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.
Base Year
Historical Period
Forecast Period
The rising mental health awareness and increasing cases of depression and neurological disorders are driving demand for transcranial magnetic stimulators, enhancing market growth through expanded therapeutic applications and regulatory approvals.
Technological advancements, including AI integration and personalised treatment protocols, are improving transcranial magnetic stimulation (TMS) efficacy, attracting healthcare providers and boosting market adoption in both clinical and at-home settings.
Favourable reimbursement policies and growing research on TMS applications for conditions like Parkinson’s and chronic pain are accelerating market expansion, encouraging further investments in neurostimulation technologies.
Value in USD Billion
2025-2034
Transcranial Magnetic Stimulator Market Outlook
*this image is indicative*
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.
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.
The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:
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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
Market Breakup by Age Group
Market Breakup by Application
Market Breakup by End User
Market Breakup by Region
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.
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.
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. 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 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 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 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).
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
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.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Age Group |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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