Report : North America Transcranial Magnetic Stimulator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type [Single or Paired Pulse TMS and Repetitive TMS (rTMS)], Age Group (Adults and Children), and Application (Research, Diagnostics, and Therapeutics)
Single or Paired Pulse TMS Segment to Dominate North America Transcranial Magnetic Stimulator Market during 2020–2028
According to a new market research study on “North America Transcranial Magnetic Stimulator Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Age Group, Application” is expected to reach US$ 731.10 million by 2028 from 398.16 US$ million in 2021. The market is estimated to grow at a CAGR of 9.1% from 2021 to 2028. The report provides trends prevailing in the North America transcranial magnetic stimulator market along with the drivers and restraints pertaining to the market growth. Neurological disorders rising is the major factor driving the growth of the North America transcranial magnetic stimulator market. However, issues associated with expensive diagnostic and treatment hinders the growth of North America transcranial magnetic stimulator market.
North America transcranial magnetic stimulator market is segmented into type, age group, application, and country. North America transcranial magnetic stimulator market based on the type was segmented into single or paired pulse TMS, repetitive TMS (rTMS). In 2020, the single or paired pulse TMS segment held the largest share of the market. The North America transcranial magnetic stimulator market, by age group, is segmented into adults and children. The adults segment held the largest share of the market in 2020. The North America transcranial magnetic stimulator market, by application, is segmented into research, diagnostic and therapeutic. The diagnostics segment held the largest share of the market in 2020. Based on country, the North America transcranial magnetic stimulator market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
The demand for neuromodulation has increased among the geriatric population, as the exposure to chronic pain is more in the aging population due to comorbidities and potential immune suppression. In addition, the demand is projected to grow among the people suffering from COVID-19 infection and chronic pain, which further results in immunosuppression, complex effects on the immune system. On the other hand, the COVID-19 pandemic has significantly affected the supply chain of medical device industry, due to lockdowns and travel restrictions imposed by governments in different countries and states. The limited production of medical devices was allowed to continue during these periods. However, the current COVID-19 situation in many North American countries is attaining stability in terms of treatment processes, vaccinations, etc. People are opting for their routine treatments and are visiting the clinics and hospitals as per the requirements. The COVID-19 pandemic is expected to slow down the overall North America transcranial magnetic stimulator market growth during the forecast period.
BrainsWay Ltd; eNeura Inc.; MAG & More GmbH; Magstim; MagVenture, Inc.; Neuronetics; Neurosoft; Nexstim; REMED; and TMS Neuro Solutions are among the leading companies in the North America transcranial magnetic stimulator market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, MagStim has received FDA 510(k) clearance for and launched its StimGuide TMS navigation system, touting it as the first device of its kind.
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