Pune, India, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Shifting focus towards the treatment of rare diseases is a factor driving the global transcranial magnetic stimulators market says Fortune Business insights in a report. The increasing number of regulatory approvals for devices is likely to aid growth of the Global Transcranial Magnetic Stimulators Market.
Launch of Cobot - An Innovative Robot for Transcranial Magnetic Stimulation to Boost Market
Axium Robotics, a company based in Strasbourg, France, launched its TMS-Cobot TS MV, after receiving approval from the U.S and European regulatory authorities. The TMS-Cobot TS MV is a visual tracking system that allows to track the movement of patient and also offers uninterrupted adjusting of its positioning to maintain the coil’s focus on the target. The arm can be adjusted and repositioned by the operator at will.
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The launch of the new robot is expected to encourage transcranial magnetic stimulators growth owing to tracking ability of the Cobot. Further, excellent clinical trials result by pharmaceutical companies is also supporting the transcranial magnetic stimulators growth. For instance, Xenon Pharmaceuticals Inc., announced positive results from its XEN1101 Phase 1 clinical trial and the related transcranial magnetic stimulation (TMS) studies.
Top Key Players Covered:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the global Transcranial Magnetic Stimulators market. Some of the companies operating the global Transcranial Magnetic Stimulators market are;
- Brainsway Ltd.
- MagVenture A/S
- Nexstim plc
- Axilum Robotics
- Neuronetics, Inc.
- TMS Neuro Solutions
- Magstim
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Increasing Demand for Advanced Stimulators Will Contribute to Growth in North America
Geographically, the global transcranial magnetic stimulators market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominated the global transcranial magnetic stimulators market in 2018, and is expected to lead during the forecast period due to the presence of a large patient pool suffering from depression and other neurological disorders. Surge in the number of devices receiving regulatory approvals along with the rising demand for advanced stimulators and reimbursement policies are fostering growth in North America. Europe and Asia Pacific are predicted to grow on significant rate during the forecast period due to increasing cases of physiological disorders in the region.
The growing adoption of new and developed transcranial magnetic stimulators available in the market along with the development of healthcare infrastructure are likely to drive the global transcranial magnetic stimulators market in the forthcoming year.
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Increasing R&D Investment Will Create Growth Opportunities
Product launches along with rising R&D investments by key companies with a focus to treat rare diseases are expected to promote the transcranial magnetic stimulators market growth during the forecast period. Increasing number of regulatory approvals has led to the adoption of transcranial magnetic stimulators in emerging nations which in turn is boosting the transcranial magnetic stimulators market. For instance, MindfulTMS Neurocare, received U.S. FDA approval for its transcranial magnetic stimulation (TMS) device for treating depression, addiction and obsessive compulsive disorders in India.
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Key Segmentation:
By Type
· Single or paired-pulse transcranial magnetic stimulation (TMS)
· Repetitive transcranial magnetic stimulation (rTMS)
By Application
· Diagnostics and Research
· Therapeutics
By Geography
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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