The transcranial magnetic stimulator (TMS) market is projected to reach US$ 2,029.71 million by 2028 from US$ 1,122.22 million in 2021; it is expected to register a CAGR of 8.8% from 2021 to 2028.

Neurological disorders affect the brain and nerves of the human body and cause epilepsy and seizures, Parkinson's disease, dementia, autism, Alzheimer's disease, brain tumors, and cerebral palsy, among others. The prevalence of neurological disorders is increasing across the world. According to the Global Burden of Disease Study (GBD) 2017, Alzheimer's disease and other dementias [2.55 million Disability Adjusted Life Years (DALYs)], stroke (about 3.58 million DALYs), and migraine (about 2.40 million DALYs) were the three most burdensome neurological diseases in the US in terms of a total number of disability-adjusted life.

Further, the Alzheimer's Association estimates that over 6 million Americans have Alzheimer's disease, and the number is projected to reach nearly 13 million by 2050. TMS is widely used for the diagnosis and treatment of neurological disorders. For instance, according to BrainsWay Ltd., in April 2021, 100,000 patients across the world were treated with its Deep TMS. Thus, the growing prevalence of neurological disorders drives the growth of the transcranial magnetic stimulator (TMS) market globally. Moreover, depression is one of the mental disorders observed commonly among people worldwide. As per the data published by WHO in January 2020, more than 264 million people of all ages suffer from depression across the world.

The global transcranial magnetic stimulator (TMS) market is segmented based on type, age group, and application. Based on type, the market is segmented into single or paired pulse TMS and repetitive TMS (rTMS). in 2021, the single or paired pulse TMS segment held a larger share of the market, by type. The repetitive TMS (rTMS) segment is expected to witness a higher CAGR during 2021-2028. Based on age group, the market is segmented into adults and children. In 2021, the adults segment held a larger share of the market and is expected to grow at a higher CAGR during the coming years. Based on application, the market is segmented into research, diagnostic, and therapeutic. In 2021, the diagnostic segment held the largest share of the market and is expected to grow at the highest CAGR during the coming years.

The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and National Health and Wellness are among the primary and secondary sources referred to while preparing the report on the transcranial magnetic stimulator (TMS) market.

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