Transcranial Magnetic stimulators Market to accrue $130 Mn by 2024

September 30, 2019

As per the latest research report available with Market Study Report LLC under the title ‘Global Transcranial Magnetic Stimulators (TMS) Market Growth 2019-2024’, the worldwide transcranial magnetic stimulators (TMS) market is anticipated to accrue US $130 million by the year 2024.

Transcranial magnetic stimulators are applied in medical procedure in which the device is placed near the patient’s brain and uses magnetic pulses to stimulate small areas in brain. The field used is electromagnetic in nature as it is generated by passing electric current through a coil.

TMS diagnose the connection between the muscles and brain to measure the damage done by amyotrophic lateral sclerosis, stroke, movement disorders, multiple sclerosis, injuries, motor neuron diseases, and other such disorders. Growing cases of these ailments and advancements in medical technology are driving the growth of transcranial magnetic stimulators market.

As cited in the report, the global TMS market was worth US $71 million in 2019 and is projected to register a growth rate of 10.4% over the analysis timeline. The report also provides thorough understanding regarding the trends, segmental share, opportunities, drivers, distribution channels, consumer spectrum, challenges, and marketing strategies influencing the market expansion.

Based on the type, TMS market is fragmented as sTMS, pTMS, nTMS, and rTMS. While on the basis of application spectrum, the market is segmented into parkinsons’s disease, depression, headache, tinnitus, stroke, Alzheimer, and psychiatric disorders. However, depression segment dominated TMS market and held 20% share in 2017.

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Considering the geographical contribution, North America TMS market held 32.3% consumption share and 32% production share in 2017. While Europe transcranial magnetic stimulators market contributed 26.9% and 38.5% towards global consumption and production share, respectively. Other regions aiding the market growth are Asia Pacific, Middle East & Africa, and Central & South America.

The key players of transcranial magnetic stimulators market profiled in the report include MAG & More, Yiruide, Dr. Langer Medical, Neuronetics, Nexstim, Brainsway, Magstim, Remed, MagVenture, eNeura, and Neurasoft.