After doing extensive research, FMI estimates that the global MRI guided neurosurgical ablation market size will increase at a compound annual growth rate (CAGR) of 5% from 2022 to 2028, from a valuation of US$ 154 million in 2021 to US$ 216.3 million.
The field of neurosurgery has witnessed a remarkable advancement with the emergence of MRI-guided neurosurgical ablation technology. This innovative approach combines the power of magnetic resonance imaging (MRI) with precise ablation techniques to target and treat various neurological disorders. From brain tumors to movement disorders like Parkinson’s disease, this cutting-edge technology is transforming the landscape of neurosurgery by offering minimally invasive and highly targeted treatment options.
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Traditional neurosurgical procedures often require invasive approaches that come with inherent risks and longer recovery times. However, the MRI-guided neurosurgical ablation market is changing this paradigm. By utilizing real-time MRI imaging during the procedure, neurosurgeons can visualize the exact location of the target tissue and monitor the ablation process with unparalleled precision.
Key Insights :
Amongst Product Type, Accessories contributed maximum market share in the global MRI Guided Neurosurgical Ablation market due to due to rise in number of neurosurgery. MRI Guided Neurosurgery also is expected to gain huge traction in the market over the forecast period due to its increasing adoption.
By End User, Hospitals dominate market share in the MRI Guided Neurosurgical Ablation market due high preference of patient to visit hospitals for the treatment of brain cancer.
North America followed by Western Europe holds the maximum revenue share in the global MRI Guided Neurosurgical Ablation. Companies operating MRI Guided Neurosurgical Ablation focusing expand their business in China and Japan.
China and Japan is the faster growing region for MRI Guided Neurosurgical Ablation market due incidences of brain tumor and expansion strategy followed by key manufacturer in this countries
The growing awareness regarding minimally invasive surgery is expected to fuel the demand for MRI Guided Neurosurgical Ablation in the global market. The demand is primarily emanating from countries such as the U.S. Germany, U.K., Japan and Australia. Enhanced outpatient facilities coupled with affordability are factors contributing to growing demand MRI Guided Neurosurgical Ablation market.
Factors and Trends Impacting the Growth of the Market :
MRI-guided minimally invasive neurosurgery has experienced major momentum in the recent years, propelled by technologies such as MRI Interventions neurosurgical navigation platform and MRI-guided laser ablation platforms developed by Visualase and Monteris. The vast majority of these MRI guided platforms are used within standard diagnostic MRI suites. In a recent survey of neurosurgeons and neurologists, 80% of respondents expressed a belief that real-time MRI-guidance will or can become the future of functional neurosurgery. The utilization of these MRI-guided technologies is not limited to researchers and future applications. Today, clinicians are performing an increasing number of MRI-guided neurosurgical ablation procedures as part of their regular clinical practice. MRI-guidance is enabling a variety of minimally invasive procedures for a broad range of patients, which has enable the future the growth of this market. Additionally, The laser therapy system such as ClearPoint and Visualase by MRI Intervention and Medtronic; RF ablation therapy system such as RF3000 and Starbrust by Boston Scientific Corporation require at least small incision to perform the surgery. Hence, The launch of MRI-guided system has is a revolved the field of neurosurgery, which is expected to contribute to the growth of the MRI guided neurosurgical ablation market.
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Market by Product Type :
Accessories segment by product type is estimated to gain maximum revenue by product type for MRI guided neurosurgical ablation market. While, MRI Guided focused Ultrasound Systems is projected to grow with higher pace throughout the forecast period and it is projected to grow at CAGR of 5.8% throughout the forecast period of 2018-2028. MRI Guided Laser Therapy System segment by product is expected to represent value share of 14.3% in 2028, from 15.5% in 2018 for MRI guided neurosurgical ablation market. The launch of MRI guided ultrasound focused system in 2016 has enable the significant growth opportunity for MRI guided neurosurgical ablation market.
Regional Outlook :
On the basis of region, the MRI Guided Neurosurgical Ablation market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, China, Japan and Middle East & Africa. North America is estimated to dominate the global MRI Guided Neurosurgical Ablation market with maximum value share of the overall market in 2017. The North America MRI Guided Neurosurgical Ablation market is estimated to increase at a CAGR of 4.3% over the forecast period to reach the value of US$ 98.9 Mn. Limited awareness among patient about the treatment brain tumor is responsible for the sluggish growth of Latin America and MEA region.
Key Players :
Some of the top players operating in the global MRI Guided Neurosurgical Ablation market such Medtronic plc, Boston Scientific Corporation, Insightec Lmt, AngioDynamics Inc, Monteris Medical Inc, and MRI Intervention Inc. Innovation and partnership are two major strategy followed by manufacturer of MRI guided neurosurgical ablation. Leading manufacturer of MRI Guided Neurosurgical Ablation are focusing on collaboration to promote the use of MRI Guided Neurosurgical Ablation for the treatment of brain tumor. Some companies are focusing collaborate directly with hospitals to promote their MRI Guided Neurosurgical Ablation system. On other hand, few players of MRI Guided Neurosurgical Ablation market are emphasis on collaboration with distributors to expand their regional presence.
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Key Segments:
MRI Guided Neurosurgical Ablation Market by Product Type:
- MRI Guided Laser Therapy Systems
- MRI Guided RF Ablation Systems
- MRI Guided Focused Ultrasound Systems
- Accessories
- Probes
- Electrodes
MRI Guided Neurosurgical Ablation Market by End User:
- Hospitals
- Ambulatory Surgical Centers
- Research Laboratories
MRI Guided Neurosurgical Ablation Market by Region :
- North America MRI Guided Neurosurgical Ablation Market
- Latin America MRI Guided Neurosurgical Ablation Market
- Europe MRI Guided Neurosurgical Ablation Market
- East Asia MRI Guided Neurosurgical Ablation Market
- South Asia & Pacific MRI Guided Neurosurgical Ablation Market
- Middle East & Africa (MEA) MRI Guided Neurosurgical Ablation Market
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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