According to a recent study by Future Market Insights (FMI), the global MRI guided neurosurgical ablation market demonstrated significant growth in 2021, achieving revenues of USD 154 million. The market is projected to continue its upward trajectory, reaching USD 216.3 million by 2028, expanding at a compound annual growth rate (CAGR) of 5% from 2022 to 2028.
MRI guided neurosurgical ablation devices currently hold a substantial 13% share within the global ablation devices market, underlining their increasing prominence in the healthcare industry. The demand for MRI-guided neurosurgical ablation accessories is also expected to see steady growth, with a forecasted CAGR of 5.8% throughout the assessment period.
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“The growth of the MRI guided neurosurgical ablation market reflects advancements in medical technology and rising demand for minimally invasive procedures,” stated a spokesperson from Future Market Insights. “These devices are becoming integral in the treatment of neurological disorders, driving their adoption worldwide.”
MRI guided neurosurgical ablation procedures offer precise targeting and minimal damage to surrounding tissues, contributing to their popularity among healthcare providers and patients alike. As technological innovations continue to enhance these devices’ capabilities, further expansion of the market is anticipated across regions.
Key Takeaways: MRI-Guided Neurosurgical Ablation Market
- The global market for MRI-guided neurosurgical ablation is expected to reach USD 216.3 million by 2028, growing at a steady pace.
- The U.S. market is a leader due to factors like advanced technologies, strong healthcare infrastructure, and a growing number of qualified neurosurgeons.
- Increased investment by major players and the development of improved outpatient facilities are propelling the U.S. market forward.
- China is another promising market with a large patient base, rising healthcare spending, and medical tourism.
- An aging population with greater access to healthcare spending is expected to fuel market growth in China.
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MRI Guided Neurosurgical Ablation Market Competitive Landscape:
Key companies are prioritizing direct collaborations with hospitals to advance their MRI-guided neurosurgical ablation systems. Moreover, maintaining and expanding their global footprint constitutes a crucial long-term growth strategy for leading manufacturers in this field.
Furthermore, providers of accessories for MRI-guided neurosurgical ablation are increasing their investments in emerging markets to bolster their sales and service capabilities and capture a larger market share.
For example, in March 2020, Insightec allocated USD 150 million towards developing an incisionless surgical device designed to treat tremors in patients with medication-resistant or tremor-dominant Parkinson’s disease.
Key Companies Profiled:
- Medtronic
- INSIGHTEC
- Boston Scientific Corporation
- Monteris Medical, Inc.
- MRI Interventions, Inc.
- AngioDynamics Inc.
- ClearPoint Neuro, Inc.
- Smith & Nephew plc
- St. Jude Medical, Inc.
Key Segments Covered in MRI Guided Neurosurgical Ablation Industry Research:
MRI Guided Neurosurgical Ablation Market by Product Type:
- MRI Guided Laser Therapy Systems
- MRI Guided RF Ablation Systems
- MRI Guided Focused Ultrasound Systems
- Accessories
- Probes
- Electrodes
MRI Guided Neurosurgical Ablation Market by End User:
- Hospitals
- Ambulatory Surgical Centers
- Research Laboratories
MRI Guided Neurosurgical Ablation Market by Region
- North America MRI Guided Neurosurgical Ablation Market
- Latin America MRI Guided Neurosurgical Ablation Market
- Europe MRI Guided Neurosurgical Ablation Market
- East Asia MRI Guided Neurosurgical Ablation Market
- South Asia & Pacific MRI Guided Neurosurgical Ablation Market
- Middle East & Africa (MEA) MRI Guided Neurosurgical Ablation Market
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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