Global MRI Guided Neuro Ablation Devices Market to Witness 5.3% CAGR During 2018 – 2024, Attaining the Market Size of USD 175.6 million by 2024

Sep, 2018

The global MRI guided neuro ablation devices market is predicted to grow at 5.3% CAGR during the forecast period with the market size reaching USD 175.6 million by 2024. The market is driven by the factors such as a mounting number of cancer cases, technological advancement, and escalating healthcare expenditure. For instance, according to GLOBOCAN, in 2018 approximately 296,851 people are suffering from brain and nervous system cancer, and are expected to reach 309,040 by 2020 and 435,554 by 2040. Expanding geriatric population, escalating number of neurosurgeries and mounting government initiatives and funding are further fuelling the growth of the market.

Market Report "Global MRI Guided Neuro Ablation Devices Market – Analysis and Forecast (2018-2024)

The market for MRI guided neuro ablation devices is primarily driven by increasing number of cancer cases. With the expanding geriatric population, exposure to harmful radiation, eating unhealthy food, and changing lifestyle people are more prone to tumor and cancer. Moreover, people are becoming more aware and increased government initiative to diagnose and treatment at the early stage. This offers market players immense opportunities, which will drive their revenue growth. For instance, according to GLOBOCAN globally, approximately 14.1 million new cancer cases were diagnosed and there were 8.2 million cancer deaths in 2012.

The different products of, the MRI guided neuro ablation devices market are MRI guided RF ablation system, MRI guided focused ultrasound systems, MRI guided laser therapy system, and accessories. Of all these products, the MRI guided focused ultrasound systems category is predicted to witness the highest CAGR of xx% during the forecast period owing to the usage of the system excludes the requirement of an incision, which is essential. In addition, of all these products, the MRI guided RF ablation system category has significant demand in the market due to mounting awareness of minimally invasive surgery.

Browse market insight and in-depth TOC on "Global MRI Guided Neuro Ablation Devices Market – Analysis and Forecast (2018-2024)"

The increasing adoption of MRI guided neuro ablation devices is also facilitating the growth of the market as MRI guided neuro ablation is a minimally invasive neurosurgical technique used for several diseases. It is mainly performed for the thalamus, insula, and basal ganglia of the brain. These devices use MRI guided high-intensity laser probe for the ablation of brain cancer cells.

Based on end user the MRI guided neuro ablation devices market is segmented into hospitals, ambulatory surgical centers (ASCs) and others. Of all the end users, ambulatory surgical centers are expected to grow at the fastest rate during the forecast period, globally. Mounting awareness of minimally invasive procedure and expanding geriatric population are some of the factors facilitating the growth of the ambulatory surgical center's segment in the MRI guided neuro ablation devices market. Moreover, of all the end users, hospitals accounted the largest share in the market due to the elevated inclination of the patient to visit hospitals for the management of brain cancer.

North America accounted for the major share in the MRI guided neuro ablation devices industry in 2017, globally as the in the region awareness of minimally invasive surgery is increasing. In addition, expanding geriatric population, changing lifestyle, favorable reimbursement policies, the mounting occurrence of cancer, and escalating healthcare expenditure are some of the factors facilitating the growth of the North American MRI guided neuro ablation devices market. For instance, according to GLOBOCAN in the U.S., approximately 1.6 million new cancer cases were diagnosed and there were 0.6 million cancer deaths in 2012.

Moreover, Asia-Pacific is observed to witness the fastest growth in the MRI guided neuro ablation devices market, owing to expanding the geriatric population. Refining healthcare infrastructure, large population, mounting awareness of minimally invasive surgery, the mounting occurrence of cancer and intensifying healthcare expenditure are some of the factors fuelling the growth of the Asia-Pacific MRI guided neuro ablation devices market.

Key players in the MRI guided neuro ablation devices industry are investing in the development of advanced, which is strengthening their position in the market, Medtronic Plc, Insightec Ltd, Monteris Medical Inc, Boston Scientific Corporation, AngioDynamics Inc, and MRI Intervention Inc. are some of the key players offering MRI guided neuro ablation devices.

Global MRI Guided Neuro Ablation Devices Market Coverage

 Product Insight and Forecast 2014-2024

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

End User Insight and Forecast 2014-2024

  • Hospitals
  • Ambulatory Surgical Centres
  • Others

Geographical Segmentation

MRI Guided Neuro Ablation Devices Market by Region

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific

Rest of the World

  • Brazil
  • South Africa
  • Saudi Arabia
  • U.A.E
  • Other countries
Global MRI Guided Neuro Ablation Devices Market to Witness 5.3% CAGR During 2018 – 2024, Attaining the Market Size of USD 175.6 million by 2024