MRI Guided Neurosurgical Ablation Market
MRI Guided Neurosurgical Ablation Market: MRI Guided Laser Therapy System Segment to Account for More Than 15.0% Value Share During the Forecast Period: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028
- 2018-09-21
- REP-GB-2514
- 225 pages
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An Incisive, In-depth Analysis on the Mri Guided Neurosurgical Ablation Market
This study offers a comprehensive, 360 degree analysis on the Mri Guided Neurosurgical Ablation market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Mri Guided Neurosurgical Ablation market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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The global MRI Guided Neurosurgical Ablation market is expected to be worth US$ 216.3 Mn in 2028, it is projected to increase at a CAGR of 4.9% through 2028. North America is large market, which accounted for US$ 62.5 Mn in 2017, and is expected to grow at a CAGR of 4.3%.
Key Insights
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Amongst Product Type, Accessories contributed maximum market share in the global MRI Guided Neurosurgical Ablation market due to due to rise in number of neurosurgery. MRI Guided Neurosurgery also is expected to gain huge traction in the market over the forecast period due to its increasing adoption
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By End User, Hospitals dominate market share in the MRI Guided Neurosurgical Ablation market due high preference of patient to visit hospitals for the treatment of brain cancer.
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North America followed by Western Europe holds the maximum revenue share in the global MRI Guided Neurosurgical Ablation. Companies operating MRI Guided Neurosurgical Ablation focusing expand their business in China and Japan.
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China and Japan is the faster growing region for MRI Guided Neurosurgical Ablation market due incidences of brain tumor and expansion strategy followed by key manufacturer in this countries
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The growing awareness regarding minimally invasive surgery is expected to fuel the demand for MRI Guided Neurosurgical Ablation in the global market. The demand is primarily emanating from countries such as the U.S. Germany, U.K., Japan and Australia. Enhanced outpatient facilities coupled with affordability are factors contributing to growing demand MRI Guided Neurosurgical Ablation market.
Factors and Trends Impacting the Growth of the Market
MRI-guided minimally invasive neurosurgery has experienced major momentum in the recent years, propelled by technologies such as MRI Interventions neurosurgical navigation platform and MRI-guided laser ablation platforms developed by Visualase and Monteris. The vast majority of these MRI guided platforms are used within standard diagnostic MRI suites. In a recent survey of neurosurgeons and neurologists, 80% of respondents expressed a belief that real-time MRI-guidance will or can become the future of functional neurosurgery. The utilization of these MRI-guided technologies is not limited to researchers and future applications. Today, clinicians are performing an increasing number of MRI-guided neurosurgical ablation procedures as part of their regular clinical practice. MRI-guidance is enabling a variety of minimally invasive procedures for a broad range of patients, which has enable the future the growth of this market. Additionally, The laser therapy system such as ClearPoint and Visualase by MRI Intervention and Medtronic; RF ablation therapy system such as RF3000 and Starbrust by Boston Scientific Corporation require at least small incision to perform the surgery. Hence, The launch of MRI-guided system has is a revolved the field of neurosurgery, which is expected to contribute to the growth of the MRI guided neurosurgical ablation market.
Market by Product Type
Accessories segment by product type is estimated to gain maximum revenue by product type for MRI guided neurosurgical ablation market. While, MRI Guided focused Ultrasound Systems is projected to grow with higher pace throughout the forecast period and it is projected to grow at CAGR of 5.8% throughout the forecast period of 2018-2028. MRI Guided Laser Therapy System segment by product is expected to represent value share of 14.3% in 2028, from 15.5% in 2018 for MRI guided neurosurgical ablation market. The launch of MRI guided ultrasound focused system in 2016 has enable the significant growth opportunity for MRI guided neurosurgical ablation market.
Regional Outlook
On the basis of region, the MRI Guided Neurosurgical Ablation market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, China, Japan and Middle East & Africa. North America is estimated to dominate the global MRI Guided Neurosurgical Ablation market with maximum value share of the overall market in 2017. The North America MRI Guided Neurosurgical Ablation market is estimated to increase at a CAGR of 4.3% over the forecast period to reach the value of US$ 98.9 Mn. Limited awareness among patient about the treatment brain tumor is responsible for the sluggish growth of Latin America and MEA region.
Key Players
Some of the top players operating in the global MRI Guided Neurosurgical Ablation market such Medtronic plc, Boston Scientific Corporation, Insightec Lmt, AngioDynamics Inc, Monteris Medical Inc, and MRI Intervention Inc. Innovation and partnership are two major strategy followed by manufacturer of MRI guided neurosurgical ablation. Leading manufacturer of MRI Guided Neurosurgical Ablation are focusing on collaboration to promote the use of MRI Guided Neurosurgical Ablation for the treatment of brain tumor. Some companies are focusing collaborate directly with hospitals to promote their MRI Guided Neurosurgical Ablation system. On other hand, few players of MRI Guided Neurosurgical Ablation market are emphasis on collaboration with distributors to expand their regional presence.
REPORT DESCRIPTION
This Future Market Insights (FMI) report examines the ‘Global MRI Guided Neurosurgical Ablation Market’ for the period 2018–2028. The primary objective of the report is to offer updates and information related to market opportunities in the global MRI Guided Neurosurgical Ablation market.
The MRI Guided Neurosurgical Ablation Market is segmented as Follows:
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MRI Guided Neurosurgical Ablation Market, by Product Type
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MRI Guided Neurosurgical Ablation Market, by End User
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MRI Guided Neurosurgical Ablation Market, by Region
This report covers the global MRI Guided Neurosurgical Ablation market performance in terms of revenue contribution from various segments. The report begins with an overview of the MRI Guided Neurosurgical Ablation and its definitions. The market viewpoints section underlines macro-economic factors influencing the growth of the MRI Guided Neurosurgical Ablation market along with detailing its opportunity analysis.
The global MRI Guided Neurosurgical Ablation market is segmented based on product type, end user, and region. On the basis of product type, the market has been segmented as MRI guided laser therapy systems, MRI guided RF ablation systems, MRI guided focused ultrasound system and accessories.
On the basis of end user, the market is segmented as hospitals, ambulatory surgical centers and research laboratories.
A detailed analysis has been provided for each region in terms of market size, Y-o-Y growth rate, absolute $ opportunity, and market attractive index. The regional market dynamics provide the key growth driver, restraints, and trends pertaining to each region. The forecast of the MRI Guided Neurosurgical Ablation market by country, product type, end user, are represented in the tabular form for each region. This section also helps to understand the opportunity of the MRI Guided Neurosurgical Ablation market in major countries by each segment. The volume analysis of MRI Guided Neurosurgical Ablation systems is also provided by region. The volume of MRI Guided Neurosurgical Ablation systems is triangulated with the average selling price.
In the next section of the report, the ‘Competitive Landscape’ is included to provide report audiences with a dashboard view and to access the key differentiators among the competitor firms. This section also provide wise structure analysis to understand the tier structure of c MRI Guided Neurosurgical Ablation market. Along with tier structure this section is also assessed market share analysis for top companies to cross validated the MRI Guided Neurosurgical Ablation market value. This analysis is done on granular level by analysing the revenue generated by each of the manufacturer from MRI Guided Neurosurgical Ablation. This section is primarily designed to provide clients with an objective and detailed comparative assessment of product offerings and strategies of key providers specific to the market segments. Detailed profiles of players in the MRI Guided Neurosurgical Ablation market are also provided in the report, which highlights company description, product/segment overview, SWOT analysis, financial information, key developments related to market and strategic overview.
The next section of the report highlights the MRI Guided Neurosurgical Ablation market outlook for 2018–2028 and sets the forecast within the context of the MRI Guided Neurosurgical Ablation market by region. The key regions assessed in this MRI Guided Neurosurgical Ablation market report include North America, Latin America, Europe, Asia Pacific excluding China and Japan, China, Japan and Middle East and Africa. A detailed analysis has been provided for each region in terms of market size, Y-o-Y growth rate, absolute $ opportunity, and market attractive index. This section helps to analyses the maturity level of all the region in global MRI Guided Neurosurgical Ablation market.
The above sections – by product type, end user; evaluate the historic market analysis for the period of 2013–2017 and growth prospects of the MRI Guided Neurosurgical Ablation market for the period 2018–2028. Along with historic analysis, market value forecast and Y-o-Y analysis by product type and end user for MRI Guided Neurosurgical Ablation market is also provided in this section. We have considered 2017 as the base year and provided data for the forecast period.
The final section of report represents the global scenario for the MRI Guided Neurosurgical Ablation market along with Y-o-Y growth and market forecast till 2028. This section also evaluates the global market opportunity over the forecast period and also the absolute dollar opportunity for each year. This section will help to understand the overall market growth of the MRI Guided Neurosurgical Ablation market and the opportunity analysis for each year over the forecast period. This section also provide with the volume analysis for global MRI Guided Neurosurgical Ablation market to analyse the global sale of MRI Guided Neurosurgical Ablation.
Research Methodology
Initially top down analysis is used to calculate the market size of global MRI Guided Neurosurgical Ablation market. Two different approach have been used to estimate the market size for MRI guided neurosurgical ablation system and accessories.
To estimate the market value of systems installed base approach have been used. The total number of MRI guided neurosurgical ablation system in installed in top 20 countries has analysed initially by secondary research. The lifespan of system and actual replacement rate is then taken into consideration to estimate the number of unit replace in base year. The new units of MRI guided neurosurgical system sold in 2017 is added with the number of unit replaced. Prices of various MRI Guided Neurosurgical Ablation systems available in the market are analysed to calculate the average selling price by weighted average methodology. The volume of MRI Guided Neurosurgical Ablation system is them multiplied with average selling price to obtain the market value of MRI Guided Neurosurgical Ablation in 2017 for top countries.
To estimate the market size of accessories, procedure base approach is used.
Firstly total number of MRI guided neurosurgery performed annually in top 20 countries is analysed by secondary research. The number of surgery performed by probes and electrode is also differentiated for top 20 countries. Number probes or electrode require to perform by MRI Guided Neurosurgical Ablation is confirmed by primary interviews with surgeon and nurses to analyse the volume of accessories. Prices of various MRI Guided Neurosurgical Ablation accessories available in the market are analysed to calculate the average selling price by weighted average methodology. The volume of MRI Guided Neurosurgical Ablation accessories is them multiplied with average selling price to obtain the market value of MRI Guided Neurosurgical Ablation accessories in 2017 for top countries.
Bottom-up approach is also used to validate the total market size obtained. The market size estimated with install base and procedure approach is cross validated with the company market share analysis. The forecast presented in the report provides total revenue of the MRI Guided Neurosurgical Ablation market over 2018–2028. While forecasting the market size, we have considered the impact of several factors such product approvals for MRI Guided Neurosurgical Ablation, R&D investment by major players, pipeline analysis, penetration of products in all end user facilities channel, generic penetration across all regions, etc. However, quantifying the market across the aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed. In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global market.
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