Intraoperative Magnetic Resonance Imaging Market
Intraoperative magnetic resonance imaging is an instrument gives the real-time image of a brain which helps to identify abnormal tissues and removal of the brain tumours effectively and safely. Intraoperative Magnetic Resonance Imaging Market lowers the risk of damaging critical parts of the brain and help to identify whether the surgery was successful or additional resection is required before completing the surgery. Various intraoperative MRI equipment is available with different magnetic field strengths such as 0.2 T, 1.5 T, and 3.0 T.
Rise in global geriatric population, technological advancements of the equipment such as higher magnetic field strength, increase in the prevalence of chronic diseases, and rise in preference for the minimally invasive surgeries are anticipated to fuel the intraoperative magnetic resonance imaging market. Moreover, the rise in the adoption of novel technologies in developed regions and growth in healthcare expenditure for the quality diseases management expected to propel the intraoperative magnetic resonance imaging market. However, a high cost of the devices, product recall, and lack of skilled professionals for operating devices might hamper the growth of the market over the forecast timeframe.
Intraoperative magnetic resonance imaging market is segmented on the basis of magnetic field strength, application, and end user
Based on the magnetic field strength, this market is segmented into the following:
- 0.2 Tesla
- 1.5 Tesla
- 3.0 Tesla
Based on the application, this market is segmented into the following:
- Spinal surgery
- Orthopaedic surgery
Based on the end user, this market is segmented into the following:
- Ambulatory surgical centres
Intraoperative magnetic resonance imaging is growing at a significant CAGR owing to increase in the prevalence of neurological disorders and paediatric epilepsy incidences. Competitors are majorly focusing on the manufacturing of intraoperative MRI devices with novel technologies such as superior magnetic field strength for better imaging. Acquisitions and mergers, collaborations, patent approvals, and product launchings are key strategies followed by the companies for increasing their revenue in the intraoperative imaging market. For instance, in July 2014, Medtronic, Inc. acquired Visualise, Inc. for strengthening its neurological solutions portfolio including intra-operative imaging. Moreover, in April 2012, Philips Healthcare collaborated with Brainlab AG for the development of comprehensive intraoperative MRI solution for streamlining the neurosurgery procedures.
Geographically, intraoperative magnetic resonance imaging market is segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. North America has a significant share in intraoperative imaging market owing to increase in the prevalence of neurological disorders due to change in lifestyle, well-developed healthcare infrastructure, and availability of skilled professionals are propelling the intraoperative MRI market in the region. In Europe, high adoption of technological advanced MRIs by healthcare professionals, the collaboration between the companies for development of newer technologies are anticipated to fuel the Europe intraoperative magnetic resonance imaging market. However, Asia Pacific has a lucrative growth attributed to increase in the medical tourism, approvals for novel technologies in Asia Pacific countries such as Japan and Australia, an increase in the healthcare expenditure are projected to boost the intraoperative magnetic resonance imaging market over the forecast period.
Some of the players in intraoperative magnetic resonance imaging (MRI) market are Siemens AG (Germany), Medtronic, Inc. (Ireland), GE Healthcare (U.S.), Philips Healthcare (Koninklijke Philips N.V.) (Netherlands), IMRIS Deerfield Imaging (U.S.), Brainlab AG (Germany), and Hitachi Ltd. (Japan) to name a few.
- In October 2016, IMRIS, Deerfield Imaging received Japanese certification for the marketing and sales of intraoperative MRI systems with 1.5T and 3T
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