researched as an intervention for people with AD. Increasing prevalence of Alzheimer’s disease (AD) include the factors such as mortality and morbidity, cost of care, and overall impact on care givers and society. According to a report by science direct, in 2018, 5.8 million of the U.S population have Alzheimer's dementia. Alzheimer’s is the sixth leading cause of death in U.S as the number of geriatric populations is increasing. Thus, the increasing prevalence of AD will drive the market growth.

Increasing prevalence of Parkinson’s Disease (PD) include the factors such as low dopamine levels and genetic factors. According to Parkinson’s Foundation, around 1 million population will be having PD in the U.S. by 2020. Men are more likely to be diagnosed with PD than women. Risk factor for PD mainly depends on age, sex, heredity and exposures to toxins. Thus, this factor is anticipated to drive the market growth of TMS.

Type insights

Deep Transcranial Magnetic Stimulation (dTMS) segment is one of the fastest growing segments in the forecast period owing to increasing incidence of Major Depressive Disorder (MDD), increasing awareness about the treatment, and increasing disability due to neurological disorders. Deep Transcranial Magnetic Stimulation (dTMS) is a novel technology that allows non-surgical and non- invasive stimulation of deep brain areas.

Repetitive Transcranial Magnetic Stimulation (rTMS) dominated the TMS market in the forecast period owing to the factor that it has been proposed as novel treatment which enables direct stimulation of deeper and larger brain volumes (7-10). It’s a non-surgical form of brain stimulation technology which does not require surgery or implantation of electrodes. In addition, it has been investigated in that psychiatric disorder including unipolar depression, schizophrenia and bipolar disorder. Thus, increasing application of rTMS and preference by physicians is contributing towards the market growth.

Application insights

Depression is one of the fastest growing segments owing to the factors such as global leading cause of disability and 10th leading cause of early death. According to WHO, more than half of with depression are receiving treatment such as medication and therapies. According to Mental Health America (MHA), around half of U.S. population have a mental health condition which include Major Depressive Disorder (MDD).

Others segment dominate the transcranial magnetic stimulator market. Others segment include neurological diseases such as autism, schizophrenia, and bipolar disorder. It’s a severe mental and chronic disorder that affects people’s thinking and behavioral activities. Psychiatrist recommends rTMS for the patients who have negative symptoms such as lack of speech and flattened emotional response. In most of the researches, schizophrenia affects men and women equally, but it is more likely to develop in males. It is mainly caused by genetic and environmental factors. Thus, increasing symptoms of diseases such as schizophrenia, multiple sclerosis, autism and bipolar disorder dominate the market growth.

Transcranial Magnetic Stimulators Market

As per the application segment, Epilepsy is one of the chronic non communicable disease of brain that affect people of all ages. According to World Health Organization (WHO), it affects more than 50 million people worldwide. Each year, around 2.4 million population are diagnosed with epilepsy. Annual new cases of epilepsy in high income countries are between 30 and 50 per 1,00,000 in general population. According to WHO, in 2019, risk of premature death in people with epilepsy is up to three times higher than in general population. Thus, its increasing rate led the fastest growth of segment in transcranial magnetic stimulators market.

Regional insights

North America is accounted for the largest share and is expected to witness substantial growth in future as well due to increasing prevalence of psychological disorders, increasing awareness, availability of highly skilled physicians and presence of well-established healthcare facilities in the region. Moreover, adoption of technologically advanced medical types at a faster rate is also expected to drive the transcranial magnetic stimulator (TMS) market. In addition, increasing funding by government for research and development activities for innovations in devices and surgical procedures is positively affecting the growth of market.

Asia Pacific is expected to grow at the highest CAGR in future due to increase in number of neurological disorders, increasing government initiatives and various awareness programs by the NGOs are fueling the market growth in the region. Presence of large number of key players in economies, such as China and Japan is majorly driving the market. Rise in cases of MDD and disability due to depressive episodes is yet another key driver of the market.

Transcranial Magnetic Stimulator Market Share Insights

The major players in the industry comprise Brainsway Ltd., Nexstim Plc, Magstim, Neuronetics Inc., TMS Neurosolutions, Mag Venture, eNeura Inc. These players in the market are focusing on launch of new types of TMS, technological advancements, and growth strategies, such as mergers and acquisitions. For instance, in September 2017, eNeura Inc., received FDA approval for eNeura spring TMS which is designed for prophylactic and acute treatment of migraine headache.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2026

Market representation

Revenue in USD Million & CAGR from 2019 to 2026

Regional scope

North America, Europe, Asia Pacific, Latin America, & MEA

Country scope

U.S., Canada, UK, Germany, France, Italy, Spain, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, Colombia, South Africa, Saudi Arabia, & UAE.

Report coverage

Revenue, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global transcranial magnetic stimulator market report on the basis of type, application, and region:

  • Type Outlook (Revenue, USD Million, 2015 - 2026)

    • Deep Transcranial Magnetic Stimulation (dTMS)

    • Repetitive Transcranial Magnetic Stimulation (rTMS)

    • Others

  • Application Outlook (Revenue, USD Million, 2015 - 2026)

    • Alzheimer’s Disease

    • Depression

    • Parkinson’s Disease

    • Epilepsy

    • Others

  • Regional Outlook (Revenue, USD Million, 2015 - 2026)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East and Africa (MEA)

      • South Africa

      • Saudi Arabia

      • UAE

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