The emergency of COVID-19 has a notable effect on the global MRI guided neurosurgical ablation market. Accessories segment accounted for significant market size in the previous years and hospitals segment contributed majority of the revenue share in 2019. Also, North America region has dominated the global market share in the previous years. The key market players are continuously increasing their efforts to improve the product performance to gain major position in the global market.
This outbreak of COVID-19 has considerable impact on the global MRI guided neurosurgical ablation market growth in 2020. According to World Health Organization (WHO) has officially announced, the novel coronavirus does not seem to affect the spinal cord, peripheral nerves and brain. However, the pandemic created shortage of essential life saving devices such as medical devices & accessories as well as many other important medical supplies. These factors are eventually affecting the MRI guided neurosurgical ablation market growth in 2020.
Furthermore, prominent market players are adopting several strategies such as joint ventures and acquisitions to strengthen their presence in the overall industry. For instance, in February 2020, Medtronic, global leader in medical technology, has announced the acquisition of Digital Surgery, which is the leading organization in surgical AI, and digital training and education. This acquisition has made to reinforce the Medtronic robotic assisted surgery platform and has beneficial for the Medtronic portfolio. Surgical AI and digital surgeries platforms are playing a crucial role in advancing minimally invasive surgery treatment methods.
During this unexpected situation, we are providing our clients in understanding the impact of COVID19 on the MRI guided neurosurgical ablation market.
As per new study conducted by Research Dive, the global MRI guided neurosurgical ablation market is projected to reach up to $5.6 million by 2027 and is estimated to witness a noticeable growth in the forecast period 2019 to 2027.
The global market is segmented into product, end use and region. This study delivers comprehensive information of drivers, opportunities, restraints, segmental analysis and major participants in the global market.
Factors affecting the market growth
As per our analysts, increasing demand for non-invasive treatment methods along with growing number of cancer patients across the globe are significantly driving the MRI guided neurosurgical ablation market growth. However, dearth of work forces for neurosurgical treatments and high treatment costs are expected to restrict the market growth.
Accessories product and hospitals end use segments are expected to have dominating market share in the forecast years
Based on product, the global market has been segmented into MRI-guided focused ultrasound systems, radio frequency ablation systems, accessories and laser ablation systems. Among these, accessories product type accounted for highest MRI guided neurosurgical ablation market size in 2019 and is predicted to continue its trend in the coming years. Operating rooms requires specific medical accessories to perform surgeries and without the right accessories, the surgeons may struggle to deliver the better quality care and customer service. These factors are fueling the demand for accessories and is expected to drive the market growth in the projected time.
The global market has been categorized on the basis of end use into ambulatory surgical centers, clinics and hospitals. Among these, hospitals segment accounted for dominating market share in 2019 and is estimated to continue its growth at a notable rate throughout the projected timeframe. Hospitals contains special division for neurosurgical department, experienced neurosurgeons and well equipped neuro surgical equipment’s. Thus, most of the people are preferring hospitals for positive results even in complicated treatments. These factors are driving the market growth in the forecast years.
MRI Guided Neurosurgical Ablation Market, Regional outlook
The global MRI guided neurosurgical ablation market size has dominated by North America region in 2019 and is predicted to retain its growth in the global market throughout the forecast years. Existence of well-established healthcare facilities and presence of highly experienced neurosurgeons in the North America region, this actor is expected to drive the market growth in the forecast time. Along with North America, Europe region accounted for second highest market share in the previous years and is estimated to grow at a faster rate during the projected period. This expected growth attributed to growing adoption of invasive treatment methods due to rise prevalence of neurosurgical disorders in the Europe region.
MRI Guided Neurosurgical Ablation Market, Key market players
The significant players in the global MRI guided neurosurgical ablation market are ClearPoint Neuro, Inc., Monteris, Boston Scientific Corporation, MRI Interventions, Inc., INSIGHTEC Ltd, AngioDynamics and Medtronic among others.
Mr. Abhishek Paliwal
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
Free : +1 -888-961-4454
Email: [email protected]
Follow us on: https://covid-19-market-insights.blogspot.com