 These devices are generally considered safe in themselves, though there can be significant financial and opportunity costs to magnet therapy, especially when treatment or diagnosis are avoided or delayed.The worldwide magnet therapy industry totals sales of over a billion dollars per year,<ref name=FlammCSI2006></ref><ref name=BBC2006></ref> including $300 million per year in the United States alone.<ref name="Finegold"></ref>

A 2002 U.S. National Science Foundation report on public attitudes and understanding of science noted that magnet therapy is "not at all scientific.