MRI-Guided Neurosurgical Ablation Market by Product Type (MRI Guided RF Ablation Systems, MRI Guided Laser Ablation Systems, MRI Guided Focused Ultrasound Systems, and Accessories) and Application (Hospitals, Clinics, and Ambulatory Surgical Centers): Global Market Size Estimates and Forecast (2022-2030)

The market crossed the US$ 613.69 million mark in 2022 and is expected to hit US$ 1,083.13 million by 2030, recording a CAGR of 7.4% during the forecast period.

The MRI-guided neurosurgical ablation market has been significantly growing with the rising of neurodegenerative diseases across the world.

Within the report, the market is segmented into product type, application, and geography. By product type, the market is segmented into MRI-guided RF ablation systems, MRI-guided laser ablation systems, MRI-guided focused ultrasound systems, and accessories.  The accessories segment held the largest market share in the year 2022 and will grow at the highest CAGR% during the forecasted year. Some of the accessories used in the process are rongeurs, curettes, and dissectors. The rongeurs are used to open skull bones in neurosurgery whereas, curettes are used for precise and delicate neurosurgeries. Accessories help the neurosurgeon to perform surgeries with accuracy. Thus the segment is expected to fuel the growth of the market.

On the basis of application, the market is segmented into hospitals, clinics, and ambulatory surgical centers. Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Increasing Adoption of Minimally Invasive Neuro Surgeries in Accelerating the Growth of the Market

Minimally invasive neuro surgeries gain importance these days. These surgeries required less recovery time and operate at less cost compared to the traditional method. In this type of surgery, the surgeon uses different tools for performing the procedure. The procedure offers various advantages like minimizing incisions, smaller instruments, high accuracy rate. High preference from the patients’ end is considered the major driving factor promoting the growth of the market. 

Technological Advancement is the Major Factor in Accelerating Market Growth In Future

Due to recent technological breakthroughs like the MRI-guided laser ablation platform developed by Monteris and Visualase and the MRI intervention 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. According to a recent study of neurologists and neurosurgeons, 80% of those surveyed thought that functional neurosurgery would soon be performed under real-time MRI supervision. Additionally, MRI-guided technologies are not just for researchers and for off applications. The current prevalence of MRI-guided neurosurgery procedures, which involve a higher number of patients, will accelerate the market growth over the next few years.

Recent Strategic Developments in the MRI-Guided Neurosurgical Ablation Market.

The MRI-guided neurosurgical ablation market has undergone several significant developments, and a few of these have been mentioned below:

• In August  2022, FDA approves Abbott's new spinal cord stimulation device; which provides tailored relief to multiple pain areas and adds more treatment options for evolving pain conditions.
• In February 2022, the U.S. Food and Drug Administration (FDA) approved Medtronic plc for InterStim X, which delivers sacral neuromodulation therapy. This will provide consumers with more freedom and less maintenance as the device comes with a 10-year battery life
• In March 2022, Medtronic plc collaborated with Vizient to deliver an AI-powered Touch Surgery Enterprise. This technology will ease and simplify the process of analyzing, recording, and sharing surgical videos, resulting in an enhancement in the surgeon’s performance
• In March 2022, Medtronic plc, a global leader in healthcare technology, entered into a strategic partnership with BioIntelliSense. BioIntelliSense a continuous health monitoring and clinical intelligence company.
• In March 2022, Medtronic plc, a global leader in healthcare technology, completed the acquisition of Affera, Inc. This acquisition expands the company's cardiac ablation portfolio to include its first-ever cardiac mapping and navigation platform that encompasses a differentiated, fully integrated diagnostic, focal pulsed field, and radiofrequency ablation solution.
• In Feb 2022, Medtronic plc, a global leader in healthcare technology, received approval from the U.S. Food and Drug Administration (FDA) for InterStim X ― the next generation of the InterStim portfolio's recharge-free device – and it is available immediately.
• In Jan 2022, Medtronic plc, a global leader in healthcare technology, received U.S. Food and Drug Administration approval of its Intellis rechargeable neurostimulator and Vanta recharge-free neurostimulator for the treatment of chronic pain associated with diabetic peripheral neuropathy
• In November 2021, Insightec announces FDA approval of exablate neuro for the treatment of Parkinson’s Disease

The MRI-guided neurosurgical ablation market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Saint-Gobain; Medtronic; INSIGHTEC; Boston Scientific Corporation; Monteris Medical, Inc; MRI Interventions, Inc. are among the prominent players operating in the market.

The target audience for the report:

• Raw material providers
• Distributors and Retailers
• Government bodies, such as regulating authorities and policymakers
• Venture capitalists, private equity firms, and start-up companies
• General Hospitals, Specialty hospitals, and Clinics
• Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

• Material Type:

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

• Application

• Hospitals
• Clinics
• Ambulatory Surgical Centers

• Region:

• North America
• Europe
• Asia Pacific
• South & Central America
• Middle East & Africa

• Companies profiled:

• Medtronic
• INSIGHTEC
• Boston Scientific Corporation
• Monteris Medical, Inc
• MRI Interventions, Inc.
• Others

The List of Companies:
- Medtronic
- INSIGHTEC
- Boston Scientific Corporation
- Monteris Medical, Inc
- MRI Interventions, Inc.
- Others