Breakthrough MRI-guided Neurosurgical Ablation Treatment Offers Hope for Patients with Neurological Conditions
The global MRI-guided neurosurgical ablation market is valued at US$ 598.99 million in 2023. As per this new study by Fact.MR, global demand for MRI-guided neurosurgical ablation systems is expected to increase at a CAGR of 8% and reach a market valuation of US$ 1.29 billion by 2033. The MRI-guided neurosurgical ablation market is a rapidly growing segment of the medical technology industry. MRI-guided neurosurgical ablation is a minimally invasive surgical technique that uses high-intensity focused ultrasound (HIFU) or laser technology to destroy or ablate targeted tissue within the brain or other parts of the nervous system. This technique is primarily used to treat patients with neurological conditions such as Parkinson’s disease, essential tremor, and epilepsy. The market for MRI-guided neurosurgical ablation is being driven by a growing demand for minimally invasive surgical procedures that can provide effective and long-lasting relief for these and other neurological conditions
Other factors driving the growth of this market include an aging population, increasing awareness of the benefits of minimally invasive surgery, and a growing number of patients suffering from neurological conditions that can be treated with MRI-guided neurosurgical ablation
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Key Takeaways from Market Study
- The global MRI-guided neurosurgical ablation devices market is expected to increase at a CAGR of 8% from 2023 to 2033.
- China’s market is predicted to expand at a CAGR of 11.5% during the projected period.
- Sales of RF ablation systems are expected to rise at a CAGR of 9% during the forecast period.
- Demand for laser ablation systems is predicted to expand at a CAGR of 7% during the next 10 years.
Regional Analysis
The MRI-guided neurosurgical ablation market is growing globally, with North America, Europe, and Asia-Pacific being the largest markets. North America is the largest regional market for MRI-guided neurosurgical ablation, accounting for the largest share of the market due to the presence of a large number of major medical technology companies and a high prevalence of neurological disorders in the region. Additionally, the increasing demand for minimally invasive surgical procedures is expected to drive the growth of the market in this region. Europe is the second-largest regional market for MRI-guided neurosurgical ablation due to the increasing prevalence of neurological disorders and an aging population. The market is expected to grow rapidly in Asia-Pacific due to increasing healthcare expenditure, the growing prevalence of neurological disorders, and the increasing adoption of advanced medical technologies in the region.
Other regions such as Latin America, the Middle East, and Africa are expected to show moderate growth in the MRI-guided neurosurgical ablation market due to factors such as increasing healthcare expenditure and a growing awareness of the benefits of minimally invasive surgery. However, the lack of trained healthcare professionals and high costs of the technology may limit the growth of the market in these regions. Overall, the global MRI-guided neurosurgical ablation market is expected to continue growing at a significant rate in the coming years, driven by technological advancements, increasing prevalence of neurological disorders, and a growing demand for minimally invasive surgical procedures.
Winning Strategy
To successfully commercialise their MRI-guided neurosurgical ablation devices, major market participants are focusing on collaborating closely with hospitals. Using long-term growth strategies, the leading manufacturers of MRI-guided neurosurgical ablation devices are preserving and expanding their global presence.
Additionally, manufacturers of MRI-guided neurosurgical ablation equipment are investing in underdeveloped countries to increase their ability to provide sales and customer service and to seize the largest market share.
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Recent Market Developments
- February 2022: The InterStim X from Medtronic plc, which offers sacral neuromodulation therapy, has been approved by the American Food and Drug Administration (FDA). With a 10-year battery life, the gadget will be more usable and require less upkeep for consumers.
- March 2022: Medtronic PLC collaborated with Vizient to launch a Touch Surgery Enterprise powered by AI. The surgeon’s performance is enhanced by this technology’s ease of analysis, documentation, and sharing of surgical film.
Key Companies Profiled
- AngioDynamics Inc
- Boston Scientific Corporation
- Insightec Ltd
- Medtronic PLC
- Monteris Medical Inc
- MRI Intervention Inc.
MRI-guided Neurosurgical Ablation Industry Research Segments
- By Product :
- RF Ablation Systems
- Laser Ablation Systems
- Focused Ultrasound Systems
- Accessories
- By End User :
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Research Laboratories
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Key Questions Covered
- What is MRI-guided neurosurgical ablation, and how does it work?
- What are the key drivers and challenges in the MRI-guided neurosurgical ablation market?
- Who are the major players in the MRI-guided neurosurgical ablation market, and what are their strategies?
- What is the current market size of the MRI-guided neurosurgical ablation market, and what is its expected growth rate?
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