MRI Guided Neurosurgical Ablation Market Size By 2020 | Global Industry Share, Growth, Analysis, Company Profiles

MRI Guided Neurosurgical Ablation Market Analysis:
MRI guided neurosurgical ablation refers to the minimally invasive techniques, that are carried out using lasers for the purpose of destroying the tumor. MRI guided neurosurgical ablation is used for the betterment and treatment of multiple neurological diseases such as spinal tumors, brain tumors, and others. These tumors develop over time by multiplying or abnormally growing the cells in various parts of the spinal cord and brain. MRI guided neurosurgical ablation has become the most popular and widely used treatment procedure to cure a patient suffering from such cancerous tumors present in and around the brain or spinal cord. The procedure enables much faster recovery post-surgery as well as much less pain as compared to other procedures. Also, the chances of during or post-surgery complications are majorly reduced. Due to the benefits it provides added with ease of operating a patient, the usage and demand for MRI guided neurosurgical ablation has grown majorly.

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Growing demand for non-invasive treatments, rising cancer patients and increasing geriatric population are all driving the market growth
There has been a significant rise in the demand of non-invasive treatments for surgical purposes owing to growing adoption and awareness by healthcare sectors across the globe. The MRI guided neurosurgical ablation procedure offers various benefits such as high accuracy, minimal pain, reduced complications, and minimum scarring. Developing healthcare infrastructures have allowed the procedure knowledge and technology to maximize its reach across the globe and cater to a wider customer base. Further, the growing cases of cancer patients and the geriatric population worldwide have caused a wide strain on the healthcare sector to install better technologies with capabilities to carry out minimally invasive techniques. As per a report released in 2015 by the World Health Organization (WHO), the global geriatric population will reach 2.1 billion by the year 2050. As per January 2020 a report by American Cancer Society, approximately 23,890 adults and 3,540 children under the age of 15 will be diagnosed with CNS cancer in the U.S. Out of these figures over 18,020 adults approximately will die due to brain and spinal cord cancer in the U.S. These numbers have majorly been growing since the past years globally, causing a widespread adoption of MRI guided neurosurgical ablation procedures. Owing to all these factors the demand for MRI guided neurosurgical ablation will increase majorly and will drive the market growth.

High treatment costs and lack of skilled workforce to hamper the market growth
High investments related to procuring machinery and tools are a big challenge faced by underdeveloped regions. Further, the treatment costs using such technologies are on the higher-end making it the least feasible option for a large amount of population across the globe. Also, due to lack of availability of these equipment everywhere and in abundance, few or handful surgeons, practitioners, and doctors are aware of how to use them for treatment purposes.

Growing economic capabilities, technological upgradations and advancements, and favorable reimbursement schemes to create lucrative market opportunities
Growing investments inflow have helped various developing and underdeveloped countries across the globe to incorporate MRI guided neurosurgical ablation technologies and have strengthened the healthcare facilities. An increase in economic activities has allowed these regions to fund and invest more in healthcare infrastructure and technologies with a view to decrease the annual death rate. Technological advancements and upgradations during the forecast period will certainly reduce the treatment cost allowing to increase the consumer base. Also, they will be aimed to be much safer in terms of during or post-surgery complications and increase efficiency and effectiveness in the healing process. Also, various reimbursement schemes offered by government’’s will motivate people to get the treatment done using MRI guided neurosurgical ablation. The most prominent countries in such reimbursement schemes are U.S., U.K., Canada and region-wise Europe. All these factors will majorly contribute towards the development of MRI guided neurosurgical ablation market and create lucrative opportunities for growth.

MRI Guided Neurosurgical Ablation Market, by Product:

Accessories segment to be the most lucrative till 2027
Accessories segment will have a dominating share in the global market and they are expected to register a significant revenue during the forecast timeframe. Growing adoption, usage, and requirements for accessories owing to the rise in surgeries and cancer patients have facilitated the market growth. Accessories enable surgeons to scan, diagnose, prevent, and rehabilitate the CNS in a human body. Further, these accessories are highly preferred due to the benefits like higher precision, functionality, maneuverability. These advantages facilitate the patient’s safety during surgical procedures. These benefits collectively will create lucrative opportunities for the accessories segment to grow.

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MRI Guided Neurosurgical Ablation Market, by End-Use:
Hospital segment to register a significant growth
The hospital segment is anticipated to grow significantly in the MRI guided neurosurgical ablation market during the forecast period. Growing cases of cancer in central nervous system require immediate treatment for which hospitals are highly equipped. Growing investments in the healthcare sector have made all the technology available in these hospitals and developed healthcare infrastructure. Hospitals are more cost-effective and have highly trained staff comprising of neurosurgeons, senior consultants, and other qualified and experienced supporting staff which can perform surgeries more efficiently. All these factors motivate the general public to get treated in hospitals because of which the demand for MRI guided neurosurgical ablation comes mostly from it.

MRI Guided Neurosurgical Ablation Market, by Region:
North America region to hold the largest market share
North America region is expected to hold the largest market share in the MRI guided neurosurgical ablation market during the forecast timeframe. Factors such as technological advancements, robust healthcare infrastructure, growing prevalence of central nervous system cancer, and the presence of highly qualified and experienced neurosurgeons are driving the region’s growth. Increasing cases of targeted diseases like brain tumors, neurodegenerative diseases, and malignant tumors are propelling the market growth. Owing to these factors and increased awareness, the MRI guided neurosurgical ablation market is growing.

Asia-Pacific region to grow exponentially
Asia-Pacific region is anticipated to grow exponentially in the MRI guided neurosurgical ablation market during the forecast period. Growing investments in the healthcare sector, increasing awareness and adoption of minimally invasive techniques, growing numbers of skilled neurosurgeons, and a rise in income of the population are positively impacting the market. Further, growing brain and spinal cord cancer patients with increasing geriatric population are fueling the market growth.

Key Participants in the Global MRI Guided Neurosurgical Ablation Market:

Some of the significant MRI guided neurosurgical ablation market players include ClearPoint Neuro, Inc., INSIGHTEC Ltd., Monteris., AngioDynamics., Boston Scientific Corporation, and Medtronic.
MRI guided neurosurgical ablation market players are focusing more on advanced product development and merger & acquisition. These are the frequent strategies followed by established organizations. To emphasize more on the competitor analysis of market players, Porter’s five forces model is explained in the report.

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