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The Global MRI-Guided Neurosurgical Ablation Market Size accounted for USD 628.9 Million in 2023 and is estimated to achieve a market size of USD 1,166.7 Million by 2032 growing at a CAGR of 7.2% from 2024 to 2032.
MRI-Guided Neurosurgical Ablation Market Highlights
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.
Global MRI-Guided Neurosurgical Ablation Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
MRI-Guided Neurosurgical Ablation Market Report Coverage
Market | MRI-Guided Neurosurgical Ablation Market |
MRI-Guided Neurosurgical Ablation Market Size 2022 |
USD 628.9 Million |
MRI-Guided Neurosurgical Ablation Market Forecast 2032 | USD 1,166.7 Million |
MRI-Guided Neurosurgical Ablation Market CAGR During 2023 - 2032 | 7.2% |
MRI-Guided Neurosurgical Ablation Market Analysis Period | 2020 - 2032 |
MRI-Guided Neurosurgical Ablation Market Base Year |
2023 |
MRI-Guided Neurosurgical Ablation Market Forecast Data | 2024 - 2032 |
Segments Covered | By Product, By End Use, And By Geography |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Companies Profiled | Hitachi Medical Systems, AngioDynamics, Varian Medical Systems, Abbott Laboratories, MRI Interventions, Inc., Boston Scientific Corporation, MR Solutions, Monteris Medical, InSightec Ltd., Medtronic, and Elekta AB. |
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis |
MRI-Guided Neurosurgical Ablation Market Insights
The increasing demand for non-invasive treatment for surgical procedures across the globe is primarily driving the MRI guided neurosurgical ablation 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 MRI guided neurosurgical ablation 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 MRI-guided neurosurgical ablation market forecast period.
MRI-Guided Neurosurgical Ablation Market Segmentation
The worldwide market for MRI-guided neurosurgical ablation is split based on product, end use, and geography.
MRI-Guided Neurosurgical Ablation Market By Product
According to MRI-guided neurosurgical ablation industry analysis, the product segment is sub-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 2023, 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.
MRI-Guided Neurosurgical Ablation Market By End Use
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.
MRI-Guided Neurosurgical Ablation Market Regional Outlook
North America
Europe
Asia-Pacific
Latin America
The Middle East & Africa
MRI-Guided Neurosurgical Ablation Market Regional Analysis
In terms of MRI-guided neurosurgical ablation market analysis, 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.
MRI-Guided Neurosurgical Ablation Market Players
Some of the top MRI-guided neurosurgical ablation companies offered in our report include Hitachi Medical Systems, AngioDynamics, Varian Medical Systems, Abbott Laboratories, MRI Interventions, Inc., Boston Scientific Corporation, MR Solutions, Monteris Medical, InSightec Ltd., Medtronic, and Elekta AB.
The MRI-guided neurosurgical ablation market size was valued at USD 628.9 million in 2023.
The CAGR of MRI-guided neurosurgical ablation is 7.2% during the analysis period of 2024 to 2032.
The key players operating in the global market are including Hitachi Medical Systems, AngioDynamics, Varian Medical Systems, Abbott Laboratories, MRI Interventions, Inc., Boston Scientific Corporation, MR Solutions, Monteris Medical, InSightec Ltd., Medtronic, and Elekta AB.
North America held the dominating position in MRI-guided neurosurgical ablation industry during the analysis period of 2024 to 2032.
Asia-Pacific region exhibited fastest growing CAGR for market of MRI-guided neurosurgical ablation during the analysis period of 2024 to 2032.
The current trends and dynamics in the MRI-guided neurosurgical ablation industry include increasing prevalence of neurological disorders drives demand for MRI-guided neurosurgical ablation, advancements in MRI technology enable more precise, minimally invasive procedures, rising patient preference for minimally invasive surgeries boosts market growth, and growing investments in healthcare infrastructure promote adoption of MRI-guided systems.
The hospitals end use held the maximum share of the MRI-guided neurosurgical ablation industry.
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