The Growing Demand for TMS and Spravato: Market Trends and Insights

As rates of depression and anxiety continue to climb, many people are looking beyond traditional medications for help. As the awareness surrounding treatment-resistant depression (TRD) grows, so does the interest in innovative treatments like Transcranial Magnetic Stimulation (TMS) and Spravato (esketamine). These treatments are changing the way we treat depression, and statistics indicate that they are not slowing down. This surge in popularity is reflecting the broader change happening in the field of mental health. In this article, we will talk about what is driving growth in TMS and Spravato and what the future may hold.

Understanding TMS and Spravato

Transcranial Magnetic Stimulation (TMS) is a non-surgical, FDA-approved treatment that uses magnetic coils to induce stimulation of the targeted areas of the brain that are linked with mood control. It is generally used for treating major depressive disorder (MDD) after other treatments have been tried and failed.  TMS has also shown potential to treat conditions like anxiety and PTSD.

Spravato (esketamine) is an FDA-approved nasal spray that comes from ketamine. It is used to treat treatment-resistant depression in adults. Spravato gives patients faster relief from depressive symptoms, a significant advance in psychiatric treatment.

TMS Market Trends

The global TMS market is growing at a fast pace. Acumen Research and Consulting valued the TMS market at USD 1.22 billion in 2023 and is predicted to touch USD 2.97 billion by 2032, with a CAGR of 10.6% from 2024 to 2032. There are a number of reasons for this increasing trend:

• An increase in neurological disorders: Neurological disorders such as depression and anxiety have created a demand for newer therapies.
• Advancements in non-invasive brain stimulation technology: These innovations are improving the accuracy and availability of treatment.
• Growing acceptance of alternative therapies: We are seeing a shift toward embracing non-traditional treatment in mental health care.

We continue to see greater expansion in mental health facilities offering TMS. Furthermore, coverage of TMS has expanded in recent years, and most major insurers cover TMS under strict eligibility criteria.

Spravato Demand

Spravato (esketamine) is another breakthrough in treating depression, particularly in patients who might be having suicidal ideation or who have failed to respond to multiple antidepressants. Spravato was approved by the FDA in 2019, given and monitored in a clinic environment, and works differently from usual antidepressants. Patients usually show visible progress in hours or days.

Why Spravato is Gaining Traction:

• FDA-approved for both treatment-resistant depression and now approved as a standalone treatment for depression.
• Clinics across the U.S. are increasingly becoming REMS-certified to administer Spravato.
• Spravato offers fast-acting relief, which is very helpful for patients with depression in crisis situations.
• Janssen Pharmaceuticals, the manufacturer of Spravato, said the number of treatment centers offering Spravato has grown significantly each year since its launch.
• Spravato brought in $780 million in global sales during the first nine months of 2024.

Factors Fueling Industry Growth

There are many variables leading to an increased acceptance for TMS and Spravato:

• Increased insurance coverage: The American Psychiatric Association reports that both private and public insurers are increasingly covering these treatments as data continues to support the effectiveness of these treatments.
• Expanded clinical research: More studies continue to demonstrate its safety and long-term potential of these treatments.
• Private investment and clinic expansion: Mental health-related startups and private equity firms are investing in scalable, multiple-location models that offer TMS and Spravato as a main service.
• Increased Mental Health Awareness: Due to public health campaigns and destigmatization efforts, more people are seeking treatment.
• Technological Innovations: Advancements in TMS devices with portable and home use options are drawing in a greater patient base.

Challenges and Considerations

​​While demand for TMS and Spravato keeps growing, there still remain several key considerations. Accessibility and affordability remain key determinants. Out of pocket, these treatments can be expensive, and availability may be low in certain areas. The good news is that insurance coverage is progressing, as many insurers now cover TMS and Spravato for eligible individuals, and this is only going to grow as demand and awareness grow.

There is a continuing need for constant research. Both therapies have been very promising for the majority of patients suffering from treatment-resistant depression. However, further studies are needed to continue developing therapeutic protocols and defining long-term outcomes. They also help to make these treatments as effective and accessible as possible for those most in need.

What the Future Looks Like

In the past several years, there has been incredible progress in the field of mental health care, as the care has become more individualized, evidence-based, and faster acting. TMS and Spravato are likely to continue to move towards the mainstream as:

• Access increases through clinic expansion and more inclusive coverage policies
• New FDA-approved uses are being explored to treat other problems like PTSD and anxiety.
• Provider education continues to grow, enabling more clinicians to safely administer these therapies

The growing demand for TMS and Spravato is a reflection of the tremendous progress in the mental health field, which is dedicated to helping patients who’ve too often suffered for too long without relief. As research, innovation, and investment continue, these therapies are paving the path to a more successful and responsive tomorrow in the treatment of depression. For more information on TMS and Spravato treatments, visit MDDCare.com