The global Transcranial Magnetic Stimulators Market is forecast to reach USD 1.82 Billion by 2027, according to a new report by Reports and Data. Transcranial magnetic stimulation is a non-invasive surgery widely used for the treatment of the brain and neurological diseases. It uses a magnetic field to stimulate nerve cells in the brain and reduce chronic pain.
The demand for the transcranial magnetic stimulator has increased owing to the rising prevalence of neurological diseases. Increase in awareness regarding health, growing population, and changing lifestyle has further driven the market for transcranial magnetic stimulation. Neurological and mental disorders are becoming quite common across the globe, owing to the increased life expectancy and rapidly changing lifestyle.
There are several medical factors influencing the growth of the transcranial magnetic stimulator market directly. Neurological disorders are the leading cause of disability and death across the globe currently. Increase in the patient suffering from Alzheimer’s, Multiple Sclerosis, Cerebrovascular, Parkinson’s, and Epilepsy, provide ample growth opportunities for the market.
Europe is the second-largest market witnessing moderate growth for the transcranial magnetic stimulator market. The governments in Europe are coming up with some of the initiatives to educate and to raise awareness regarding the neurological diseases. One of the initiatives, such as the European Parkinson’s Disease Association, is actively supporting research and development by campaigning to generate awareness and provide medication to patients.
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Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.
Top Players in the Global Transcranial Magnetic Stimulators Market:
Brainsway, eNeura, MagVenture, Neurosoft, Dr. Langer Medical, MAG & More, Remed, Nexstim, Yiruide, and Neuronetics Inc., among others.
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Transcranial Magnetic Stimulators Market Segmentation:
Type Outlook (Revenue, USD Million; 2016-2027)
- Deep Transcranial Magnetic Stimulator (dTMS)
- Repetitive Transcranial Magnetic Stimulator
Application Outlook (Revenue, USD Million; 2016-2027)
- Alzheimer’s Disease
- Parkinson’s Disease
- Depression Disease
- Epilepsy Disease
End-User Outlook (Revenue, USD Million; 2016-2027)
- Hospitals
- Ambulatory Surgical Centers
- Clinics
Key Regional Markets Studied in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Major Highlights of the Transcranial Magnetic Stimulators Market Report:
- The Transcranial Magnetic Stimulators market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Transcranial Magnetic Stimulators market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
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