USD 566.92 million
Global MRI-Guided Neurosurgical Ablation Market Size, Share, Growth Analysis, By Product(MRI Guided RF Ablation Systems, MRI Guided Laser Ablation Systems), By End-use(Hospitals, Clinics and Ambulatory Surgical Centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35H2181 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
62 |
Figures:
76
Global MRI-Guided Neurosurgical Ablation Market Insights
Global MRI-Guided Neurosurgical Ablation Market size was valued at USD 566.92 million in 2021 and is poised to grow from USD 608.31 million in 2022 to USD 1068.86 million by 2030, growing at a CAGR of 7.3% in the forecast period (2023-2030).
The growth of the market is due to the rising incidence of nervous system-related diseases and brain tumors, as well as the growing use of less invasive neurosurgery techniques. Moreover, the market is driven by the increasing use of minimally invasive neurosurgery treatments.
Because minimally invasive surgeries can advance recovery, patients are choosing them more. Neurosurgeons use a variety of specialized instruments to reduce tissue injury during these procedures. Compared to typical surgical approaches, this strategy lowers surgical risks and requires fewer incisions and instruments.
Furthermore, In February 2022, Researchers at UCL created a revolutionary cancer treatment that heats and destroys tumors by using an MRI scanner to direct a magnetic seed across the brain. This treatment eradicates the tumor accurately without damaging healthy tissues, potentially avoiding usual harmful effects.
In addition to reducing the number of notches needed, this procedure has the added benefit of cosmetically beating wounds. Applications for minimally aggressive techniques include the treatment of benign and malignant brain tumors.
These techniques are less intrusive, which allows surgeons to spend more time doing other surgeries and allows patients to recover more speedily. Because minimally invasive procedures have many profits over traditional treatment options, doctors are increasingly endorsing them to patients during neurosurgical surgeries.
Developments in high-resolution, real-time magnetic resonance imaging (MRI) have enhanced the accuracy and safety of neurosurgery procedures. These improvements have allowed surgeons to visualize the brain in real-time, display the ablation process, and change course throughout the procedure as necessary.
This tactic has reduced the risk of destructive healthy brain tissue while also improving patient consequences. For instance, in December 2022, physicians at UT Southwestern introduced an enhanced aiming technique known as four-tract tractography.
This innovation aims to adapt MRI-guided, high-intensity focused ultrasound (HIFU) treatments, which are utilized at UTSW for patients with medication-resistant tremors in essential tremor and tremor-dominant Parkinson's disease.
One of the high influences contributing to the growth of the market is the rising number of patients with brain tumors. According to the American Cancer Society, there will be almost 24,810 new instances of brain and other nervous system cancer in 2023, and there will be 18,990 estimated deaths from these cases.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
MRI guided RF ablation systems
Fastest Growth
MRI guided laser ablation systems
Growth Rate
7.3% CAGR
Global MRI-Guided Neurosurgical Ablation Market ($ Bn)
Country Share for North America Region (%)
Global MRI-Guided Neurosurgical Ablation Market By Technology ($ Bn)
Global MRI-Guided Neurosurgical Ablation Market By Technology (%)
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Global MRI-Guided Neurosurgical Ablation Market Segmental Analysis
Global MRI-guided neurosurgical ablation market is segmented on the basis of technology, end use and region. By Technology, the market is segmented into MRI guided RF ablation systems, MRI guided laser ablation systems, MRI guided focused ultrasound systems and accessories. By end use, the market is segmented into Hospitals, Clinics and Ambulatory surgical centers. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Technology
In 2022, the accessories segment dominated the market with a 31.6% market share. When compared with other equipment, accessories are used more frequently. For instance, curettes are used for accurate and delicate neurosurgeries, rongeurs are used to create a gap in the skull bone during neurosurgery, and dissectors consent neurosurgeons to do a minimally invasive discectomy. These accessories are intended to support neurosurgeons in the diagnosis and CNS restoration. Reimbursements provided by the accessories market are therefore anticipated to drive the segment's development.
The market is the fastest-growing segment of the medical technology industry that emphasizes the use of MRI guidance for ablation procedures in the field of neurosurgery. This technology influences the accuracy and real-time imaging abilities of (magnetic resonance imaging) MRI to enhance the precision and safety of ablation procedures in the brain.
Analysis By End Use
The hospital segment held a 65.3% market share, in 2022. Hospitals have distinct departments enthusiastic about neurosurgery, each with a group of qualified senior doctors and an expert to help them function effectively. Hospital neurosurgery branches are well-stocked with cutting-edge medical equipment. Since hospitals recommend the best care and require exceedingly qualified neurosurgeons to achieve complex neurosurgical procedures such as brain surgery, which uses laser technology to treat epilepsy and remove a brain tumor, the mainstream of neurosurgeries is performed there. For the interval of the projection period, it is therefore predictable that these factors would raise demand for devices.
The ambulatory surgical center's segment is predicted to grow at the fastest rate of 7.8%. The ambulatory surgical centers are medical facilities that offer same-day surgeries without challenging patients to remain overnight. Because non-invasive surgical techniques have fewer difficulties, they are mainly used in these surgeries. Compared to open surgery, there is less physical damage. When treating brain tumors, the mainstream of ASCs employs MRI-guided neurosurgical ablation equipment, which allows physicians to perform MRI-guided laser ablation surgery. This surgical process is less invasive and, in most circumstances, requires less interruption than the conventional tactic. Since it pleasures patients with fewer complications than hospitals, this category is therefore predicted to develop at the maximum rate.
Global MRI-Guided Neurosurgical Ablation Market By Technology, 2023 (%)
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Global MRI-Guided Neurosurgical Ablation Market Regional Insights
North America held a 34.6% market share. This is illuminated by the region's well-established healthcare facilities, the rising prevalence of brain tumors and malignancies, and the convenience of highly qualified neurosurgeons. The market for North America is primarily driven by the rising incidence of detailed disorders including brain tumors, most of which are malignant, and neurodegenerative diseases. Additionally, the market expansion in the area is being supported by the incidence of significant important players. Thus, the primary factors driving the market are the increasing number of minimally invasive neurosurgery procedures and the rising incidence of neurological diseases.
The Asia Pacific is projected to grow at the fastest rate of 7.6% CAGR in 2022, due to several factors, including a substantial patient population, increased medical tourism, rising government spending on healthcare, and the adoption of minimally invasive surgeries. Furthermore, because there are numerous people in this region suffering from brain cancer, Alzheimer's disease, and numerous other nervous system disorders, countries in this region are growing their exhaustive care units in hospitals as well as other ambulatory surgical units for the treatment of neurosurgeries. Accordingly, these elements are driving market growth in this area.
Global MRI-Guided Neurosurgical Ablation Market By Region, 2024-2031
- Largest
- Fastest
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Global MRI-Guided Neurosurgical Ablation Market Dynamics
Drivers
Rising Incidence of Neurological Disorders
- The demand is mostly driven by the increased prevalence of neurological conditions. Numerous diseases impact the nervous system, which are characterized as neurological disorders. Some of these disorders have the potential to be fatal or extremely disabling. Innovative therapeutic methods like MRI-guided neurosurgical ablation are becoming more popular.
Minimally Invasive Neurosurgery
- The market focuses on leveraging the precision and real-time imaging abilities of magnetic resonance imaging to enhance the accuracy and safety of slightly invasive neurosurgery procedures. This particular segment of the medical technology industry is driven by the increasing demand for less invasive methods to treat various neurological conditions, like brain tumors and epilepsy. Minimally invasive neurosurgery techniques, guided by MRI, offer shorter hospital stays, quicker recovery times, offer patients reduced pain while providing surgeons with the tools to precisely target and ablate abnormal brain tissue, ultimately improving patient consequences and reducing the risk of complications related to traditional surgical methods.
Restraints
Insurance and Reimbursement Challenges
- Insurance and reimbursement challenges are the main restraints in the MRI-guided neurosurgical ablation market. While these advanced procedures offer advanced treatment opportunities for patients with neurological conditions, insurance coverage and reimbursement policies can vary widely, posing financial hurdles for patients seeking such treatments. Some insurance workers may not fully cover the cost of MRI-guided neurosurgical ablation, leaving patients to bear a significant portion of the expenses, potentially preventing them from pursuing these procedures. The lack of standardized reimbursement policies across regions and insurance plans adds difficulty to the financial aspects of retrieving these treatments, creating differences in patient access and hypothetically limiting the broader adoption of this technology. Addressing these challenges is crucial to ensure reasonable access to MRI-guided neurosurgical ablation and to endorse its integration into mainstream healthcare facilities.
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Global MRI-Guided Neurosurgical Ablation Market Competitive Landscape
The market competitive landscape for neurosurgical ablation guided by magnetic resonance imaging (MRI) offers information fragmented down by intranet. In-depth information is provided about the product launch, product width and breadth, application dominance, new market initiatives, company strengths, weaknesses, production facilities and sites, production capacities, R&D spending, finances, and Revenue.
Top Player’s Company Profiles
- InSightec Ltd.
- Elekta AB
- Profound Medical
- Boston Scientific Corporation
- MR Solutions
- MRI Interventions, Inc.
- Varian Medical Systems
- AngioDynamics
- Abbott Laboratories
- Hitachi Medical Systems
- IMRIS, Deerfield Imaging
- Accuray Incorporated
- Perseon Corporation
- Elekta AB
- Isacord
- Monteris Medical
- Focal Therapeutics
- Shamrad Electronics
Recent Developments
- In February 2022, the U.S. Food and Drug Administration (FDA) approved Medtronic plc for InterStim X, a device that offers sacral neuromodulation therapy. Notably, this approval is significant as the device boasts an extended battery life of 10 years, promising patients greater convenience and reduced maintenance requirements.
- In March 2022, Medtronic plc established a collaborative partnership with Vizient to introduce Touch Surgery Enterprise, an AI-powered solution. This innovative technology is designed to streamline the tasks of analyzing, documenting, and sharing surgical videos, ultimately enhancing the performance of surgeons.
Global MRI-Guided Neurosurgical Ablation Key Market Trends
Patient-Centric Care
- Patient-centric care is an essential trend in the MRI-guided neurosurgical ablation market, emphasizing a personalized approach to treatment. This patient-centered model places the individual at the heart of decision-making, since their exclusive needs and preferences. In the context of MRI-guided ablation, patient-centric care interprets into adapting procedures to the specific condition and characteristics of each patient. This approach not only arranges minimally invasive, exact treatments but also encourages collective decision-making, safeguarding that patients are active participants in their healthcare journey. As a result, patient-centric care improves the overall experience, encourages positive outcomes, and aligns with the broader shift towards more adapted and responsive healthcare services in neurosurgery.
Global MRI-Guided Neurosurgical Ablation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global MRI-guided neurosurgical ablation Market analyses, the market is a fast-evolving and increasingly dynamic segment of the medical technology industry. It is largely determined by the rising incidence of neurological disorders and brain tumors and the mounting adoption of minimally invasive neurosurgical techniques. Unconventional MRI technology, with its simultaneous imaging capabilities, has considerably improved procedure exactness and patient outcomes. The market is marked by a movement towards patient procedures, a global expansion, and the incorporation of artificial intelligence to improve treatment planning. Furthermore, industry alliances and the emphasis on patient-centric care are formative to the market's landscape, fostering more precise and adapted treatments. However, restraints like high equipment budgets, complex procedures, and diverse insurance coverage present challenges to its wider adoption. Despite these challenges, the MRI-guided neurosurgical ablation market shows potential, and continuing growth is expected to drive further growth in the field.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 566.92 million |
| Market size value in 2031 | USD 1068.86 million |
| Growth Rate | 7.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global MRI-Guided Neurosurgical Ablation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global MRI-Guided Neurosurgical Ablation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global MRI-Guided Neurosurgical Ablation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global MRI-Guided Neurosurgical Ablation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global MRI-Guided Neurosurgical Ablation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global MRI-Guided Neurosurgical Ablation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global MRI-Guided Neurosurgical Ablation Market Report Snapshots
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