According to a recent report by Reports and Data, the global transcranial magnetic stimulators market is expected to grow at a value-based rate of 8.3% from 2019 to reach USD 1.82 Billion by 2027. These stimulators, resembling the size of a mini-fridge, are equipped with a power cable and various controls to adjust stimulation parameters, such as the number of pulses, pulse frequency, and pulse intensity. The stimulator includes a coil, shaped like one or more loops, which is positioned over the head for targeted stimulation. This can be done either through a mechanical arm or manually by the operator.
The demand for transcranial magnetic stimulators is driven by factors such as the mounting stress of busy work-life schedules and the increasing number of patients suffering from depression. Neurological disorders can arise from various medical causes, including infections, congenital abnormalities or disorders, brain surgery, nerve or spinal cord injuries, and lifestyle or environmental health issues like malnutrition. Additionally, the International Journal of Epidemiology suggests that genetic disorders are also significant contributors to the occurrence of neurological disorders worldwide.
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Companies considered and profiled in this market study
Brainsway, eNeura, MagVenture, Neurosoft, Dr. Langer Medical, MAG More, Remed, Nexstim, Yiruide, and Neuronetics Inc., among others.
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The Transcranial Magnetic Stimulators Market is driven by several factors, including:
- Increasing prevalence of neurological disorders: The rising incidence of neurological disorders, such as depression, anxiety, Alzheimer's disease, Parkinson's disease, and stroke, is driving the demand for transcranial magnetic stimulators. These devices are used as non-invasive treatment options for these conditions.
- Growing awareness and acceptance of non-invasive treatment modalities: Transcranial magnetic stimulators offer a non-invasive alternative to traditional treatment methods for neurological disorders. As awareness about the benefits of non-invasive treatments increases and acceptance grows among patients and healthcare professionals, the demand for transcranial magnetic stimulators is expected to rise.
- Technological advancements in transcranial magnetic stimulation: The continuous advancements in transcranial magnetic stimulation technology, such as improved coil designs, precise targeting capabilities, and customizable stimulation parameters, are driving the market growth. These advancements enhance the effectiveness and safety of transcranial magnetic stimulation procedures.
However, the Transcranial Magnetic Stimulators Market also faces certain restraints, including:
- Limited reimbursement coverage: In some regions, reimbursement coverage for transcranial magnetic stimulation procedures may be limited or non-existent. This can hinder the adoption of transcranial magnetic stimulators, particularly in healthcare systems with restrictive reimbursement policies.
- High cost of transcranial magnetic stimulators: Transcranial magnetic stimulator devices can be expensive, making them less accessible, especially in regions with limited healthcare budgets. The high cost of these devices can limit their adoption and restrict market growth.
- Lack of widespread clinical evidence: While transcranial magnetic stimulation has shown promising results in treating certain neurological disorders, the availability of comprehensive clinical evidence across various indications is still evolving. The limited evidence base may impact the adoption of transcranial magnetic stimulators, particularly among cautious healthcare providers.
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One notable innovation in the Transcranial Magnetic Stimulators (TMS) market is the development of deep transcranial magnetic stimulation (TMS) technology. This innovation allows for the non-invasive stimulation of deeper regions of the brain, beyond the superficial cortex, opening up new possibilities for therapeutic applications.
Traditionally, TMS has been primarily used to stimulate the superficial areas of the brain involved in mood disorders and neurological conditions. However, with the advent of TMS technology, it is now possible to target and stimulate deeper brain structures associated with a wider range of neurological and psychiatric disorders.
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