The market leader in 2021, repetitive transcranial magnetic stimulation, had a revenue share of more than 38.47%. The repetitive transcranial magnetic stimulator (rTMS), a non-invasive brain stimulation technique, uses an insulated coil to induce electromagnetic induction. The center of the coil, which is placed over the scalp, is a specific area of the brain that is thought to be crucial for mood regulation. The coil produces brief magnetic pulses that softly pass through the scalp and into the brain.
Data Bridge Market Research shows that the Transcranial Magnetic Stimulator Market accounted for USD 1141.92 million in 2021 and is expected to reach USD 2,258.71 million by 2029. The market is expected to grow with a CAGR of 8.90% from 2022 to 2029.
"Growing Focus of the Industry Players Will Aid Growth"
The majority of market participants are fortifying their market positions by introducing a wider range of technologically sophisticated products, mergers and acquisitions, and regional expansion into new areas. Transcranial magnetic stimulation system technological advances are predicted to generate sizable growth potential in the market, particularly for new technologies. For instance, the Deep Transcranial Magnetic Stimulation (Deep TMS) System was given marketing clearance by the U.S. FDA in August 2021. The approval enabled BrainsWay Ltd., a provider of cutting-edge non-invasive neurostimulation treatments for mental health disorders, to lessen the anxiety-depression comorbid symptoms in adult patients, also known as anxious depression.
What restraints the growth of the Transcranial Magnetic Stimulator Market?
"COVID-19 Negatively Impacted the Market "
COVID-19 has had a detrimental effect on the market, directly affecting demand and production, upsetting the supply chain, and increasing the financial burden on businesses. During the epidemic, neurological treatments were routinely postponed or canceled to stem the spread of COVID-19. Neurosurgical procedures decreased by 55% in the worst-affected countries, which included the United States, Russia, India, Brazil, France, the United Kingdom, Italy, and Spain. There is a chance that the COVID-19 virus will cause long-term health problems since it can impair the heart, lungs, and brain. According to growing data, the COVID-19 virus may be to blame for neurological symptoms like brain fog.
Segmentation: Transcranial Magnetic Stimulator Market
The transcranial magnetic stimulator market is segmented on the basis of type, application, age group and end-users.
- On the basis of type, the transcranial magnetic stimulator market is segmented into deep transcranial magnetic stimulator, repetitive transcranial magnetic stimulator and others.
- Based on application, the transcranial magnetic stimulators market is segmented into Alzheimer's disease, depression, Parkinson's disease, epilepsy and others.
- Basis of age group, the transcranial magnetic stimulators market is segmented into adults and children.
- On the basis of end- users, the transcranial magnetic stimulator market is segmented into research, diagnostics and therapeutics.
Regional Insights: North America is expected to dominate the Transcranial Magnetic Stimulator Market
North America is expected to dominate the market owing to the availability of knowledgeable and educated personnel, favorable reimbursement rules, and rising regional adoption of cutting-edge products. Important demographic trends, such as the rising elderly population, would benefit industry expansion. Chronic neurological diseases are more common in an aging population, which increases demand for TMS devices.
- In addition, the Asia-Pacific region is likely to register the highest growth rate during the forecast period of 2022 to 2029 because of expanding government efforts and increased medical tourism in the area.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-transcranial-magnetic-stimulator-market
Recent Developments in Transcranial Magnetic Stimulator Market
- In 2020, The FDA approved MagVenture TMS Treatment as an adjunctive therapy for obsessive-compulsive disorder (OCD). This is MagVenture, a Danish manufacturer of medical devices,' the second U.S. indication.
The Prominent Key Players Operating in the Transcranial Magnetic Stimulator Market Include:
- eNeura Inc. (U.S.)
- MagVenture, Inc. (Denmark)
- Neurosoft (Greece)
- Brainsway (U.S.)
- Magstim (U.K.)
- MAG & More GmbH (Germany)
- Neuronetics (U.S.)
- Nexstim (Finland)
- Zimmer Biomet (U.S.)
- Arthrex, Inc. (Germany)
- Smith+Nephew (U.K.)
- Stryker (U.S.)
- Medtronic (Ireland)
Above are the key players covered in the report, to know about more and exhaustive list of transcranial magnetic stimulator market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Transcranial Magnetic Stimulator Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
