MRI-guided Neurosurgical Ablation Market Size, Share, & Trends Report

MRI-guided Neurosurgical Ablation Market Size, Share, & Trends Analysis Report By Product (Radiofrequency Ablation Systems, Laser Ablation Systems), By End Use (Hospitals, Clinics, Ambulatory Surgical Centers), And Segment Forecasts, 2019 - 2026

  • Published Date: Jul, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-277-8
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 165

Industry Insights

The MRI-guided neurosurgical ablation market size was valued at USD 3.9 billion in 2018 and is anticipated to grow at a CAGR of 4.5%. Increasing adoption of minimally invasive neurosurgeries and increasing prevalence of brain cancer are some of the factors driving market growth. MRI-guided neurosurgical ablation is a technique used in minimally invasive surgeries performed through laser ablation system for treating various neuro-diseases such as brain tumor.

Rising adoption of minimally invasive neurosurgeries is one of the key factors driving market growth. Patients prefer minimally invasive surgeries due to faster recovery time, and surgeons use a number of tools to minimize surgical trauma. Surgeons adopt this technique to minimize the risk of surgery as it involves smaller incisions and smaller instruments compared to traditional surgical procedures.

U.S. MRI-guided neurosurgical ablation market

Minimally invasive surgeries also offer several other benefits such as reduced pain, minimal scarring, high accuracy rate, and decreased risk of complications. Therefore, surgeons recommend minimally invasive surgeries owing to its advantages compared to traditional methods, which in turn leads to increased demand for MRI-guided neurosurgical ablation.

Increasing prevalence of brain cancer is one of the factors driving the market. There are more than 120 types of brain and central nervous system tumors. According to International Agency for Research on Cancer, globally there are 260,000 new cases of brain cancer. According to National Institutes of Health, in 2019, 23,820 new brain cancer cases are expected to be diagnosed in the U.S.

Brain tumor are referred to mixed group of neoplasms originating from intracranial tissues with degrees of malignancy ranging from benign to aggressive. Each type of cancer has its own treatment, biology, and prognosis. Similarly, brain cancer has certain risk factors such as benign tumors, which occur due to abnormal growth of cells. Thus, increasing prevalence of brain cancer is anticipated to boost growth in the forecast period.

Product Insights

Accessories segment dominated the MRI-guided neurosurgical ablation market and is expected to grow at the highest CAGR. The requirement & use of accessories for medical devices is higher than the devices themselves. There are various accessories used for performing surgeries, including curettes-used for delicate & precise neurosurgeries-dissectors-which enable neurosurgeons to perform minimally invasive discectomy-and rongeurs-used for creating a window in the skull bone. These accessories are designed to help neurosurgeons in diagnosis, prevention, and rehabilitation of central nervous system.

As neurosurgeons routinely operate on the most delicate nervous system of the human body, they require certain accessories that can help in surgical treatment. Surgeons need high quality sets of accessories for surgical procedures to ensure optimal surgical outcomes. The accessories segment offer certain advantages such as functionality, maneuverability, and precision to ensure patient safety during surgical procedures, which in turn drives market growth.

End-use Insights

Hospitals segment dominated the market during the forecast period. Hospitals consists of separate departments for neurosurgery that include a team of senior consultants with expertise in various aspects of advanced neurosurgical techniques, and they are backed with an experienced and qualified support staff team, which improves efficiency. In hospitals, department of neurosurgery is well-equipped with operating rooms and intensive care units. Most neurosurgeries are performed in hospitals for positive outcomes and involve skilled neurosurgeons to perform complicated procedures such as MRI-guided laser ablation brain surgery, which uses laser technique for treatment of epilepsy and removing brain tumors.

MRI-guided neurosurgical ablation market

Ambulatory Surgical Centers (ASCs) provide outpatient surgeries, where patients are discharged the same day as the surgery. These centers use noninvasive surgical techniques as they are less complicated. Minimally invasive procedures pose reduced risk of damage or complications compare to open surgery. Thus, these procedures are being increasingly used to treat malignant brain tumors. Most ASCs use MRI-guided neurosurgical ablation technology for brain tumors, allowing surgeons to perform MRI-guided laser ablation surgery. This technique is less invasive and enables faster recovery compared to traditional methods. Thus, this segment is expected to exhibit the fastest growth over the forecast period, as patients have fewer complications in ASCs than in hospitals.

Regional Insights

North America dominated the market and is expected to witness substantial growth in the forecast period due to increase in prevalence of brain cancer & malignant brain tumors, presence of well-established healthcare facilities in the region, and availability of highly skilled neurosurgeons. North America market is driven by growing occurrence of targeted diseases such as neurodegenerative diseases and brain tumor, especially malignant (cancerous) tumors. Thus, increasing prevalence of neurological disorders and growing number of minimally invasive neurosurgical procedures are some of the factors driving growth.

Asia Pacific is expected to grow at the highest CAGR in the forecast period owing to factors such as increase in the number of skilled neurosurgeons, rise in medical tourism, and growing adoption of minimally invasive surgeries. In addition, countries in this region are advancing their intensive care units in hospitals as well as other ambulatory surgical units for neurosurgeries; this can be attributed to the growing prevalence of brain cancer, Alzheimer’s disease, and many other nervous system disorders. These factors are expected to drive the market at a significant pace.

MRI-guided Neurosurgical Ablation Market Share Insights

Some of the major players operating in the market are Medtronic plc; INSIGHTEC Ltd.; Monteris Medical, Inc.; and MRI Interventions, Inc. These players focus on the launch of new MRI-guided neurosurgical ablation devices and accessories, technological advancements, and growth strategies such as mergers & acquisitions. For instance, in May 2015, Monteris Medical announced the launch of NeuroBlate system, which is a minimally invasive laser thermotherapy, that uses MRI-guided surgical ablation technology designed for treatment of brain disorders. These advancements are anticipated impel growth over the forecast period.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2026

Market representation

Revenue in USD Million & CAGR from 2019 to 2026

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Country scope

U.S., Canada, U.K., Germany, France, Italy, Spain, Russia, Japan, China, India, Australia, South Korea, Singapore, Brazil, Mexico, Argentina, Colombia, South Africa, Saudi Arabia, UAE

Report coverage

Revenue, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global MRI-guided neurosurgical ablation market report on the basis of product, end use, and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2026)

    • MRI-guided Radiofrequency Ablation Systems

    • MRI-guided Laser Ablation Systems

    • MRI-guided Focused Ultrasound Systems

    • Accessories

  • End-use Outlook (Revenue, USD Million, 2015 - 2026)

    • Hospitals

    • Clinics

    • Ambulatory Surgical Centers

  • Regional Outlook (Revenue, USD Million, 2015 - 2026)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

      • Singapore

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

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