Non-invasive Brain Stimulation System Market to Exceed Value of US$ 1.04 Bn by 2031, States TMR Study

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Nov 02, 2022, 12:00 ET

Increasing cases of depression and Parkinson's disease globally are expected to assist the non-invasive brain stimulation system market advance at a CAGR of 6.3% during 2022-2031
Rise in R&Ds and presence of sturdy healthcare industry in North America are fueling the growth of the non-invasive brain stimulation system market in region

WILMINGTON, Del., Nov. 2, 2022 /PRNewswire/ -- The global non-invasive brain stimulation system market is forecasted to reach a value of over US$ 1.04 Bn by the end of 2031, as per a review by Transparency Market Research (TMR). In addition, the TMR assessment finds that non-invasive brain stimulation system market is expected to grow at a CAGR of 6.3% during the forecast period, from 2022 to 2031.

Leading players in non-invasive brain stimulation system market are investing sizable amounts in R&Ds in order to develop technologically advanced devices that can help in the treatment of depression. Moreover, enterprises are focusing on the use of mergers, acquisitions, and new product launch strategies in order to stay ahead of the competition, states a TMR report that delivers key data on the recent developments in non-invasive brain stimulation system market.

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Non-invasive Brain Stimulation System Market: Key Findings

Over the period of past few years, there has been a surge in the prevalence of depression across many developed and developing nations globally. This aside, the cases of different health disorders including Parkinson's disease, chronic pain, and epilepsy are being rising worldwide. These factors are fueling the need for effectual treatment solutions, which in turn, is driving the business prospects in the global non-invasive brain stimulation system market, note analysts at TMR.
In the healthcare industry, the adoption of non-invasive technologies, specifically brain stimulation, is being increasing in the last few years. While non-invasive procedures do not utilize anesthesia, these procedures offer varied advantages including minimum infections risks, insignificant complications, rapid recovery, and less pain & discomfort. Hence, the hospital stay of patients is reduced than conventional treatments and therapies. These advantages are estimated to lead to increase in the future market demand for non-invasive brain stimulation system.
The market players are prognosticated to gain sizable business avenues in the hospitals segment during the forecast period. The segment growth is ascribed to many factors including a surge in the prevalence neurological diseases, presence of attractive medical reimbursement policies for non-invasive brain stimulation systems and sturdy established health care infrastructure in developed nations, and relatively high prices of devices.

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Non-invasive Brain Stimulation System Market: Growth Boosters

Surge in the prevalence of Parkinson's disease and depression globally is leading to lucrative opportunities in the non-invasive brain stimulation system market
The transcranial magnetic stimulation system segment is anticipated to expand at notable pace during the forecast period owing to R&Ds in the market

Non-invasive Brain Stimulation System Market: Regional Analysis

North America is one of the prominent markets for non-invasive brain stimulation system. The market is expected to gain lucrative prospects in the region during the forecast period due to a rise in the prevalence of different neurological diseases, existence of key players, and surge in R&Ds focused on non-invasive brain stimulation systems in the region.
Asia Pacific is the fastest growing market for non-invasive brain stimulation system and expected to attract significant growth prospects in the near future owing to surge in the prevalence of epilepsy, Parkinson's disease, and depression in the region

Non-invasive Brain Stimulation System Market: Key Players

Some of the key players profiled in the report are:

BrainsWay
Brainbox Ltd.
Flow Neuroscience
eNeura Inc.
Magstim
Magnus Medical, Inc.
NeoSync, Inc. (Wave Neuroscience, Inc.)
MagVenture
Neurocare Group AG
NeuraLace
Neuronetics
NeuroMetrix
Soterix Medical, Inc.

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Non-invasive Brain Stimulation System Market Segmentation

Product Type

Transcranial Magnetic Stimulation (TMS) System
Transcranial Current Stimulation (TCS) System

Application

Depression
Epilepsy
Parkinson's Disease
Chronic Pain
Others

End-user

Hospitals
Ambulatory Surgical Centers
Specialty Clinics
Others

Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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