The global MRI-guided neurosurgical ablation market size is anticipated to reach USD 865.2 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.3% from 2020 to 2027. An increasing number of patients suffering from neurological diseases, including brain tumors, and rising awareness initiatives for brain disorders diagnosis and treatment are driving the market.
Rising
prevalence of brain cancer is one of the major factors driving the market.
There are over 120 types of brain and central nervous system cancers. According
to the National Institute of Health (NIH) data, it is estimated that in 2020,
23,890 people will be diagnosed with new cases of brain and other nervous system
cancer in the U.S. Therefore, increasing incidence of brain cancer has
increased the demand for MRI-guided neurosurgical ablation, thus boosting the
market growth.
Technological
advancements associated with the treatment are stimulating the demand in the
market. For instance, a Visualase MRI-guided laser ablation device developed by
Medtronic has the smallest laser catheter of 1.65 mm that monitors tissue
ablation in real-time. As a result, it helps patients recover faster with a
small incision. This is anticipated to boost the market growth over the
forecast period.
Furthermore,
several awareness campaigns, the introduction of new products, and
incorporation of new technologies by market players are likely to boost the
market growth during the forecast period. For instance, in July 2019, Insightec
has received FDA approval and CE mark for the Exablate Neuro- ultrasound
platform for the treatment of neurological disorders with no surgical
incisions.
Full Research Report On MRI-guided Neurosurgical Ablation Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/mri-guided-neurosurgical-ablation-market
MRI-guided
Neurosurgical Ablation Market Report Highlights
- On the basis
of product, the accessories segment dominated the overall market with a
share of 31.6% in 2019. Numerous benefits offered by the accessories
segment such as maneuverability, functionality, and precision to ensure
patient safety during neurosurgical procedures are contributing towards
the segment growth
- Based on
end-use, the hospital segment dominated the overall market with a share of
65.3% in 2019 owing to high patients’ preference to visit hospitals for
the treatment. Moreover, brain-related procedures are among the most
critical and complex surgeries that are reliant on high quality and
durable devices and equipment found in hospitals
- North America
dominated the market with a revenue share of 34.6% in 2019 owing to the
presence of well-established healthcare facilities, increasing incidences
of brain tumors, and the availability of the latest treatment procedures
in the region.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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