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Market Overview

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The market for MR imaging in neurosurgery had a value of $88.7 million in 2021 and is projected to reach $150.5 million by the end of 2031, with a compound annual growth rate (CAGR) of 5.52% during the forecast period of 2022-2031. This growth is driven by various factors, including the increasing prevalence of neurological disorders that require surgical intervention, the growing preference for minimally invasive surgeries, the rising demand for intraoperative imaging, and advancements in robotics and medical imaging technology.

MR imaging has been utilized in neurosurgical procedures for a considerable period of time. It enables surgeons to precisely plan and execute both simple and complex neurosurgeries. Robotic-assisted MR imaging has further enhanced the precision, accuracy, and speed of neurological procedures. These robotic systems enable surgeons to perform neurosurgeries more efficiently and with greater precision. Industry players in the global MR imaging market for neurosurgery are focusing on developing systems and solutions that offer precise, accurate, and efficient treatment methods. Such advanced solutions can target tumor cells and eliminate them while minimizing damage to healthy tissues.

The MR imaging market in neurosurgery is still in its developmental phase, with ongoing research and development activities aimed at creating more innovative products.

To foster the growth of the MR imaging market in neurosurgery, there is a need to develop cost-effective robotic-assisted MRI systems and MRI-compatible robotic systems.

The COVID-19 pandemic has resulted in the postponement of MRI procedures in the imaging industry. Its impact on imaging facilities has been mixed, as certain techniques like X-Ray and CT scans remained actively utilized, while MRI and ultrasound were less frequently employed during the pandemic. Prior to the pandemic, MR imaging in neurosurgery was primarily conducted in hospitals and clinical facilities. However, due to travel restrictions and transmission risks, the utilization of MR imaging in neurosurgery decreased.

As the recovery phase of the COVID-19 pandemic commences, it is expected that MR imaging in neurosurgery procedures will gradually return to normal levels.

Key drivers for the MR imaging market in neurosurgery include the increasing prevalence of neurological disorders requiring surgical intervention, the growing preference for minimally invasive surgeries, the rising demand for intraoperative imaging, and advancements in robotics and medical imaging technology.

However, the market is also anticipated to face certain limitations and challenges, including the high cost of investment in robotic-assisted MRI for neurosurgeries and the limitations inherent in MRI technology itself.

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Market Segmentation

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The market is segmented based on various factors, including types, products, end user, and region.

Segmentation by Types
Conventional MR Imaging Devices
Robotic-Assisted MR Imaging Devices

Segmentation by Products
Systems
Instruments and Accessories

Segmentation by End User
Hospitals
Ambulatory Surgery Centers and Others

Segmentation by Region
North America – U.S., Canada
Europe – Germany, France, U.K., Italy, Spain, Rest-of-Europe
Rest-of-the-World- Japan, China, Rest-of-Rest-of-the-World

The conventional MR imaging devices segment is expected to dominate the global MR imaging market in neurosurgery. This market is classified into conventional and robotic-assisted MR imaging devices. In 2021, conventional MR imaging devices accounted for 88.51% of the market share, and this segment is projected to grow at a robust rate of 5.43% CAGR during the forecast period 2022-2031. The growth is driven by the increasing prevalence of neurological disorders and the demand for intraoperative MRI. On the other hand, robotic-assisted MR imaging devices are expected to grow at a CAGR of 6.10% during the same period and reach $19.9 million by the end of 2031.

Within the product segment, the systems segment is expected to dominate the global MR imaging market in neurosurgery. This segment includes scanners, machines, platforms, and systems used for MRI. It consists of both MRI-compatible and MRI-guided systems for neurosurgery. Intraoperative MRI (iMRI) refers to the use of MRI scanners in the operating room. While open MRI systems offer uninterrupted access to patients, they have lower image quality. Closed MRI systems provide high-quality images but limit patient access. Designing an iMRI suite that addresses these challenges is a key hurdle in the market’s growth. However, real-time visualization and guidance provided by iMRI during surgery drive market growth. Up-to-date information from iMRI helps surgeons adjust their approach, increasing procedure accuracy.

Hospitals dominate the end user segment of the global MR imaging market in neurosurgery. Hospitals are at the forefront of adopting MR imaging systems for neurosurgery due to the increasing number of neurosurgeries and patient care requirements. Both private and public hospitals have seen a rise in MR imaging usage in neurosurgery. The growing trend of minimally invasive surgeries in hospitals, which require imaging for accuracy verification, contributes to the segment’s growth.

North America and Europe hold the largest share in the global MR imaging market in neurosurgery due to their technologically advanced healthcare systems, significant advancements in medical imaging and robotics, and substantial funding for research and development. In contrast, regions like Rest-of-the-World are expected to experience slight growth during the forecast period 2022-2031 due to high investment costs and lack of awareness.

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Competitive Landscape

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The selection of the profiled companies was based on inputs obtained from primary experts, as well as an analysis of their company coverage, product portfolio, and market penetration.

Key companies profiled in this report include 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.

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Recent Industry Developments

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In June 2022, Hyperfine Inc. announced its expansion into the markets of Australia and New Zealand after obtaining Medical Device Registration and notification.

In June 2022, Hyperfine Inc. obtained FDA Clearance for two new imaging sequences.

In May 2022, Koninklijke Philips N.V. received FDA 510(k) clearance for its latest high-performance MR 7700 system, which represents a significant breakthrough.

In April 2022, FAULHABER successfully integrated a new subsidiary named PDT Präzisionsdrehteile GmbH from Nürtingen.

In March 2022, AiM Medical Robotics secured $3.4 million in seed financing to advance the field of neurosurgery with MRI-compatible robotics.

In February 2022, Esaote S.p.A received FDA approval for the Magnifico Open MRI system.

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Key Questions Answered

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What is the projected market forecast for MR imaging in neurosurgery?

What are some of the key strategies employed by market players in this industry?

What is the current procedure volume for MR imaging in neurosurgery globally, and what is the forecast for its future growth?

How has the COVID-19 pandemic affected the growth of the MR imaging in neurosurgery market?

What are the significant developmental strategies implemented by major players to maintain a competitive edge in the market?

Who are the prominent global key players and what roles do they play in the MR imaging and robotic-assisted MR imaging in the neurosurgery market?

What is the regulatory framework for MRI devices in different countries?