Rockville, Jan. 27, 2023 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global MRI-guided neurosurgical ablation market is valued at US$ 598.99 million in 2023 and is predicted to reach US$ 1.29 billion by the end of 2033.
When performing minimally-invasive procedures with a laser ablation system to treat various neuro-diseases such as brain tumours, the technique is known as MRI-guided neurosurgical ablation. With this approach, there are fewer surgical risks connected with removing a brain tumour as compared to open surgeries, and the discomfort and length of recuperation are also likely to be lessened.
Cases of brain tumours are increasing rapidly worldwide, which is further driving the sales of MRI-guided neurosurgical ablation systems. Due to recent technological breakthroughs such as the MRI-guided laser ablation platforms developed by Monteris & Visualase and the MRI Interventions neurosurgical navigation platform, the need for minimally-invasive MRI-guided neurosurgery has increased dramatically. The typical diagnostic MRI sets are the ones that use MRI-guided platforms the most.
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In a recent research study by neurologists and neurosurgeons, it was found that 80% of respondents thought that real-time MRI guidance would soon be used in functional neurosurgery. Furthermore, MRI-guided technologies are not just for researchers and far-off applications. The current prevalence of MRI-guided neurosurgery procedures, which involve a high number of patients, is expected to boost sales growth in the coming years.
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.
“Rapid technological advancements, especially automation, are driving the sales of MRI-guided neurosurgical ablation systems,” says a Fact.MR analyst.
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
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Winning Strategy
Key market players are concentrating on working closely with hospitals to commercialize their MRI-guided neurosurgical ablation devices. The top producers of MRI-guided neurosurgical ablation systems are maintaining and growing their global presence using long-term growth strategies.
Furthermore, suppliers of MRI-guided neurosurgical ablation equipment are making investments in developing nations to improve their capacity for sales & customer support and capture the maximum possible market share.
Recent Market Developments
- February 2022: The U.S. Food and Drug Administration (FDA) authorised Medtronic plc's InterStim X, which provides sacral neuromodulation therapy. As the device has a 10-year battery life, this will offer users more usability and require less maintenance.
- March 2022: To introduce a Touch Surgery Enterprise driven by AI, Medtronic PLC worked with Vizient. This technology makes it easier and simpler to analyse, document, and share surgical footage, which improves the surgeon's performance.
Key Companies Profiled
- AngioDynamics Inc
- Boston Scientific Corporation
- Insightec Ltd
- Medtronic PLC
- Monteris Medical Inc
- MRI Intervention Inc.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global MRI-guided neurosurgical ablation market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of product (RF ablation systems, laser ablation systems, focused ultrasound systems, accessories) and end user (hospitals, ambulatory surgical centers, clinics, research laboratories), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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