Transcranial Magnetic Stimulation System Market (By Type (Deep Transcranial Magnetic Stimulator (dTMS); By Application; By Age Group) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global transcranial magnetic stimulation system market was surpassed at USD 1.07 billion in 2021 and is expected to hit around USD 2.46 billion by 2030, growing at a CAGR of 9.69% from 2022 to 2030.

Report Highlights

• Repetitive transcranial magnetic stimulation led the market and accounted for more than 38.5% share of the global revenue in 2021. 
• The adults the market and accounted for more than 58.79% share of the global revenue in 2021. 
• The children segment is anticipated to witness the fastest growth over the forecast period. 
• North America dominated the market with the largest revenue share of over 40.3% in 2021. 
• The Asia Pacific region is estimated to register the highest CAGR over the forecast period. 

The transcranial magnetic stimulation system market is expected to grow owing to the increasing prevalence of neurological diseases such as Parkinson's Disease, Alzheimer's Disease, and other neurological problems, along with the increasing technological advancements.

According to FDA in October 2020, due to the COVID-19 public health emergency, there has been a short term negative impact on the market. The decrease was primarily driven by a lower number of transcranial magnetic stimulation systems sold in the quarter. For instance, Neuronetics, Inc. sold 38 systems, down from 43 systems in the first quarter of 2019 as a result of the impact of COVID-19. However, as of March 2020, the active unit installed base in the U.S. was 1,119. This represents an increase of 188 units, or 20%, over the active unit installed base as of March 31, 2019, and an increase of 34 units over the active installed base as of December 31, 2019.            

Companies are constantly launching new products in the existing market to expand their product portfolio and increase the revenue of the company. For instance, in July 2022, according to Neuronetics, the FDA approved their NeuroStar Advanced Therapy for Mental Health transcranial magnetic stimulation device for treating anxiety symptoms in people with major depressive disorder. Additionally, the FDA approved the transcranial magnetic stimulation (TMS) system as an additional form of treatment for people with OCD. The non-drug, non-invasive therapy is the first TMS system for depression to receive FDA approval. The transcranial magnetic stimulation system market is predicted to increase at a high rate as a result of these advancements.

Scope of The Report

Type Insights

Repetitive transcranial magnetic stimulation led the market and accounted for more than 38.5% share of the global revenue in 2021. A non-invasive brain stimulation method called repetitive TMS (rTMS) relies on electromagnetic induction through the use of an insulated coil. A specific region of the brain thought to be essential for mood control is the focus of the coil, which is positioned across the scalp. Short magnetic pulses generated by the coil go through the scalp gently to the brain. The generated pulses resemble those produced by MRI devices. Rapid-successive administration of these pulses is known as rTMS, which can cause longer-lasting changes in brain activity.

Deep transcranial magnetic stimulation segment is expected to expand at the highest CAGR during the forecast period. Deep transcranial magnetic stimulation is a non-invasive and non-drug treatment method for patients suffering from depression. dTMS, along with H1 coil, is approved by the FDA for the treatment of patients with treatment-resistant depression. This is the safest treatment option with minimal or no risk/side effects. The usual treatment course involves sessions of 20 minutes 5 days per week for 4 to 6 weeks. This procedure can be easily integrated into a patient's routine.

Application Insights

The other led the market and accounted for more than 41.5% share of the global revenue in 2021. The conditions analyzed under this segment include Schizophrenia, Multiple sclerosis, Autism, and Bipolar disorder. Healthcare providers recommend rTMS for patients with negative symptoms, such as lack of speech and flattened emotional response. In most studies, 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 are anticipated to propel the segment growth.

The depression segment is anticipated to witness the fastest growth during the forecast period. Depression is a type of mood disorder, which may be defined as feeling lost, sad, or angry and it interferes with everyday activities of a patient. As per the CDC, within any given 2-week period, 8.1% of adults in the U.S. (aged 20 & above) suffered from depression from 2013 to 2016. Depression affects each individual differently. It could impact daily work, reduce productivity, create chronic health conditions, and negatively impact personal relationships.

Various chronic conditions that may get worse with depression are: cardiovascular conditions, Diabetes, Obesity, Asthma, Cancer, and Arthritis. Depression symptoms varies from mild to severe and can lead to different physical & emotional conditions, impacting an individual’s ability to handle situations at home & work. Early symptoms of depression vary in men, women, and children.

Age Group Insights

The adults the market and accounted for more than 58.79% share of the global revenue in 2021. Epilepsy is becoming more common in developing countries, which has increased the demand for affordable, efficient treatment alternatives with long-term advantages. In turn, it is projected that this will fuel market expansion in the upcoming years. In the U.S, 3 million adult will have active epilepsy in 2021, according to the CDC. Increased community awareness, favorable laws and regulations, and government actions will drive the segment growth in near future. Additionally, all of the political and regulatory elements are covered, indicating the attractive chances for the major firms to enter these markets. Growing knowledge of cutting-edge epilepsy treatment options and expanding healthcare infrastructure are anticipated to further propel segment growth.

The children segment is anticipated to witness the fastest growth over the forecast period. The factors driving the growth of the market are surge in incidence of neurological disorders, growing awareness about the Transcranial Magnetic Stimulator (TMS), and improving healthcare infrastructure in emerging economies. In addition, supportive government policies and laws of the countries are boosting the growth of the segment. Moreover, some countries have supportive reimbursement policies which is anticipated to increase the sales of the Transcranial Magnetic Stimulator (TMS) in those regions. Increase in the prevalence of mental disorders such as depression and high requirement of mental health services among children are some factors expected to drive market growth. According to Youth Mental Health Canada, only 9% of the healthcare budget in Canada is spent on mental health. Thus, limited spending on mental healthcare is impeding market growth.

Regional Insights

North America dominated the market with the largest revenue share of over 40.3% in 2021. The significant investments by governments for the development of innovative medical devices, presence of key participants, and the presence of a favorable reimbursement scenario are supplementing the growth of the market in the region. Due to the rising incidence of chronic kidney diseases (CKD), there is increasing demand for home dialysis. Presence of streamlined processes, such as hospital admissions and claiming reimbursements, in healthcare facilities and availability of integrated healthcare IT products to maintain Electronic Health Records (EHRs) are some of the factors responsible for the largest revenue share held by this region. Strategies adopted by companies for launch of products are anticipated to increase the competition in the market.

The Asia Pacific region is estimated to register the highest CAGR over the forecast period. Rising focus of companies on expanding their presence in this region and growing demand for Transcranial Magnetic Stimulation System are expected to drive the market growth. In addition, rising research and development activities, increasing healthcare expenditure, and easy availability of low-cost healthcare IT products are also anticipated to drive the market growth. As manufacturers in Asia Pacific region are focusing on the development of low-cost products with higher efficiency, the market is anticipated to witness significant growth over the forecast period. In addition, global players are investing in local companies as raw materials and labor are available at lower costs in countries of Asia Pacific.

Key Players

• BrainsWay Ltd.
• Nexstim Plc.
• Magstim
• Neuronetics, Inc.
• TMS Neuro Solutions
• MagVenture, eNeura, Inc.

Market Segmentation

• By Type Outlook

• Deep Transcranial Magnetic Stimulator (dTMS)
• Repetitive Transcranial Magnetic Stimulator (rTMS)
• Others
• By Application Outlook
• Alzheimer's Disease
• Depression
• Parkinson's Disease
• Epilepsy
• Others
• By Age Group Outlook
• Adults
• Children
• By Regional Outlook
• North America

• U.S.
• Canada
• Europe
• U.K.
• Germany
• 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