A transcranial magnetic stimulator uses electromagnetic induction to induce weak electric currents in specific areas of the brain through the intact scalp and skull. It is used for neuromodulation of cortical and sub-cortical brain areas in neurological and psychiatric disorders.
Market Dynamics:
The transcranial magnetic stimulator market is driven by growing adoption for treatment of neurological disorders such as depression, Parkinson's disease, Alzheimer's disease, and chronic pain. According to the World Health Organization (WHO), over 350 million people are estimated to suffer from depression worldwide. Further, increasing research funding for neuroscience is also contributing to the market growth. For instance, the National Institute of Mental Health funds over $1.5 billion annually in the U.S. for research on brain and behavior. Additionally, introduction of novel products by key players will further aid in the expansion of the global transcranial magnetic stimulator market over the forecast period.
Rising Prevalence of Neurological and Psychiatric Disorders is Driving Transcranial Magnetic Stimulator Market Growth
The transcranial magnetic stimulator market is experiencing high growth due to the rising prevalence of neurological and psychiatric disorders globally. Neurological disorders such as epilepsy, Alzheimer's disease, Parkinson's disease, depression, and migraine among others have grown significantly in recent years. Transcranial magnetic stimulators are widely being used for treatment-resistant depression and other neurological and mental health conditions. The growing awareness about these effective non-invasive conditions and rising healthcare expenditure is also fueling the adoption of TMS therapy.
Increasing Research and Development Activities for Advancement in TMS Technology
Players in the TMS market are increasingly investing in R&D activities to develop more efficient and novel TMS devices.Technological advancement has led to improved features such as better magnetic field generation, treatment duration reduction, portability of devices among others. Neuromodulation companies are focusing on developing multi-coil TMS devices for treating complex brain disorders. They are also engaged in clinical research for evaluating the efficacy of TMS for other indications such as Alzheimer's, chronic pain, addiction, and PTSD. This growing emphasis on R&D is driving innovation and expanding the potential applications of transcranial magnetic stimulation therapy.
Stringent Regulatory Framework is a Key Restraining Factor for the Transcranial Magnetic Stimulator Market
TMS devices are subject to stringent regulatory standards set by authorities such as the US FDA and EU Notified Bodies. Transcranial magnetic stimulation devices are classified as class III medical devices under the US FDA and fall under special controls. Obtaining regulatory clearance for new devices and applications involves extensive clinical testing and documentation. Significant compliance requirements increase the cost and timelines for market approval. Manufacturers have to comply with standards such as IEC 60601-1, IEC 60601-2-37 during product development, testing and manufacturing which increases the overall costs. The stringent regulatory environment acts as a major restraining factor for the TMS market.
Rising Demand for Home Healthcare and Portable Devices Presents Lucrative Opportunities
There is growing demand for home-based and portable TMS devices due to increasing preference for home healthcare among patients and healthcare providers. Conventional TMS therapy requires daily visits to clinics or hospitals that can be inconvenient. This presents significant opportunities for companies to develop portable TMS devices and solutions that can enable home treatment. This will help in improved accessibility and adherence to therapy. Further, home use TMS devices are more cost-effective compared to hospital-based treatments.Companies are investing in designing small, lightweight TMS coils and battery-powered stimulators for home use. The rising demand for home healthcare and patient convenience is expected to create lucrative growth opportunities.
Adoption of Multi-Coil Magnetic Stimulation is the Key Trend in the Market
Equipment manufacturers are increasingly focusing on developing multi-coil TMS devices to overcome the limitations of conventional single coil TMS systems. The use of multiple coils allows for better targeting of deep brain regions and stimulation of broader brain regions simultaneously. Advanced multi-coil technologies such as H-coils, figure-8 coils, and deep TMS coils have significantly enhanced the clinical outcomes.Deep TMS using H-coils has proven effective for treatment-resistant depression by stimulating deeper cortical and sub-cortical regions of the brain.The adoption of these multi-coil magnetic stimulation techniques is expected to be a major trend revolutionizing the TMS treatment landscape in the coming years. This will further expand the clinical applications of TMS therapy into other neurological conditions.
The global Transcranial Magnetic Stimulator Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the transcranial magnetic stimulator market include Brainsway, Dr. Langer Medical, eNeura, MAG & More, Magstim, MagVenture, Neuronetics, Neurosoft, Nexstim, Remed, Yiruide, S. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Transcranial Magnetic Stimulator Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/transcranial-magnetic-stimulator-market/download-sampleMarket DynamicsMajor factors that are responsible for boosting the growth of the market over the forecast period are rising pervasiveness of neurological issue including schizophrenia and different issue, flooding geriatric populace prompting expanding cerebrum issue related with age, developing utilizations of the transcranial attractive incitement strategy in conclusion and treatment of the neurological problem, good repayments, and new and mechanically propelled items presented by producers, for example, neuro-exploring triggers in the worldwide market.
However, more patients choosing electroconvulsive therapy can create problems for the growth of the market.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.Additionally, these tools also give inclusive assessment of each segment in the global market of transcranial magnetic stimulator.Browse Global Transcranial Magnetic Stimulator Market Research Report with detailed TOC at https://www.valuemarketresearch.com/report/transcranial-magnetic-stimulator-marketMarket SegmentationThe report segments the transcranial magnetic stimulator market and analyses it with respect to the geography, intending to keep the marketer informed and help them identify the target demographics for the product or service.By TypeSingle pulse transcranial magnetic stimulatorsRepetitive pulse transcranial magnetic stimulatorsBy ApplicationTinnitusAlzheimerParkinson’s DiseasePsychiatric DisordersStrokeOthersRegional AnalysisThis section covers regional segmentation which accentuates on current and future demand for transcranial magnetic stimulator market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Further, the report focuses on demand for individual application segment across all the prominent regions.Purchase Complete Global Transcranial Magnetic Stimulator Market Research Report at https://www.valuemarketresearch.com/contact/transcranial-magnetic-stimulator-market/buy-nowAbout Us:Value Market Research was established with the vision to ease decision making and empower the strategists by providing them with holistic market information.We facilitate clients with syndicate research reports and customized research reports on 25+ industries with global as well as regional coverage.Contact:Value Market Research401/402, TFM, Nagras Road, Aundh, Pune-7.Maharashtra, INDIA.Tel: +1-888-294-1147Email: [email protected]: https://www.valuemarketresearch.com
The new report by Expert Market Research titled, ‘Global Transcranial Magnetic Stimulator Market Report and Forecast 2021-2026’, gives in-depth analysis of the global transcranial magnetic stimulator market, assessing the market based on its segments like type, application, and major regions.
The sample report shall be delivered to you within 24 hours.Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/transcranial-magnetic-stimulator-market-report/requestsampleThe key highlights of the report include:Market Overview (2016-2026):Historical Market Size (2020): USD 962.5 MillionForecast CAGR (2021-2026): 9%Forecast Market Size (2026): USD 1614 MillionDuring the forecast years, the industry is projected to expand due to an increase in the prevalence of neurological disorders.
This factor will have a long-term positive effect on industry development, as the prevalence of neurological disorders will drive up demand for transcranial magnetic stimulators.Industry Definition and Major SegmentsTMS (transcranial magnetic stimulation) is a non-invasive brain stimulation technique that uses magnetic induction forces to stimulate a specific region of the brain.
Electricity is used to induce electromagnetic induction, and these signals pass through the cranium to a specific receptor region of the brain.Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/transcranial-magnetic-stimulator-market-reportBased on type, the industry can be divided into:Deep TranscranialRepetitive TranscranialOthersThe industry can be broadly categorised based on its applications into:Alzheimer's DiseaseParkinson's DiseaseDepressionEpilepsyOthersBased on region, the market is segmented into:North AmericaEuropeAsia PacificLatin AmericaMiddle East and AfricaMarket TrendsThe rising prevalence of neurological disorders such as schizophrenia and other disorders, the growing geriatric population leading to an increase in brain disorders associated with age, and the applications of the transcranial magnetic stimulation technique in the diagnosis and treatment of neurological disorders are expected to drive the transcranial magnetic stimulators market during the forecast period.
Because of factors such as a large patient population suffering from depression and other psychological and neurological disorders, an increasing number of devices obtaining regulatory approvals, rising demand for new and advanced stimulators, and favourable reimbursement policies, North America is expected to dominate the global transcranial magnetic stimulators market.
However, the market for transcranial magnetic stimulators in Asia Pacific is expected to grow due to an increase in the incidence of psychological disorders in the region, rising health-care spending, and increased demand for new techniques to treat these disorders.Key Market PlayersThe major players in the market are Brainsway Ltd. (TLV: BWAY), Magstim, Nexstim, Inc, NeuroCare Group GmbH, MagVenture, Inc., eNeura Inc., among others.
