Global MR Imaging in Neurosurgery Market Extends at a Healthy CAGR of 5.52% by 2031

Introduction

According to Johns Hopkins University, intraoperative MR imaging in neurosurgery provides a real-time brain image during surgery, enabling neurosurgeons to spot tissue anomalies and remove them precisely and securely. MR imaging in neurosurgery is performed using MRI systems, MR imaging in neurosurgery surgery instruments, and other equipment. It is also responsible for creating images of the brain to aid neurosurgeons in deciding what to do during surgery.

Market Dynamics

The Increasing Prevalence of Neurological Disorders Requiring Surgical Intervention Drives the Global Market

The increasing prevalence of neurological illnesses requiring surgical intervention is one of the primary factors driving the expansion of global MR imaging in the neurosurgery industry. Neurological diseases and mental disorders have arisen as major global public health concerns and formidable obstacles for healthcare systems. Research published in the Journal of Neurosurgery in April 2018 says that 13.8 million of the 22.6 million cases that need neurosurgical consultation each year also need neurosurgery. Additionally, 80 percent of cases originate from low- and middle-income nations. This rise in patients requiring neurosurgery has increased demand for MR imaging in neurosurgery, hence driving market expansion.

Development of Cost-Effective Robotic-Assisted MRI Systems Creates Tremendous Opportunities

The development of reasonably priced MRI systems with robotic assistance has generally advanced. Manufacturers' surgical robots may be more dependable and effective. New motors for surgical robots are being created that use plastic and ceramic parts rather than metallic ones to prevent the robots from being harmed by devices that emit magnetic waves, such as magnetic resonance imaging (MRI) scanners. Additionally, they are affordable because of the materials used.

A Robohub article, "Developing Cost-Effective, Capable, Surgical Robots with a Sense of Touch," says that surgical robots are becoming more affordable. They can develop new medical applications more efficiently. Additionally, because they are not impacted by the waves emitted, the new materials utilized to create cost-effective robots, such as plastics and ceramics, make them more compatible with MR imaging in neurosurgical equipment.

Regional Analysis

North America is the highest contributor to the global MR imaging in neurosurgery market and is anticipated to grow at a CAGR of 5.46% during the forecast period. North America's highly developed healthcare system, major technological breakthroughs in medical imaging and robotics, and the rising demand for minimally invasive surgery are driving the market's expansion. For instance, the most significant number of robotic-assisted procedures are conducted in the United States. In addition, several companies offer intraoperative MRI in the United States, and several hospitals are implementing such systems. Numerous hospitals in the United States, including Barnes Jewish Hospital, C.S. Mott Children's Hospital, OHSU Doernbecher Children's Hospital, Abbott Northwestern Hospital, and St. Louis Children's Hospital, are equipped with intraoperative MRI machines in the neurosurgical operating room. However, the capital-intensive nature of the equipment and the high investment costs impede the adoption of such systems and, consequently, the market's growth.

Europe is expected to grow at a CAGR of 5.76% over the forecast period. The primary factors driving market expansion in this area are the technologically advanced environment, financing for research and development, and the increasing adoption of modern MRI scanners and robotic systems by hospitals in Europe. For instance, in December 2021, the first public hospital in Italy, Policlinico di Milano, adopted the Versius robotic system, thereby expanding the country's access to robotic-assisted surgical treatments. However, the high investment costs involved with the installation of MRI scanners and robotic systems are impeding the expansion of the market.

Key Highlights

• The global MR imaging in neurosurgery market was valued at USD 94.30 million in 2022. It is estimated to reach USD 152.94 million by 2031, growing at a CAGR of 5.52% during the forecast period (2023–2031).
• By types, the global MR imaging in neurosurgery market is divided into conventional MR imaging devices and robotic-assisted devices. The conventional MR imaging devices segment is the highest contributor to the market and is anticipated to grow at a CAGR of 5.43% over the forecast period.
• By products, the global MR imaging in the neurosurgery market is segmented into systems and instruments and accessories. The systems segment owns the highest market share and is expected to grow at a CAGR of 5.60% for the forecast period.
• By end-user, the global MR imaging in neurosurgery market is segmented into hospitals, ambulatory surgery centers, and others. The hospital segment is the highest contributor to the market and is anticipated to grow at a CAGR of 5.57% over the forecast period.
• North America is the highest contributor to the global MR imaging in neurosurgery market and is anticipated to grow at a CAGR of 5.46% during the forecast period.

Competitive Players

Competitive Players

The key players in the global MR imaging in neurosurgery market are AiM Medical Robotics, Aspect Imaging Ltd., Brainlab AG, Canon Inc., Deerfield Management, Esaote S.p.A, FAULHABER, Fonar Corporation, Fujifilm Holdings Corporation, General Electric Company, Hyperfine Inc., Insightec, Koninklijke Philips N.V., Medtronic plc, Monteris Medical Corporation, Profound Medical Corp., Promaxo Inc. (neuro42, Inc.), Siemens AG, and Synaptive Medical and Zimmer Biomet Holdings, Inc.

Recent Developments

Market News

• In December 2022, ClearPoint Neuro enrolled the first participant in a glioblastoma clinical trial of its laser therapy system at Skåne University Hospital in Lund, Sweden.
• In August 2022, AiM Medical Robotics announced the unveiling of a magnetic resonance imaging (MRI)-compatible prototype of its “industry-first” robotics platform, a company press release states, as well as the receipt of funding from the Sontag Foundation’s Sontag Innovation Fund.

Segmentation

Global MR Imaging in Neurosurgery Market: Segmentation

By Types

• Conventional MR Imaging Devices
• Robotic-Assisted Devices

By Products

• Systems
• Instruments and Accessories

By End-User

• Hospitals
• Ambulatory Surgery Centers
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Rest of the World (RoW)