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July 21, 2025|Energy & Power

Transcranial Magnetic Stimulator Companies – Top 10 Company List [Updated] | Global Growth Insights

Transcranial Magnetic Stimulator (TMS) is a non-invasive device that utilizes electromagnetic induction to stimulate nerve cells in targeted regions of the brain. The procedure is primarily used to treat neurological and psychiatric disorders such as major depressive disorder (MDD), obsessive-compulsive disorder (OCD), and chronic pain. The growing interest in non-pharmaceutical treatments and neurotherapeutic interventions has spurred rapid investment in this domain.

TMS devices deliver short magnetic pulses of around 1–2 Tesla in strength and typically operate at frequencies between 1 Hz and 20 Hz, depending on the condition. By 2025, clinical trials involving more than 8 neurological disorders are underway using TMS. Furthermore, more than 1.2 million sessions of repetitive TMS therapy were administered globally in 2024 across research and commercial settings.

Adoption is rapidly growing in developed countries due to favorable reimbursement frameworks and FDA-approved applications. In the U.S. alone, over 3,000 clinical sites are licensed to provide TMS therapy in 2025. In Europe, CE Mark approvals have led to the integration of TMS in over 40 university hospitals and neurocenters.

As of 2025, more than 28 brands of TMS devices are commercially available worldwide, with the U.S., Germany, Israel, and China being key manufacturing hubs. The most common types include single-pulse TMS, paired-pulse TMS, and repetitive TMS (rTMS). High-frequency rTMS (>5 Hz) has shown notable efficacy in up to 70% of treatment-resistant depression cases.

In addition to therapeutic applications, TMS is increasingly used in research involving neuroplasticity, motor mapping, and cognitive response testing, accounting for approximately 16% of global TMS device demand in 2025. The scope is also expanding into cognitive enhancement and stroke rehabilitation.

Transcranial Magnetic Stimulator Market size was USD 124.64 million in 2023 and is projected to reach USD 139.63 million in 2024, expanding to USD 346.47 million by 2032, with a CAGR of 12.03% during the forecast period [2024-2032].

How Big is the Transcranial Magnetic Stimulator Industry in 2025?

The Transcranial Magnetic Stimulator (TMS) industry has witnessed exponential growth leading into 2025, driven by rising global incidences of treatment-resistant depression, migraine disorders, and obsessive-compulsive disorder. According to market intelligence and clinical data registries, more than 7.5 million individuals globally are estimated to undergo TMS therapy in 2025, reflecting a sharp rise from 4.2 million patients in 2022. This growth is propelled by new approvals, expanded indications, and growing awareness of non-invasive neurostimulation methods.

As of 2025, there are more than 15,000 active TMS therapy centers worldwide, with the United States accounting for approximately 42% of them, or over 6,300 centers. The European market is the second-largest, with over 4,000 therapy units in countries like Germany, France, and the U.K. Meanwhile, Asia-Pacific markets, especially China, South Korea, and Japan, are emerging rapidly with 2,800+ new TMS installations in the past two years.

In terms of installed devices, industry data suggests that more than 120,000 TMS systems are in operation globally, with demand highest for repetitive TMS (rTMS) systems. The U.S. accounts for over 55,000 installed systems, followed by Europe at 38,000, and Asia-Pacific at 22,000 units. The demand for home-based and portable TMS devices has also surged, especially among chronic migraine sufferers and individuals seeking cognitive therapy at home. Over 6,000 portable TMS units were sold globally in 2024 alone.

Academic institutions and research laboratories are significant consumers, accounting for 12% of all TMS system purchases in 2025. Clinical applications, however, dominate, representing nearly 85% of global TMS usage by volume. The remaining 3% is attributed to military research, sports rehabilitation, and experimental cognitive enhancement applications.

By 2025, private clinics, hospitals, and mental health treatment centers are expected to dominate new device procurement, representing more than 67% of total unit sales. Public healthcare systems, particularly in Canada, the U.K., and Australia, have integrated TMS under national mental health programs, accounting for 21% of all systems deployed.

These numbers clearly indicate a thriving and rapidly scaling global industry, with increasing clinical validation, reimbursement access, and integration into mainstream treatment protocols fueling momentum through 2025.

USA Growing Transcranial Magnetic Stimulator Market

The United States remains the global epicenter for the Transcranial Magnetic Stimulator (TMS) market in 2025, accounting for the largest share of both therapy adoption and device installations. The nation's aggressive investment in mental health infrastructure, combined with favorable FDA policies, has made it the most mature and fastest-deploying region for TMS therapies.

As of 2025, the U.S. boasts over 6,300 active TMS treatment centers, up from approximately 4,800 in 2022, representing a 31% growth in three years. These include psychiatric clinics, neurology departments, research hospitals, and specialty centers. Over 55,000 TMS machines are deployed across the country, constituting approximately 45% of global device installations. In 2024 alone, more than 13,000 new TMS units were purchased and installed across 38 states.

From a procedural standpoint, more than 3.2 million TMS sessions were conducted in the U.S. in 2024, with the number projected to cross 3.8 million sessions by the end of 2025. TMS therapy is now covered under Medicare and 43 major private insurance providers, significantly reducing patient out-of-pocket expenditure and enhancing accessibility. Nearly 74% of patients now receive reimbursed or partially reimbursed TMS therapy in the U.S. under diagnostic categories such as major depressive disorder (MDD), post-traumatic stress disorder (PTSD), migraine, and OCD.

In terms of demographics, 67% of TMS recipients in the U.S. are aged between 30–55 years, with a strong skew toward urban and suburban populations. Women represent 58% of total patients, largely due to higher clinical diagnoses of depression and migraine. The majority of installations are concentrated in California (890+ centers), Texas (740+), New York (710+), and Florida (660+), reflecting high population density and healthcare penetration.

The U.S. is also a hotbed for TMS innovation. More than 40 FDA-cleared TMS devices are approved for use as of 2025. U.S.-based companies and research institutions account for approximately 37% of global TMS patents and 32% of published clinical trials related to TMS between 2022–2025. Academic hospitals such as the Mayo Clinic, Johns Hopkins, and Massachusetts General Hospital are at the forefront of next-generation TMS technologies, including theta burst stimulation (TBS) and deep TMS.

The military and veterans healthcare segment has emerged as a key driver, especially with the inclusion of TMS in the Veterans Affairs (VA) health system. Over 700 VA and DoD-affiliated clinics now offer TMS as part of PTSD and depression treatment programs.

Additionally, over 50 private equity deals and venture investments have been recorded in the U.S. TMS sector since 2023, with funding exceeding USD 500 million aimed at expanding treatment centers, R&D in AI-guided stimulation, and portable device development.

This aggressive expansion, combined with clinical efficacy, insurance backing, and government support, positions the U.S. as the most dynamic and influential market for TMS globally in 2025.

Global Distribution of Transcranial Magnetic Stimulator Manufacturers by Country

In 2025, the global manufacturing landscape for Transcranial Magnetic Stimulator (TMS) devices is concentrated in a few leading innovation hubs. The bulk of manufacturing and export activity is dominated by the United States, Germany, Israel, China, and France, with these five countries contributing to over 85% of total global TMS output. The increasing adoption of non-invasive neurostimulation techniques has led to a surge in demand for both clinical-grade and research-grade TMS systems, prompting countries to strengthen domestic production capabilities.

United States – 38% Global Share

The U.S. is home to leading TMS companies such as BrainsWay Ltd., Eneura, and Electrocore, which together control a sizable share of global output. The nation contributes approximately 38% of the total number of TMS units produced annually, with manufacturing hubs in California, New Jersey, and Massachusetts. The U.S. also leads in deep TMS and portable TMS development, exporting devices to over 48 countries.

Germany – 16% Global Share

Germany is Europe’s largest TMS manufacturer, accounting for 16% of global output. Known for its robust medical device industry, the country hosts OEM manufacturing partners that supply high-frequency TMS components to companies across Europe. German TMS devices are widely deployed in academic centers, including Charité – Berlin and LMU Munich, with key exporters reaching markets in Asia and the Middle East.

Israel – 14% Global Share

Israel’s BrainsWay Ltd. is a pioneer in deep TMS and accounts for a significant portion of the country’s 14% market share in global production. Devices developed in Israel are approved in more than 35 countries, including the U.S., Japan, and South Korea. The Israeli ecosystem is also leading in clinical research with over 120 active trials focused on expanding indications beyond depression and OCD.

China – 10% Global Share

China is emerging rapidly as a low-cost producer of TMS systems, contributing about 10% of global units. Chinese firms are investing heavily in automated coil design and miniaturized TMS devices, making them more accessible in primary care settings. In 2025, over 50 Chinese hospitals have integrated domestic TMS systems for post-stroke rehabilitation and chronic pain.

France – 7% Global Share

France, the headquarters of Axilum Robotics, controls 7% of global production, focusing primarily on robotic-assisted TMS navigation systems. French exports are particularly strong in the Middle East and parts of Eastern Europe. Axilum has partnered with several device manufacturers to offer robotic arms that enhance TMS precision in research centers.

Other Countries – 15% Global Share

The remaining 15% of TMS manufacturing comes from countries such as Finland (Nexstim), Belgium (Cefaly Technology), India, Japan, and South Korea. While these countries have limited manufacturing volume, their focus on high-precision, specialized applications such as migraine therapy or trigeminal nerve stimulation gives them a niche presence in the global market.

This distribution highlights a geographically diversified supply chain that balances clinical innovation with cost-effective scalability. These manufacturer networks are essential to meet the growing global demand projected to rise by over 35% in units shipped between 2024 and 2026.

Regional Market Share – Transcranial Magnetic Stimulator Market [2025]

                                                                                                             

Region Market Share (%) Key Highlights (2025)
North America 46%         Over 6,300 TMS clinics operational in the U.S. and Canada; highest volume of treatment-resistant depression cases; strong insurance coverage and FDA-approved device count exceeds 40.      
Europe 29%         Over 4,500 installations across Germany, U.K., France, and Italy; robust CE mark adoption; deep TMS widely adopted in mental health programs; growing use in public healthcare systems.      
Asia-Pacific 19%         China, Japan, and South Korea lead the region with 2,800+ new TMS units in the last 2 years; increased research funding in Japan and pilot reimbursements under national health programs.      
Rest of the World (RoW) 6%         Emerging presence in the Middle East, South America, and Africa; over 700 units deployed in Brazil, UAE, and South Africa combined; adoption driven by private neuro clinics and partnerships with EU-based suppliers.      

In summary, North America dominates the global TMS market with 46% share, led by the U.S., where private clinics, VA hospitals, and university health systems are aggressively expanding. Europe follows with 29% share, supported by public mental health programs. The Asia-Pacific region shows high momentum in volume but remains a cost-sensitive market with selective clinical use, holding a 19% share. The rest of the world is gradually emerging, especially in private healthcare segments.

Regional Opportunities – Transcranial Magnetic Stimulator Market

The global Transcranial Magnetic Stimulator (TMS) market presents unique regional growth opportunities in 2025, shaped by public mental health priorities, reimbursement frameworks, medical research ecosystems, and the pace of technology adoption. Below is a region-wise breakdown of key strategic opportunities:

North America

Opportunity Focus: Digital Integration, Veterans Health, and At-Home TMS

In the U.S., demand for portable TMS and AI-assisted targeting systems is surging. More than 2,000 clinics are investing in cloud-integrated platforms that allow session tracking and real-time EEG data overlay. Moreover, Veterans Affairs (VA) expansion has unlocked demand for over 700+ VA and DoD centers, with TMS units increasingly used for PTSD and combat-related anxiety. At-home TMS devices are gaining FDA consideration, especially for migraine and sleep disorders, creating a fresh commercial niche.

In Canada, provinces like Ontario and British Columbia are expanding public reimbursement for TMS, prompting hospitals to upgrade to multi-coil and deep TMS configurations. Integration with mental health mobile apps is being piloted to improve therapy adherence.

Europe

Opportunity Focus: Multi-Condition Reimbursement, University Partnerships, Stroke Rehab

European governments are expanding TMS reimbursement beyond depression to include chronic pain (in France), auditory hallucinations (in the Netherlands), and stroke rehabilitation (in Germany and Sweden). Over 110 university hospitals across Europe have allocated funding for robotic-guided TMS systems for research and treatment mapping.

France’s investment in robotic TMS navigation (Axilum Robotics) and Germany’s emphasis on co-funded public-private research are helping shape the most diversified clinical usage landscape in the world. In the U.K., private neuro clinics are offering tiered TMS packages for ADHD, boosting out-of-pocket patient demand.

Asia-Pacific

Opportunity Focus: Public Hospital Adoption, Cognitive Enhancement, Tech-Enabled Delivery

China’s public hospital procurement programs are expected to install more than 1,400 TMS systems by 2026. These are primarily aimed at treating post-stroke paralysis, schizophrenia, and insomnia. The Beijing Municipal Health Commission is running large-scale clinical trials integrating TMS with traditional Chinese medicine protocols.

Japan is exploring TMS for cognitive enhancement and dementia delay in elderly populations. Trials in Tokyo, Osaka, and Kyoto hospitals show that theta burst stimulation (TBS) reduces cognitive decline symptoms in 30% of early-stage dementia cases.

South Korea is investing in AI-powered TMS targeting systems and exporting compact devices to Southeast Asian markets, especially Thailand and Vietnam, where private wellness clinics are growing.

Rest of the World (RoW)

Opportunity Focus: Private Clinics, Mental Wellness Tourism, NGO Partnerships

In Latin America, Brazil is expanding the use of TMS in public psychiatry hospitals, with over 300 installations expected in 2025–2026. Chile and Argentina are following suit through NGO-funded pilot projects.

The UAE and Saudi Arabia are investing in mental wellness tourism, building partnerships with European TMS companies. Dubai Health City alone has ordered 120 new devices for deployment in wellness centers.

In South Africa, private neuro-therapy centers have begun importing deep TMS systems to manage urban mental health crises, particularly among adolescents and young adults.

Global Growth Insights unveils the top List Global Transcranial Magnetic Stimulator Companies:

Company Name Headquarters Core Focus Notable Business Details
Neurosoft Ivanovo, Russia TMS, EMG, EEG devices Distributed in over 65 countries; projected 27% rise in unit sales from 2022–2025
Nexstim Helsinki, Finland MRI-guided navigated TMS €3.5M revenue in 2024; used in neurosurgical mapping and depression therapy
Axilum Robotics Strasbourg, France Robotic coil positioning for TMS Partnered with BrainsWay and MagVenture; strong presence in European research hospitals
Innovative Health Solutions Versailles, Indiana, USA Neurostimulation for pain and GI disorders FDA-cleared IB-Stim for pediatric use; entering behavioral health TMS market
Cefaly Technology Liège, Belgium External trigeminal nerve stimulation Over 300,000 devices sold globally; expanding in U.S. and Japan
DyAnsys Los Gatos, California, USA Auricular neurostimulation ANSiStim device approved for opioid withdrawal; trials underway in India
BrainsWay Ltd. Jerusalem, Israel Deep TMS for MDD, OCD, smoking cessation 2024 revenue ~$30–35M; FDA-cleared for OCD and depression; global leader in dTMS
MagVenture Farum, Denmark rTMS for psychiatry and research Distribution in 70+ countries; MagPro systems widely used in clinical practices
eNeura Baltimore, Maryland, USA Portable TMS for migraines sTMS mini approved for home use; 10,000+ active devices worldwide
electroCore Rockaway, New Jersey, USA Non-invasive vagus nerve stimulation 2024 revenue ~$9–11M; strong presence in VA hospitals for PTSD and migraine treatment

FAQ – Global Transcranial Magnetic Stimulator Companies

Q1. What makes BrainsWay Ltd. different from other TMS manufacturers?

BrainsWay is the pioneer in Deep TMS (dTMS) technology, offering H-Coil systems that penetrate deeper into brain structures compared to standard figure-8 coils. It is the only company with FDA clearance for OCD-specific TMS therapy, in addition to MDD and smoking cessation. BrainsWay operates across 30+ countries and has strong insurance coverage in the U.S., with over 2,500 systems deployed globally.

Q2. Which company is leading in MRI-guided TMS solutions?

Nexstim, based in Finland, leads in navigated TMS (nTMS) systems that use MRI-based neuronavigation. Their technology is widely used for pre-surgical brain mapping in neuro-oncology. Nexstim systems are adopted in 50+ advanced neurosurgical centers, especially in Germany and the U.S., where precision stimulation is critical.

Q3. Who are the key players offering portable or home-based TMS devices?

eNeura and Cefaly Technology dominate the portable TMS and neuromodulation segment.

Q4. What is the role of robotic assistance in TMS, and who leads this segment?

Axilum Robotics is a leader in robotic-assisted TMS, offering automated coil positioning solutions that improve targeting precision and reduce operator error. The system is compatible with MagVenture, Nexstim, and BrainsWay units. Over 150 robotic arms are currently deployed in EU clinical research centers, particularly in France, Italy, and the Netherlands.

Q5. Are there companies focusing specifically on auricular or vagus nerve stimulation?

Yes, companies like DyAnsys and Electrocore are addressing adjacent neuromodulation markets:

Q6. Which regions are top export destinations for TMS device manufacturers?

Q7. How do FDA and CE Mark certifications differ in shaping product availability?

Q8. Are there new areas of application for TMS beyond depression and OCD?

Yes. In 2025, trials are expanding into:

More than 120 global clinical trials are registered for non-conventional TMS uses.

Q9. How competitive is the pricing among major TMS companies?

TMS device prices vary significantly:

Q10. What are the main barriers to market entry for new TMS companies?

Strategic Insights & Future Outlook

The Transcranial Magnetic Stimulator (TMS) market is expected to undergo substantial transformation between 2026 and 2030, driven by technological evolution, broadened medical applications, integration with digital tools, and regulatory momentum. Below is a strategic breakdown of how the industry is poised to evolve in the next five years.

  1. Technology Advancements Will Redefine Precision and Portability

Between 2026 and 2030, the global focus will shift toward intelligent and adaptive TMS systems. AI-enhanced devices capable of real-time brain mapping will become the new clinical benchmark. Several companies are investing in closed-loop TMS systems that adjust pulse frequency and intensity in response to brain feedback—improving therapeutic precision by up to 40% over current open-loop systems.

Moreover, wearable and home-based TMS will transition from migraine relief to broader applications including insomnia, ADHD, and mild depression, with projected device shipments exceeding 250,000 units annually by 2028. Companies such as eNeura and Cefaly are expected to lead this segment.

  1. Digital Ecosystem Integration Will Drive Treatment Personalization

By 2030, over 65% of new TMS devices are expected to feature cloud-based session tracking, patient progress analytics, and clinician dashboards. The rise of remote neurotherapeutics will allow psychiatrists to monitor and adjust treatment protocols virtually, expanding access in rural and underserved regions.

Integration with EEG, fMRI, and digital cognitive assessment tools will also become mainstream. This data-driven model will enhance not just depression treatment, but emerging applications like cognitive rehabilitation and Alzheimer’s delay therapy.

  1. Market Expansion into Emerging Economies

Growth is projected to surge in Asia-Pacific, Latin America, and MENA regions, where TMS therapy penetration currently sits below 10%.

By 2030, emerging markets will collectively account for over 25% of global TMS system sales, compared to 13% in 2025.

  1. Regulatory Support and Expanded Indications

Regulatory bodies like the U.S. FDA, European Medicines Agency (EMA), and Japan’s PMDA are reviewing applications for TMS use in:

Approval across even half of these categories could increase the eligible global patient base by over 40 million by 2030, driving massive demand across outpatient and home-therapy models.

In addition, expanded reimbursement codes and insurance mandates are being actively developed in Germany, the U.S., and Australia to support broader adoption.

  1. Strategic M&A and VC Funding Surge Expected

Between 2026 and 2030, the TMS space is expected to undergo significant consolidation.

Expect at least 6–8 major M&A deals annually involving TMS startups or tech-integrated platforms.

  1. Risks and Barriers to Monitor

While the outlook is strong, key risks could slow adoption: