Home Research Reports MRI Guided Neurosurgical Ablation Market is projected to increase at a CAGR of 4.9% through 2028: FMI

MRI Guided Neurosurgical Ablation Market is projected to increase at a CAGR of 4.9% through 2028: FMI

by markit Wired
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According to the latest market report published by Future Market Insights titled ‘MRI-Guided Neurosurgical Ablation Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028’, the global MRI-guided neurosurgical ablation market is projected to expand at a CAGR of 4.9% during the forecast period 2018–2028 and reach US$ 216.3 Mn by the end of 2028.

Global MRI-guided Neurosurgical Ablation Market: Dynamics

The per capita healthcare expenditure is currently following an uptrend across both developed and developing economies, which has made possible to implement quality patient care treatment options. The growing awareness regarding minimally surgery is expected to fuel the demand for MRI-guided neurosurgical system in the global market. The demand for MRI-guided neurosurgical system is primarily emanating from countries such as the U.S., Germany, the U.K. and Australia due to factors such as enhanced emergency room services coupled with affordability.

According to a study published by the Oxford University in 2017, the overall incidence of brain cancer worldwide was 264,241 with prevalence of 5.57 per 100,000 people. The MRI-guided neurosurgical ablation system is more often used for the treatment of brain cancer, hence rising prevalence of brain cancer is expected to boost the growth of the market over the next decade. The MRI-guided neurosurgical ablation system requires a skilled neurosurgeon to perform the surgery efficiently, thereby shortage of neurosurgical workforce is a factor expected to hamper the growth of the MRI-guided neurosurgical ablation market.

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Global MRI-guided Neurosurgical Ablation Market: Forecast

The global MRI-guided neurosurgical ablation market is segmented on the basis of product type, end users and regions. On the basis of product type, the global MRI-guided neurosurgical ablation market has been segmented into MRI-guided laser therapy systems, MRI-guided RF ablation systems, MRI-guided focused ultrasound system and accessories. The MRI-guided ultrasound focused system segment is expected to grow at a significant rate as the use of the system omits the need of an incision, which is required during the surgical procedure.

The accessories segment is expected to dominate the global MRI-guided neurosurgical ablation market due to increasing adoption of minimally invasive surgery throughout the globe. The MRI-guided laser therapy systems segment is projected to witness significant growth compared to the MRI-guided RF ablation systems segment, and to reach the market value of US$ 30.9 Mn by 2028 with a CAGR of 4.0% over the forecast period.

MRI Guided Neurosurgical Ablation Market

On the basis of end users, the MRI-guided neurosurgical ablation market has been segmented into hospitals, ambulatory surgical centers and research laboratories. The hospitals segment is expected to dominate the global MRI-guided neurosurgical ablation market in 2018 as a large number of patients visit hospitals for the treatment of brain cancer. The ambulatory surgical center segment is estimated to account a high value share of 33.0% of the global MRI-guided neurosurgical ablation market by 2018 end and is expected to account for 30.2% share of the global MRI-guided neurosurgical ablation market by 2028 end.

On the basis of region, the MRI-guided neurosurgical ablation market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, China, Japan and Middle East & Africa. North America dominated the global MRI-guided neurosurgical ablation market with maximum value share in 2017, as MRI-guided neurosurgical ablation system were installed in more than 70 hospitals in the U.S. One-third of MRI-guided neurosurgical ablation market share by value is accounted by the U.S. due to increasing prevalence of cancer and rising adoption of minimally invasive surgeries. China and APECJ are the fast-growing regional markets for MRI-guided neurosurgical ablation due to rising prevalence of brain cancer and expansion strategies followed by the key manufacturers in the regions. Latin America and MEA are expected to witness sluggish growth in the global MRI-guided neurosurgical ablation market due to low awareness regarding MRI-guided neurosurgery and lack of medical professionals.

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Global MRI-guided Neurosurgical Ablation Market: Competitive Landscape

Examples of some of the top players operating in the global MRI-guided neurosurgical ablation market are Medtronic plc, Boston Scientific Corporation, Insightec Lmt, AngioDynamics Inc, Monteris Medical Inc, and MRI Intervention Inc. Maintaining and expanding international presence is an important long-term growth strategy of the leading manufacturers of MRI-guided neurosurgical ablation system. In addition, the manufacturers of MRI-guided neurosurgical ablation systems are investing in the emerging markets to strengthen their sales and service capabilities and gain maximum market share.

Why Future Market Insights?

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  • Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

Explore Wide-ranging Coverage of FMI’s Healthcare Market Insights Landscape

MRI-Guided Cardiac Ablation Market – MRI-Guided Cardiac Ablation Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment; 2017 – 2027

Biopsy Device Market – Global demand for biopsy devices is increasing, supported by rising incidence of cancer. Future Market Insights presents in-depth analysis of the global biopsy device market for the forecast period

Ablation Devices Market – A recent market study published by Future Market Insights (FMI) on the ablation devices market includes global industry analysis of 2014-2018 and opportunity assessment for 2019-2029

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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