MRI Guided Neurosurgical Ablation Market Size, Share, Analysis, Trends, Growth, 2032

MRI Guided Neurosurgical Ablation Industry Prospective:

The global MRI guided neurosurgical ablation market size was worth around USD 171.77 million in 2023 and is predicted to grow to around USD 302.76 million by 2032 with a compound annual growth rate (CAGR) of roughly 6.5% between 2024 and 2032.

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MRI Guided Neurosurgical Ablation Market: Overview

Thermal energy (heat) or other techniques are used to precisely target and eliminate specific brain regions or other neurological structures, such as tumors or aberrant tissue, in MRI-guided neurosurgical ablation. The above-mentioned process is typically carried out in tandem by interventional radiologists and neurosurgeons. Benefits include better precision in detecting the abnormal tissue, reduced danger to the surrounding healthy tissue, and the opportunity to view the target area in real-time as the surgery is being performed. It is widely used to treat conditions like essential tremor, Parkinson's disease, and epilepsy as well as brain tumors and movement abnormalities.

Key Insights

• As per the analysis shared by our research analyst, the global MRI Guided Neurosurgical Ablation market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2024-2032).
• In terms of revenue, the global MRI Guided Neurosurgical Ablation market size was valued at around USD 171.77 million in 2023 and is projected to reach USD 302.76 million, by 2032.
• The rising neurological disorder across the globe is expected to drive the MRI guided neurosurgical ablation market growth over the forecast period.
• Based on the product, the accessories segment is expected to capture the largest market share over the projected period.
• Based on the end-use, the hospital segment is expected to capture a significant market share over the projected period.
• Based on region, North America is expected to dominate the market during the forecast period.

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MRI Guided Neurosurgical Ablation Market: Growth Drivers

Technological advancements drive market growth

To achieve higher picture quality, resolution, and signal-to-noise ratio in high-field MRI systems, stronger magnetic fields—typically 3 Tesla or more—have been produced. By facilitating enhanced vision of minute anatomical details, microscopic lesions, and subtle tissue changes, high-field MRI enhances diagnostic accuracy. With the use of real-time MRI techniques, images may be obtained and viewed instantly, allowing for dynamic imaging of moving parts such as the digestive system, joints, and heart. Real-time magnetic resonance imaging (MRI) has applications in joint movement monitoring, cardiac function assessment, and surgical guidance. Thus, this advancement drives the MRI guided neurosurgical ablation market growth over the projected period.

MRI Guided Neurosurgical Ablation Market: Restraints

Competition from alternative treatment hinders market growth

MRI-guided neurosurgical ablation competes with other therapeutic approaches for neurological diseases, including radiation therapy, pharmaceutical therapies, and open surgery. Several variables, including the disease stage, the features of the patient, and the preferences of the doctor, may influence MRI-guided ablation operations. Patients', referring physicians', and healthcare workers' ignorance of the advantages and accessibility of MRI-guided neurosurgical ablation may be a major obstacle to the growth of the MRI guided neurosurgical ablation industry. Furthermore, due to the specialized nature of these therapies, neurosurgeons and interventional radiologists need to be trained and competent, which may generate issues with skill development and knowledge exchange.

MRI Guided Neurosurgical Ablation Market: Opportunities

Rising collaboration offers a lucrative opportunity for market growth

The increasing collaboration is expected to offer a lucrative opportunity for MRI guided neurosurgical ablation market growth during the forecast period. For instance, in March 2022, Vizient and Medtronic plc worked together to provide an AI-powered Touch Surgery Enterprise. With the use of this technology, the analysis, recording, and sharing of surgical footage will be made more straightforward, which will improve the performance of the surgeon. Touch Surgery Enterprise, the first AI-powered surgical video management and analytics platform for the operating room (OR), dramatically streamlines the process of capturing, evaluating, and sharing surgical video, giving surgeons a potent new tool to enhance performance and instruct colleagues.

MRI Guided Neurosurgical Ablation Market: Challenges

High cost and lack of skilled personnel pose a major challenge to market expansion

One of the biggest problems that developing nations confront is the high costs associated with purchasing equipment and supplies. Furthermore, a lot of people worldwide find this to be the least practical alternative due to the higher-than-average treatment expenses associated with such technology. Furthermore, only a few numbers of surgeons, practitioners, and physicians are knowledgeable about how to use this technology for therapy because it is not widely or abundantly available. Thus, posing a major challenge to the MRI guided neurosurgical ablation market expansion.

MRI Guided Neurosurgical Ablation Market: Segmentation

The global MRI Guided Neurosurgical Ablation industry is segmented based on product, end-use, and region.

Based on the product, the global MRI Guided Neurosurgical Ablation market is bifurcated into MRI Guided Laser Ablation Systems, MRI Guided RF Ablation Systems, MRI Guided Focused Ultrasound Systems, and Accessories. The accessories segment is expected to capture the largest market share over the projected period. When compared to the equipment, accessories are used more frequently. A variety of instruments and equipment are utilized during surgery. For example, curettes are used for precise and delicate neurosurgeries, rongeurs are used to create a window in the skull bone during neurosurgery, and dissectors allow neurosurgeons to do a minimally invasive discectomy. These accessories are intended to support neurosurgeons in the diagnosis and CNS repair. Benefits provided by the accessories market are therefore anticipated to drive the sector's expansion.

Based on the end-use, the global MRI Guided Neurosurgical Ablation industry is bifurcated into Hospitals, Clinics, and Ambulatory Surgical Centers. The hospital segment is expected to capture a significant market share over the projected period. Because hospitals have separate departments dedicated to neurosurgery, each with a team of highly qualified senior consultants and competent support staff, the departments function effectively. Modern equipment is provided to the neurosurgery department at hospitals. Because hospitals offer the best care and require highly qualified neurosurgeons to perform complex neurosurgical procedures like MRI-guided laser ablation brain surgery, which uses laser technology to treat epilepsy and remove a brain tumor, the majority of neurosurgeries are performed there. It is therefore expected that during the projected period, these factors would drive up demand for MRI-guided neurosurgical ablation devices.

MRI Guided Neurosurgical Ablation Market: Report Scope

MRI Guided Neurosurgical Ablation Market: Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the MRI guided neurosurgical ablation market during the forecast period. This is explained by the existence of reputable medical institutions in the area, the rising incidence of brain tumors & cancers, and the accessibility of highly qualified neurosurgeons. The market for North America is primarily driven by the rising incidence of specific disorders including brain tumors, most of which are malignant, and neurodegenerative diseases. Furthermore, the market expansion in the area is being aided by the presence of significant important players like Boston Scientific Corporation, Insightec Ltd., and Medtronic. Therefore, the primary factors driving the market are the rising number of minimally invasive neurosurgery procedures and the rising incidence of neurological diseases.

Besides, the Asia Pacific is expected to grow at the highest CAGR during the forecast period because of factors like the prevalence of a big patient base, increased medical tourism, growing government spending on healthcare, and the use of less intrusive surgery. Furthermore, as a result of the high number of patients with brain cancer, Alzheimer's disease, and numerous other nervous system disorders, countries in this region are growing their critical care units in hospitals as well as other ambulatory surgical units for the treatment of neurosurgeries. Thus, these elements are contributing to the expansion of the industry in this area.

MRI Guided Neurosurgical Ablation Market: Competitive Analysis

The global MRI Guided Neurosurgical Ablation market is dominated by players like:

• Boston Scientific Corporation
• Medtronic
• INSIGHTEC
• MRI Interventions Inc.
• AngioDynamics Inc.
• Monteris Medical Inc.
• Smith & Nephew plc
• ClearPoint Neuro Inc.
• St. Jude Medical Inc.

The global MRI Guided Neurosurgical Ablation market is segmented as follows:

By Product

• MRI Guided Laser Ablation Systems
• MRI Guided RF Ablation Systems
• MRI Guided Focused Ultrasound Systems
• Accessories

By End-Use

• Hospitals
• Clinics
• Ambulatory Surgical Centers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa