Neurosurgical Ablation Market (2020-2028) Global Insights on Strategic Initiatives, Growth Opportunities, Key Drivers, COVID-19 Impact Analysis, and Future Prospect: Adroit Market Research
Geographically, North America dominated the global neurosurgical ablation market in 2020, however, Asia Pacific is expected to be the fastest growing region by 2028
Dallas, Texas, Oct. 21, 2020 (GLOBE NEWSWIRE) -- The “Global Neurosurgical Ablation Market Size 2020, By Product Type (MRI Guided RF Ablation Systems, MRI Guided Focused Ultrasound Systems, MRI Guided Laser Ablation Systems and Accessories), End-Users (Hospitals, Ambulatory Surgical Centers, and Clinics) Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America), Global Forecast, 2020 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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Adroit Market Research report on global neurosurgical ablation market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities and challenges. The market has been studied for historic years 2018, with the base year of estimation as 2019 and forecast from 2020 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global neurosurgical ablation market have been studied in detail.
The global neurosurgical ablation market was valued at USD 514.6 million in 2019. The demand for neurosurgical ablation has been increased by growing adoption of minimally invasive surgery. The demand for neurosurgical treatment originates from countries such as Germany, the United States, the United Kingdom, and Australia as individuals in these countries have the opportunity to afford this treatment along with the technical advancement in ablation instruments are the factors that are propelling the growth of the global neurosurgical ablation market.
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In recent years, countries such as the United States and Canada have seen increasing cases of brain-related disorders and an increasing number of operations. The demand is motivated largely by rise in the prevalence of brain cancer. According to the National Brain Tumor Society, in the United States, about 700,000 individuals survive with brain tumours. This involves 69.8% of benign tumours and 30.2% of tumours that are malignant. It is predicted that about 87,240 individuals will be diagnosed with a primary brain tumour in 2020. Similarly, nearly 55,000 individuals in Canada are living with brain tumour, as per the Brain Tumor Foundation of Canada. It is also estimated that about 3,000 Canadians will be diagnosed with brain and spinal cord cancer by 2020. Increasing prevalence of brain cancer is therefore expected to fuel the growth of neurosurgical ablation devices market.
The global neurosurgical ablation market has been segmented based on product type, end-users and region. Based on product type, the neurosurgical ablation market is segmented into MRI-guided RF ablation systems, MRI-guided laser ablation systems, MRI-guided focused ultrasound systems, and accessories wherein the accessories segment dominated the market. Accessories are majorly used neurosurgery.
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For instance, for performing surgeries, there are various accessories used, such as curettes used for delicate and precise neurosurgeries, rongeurs used in neurosurgery to open a window in the skull bone, and dissectors that enable a minimally invasive discectomy to be performed by neurosurgeons. On the basis of end-users, the neurosurgical ablation market is segmented into hospitals, clinics, and ambulatory surgical centers. The hospital segment dominated the market as in hospitals, the neurosurgery department is well equipped with technologically advanced products.
Maximum numbers of neurosurgeries are conducted in hospitals since they offer the best possible care and require professional neurosurgeons conducting complex neurosurgical procedures, such as MRI-guided laser ablation brain surgery, which utilises laser technology to treat epilepsy and extract a brain tumour.
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North America dominated the global neurosurgical ablation market in 2020. Rapid adoption of technologies in healthcare and high awareness related to early brain disease diagnosis and treatment is attributed to the dominance of the region. Furthermore, People are increasingly concerned about health care in the country, and increase in investments on healthcare and well-established health infrastructure in the country fuels growth. Asia Pacific is expected to be the fastest growing regional market for neurosurgical ablation owing to factors such as the existence of a large patient base, growing medical tourism, rising healthcare spending by the government, and acceptance of minimally invasive surgeries.
Key players operating in the global neurosurgical ablation market include Medtronic plc, INSIGHTEC Ltd., Monteris Medical, Inc., MRI Interventions, Inc., Boston Scientific Corporation, and Angio Dynamics Inc. among others.
*Major Points from Table of Contents:*
1. Introduction
2. Research Methodology
3. Market Outlook
4. Neurosurgical Ablation Market by Product Type, 2019-2028 (USD Million)
5. Neurosurgical Ablation Market by End-Users, 2019-2028 (USD Million)
6. Neurosurgical Ablation Market by Region 2019-2028 (USD Million)
7. Competitive Landscape
8. Company Profiles
9. Appendix
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