Global MRI-guided Neurosurgical Ablation Market by Product (Accessories, Focused Ultrasound Systems, RF Ablation Systems, Laser Ablation Systems) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global MRI-guided neurosurgical Ablation market was valued at USD 493.4 Million in 2019. It is projected to grow at a compound annual rate (CAGR of 7.3%) between 2020 and 2027. Market growth is expected to be driven by the increasing prevalence of brain tumors, other neurological disorders, and the rising acceptance of less invasive neurosurgeries. Market growth is driven by a rising number of brain tumor patients. According to the World Cancer Research Fund International Data Report 2018, there were 296,851 new cases worldwide of central nervous system and brain cancer. According to the American Cancer Society 2020 report, approximately 23,820 cases of malignant brain cancers will be diagnosed in the United States in 2020. This will increase the demand for MRI-guided, neurosurgical ablation over the forecast period.

Market growth is largely driven by the increasing adoption of minimally invasive neurosurgeries. Minimally invasive surgery is preferred by patients because it reduces recovery time. Surgeons also use a wide range of tools to minimize trauma to the body tissues during surgeries. This method reduces the risk of surgery, and requires fewer incisions and instruments than traditional surgery. This technique minimizes the need for incisions and allows surgeons cosmetically to hide scarring. These surgeries can also be used for benign and brain tumors. Patients recover quicker and surgeons have more time to perform other surgeries. Because of their benefits over traditional methods, neurosurgery surgeons often recommend minimally invasive procedures to patients. This has led to a rise in demand for MRI-guided Neurosurgical Ablation.

Different governments and private organisations are taking various initiatives to raise awareness about early diagnosis and treatment of brain disorders. The month of May has been designated "Brain Tumor Awareness Month". National Brain Tumor Society's "It's Your Fight. It's Our Fight" campaign aims to educate and engage people through activities that can increase awareness and cure brain tumors. The Brain Tumor Charity funded the HeadSmart national awareness campaign. It aims to decrease the time it takes to diagnose brain cancers in children and to keep the diagnosis times down to four weeks. The market is expected to grow due to increased awareness about diagnosis and treatment.

In recent years, countries like the U.S. have seen an increase in brain-related disorders and more surgeries. The market is being driven by the increasing incidence of brain cancer. According to the National Brain Tumor Society in the United States, approximately 700,000 people have brain tumors. This includes 69.8% benign tumors and 30.2% of malignant tumors. In 2020, it is expected that approximately 87.240 people will have a primary brain tumour. According to the Brain Tumor Foundation of Canada (Canada), approximately 55,000 Canadians are living with a primary brain tumor. In 2020, around 3,000 Canadians will also be diagnosed with spinal cord and brain cancer. The market is expected to grow by increasing brain cancer prevalence over the forecast period.

In the developing and developed worlds, there are increasing numbers of brain tumors. This has led to the development of new products. Insightec's MRgFUS (MR-guided focused ultrasound) can be used to treat essential tremor or tremor-dominant PD. The procedure is non-invasive and uses ultrasound beams to heat and remove targeted tissue from the brain. Market players are constantly trying to introduce technologically advanced products into the market.

Product Insights

The market for MRI guided neurosurgical ablation can be divided by product into MRI–guided RF ablation system, MRI–guided laser ablation system, MRI–guided focused ultrasound system, and accessories. With a market share of 31.6%, accessories dominated the market in 2019. It is expected to grow the most from 2020-2027. Accessories are more commonly used than the devices. There are many accessories that can be used in surgery, including curettes, which can be used to perform delicate and precise neurosurgeries. Rongeurs are used to open a skull bone window in neurosurgery. Dissectors allow neurosurgeons the ability to perform minimally invasive discectomy. These accessories aid neurosurgeons in diagnosing and restoring the central nervous system. The accessories segment is expected to grow because of the many benefits it offers.

Neurosurgeons are required to have certain accessories in order to perform their surgeries on the delicate nervous system. To ensure the best possible surgical results, surgeons require high-quality accessories to aid in their operations. These accessories have certain benefits, including the ability to meet the quality standards in terms of functionality and maneuverability. This will ensure that patients are safe during a surgical procedure. Accordingly, the forecast period will see a rise in demand for MRI-guided Neurosurgical Ablation Devices.

End-use Insights

The market can be divided into three segments based on end-use: hospitals, clinics and Ambulatory Surgery Centers. With a 65.3% share in 2019, the hospital segment was dominant. Hospitals have an independent department for neurosurgery, which includes a team of senior consultants who are highly skilled and backed by a skilled support staff team. This makes it easier to work efficiently. The hospital's department of neurosurgery has the latest technology. As hospitals provide the best treatment, most neurosurgeries are done in hospitals. This allows skilled neurosurgeons and neurosurgeons to perform complex neurosurgical procedures such as MRI-guided brain surgery. This uses laser technology to treat epilepsy or remove a tumor. These factors will likely increase demand for MRI-guided, neurosurgical ablation devices over the forecast period.

ASCs will grow at a 7.8% CAGR from 2020-2027. ASCs are medical facilities that offer same-day surgery and do not require patients to stay over night. Because they are less invasive, they perform fewer complications. This procedure causes less harm to the body than open surgery. A majority of ASCs offer MRI-guided neurosurgical treatment for brain tumors. This allows surgeons to perform MRI guided laser ablation surgery. This surgical procedure is less invasive and has a shorter recovery time than the traditional one. This segment is expected to grow the fastest because it treats patients with fewer complications that hospitals.

Regional Insights

North America held a 34.6% share of the market in 2019, The market's 34.6% share in 2019 was largely due to the existence of well-established healthcare facilities, the increasing incidence of brain cancers and malignant tumors, as well as the availability of highly skilled neurosurgeons. North America's market is primarily driven by the increasing occurrence of targeted diseases such as neurodegenerative disorders and brain tumors, most often malignant. The market is also being driven by the presence of key players such as Medtronic and Boston Scientific Corporation. The market is driven by a growing number and prevalence of neurology disorders, as well as minimally invasive neurosurgical procedures.

Asia Pacific is projected to grow at 7.6% CAGR between 2020 and 2027. This is due to factors like a large patient population, growing healthcare expenditure, and the adoption of minimally invasive surgery. As a result of the large number of patients suffering from Alzheimer's disease and brain cancer, many countries in the region are increasing their intensive care units. These factors are driving market growth in the region.

Market Share Insights & Key Companies

To gain an edge in the marketplace, companies are investing heavily in research and development. In January 2019, MRI Interventions, Inc., a neurosurgery firm, received FDA approval for ClearPoint PURSUIT Neur Aspiration system. This device was developed in collaboration with the Mayo Clinic. It is used to aspirate clotted blood and cystic tumors, colloid cysts and cerebral spinal fluid. In April 2018, Medtronic also announced the launch in Europe of the Visualase MRI Guided Laser Ablation system. This laser therapy is a minimally invasive procedure that targets small amounts of tissue and can be used to treat brain disorders. These innovations are expected to increase the market's growth during the forecast period.

Mergers, partnerships and acquisitions are common in order to expand product lines, increase manufacturing capabilities, and offer more competitiveness. Insightec, for example, raised USD 150 million in March 2020 to develop an incisionless surgical device that can treat tremor in patients who aren't responsive to medications and tremor-dominant PD. Medtronic also acquired Crospon, a Crospon-based diagnostic company for gastrointestinal disorders, in a deal worth USD 45 million. The acquisition of Crospon, an FDA-cleared device by Crospon has allowed the company to assess motility disorders using this FDA-cleared device. The following are some of the most prominent players in the MRI guided neurosurgical ablation market:

• Medtronic

• INSIGHTEC

• Boston Scientific Corporation

• Monteris Medical, Inc.

• MRI Interventions, Inc.

• MRI Interventions, Inc.

Up Market Research published a new report titled “MRI-guided Neurosurgical Ablation Market research report which is segmented by Product (Accessories, Focused Ultrasound Systems, RF Ablation Systems, Laser Ablation Systems), By Players/Companies Monteris Medical Inc, MRI Interventions Inc, Medtronic, Boston Scientific Corporation, MRI Interventions Inc, INSIGHTEC”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global MRI-guided Neurosurgical Ablation Market Report Segments:

The market is segmented by Product (Accessories, Focused Ultrasound Systems, RF Ablation Systems, Laser Ablation Systems).

MRI-guided Neurosurgical Ablation Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the MRI-guided Neurosurgical Ablation Market

Overview of the regional outlook of the MRI-guided Neurosurgical Ablation Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The MRI-guided Neurosurgical Ablation Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of MRI-guided Neurosurgical Ablation Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Accessories

                2. Focused Ultrasound Systems

                3. RF Ablation Systems

                4. Laser Ablation Systems

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the MRI-guided Neurosurgical Ablation Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the MRI-guided Neurosurgical Ablation Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.