MRI-guided Neurosurgical Ablation Market to Reach $5.6 Billion by 2026 | Worldwide Analysis by Product and by End Use

MRI-guided Neurosurgical Ablation Market to Reach $5.6 Billion by 2026 | Worldwide Analysis by Product and by End Use

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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%

The global MRI-guided neurosurgical ablation market size is expected to reach USD 5.6 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 4.5% over the forecast period. Increasing incidence of brain tumors & other nervous system disorders and increasing adoption of minimally invasive neurosurgeries are some of the factors anticipated to boost growth.

Increasing number of patients suffering from brain tumor is one of the factors expected to drive growth. Brain tumors can also spread to other sites in the brain (secondary or metastatic). Each type of cancer has its own treatment, biology, and prognosis. Similarly, brain cancer also has certain risk factors, which occurs due to abnormal growth of cells. According to the National Institutes of Health (NIH), in 2016, 1,65,813 people were living with brain cancer in the U.S. and in 2019, it is estimated that 17,760 people are expected to die due to brain cancer.

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Technological advancements are also expected to aid market growth. For instance, Medtronic developed a Visualase MRI-guided laser ablation device that monitors tissue ablation in real time. It has the smallest laser catheter with a diameter of 1.65 mm, which results in a smaller incision, helping patients recover faster. It uses laser technology to destroy unwanted soft tissues. Hence, rising number of minimally invasive procedures is expected to aid growth.

U.S. MRI-guided neurosurgical ablation market size, by product, 2015 - 2026 (USD Billion)

Further key findings from the study suggest: 

  • Accessories segment dominated the market in 2018. This can be attributed to increasing number of patients suffering from brain tumors, followed by benign tumors.
  • Hospitals segment dominated the market in 2018 with highest share owing to high prevalence of malignant tumors in central nervous system and increase in geriatric population.
  • North America dominated the mri-guided neurosurgical ablation market with highest revenue share in 2018 owing to increase in awareness about minimally invasive neurosurgeries and availability of skilled neurosurgeons.
  • Some of the key players are launching technologically advanced products and signing partnership agreements to gain competitive advantage in the industry. For instance, in January 2018, INSIGHTEC signed an agreement with VirginiaTech Carilion Research Institute (VTCRI) for developing MRI-guided noninvasive treatments.

MRI-guided neurosurgical ablation market share, by end use, 2018 (%)

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Grand View Research has segmented the MRI-guided neurosurgical ablation market on the basis of product, end use, and region:

MRI-guided Neurosurgical Ablation Product Outlook (Revenue, USD Million, 2015 – 2026)

  • MRI-guided Radiofrequency Ablation Systems
  • MRI-guided laser Ablation Systems
  • MRI-guided Focused Ultrasound Systems
  • Accessories

MRI-guided Neurosurgical Ablation End-use Outlook (Revenue, USD Million, 2015 – 2026)

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers

MRI-guided Neurosurgical Ablation 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
    • Mexico
    • Brazil
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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