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 has witnessed significant demand for MRI guided RF ablation system over the last few years due to mounting awareness of minimally invasive surgery.

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Market Segmentation

1) Insight by Product

This segment is divided into an innumerable subdivision. However, following are the major dominant ones:

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

Of all, the MRI guided RF ablation system has significant demand in the MRI guided neuro ablation devices market, globally. The usage of the system excludes the requirement of an incision, which is essential during the surgical procedure led to the fastest growth of the MRI guided focused ultrasound systems segment during the historical period, which is also predicted to continue during the forecast period.

2) Insight by End User

On the basis of end user, the market is segmented into:

• Hospitals
• Ambulatory Surgical Centres
• Others

Of all, the MRI guided neuro ablation devices market size for ASCs is expected to grow at the fastest rate during the forecast period, globally. In addition, of all end users, hospitals accounted for the largest share of the market, owing to the elevated inclination of the patient to visit hospitals for the management of brain cancer.

Industry Dynamics

1) Growth Drivers

Factors that have been acting as the driving factors for the growth of this industry are:

i. The mounting number of neurosurgeries
ii. Technological advancement
iii. Growing geriatric population
iv. The mounting occurrence of cancer
v. The mounting government funding and initiatives
vi. Escalating awareness of minimally invasive surgery

2) Challenges

The major challenges faced by the key players in this industry are:

i. Limited awareness among patient about the treatment brain tumor in developing countries
ii. High cost, and a limited workforce
iii. The dearth of skilled professionals

3) Industry Ecosystem

North America is the largest MRI guided neuro ablation devices market as the region geriatric population is increasing and favorable reimbursements policies. In addition, the mounting occurrence of cancer, escalating healthcare expenditure, changing lifestyle, and escalating awareness of minimally invasive surgery are also fueling 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.

Geographic Overview

• Asia Pacific — Japan, China, India, Australia, and Rest of Asia-Pacific
• North America — US, Canada, and Mexico
• Europe — UK, Germany, France, Italy, Spain, and Rest of Europe
• Rest of the World – Brazil, South Africa, Saudi Arabia, U.A.E., and Others

Asia-Pacific is observed to witness significant growth in the MRI guided neuro ablation devices market during the forecast period, as the region comprises of a large population and expanding the geriatric population.

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Competitive Insight

The Key players in global MRI guided neuro ablation devices industry are: Medtronic Plc, Insightec Ltd, Monteris Medical Inc, Boston Scientific Corporation, AngioDynamics Inc, and MRI Intervention Inc.

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