DUBLIN–(BUSINESS WIRE)–The “MR Imaging in Neurosurgery Market – A Global and Regional Analysis: Focus on Types, Products, End User, and Region – Analysis and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.
The market size of MR imaging in neurosurgery was valued at $88.7 million in 2021 and is anticipated to reach $150.5 million by the end of 2031, registering a CAGR of 5.52% during the forecast period 2022-2031.
The market is driven by factors such as the increasing prevalence of neurological disorders requiring surgical intervention, rising preference for minimally invasive surgeries, growing demand for intraoperative imaging, and technological advancements in the field of robotics and medical imaging.
MR imaging market in neurosurgery is still in the development phase. Increased research and development activities are underway to develop more products.
The opportunity for growth of MR imaging market in neurosurgery lies in the development of cost-effective robotic-assisted MRI systems and the development of MRI-compatible robotic systems.
Growth/Marketing Strategy
The global MR imaging market in neurosurgery has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture.
The favored strategy for the companies has been regulatory and legal activities, partnerships, alliances, and business expansions to strengthen their position in the market. For instance, in June 2022, Hyperfine Inc. received FDA Clearance for its two new imaging sequences, and in November 2021, Medtronic plc partnered with Rune Labs to improve its understanding of neurostimulation with brain data.
Competitive Strategy
Key players in the global MR imaging market in neurosurgery analyzed and profiled in the study involve established and emerging players that offer different products for MR imaging in neurosurgery.
Moreover, a detailed competitive benchmarking of the players operating in the global MR imaging market in neurosurgery has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Impact of COVID-19
The COVID-19 pandemic led to the deferral of MRI performance in the imaging industry. The impact of COVID-19 on imaging facilities is ambiguous, as some imaging techniques such as X-Ray and CT were actively used, whereas MRI and ultrasound were of limited use during the pandemic.
Before the COVID-19 pandemic, MR imaging in neurosurgery was majorly undertaken in hospitals and clinical facilities. Owing to factors such as travel restrictions and the risk of transmission of the virus, there was a decrease in MR imaging in neurosurgery.
As the recovery phase of the COVID-19 pandemic begins, MR imaging in neurosurgery procedures is expected to normalize.
Market Segmentation
- The global MR imaging market in neurosurgery (by type) is expected to be dominated by the conventional MR imaging devices segment.
- The global MR imaging market in neurosurgery (by product) in the product segment is expected to be dominated by the systems segment.
- The global MR imaging market in neurosurgery (by end user) is dominated by the hospital segment.
Recent Developments in Global MR Imaging Market in Neurosurgery
- In June 2022, Hyperfine Inc. announced its expansion into Australia and New Zealand with Medical Device Registration and notification.
- In June 2022, Hyperfine Inc. received FDA Clearance for its two new imaging sequences.
- In May 2022, Koninklijke Philips N.V. received FDA 510(k) clearance for its latest breakthrough high-performance MR 7700 system.
- In April 2022, FAULHABER integrated with a new subsidiary, named, PDT Prazisionsdrehteile GmbH from Nurtingen.
- In March 2022, AiM Medical Robotics raised $3.4 million in seed financing to advance neurosurgery with MRI-compatible robotics.
- In February 2022, Esaote S.p.A received FDA approval of the Magnifico Open MRI system.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent established names in this 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
- Synaptive Medical
- Zimmer Biomet Holdings, Inc.
Key Topics Covered:
1 Markets
1.1 Global Market Outlook
1.1.1 Product Definition
1.1.2 Inclusion and Exclusion Criteria
1.1.3 Key Findings
1.1.4 Global Market Scenario
1.1.4.1 Realistic Scenario
1.1.4.2 Optimistic Scenario
1.1.4.3 Pessimistic Scenario
1.2 Industry Outlook
1.2.1 Key Trends
1.2.1.1 Development of Portable MRIs
1.2.1.2 High Number of Regulatory Approvals and Partnerships
1.2.1.3 Increasing R&D in the Field of Robotic-Assisted Imaging Systems
1.2.1.4 Development of Patient-Centric MRI Systems (Open MRI and Noiseless Systems)
1.2.1.5 Advancements in Data Acquisition Capabilities of MRI in Neurosurgery
1.2.2 Opportunity Assessment
1.2.3 Patent Analysis
1.2.3.1 Awaited Technological Developments
1.2.3.2 Patent Filing Trend (by Country)
1.2.3.3 Patent Filing Trend (by Year)
1.2.4 Product Benchmarking
1.2.5 Product Pipeline Analysis
1.2.6 MR Imaging Procedure Volume
1.2.7 Case Studies
1.2.7.1 Feasibility and Efficacy of iMRI in Tubular Retractor-Guided Resections of Intrinsic Brain Tumors
1.2.7.2 A New Generation of Commercial Brain Surgery Robot Clinical Application Research
1.3 Impact of COVID-19 on Global MR Imaging in Neurosurgery Market
1.3.1 Impact on MRI Services in the Imaging Industry
1.3.2 Impact on Market Size
1.3.2.1 Pre-COVID-19 Phase
1.3.2.2 During-COVID-19 Phase
1.3.2.3 Post-COVID-19 Phase
1.3.3 Market Entry Barriers and Opportunities
1.4 Business Dynamics
1.4.1 Impact Analysis
1.4.2 Business Drivers
1.4.2.1 Increasing Prevalence of Neurological Disorders Requiring Surgical Intervention
1.4.2.2 Rising Preference for Minimally Invasive Surgeries
1.4.2.3 Growing Demand for Intraoperative Imaging
1.4.2.4 Technological Advancements in the Field of Robotics and Medical Imaging
1.4.3 Business Restraints
1.4.3.1 High Cost of Investment in Robotic-Assisted MRI in Neurosurgeries
1.4.3.2 Limitations of MRI
1.4.4 Business Opportunities
1.4.4.1 Development of Cost-Effective Robotic-Assisted MRI Systems
1.4.4.2 Development of MRI-Compatible Robotic Systems
2 Global MR Imaging in Neurosurgery Market (by Type)
2.1 Opportunity Assessment
2.2 Growth-Share Matrix
2.3 Conventional MR Imaging Devices
2.4 Robotic-Assisted MR Imaging Devices
3 Global MR Imaging in Neurosurgery Market (by Product)
3.1 Opportunity Assessment
3.2 Growth-Share Matrix
3.3 Systems
3.4 Instruments and Accessories
4 Global MR Imaging in Neurosurgery Market (by End User)
4.1 Opportunity Assessment
4.2 Growth-Share Matrix
4.3 Hospitals
4.4 Ambulatory Surgery Centers and Others
5 Region
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