MRI-Guided Neurosurgical Ablation Market (By Product: Accessories, MRI-guided Laser Ablation Systems, MRI-guided Focused Ultrasound Systems, MRI-guided Radiofrequency Ablation Systems; By End-use: Clinics, Ambulatory Surgical Centers, Hospitals) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

The global MRI-guided neurosurgical ablation market is forecasted to grow at a CAGR around 4.3% from period 2019 to 2026 and reach around US$ 5.4 billion by 2026.

MRI-guided neurosurgical ablation is minimally invasive techniques, which are performed through laser, focused ultrasound or radiofrequency ablation. It is used for the treatment of various neurological-diseases including a brain tumor and spinal tumor among others. Laser ablation is most commonly used for the treatment of brain tumors, where the treatment uses laser beams to target and ablate the tumor presence in the brain. Moreover, the benefit associated with the laser ablation technique is reduced pain after surgery and short recovery time.  Along with this, MRgFUS or MRI-guided focused ultrasound system is again a non-invasive technique, but it uses a thermal ablation method for target definition, treatment planning, and closed-loop control of energy deposition. Along with this, a focused ultrasound system can temporarily change vascular or cell membrane permeability and release or activate various compounds for targeted drug delivery.

Market Dynamics

The increasing demand for non-invasive treatment for surgical procedures across the globe is primarily driving the market growth. The benefits offered by minimally invasive surgeries include minimum pain, high accuracy rate, reduced scarring, and low complication risk are accelerating the demand of MRI-guided neurosurgical ablation. The rising incidences of brain cancer and technological advancements associated with the techniques for the treatment across the globe is further stimulating the demand in the market. There are more than 120 types of brain and CNS tumors, which accounted for more than 0.33 million cases of CNS cancer and 0.22 million deaths globally. Additionally, according to National Institutes of Health (NIH), an estimated 23,820 new cases  of brain cancer are projected to be detected in the year 2019 in the U.S. Along with this, favorable reimbursement policies are also expected to drive demand over the forecast period. The certain advantages offered by accessories segments such as functionality, maneuverability, and precision to ensure patient safety during surgical procedures are also boosting the demand in the market.

On the other hand, the high cost associated with the MRI scanning and shortage of skilled neurosurgical workforce is likely to hamper the market growth over the forecast period. Whereas, emerging economies across the globe are expected to provide potential opportunity over the forecast period.

On the basis of product, the market is segmented into Accessories, MRI-guided Laser Ablation Systems, MRI-guided Focused Ultrasound Systems, and MRI-guided Radiofrequency Ablation Systems. From the aforementioned segments, accessories segment is accountable for the maximum share in the year 2018, owing to the rising adoption of advanced medical devices and accessories in hospitals. Along with this, the rising prevalence of brain cancer across the globe is again a factor fuelling the market value. MRI-guided laser ablation systems hold the second largest share in the product segment of MRI-guided neurosurgical ablation market.

On the basis of end-use, the market is segmented into clinics, ambulatory surgical centers, and hospitals. Hospitals accounted for the largest market share of MRI-guided neurosurgical ablation in terms of end-user. Number of hospitals are growing owing to the increasing prevalence of surgical procedures across the globe. Along with this, rising government spending on the development of healthcare infrastructure, coupled with the increasing number of cases of chronic disorders are expected to contribute to the segment growth over the forecast period. Apart from this, the segment is also expected to continue with the same pace over the forecast period. Moreover, increasing discretionary income is also contributing to the segment growth.

Report coverage

The market research study on “MRI-guided Neurosurgical Ablation Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insights on the global MRI-guided neurosurgical Ablation market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact in the market are provided in the report. The report provides insights on global MRI-guided neurosurgical ablation market, its product, end-use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global MRI-guided neurosurgical ablation market size, and segment markets by product, end-use, and geography along with the information on companies operating in the market. The MRI-guided neurosurgical ablation market analysis is provided for major regional markets including North America, Europe, China, Southeast Asia, Japan and India followed by major countries. For each region, the market size and volume for different segments has been covered under the scope of report.

On the basis of region, North America held the largest share in the global market with projected dominance throughout the forecast period. The region is domicile for major MRI-guided neurological ablation device manufacturers along with swift acceptance of novel technologies and expensive therapies. The growing prevalence of brain tumors in the region is another factor driving the market. Ongoing R&D activities in the healthcare sector and the rising adoption of minimally invasive procedures are contributing to the regional market growth. Asia Pacific accounts for the second largest market share in the MRI-guided neurosurgical ablation market. The region is primarily driven by increasing disposable income and rising healthcare expenditure by various governmental bodies and by major players. The rising incidence of brain tumors among the cancer patients is further propelling the market demand.

The major players profiled in the report include Medtronic plc., Boston Scientific Corporation, InSightec Ltd., Monteris Medical Corporation, MRI Interventions, INC., and AngioDynamics Inc. Companies are engaging in mergers & acquisition and strategic alliances with universities and academic institutes to develop innovative products and maintain a competitive edge over other competitors. Market players concentrate on launching new MRI-guided neurosurgical ablation equipment and accessories. Medtronic plc announced the CE Mark and European Visualase system launch, which presents superior MRI-guided laser ablation technology and can be used in neurosurgical procedures.  

Market Segmentation

Market By Product

• Accessories
• MRI-guided Laser Ablation Systems
• MRI-guided Focused Ultrasound Systems
• MRI-guided Radiofrequency Ablation Systems

Market By End-Use

• Clinics
• Ambulatory Surgical Centers
• Hospitals

Market By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa