According to BIS Research, MR imaging in neurosurgery involves the use of MRI systems, instruments, and accessories in the procedure of neurosurgery. In addition, it is responsible for developing images of the brain to help neurosurgeons gain better quality images while performing surgery.
MR imaging in neurosurgery market 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.
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.
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 Präzisionsdrehteile GmbH from Nürtingen.
• 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.
Global MR Imaging in Neurosurgery Market Segmentation
Demand – Drivers and Limitations
Following are the drivers for MR imaging market in neurosurgery:
• Increasing Prevalence of Neurological Disorders Requiring Surgical Intervention
• Rising Preference for Minimally Invasive Surgeries
• Growing Demand for Intraoperative Imaging
• Technological Advancements in the Field of Robotics and Medical Imaging
The market is expected to face some limitations too due to the following challenges:
• High Cost of Investment in Robotic-Assisted MRI in Neurosurgeries
• Limitations of MRI
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
• Fonar Corporation
• Fujifilm Holdings Corporation
• General Electric Company
• Hyperfine Inc.
• 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 Questions Answered
- What is the market forecast for MR imaging in neurosurgery?
- What are some key strategies adopted by market players?
- What is the procedure volume for MR imaging in neurosurgery in the world and its forecast?
- What is the impact of COVID-19 on the growth of MR imaging in neurosurgery market?
- What are the significant developmental strategies implemented by the major players to sustain the competitive market?
- Who are the global key players and their role in the MR imaging and robotic-assisted MR imaging in the neurosurgery market?
- What is the regulatory framework for MRI devices in different countries?
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The USP of the Report
· Impact of COVID-19 on MR imaging in the neurosurgery market
· Extensive product benchmarking of the top players (including established and emerging players) to offer a holistic view of the global MR imaging in neurosurgery market product landscape.
· Case studies to gain more realistic insights into the market
· Market share analysis based on product portfolio, recent developments, and regional spread of the key players
· Investment landscape, including patent analysis
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