Global MRI Guided Neurosurgical Ablation Market Is Expected to Reach USD 883.53 million by 2027 : Fior Markets

MRI Guided Neurosurgical Ablation Market by Product (MRI Guided RF Ablation Systems, MRI Guided Laser Ablation System, MRI Guided Focused Ultrasound Systems, Accessories), End-User (Clinics, Hospitals, Ambulatory Surgical Center), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027

Newark, NJ, Aug. 27, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global MRI guided neurosurgical ablation market is expected to grow from USD 495.4 million in 2019 and to reach USD 883.53 million by 2027, growing at a CAGR of 7.5% during the forecast period 2020-2027.

MRI guided neurosurgical ablation market is witnessing significant growth from the past years. This growth is attributed to the utilization of MRI guided technologies expanding beyond research, clinicians performing an increasing number of MRI-guided neurological ablation procedures, and enabling a variety of minimally invasive procedures. The launch of MRI guided system has revolved the field of neurosurgery and is expected to propel the market growth. MRI guided neurosurgical ablation is a minimally invasive technique that is performed through laser and is focused on ultrasound or radiofrequency ablation. It is used in various neurological diseases like brain tumors and spinal tumors. The benefits of MRI guided neurosurgical ablation is the short recovery time and reduced pain after surgery. MRI guided neurosurgical ablation is one of the most commonly used treatments for brain tumors. It uses laser beams to target and ablates the tumor present in the brain and helps surgeons manage more challenging tumors like glioblastoma, which frequently recurs and can be life-threatening.

Global MRI guided neurosurgical ablation market is expected to witness significant growth, owing to growing awareness about minimally invasive techniques, favorable reimbursement policies, and increasing brain cancer cases. The high cost of MRI guided neurosurgical ablation and lack of skilled and trained professional hampers the market growth. Rising awareness among people regarding the treatment and diagnosis is likely to surge market growth. However, in 2016, the launch of an MRI guided focused ultrasound system has enabled significant growth opportunities for MRI guided neurosurgical ablation market. Therefore, the market players’ constant efforts for introducing technologically advanced products are expected to boost the market growth.

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Key players operating in the global MRI guided neurosurgical ablation market include Monteris Medical, Inc., Medtronic plc, Boston Scientific Corporation, MRI Interventions, Inc., AngioDynamics Inc., and INSIGHTEC Ltd. To gain a significant market share in the global MRI-guided neurosurgical ablation market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Medtronic plc. and Boston Scientific Corporation are some of the leading manufacturers of MRI guided neurosurgical ablation market.

For instance, in December 2017, Crospon, and Ireland based gastrointestinal disorder diagnostic company was acquired by Medtronic plc, in a transaction value of USD 45 million. This provided company to access FDA cleared devices of Crospon for assessing motility disorders.

Accessories segment dominated the market and held the largest share of 28.74% in the year 2019
On the basis of product, the global MRI guided neurosurgical ablation market is segmented into MRI guided RF ablation systems, MRI guided laser ablation system, MRI guided focused ultrasound systems, and accessories. Accessories segment dominated the market and held the largest share of 28.74% in the year 2019. This growth is attributed to the use of various accessories in performing surgeries. These MRI guided neurosurgical ablation accessories are designed to help neurosurgeons in the diagnosis and restoration of the central nervous system.

Hospital segment dominated the market and held the largest share of 38.41% in the year 2019
On the basis of end-user, the global MRI guided neurosurgical ablation market is segmented into clinics, hospitals, and ambulatory surgical centers. Hospital segment dominated the market and held the largest share of 38.14% in the year 2019. This growth is attributed to visit of a large number of patients in the hospitals that consist of senior consultants with expertise and are backed with the skilled support staff team. The ambulatory surgical center is expected to witness significant growth, as they perform procedures involving non-invasive surgical techniques.

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Regional Segment of MRI Guided Neurosurgical Ablation Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global MRI guided neurosurgical ablation market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America accounted for the major share of 25.63% in the year 2019. This is attributed to the growing number of minimally invasive neurosurgical procedures, the presence of well-established healthcare facilities, the availability of highly skilled neurosurgeons, and the increasing prevalence of brain cancers and malignant tumors. The market in the Asia-Pacific region is expected to witness significant growth. The countries in the Asia-Pacific region are expanding their intensive care unit hospitals and other ambulatory surgical units for the treatment of neurosurgeries as there are a large number of people suffering from brain cancer. The growth in the region is attributed to factors like the presence of a large patient base, rising healthcare expenditure by government, and increasing medical tourism.

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About the report:
The global MRI guided neurosurgical ablation market is analysed on the basis of value (USD million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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