Report

The global transcranial magnetic stimulator market was valued at USD 1.30 Billion in 2024, driven by the increasing prevalence of neurological diseases like Alzheimer's and Parkinson's (PD) across the globe. The market is anticipated to grow at a CAGR of 9.60% during the forecast period of 2025-2034 to achieve a value of USD 3.25 Billion by 2034.

Transcranial Magnetic Stimulator Market Overview

A transcranial magnetic stimulator (TMS) is a non-invasive device that uses electromagnetic fields to stimulate nerve cells in the brain. It delivers pulsed magnetic fields through a coil placed on the scalp, inducing electrical activity in targeted brain regions. TMS is primarily used for neurological and psychiatric disorders, including depression, anxiety, and chronic pain. It is FDA-approved for treatment-resistant depression and is being explored for conditions like stroke rehabilitation and Parkinson's disease. TMS is considered safe and well-tolerated, offering a non-pharmaceutical alternative for brain modulation and mental health treatment.

Transcranial Magnetic Stimulator Market Growth Drivers

Advancements in TMS Technology to Drive Market Expansion

The increasing prevalence of mental health disorders and growing regulatory approvals are key drivers of the market. Expanding applications in adolescent and adult mental health treatments further support market growth. For instance, in November �2024, Magstim received FDA clearance for its Horizon Inspire System, a next-generation TMS technology designed to treat major depressive disorder (MDD), obsessive-compulsive disorder (OCD), and anxious depression. This regulatory approval enhances treatment accessibility and supports further technological advancements. As healthcare providers adopt innovative TMS solutions, the market is expected to experience significant growth, with more clinicians, researchers, and mental health professionals integrating these systems into clinical practice.

Surge in Regulatory Approvals to Expand Transcranial Magnetic Stimulator Market Value

Regulatory support and growing clinical validation are accelerating TMS adoption across wider patient demographics. For instance, in March �2024, Neuronetics, Inc. secured FDA approval for its NeuroStar Advanced Therapy as an adjunct treatment for MDD in adolescents aged 15-21. This approval makes NeuroStar the first FDA-cleared TMS treatment for this age group, significantly expanding its market reach. With rising mental health concerns in younger populations and increasing demand for alternative treatments, this development is expected to drive market expansion by enabling broader patient access and supporting continued innovation in TMS therapies.

Transcranial Magnetic Stimulator Market Trends

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Technological Advancements to Drive Market Growth

The market is witnessing rapid technological advancements, enhancing treatment precision and efficacy. Innovations such as deep TMS (dTMS) and neuronavigation-guided systems improve stimulation depth and targeting accuracy. The integration of artificial intelligence (AI) in treatment planning further optimises therapy outcomes. Additionally, the development of portable and home-based TMS devices is expanding accessibility. These advancements are encouraging broader adoption in psychiatric and neurological applications, fostering market growth. Continuous R&D investments and regulatory approvals for new indications will further propel the market, making TMS a more effective and widely accepted neuromodulation therapy.

Increasing Prevalence of Psychiatric and Neurological Disorders to Influence the Transcranial Magnetic Stimulator Market Size Positively

The growing prevalence of psychiatric and neurological disorders is driving the demand for TMS therapy. A 2021 Lancet Neurology study , supported by the World Health Organization, revealed that over 3 billion people worldwide suffer from neurological conditions. With rising cases of major depressive disorder, obsessive-compulsive disorder, and Parkinson's disease, non-invasive neuromodulation techniques like TMS are gaining traction. Regulatory approvals for expanded clinical indications are broadening its therapeutic scope. Increasing awareness among healthcare professionals and patients, along with favourable insurance coverage, is accelerating adoption. Moreover, ongoing research into using TMS for cognitive enhancement and Alzheimer's disease treatment is further strengthening market expansion. As clinical evidence supporting TMS effectiveness continues to grow, the market is expected to witness significant development.

Favourable Regulatory Approvals and Reimbursement Policies to Support Transcranial Magnetic Stimulator Market Value

Regulatory bodies worldwide are increasingly approving transcranial magnetic stimulation (TMS) devices for a wider range of conditions, accelerating market growth. Authorities such as the U.S. FDA and European CE have already cleared TMS for depression and obsessive-compulsive disorder (OCD), with approvals for additional neurological disorders underway. For instance, in August �2024, Neurocare Group received FDA clearance for its intermittent Theta Burst Stimulation (iTBS) protocol, integrated into its Apollo TMS Therapy System and other clinical TMS systems. Additionally, expanding insurance coverage and reimbursement policies are making TMS more accessible, fostering broader adoption and ensuring sustained market expansion in the coming years.

Rising Investments in Research and Development Across Various Domains to Enhance Transcranial Magnetic Stimulator Market Growth

Rising investments in research and development (R&D) are driving innovation in the market. Companies and academic institutions are actively exploring new applications, including stroke rehabilitation, pain management, and addiction treatment. Advanced stimulation protocols and personalised treatment approaches are being developed to improve patient outcomes. Additionally, collaborations between medical device firms and research institutes are accelerating clinical trials and technological breakthroughs. For instance, in June �2024, BrainsWay Ltd. initiated a multicentre clinical trial to evaluate an accelerated deep TMS treatment protocol for major depressive disorder (MDD). The study, involving over 100 patients, will compare a shortened acute treatment phase with the FDA-cleared standard-of-care protocol. If successful, this innovation could enhance treatment accessibility and effectiveness, driving market expansion.

Transcranial Magnetic Stimulator Market Segmentation

Transcranial magnetic stimulation or TMS refers to a non-invasive brain stimulation technique that uses a certain brain area with magnet induction forces. Electromagnetic induction is produced by electricity from a bow, and these pulses pass through the cranium in its specified brain receptor area. There are many different ways for brain stimulation, like electroconvulsive therapy and brain stimulation techniques; however, the most commonly used approach for brain stimulation is the currently transcranial magnetic stimulation technique.

Market Breakup by Type

- Deep Transcranial Magnetic Stimulation
- Repetitive Transcranial Magnetic Stimulation
- Others

Market Breakup by Age Group

- Adults
- Children

Market Breakup by Application

- Alzheimer' Disease
- Depression
- Parkinson's Disease
- Epilepsy

Market Breakup by End User

- Hospitals
- Specialty Clinics
- Research Institutes & Academic Centers
- Home Care Settings
- Others

Market Breakup by Region

- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa

Transcranial Magnetic Stimulator Market Share

Repetitive Transcranial Magnetic Stimulation Dominating the Segment by Type

Repetitive Transcranial Magnetic Stimulation (rTMS) is expected to hold the largest market share due to its widespread use in treating depression, anxiety, and neurological disorders. The rising prevalence of mental health conditions, increasing awareness of non-invasive therapies, and technological advancements in TMS devices are driving growth. Additionally, strong clinical evidence supporting rTMS efficacy and expanded regulatory approvals enhance adoption. The segment is poised to grow further with increasing research into new applications, making it a key contributor to market expansion during the forecast period.

Depression to Hold a Substantial Transcranial Magnetic Stimulator Market Value by Application

Depression is anticipated to dominate the market due to the growing global burden of mental health disorders and increasing demand for non-pharmacological treatments. The effectiveness of TMS in treatment-resistant depression has driven adoption, supported by favourable reimbursement policies and clinical endorsements. As per the analysis by Expert Market Research, the anxiety and depression treatment market is expected to grow at a CAGR of 2.6% during the forecast period 2025-2034. �Rising mental health awareness, government initiatives, and ongoing research into TMS for psychiatric disorders further strengthen market growth. With depression cases on the rise and healthcare providers prioritising innovative therapies, this segment is set to be the primary driver of market expansion in the coming years.

Hospitals to Lead a Substantial Transcranial Magnetic Stimulator Market Share by End User

Hospitals are expected to lead the market as the primary end users of transcranial magnetic stimulators due to their advanced healthcare infrastructure and high patient influx. The availability of skilled professionals, coupled with increasing investments in neurostimulation technologies, enhances TMS adoption in hospital settings. Moreover, hospitals serve as centres for clinical trials and research, further advancing TMS applications. As awareness grows and hospitals integrate more non-invasive neurological treatments, this segment is poised to drive significant market growth, ensuring accessibility and innovation in neurotherapeutic care.

Transcranial Magnetic Stimulator Market Analysis by Region

North America is expected to dominate the market due to advanced healthcare infrastructure, strong research initiatives, and rising neurological disorder cases. The region benefits from high awareness, favourable reimbursement policies, and increasing government support for mental health treatments. Europe follows closely, driven by technological advancements and expanding clinical applications. The Asia Pacific market is poised for rapid growth, fuelled by increasing healthcare investments and a rising geriatric population.

Leading Players in the Transcranial Magnetic Stimulator Market

The key features of the market report comprise patent analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:

BrainsWay Ltd.

BrainsWay Ltd. specialises in deep transcranial magnetic stimulation (dTMS) technology, offering innovative, non-invasive solutions for neurological and psychiatric disorders. Its FDA-cleared systems treat major depressive disorder and obsessive-compulsive disorder, with ongoing research for additional indications. The company's advanced coil design enhances brain stimulation depth and effectiveness. Strong clinical evidence and continuous R&D investments position BrainsWay as a key player in expanding the global TMS market.

Neuronetics, Inc.

Neuronetics is a pioneer in repetitive transcranial magnetic stimulation (rTMS), widely recognised for its NeuroStar Advanced Therapy system. Focused on treating major depressive disorder, the company leverages technological advancements and strategic collaborations to expand accessibility. Its growing presence in hospitals and psychiatric clinics, coupled with increasing insurance coverage, strengthens its market position. Neuronetics' commitment to research and innovation ensures continuous improvements in TMS therapy efficacy and adoption.

Magstim

Magstim is a leading provider of transcranial magnetic stimulation devices, offering cutting-edge rTMS solutions for depression and neurological disorders. The company's high-performance stimulators and accessories support clinical and research applications globally. Magstim's strong distribution network and focus on training healthcare professionals enhance market penetration. Its continued investment in product development and regulatory approvals strengthens its competitive edge in the expanding neuromodulation market.

MagVenture A/S

MagVenture, a leading provider of transcranial magnetic stimulation (TMS) systems, specialises in innovative neuromodulation solutions for psychiatric and neurological disorders. The company is recognised for its MagPro� magnetic stimulation system, widely used in clinical and research applications. For instance, in May �2024, the company partnered with Magnus Medical to integrate its MagPro� system into the SAINT� neuromodulation therapy. SAINT therapy, an FDA-cleared, rapid-acting treatment, offers MRI-guided TMS for treatment-resistant major depressive disorder (MDD).

Other key players in the market include eNeura Inc., Nexstim Plc, Salience TMS Neuro Solutions, Beckman Coulter, Inc., EB Neuro S.p.A., and Syneika.

Key Questions Answered in the Transcranial Magnetic Stimulator Market

- What was the global transcranial magnetic stimulator market value in 2024?
- What is the global transcranial magnetic stimulator market forecast outlook for 2025-2034?
- What is market segmentation based on type?
- What is the market breakup based on age group?
- What is market segmentation based on application?
- What is market segmentation based on end user?
- What are the major factors aiding the global transcranial magnetic stimulator market demand?
- How has the market performed so far, and how is it anticipated to perform in the coming years?
- What are the market's major drivers, opportunities, and restraints?
- What are the major global transcranial magnetic stimulator market trends?
- Which type will lead the market segment?
- Which application will lead the market segment?
- Which end user will lead the market segment?
- Who are the key players involved in the global transcranial magnetic stimulator market?
- What is the patent landscape of the market?
- What are the current unmet needs and challenges in the market?
- How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?