Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 92

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 92
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 interfere with all aspects of life, such as work, school, and personal relationships. Based on data
from the NIMH, we estimate that approximately 3.1 million adults in the United States suffer from OCD annually. We believe that approximately
half of the patients (1.5 million) that have sought help would be considered treatment-resistant (i. e., not having achieved ≥30% improvement
of their symptoms from medications and psychotherapy). Assuming our emerging OCD coverage ultimately reaches target of 90% of adults in
the United States covered by private health insurance (as with MDD), and assuming a course of treatment per patient of 29 treatment sessions
and a price paid to us per treatment session of $70 (which is our benchmark price per treatment session), we believe our total addressable
market opportunity for OCD in the United States is approximately $2.7 billion.

Smoking is one of the leading causes of death in
developed countries. The addiction to nicotine, similar to the addiction to drugs and alcohol, involves modulation of the brain reward
system and causes uncontrollable desire to smoke. 480,000 U. S. adults die from smoking each year. Cigarette smoking has been found to
harm nearly every organ system in the body and is the leading cause of preventable death in the U. S. and of disease burden worldwide (Rostron,
BL, Chang CM, Pechacek TF. Estimation of cigarette smoking-attributable morbidity in the United States, JAMA Intern Med. 2014;174(12):1922-1928).
According to the CDC, approximately 28.3 million U. S. adults smoked cigarettes in 2021, with 68% stating they want to quit and 55% actually
attempting to quit. Of those attempting to quit, 7.6 million made a serious attempt to quit (i. e., using medication or counseling). Of
those smokers attempting to quit either with or without medical assistance, 2.9 million were successful. Reimbursement is not currently
available for Deep TMS for smoking addiction, and it is therefore premature to assess the amount of money our customers might be able
to collect from potential payors, and willing to pay us, for treatment for this indication. That said, assuming a course of treatment
per patient of 18 treatment sessions, and assuming an average price paid to us per treatment session of $50, we believe our total annual