15-Jan-2020: The global MRI-guided
neurosurgical ablation market size is expected to reach
USD 5.6 billion by 2026, according to a new report by Grand View Research,
Inc., exhibiting a CAGR of 4.5% over the forecast period. Increasing incidence
of brain tumors & other nervous system disorders and increasing adoption of
minimally invasive neurosurgeries are some of the factors anticipated to boost
growth.
Increasing number
of patients suffering from brain tumor is one of the factors expected to drive
growth. Brain tumors can also spread to other sites in the brain (secondary or
metastatic). Each type of cancer has its own treatment, biology, and prognosis.
Similarly, brain cancer also has certain risk factors, which occurs due to
abnormal growth of cells. According to the National Institutes of Health (NIH),
in 2016, 1,65,813 people were living with brain cancer in the U.S. and in 2019,
it is estimated that 17,760 people are expected to die due to brain cancer.
Technological
advancements are also expected to aid market growth. For instance, Medtronic
developed a Visualase MRI-guided laser ablation device that monitors tissue
ablation in real time. It has the smallest laser catheter with a diameter of
1.65 mm, which results in a smaller incision, helping patients recover faster.
It uses laser technology to destroy unwanted soft tissues. Hence, rising number
of minimally invasive procedures is expected to aid growth.
In
depth research report on MRI-guided Neurosurgical Ablation Market
Further key findings from the study suggest:
·
Accessories segment dominated the market in 2018. This can be
attributed to increasing number of patients suffering from brain tumors,
followed by benign tumors.
·
Hospitals segment dominated the market in 2018 with highest
share owing to high prevalence of malignant tumors in central nervous system
and increase in geriatric population.
·
North America dominated the mri-guided neurosurgical ablation
market with highest revenue share in 2018 owing to increase in awareness about
minimally invasive neurosurgeries and availability of skilled neurosurgeons.
·
Some of the key players are launching technologically
advanced products and signing partnership agreements to gain competitive
advantage in the industry. For instance, in January 2018, INSIGHTEC signed an
agreement with VirginiaTech Carilion Research Institute (VTCRI) for developing
MRI-guided noninvasive treatments.
Grand View Research
has segmented the MRI-guided neurosurgical ablation market on the basis of
product, end use, and region:
MRI-guided Neurosurgical Ablation Product Outlook (Revenue,
USD Million, 2015 - 2026)
·
MRI-guided Radiofrequency Ablation Systems
·
MRI-guided laser Ablation Systems
·
MRI-guided Focused Ultrasound Systems
·
Accessories
MRI-guided Neurosurgical Ablation End-use Outlook (Revenue,
USD Million, 2015 - 2026)
·
Hospitals
·
Clinics
·
Ambulatory Surgical Centers
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About
Grand View Research
Grand View Research, Inc. is the
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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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