Thyroid Ablation Devices Market 2023-2030

PORTLAND, OREGON, UNITED STATES, October 19, 2023 /EINPresswire.com/ -- What is Thyroid Ablation ?

Thyroid Ablation is a procedure done to restore the function of thyroid gland while suffering from thyroid cancer and thyroid nodule.

According to the report, the global thyroid ablation devices industry generated $472.8 million in 2020, and is estimated to reach $1.29 billion by 2030, witnessing a CAGR of 10.6% from 2021 to 2030.

The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

The radiofrequency ablation segment to maintain its lead position by 2030

The hospitals and clinics segment to maintain its leadership status throughout the forecast period

North America to maintain its dominant share by 2030.

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Rise in prevalence of thyroid cancer and thyroid nodules, demand for minimally invasive procedures, and technological advancements in ablation devices drive the growth of the global thyroid ablation devices market. However, high cost of installation and maintenance restrain the market growth. On the other hand, surge in healthcare expenditure worldwide presents opportunities in the coming years.

Major Factors Driving the Growth of Thyroid Ablation Devices Market:
 

Increasing Incidence of Thyroid Disorders: The prevalence of thyroid nodules and thyroid cancer is on the rise, driving the demand for thyroid ablation procedures. Factors such as improved diagnostic techniques and increased awareness contribute to higher diagnosis rates.

Minimally Invasive Techniques: Minimally invasive thyroid ablation procedures, such as radiofrequency ablation (RFA) and laser ablation, have gained popularity due to their reduced risk, shorter recovery times, and improved patient comfort compared to traditional surgical approaches.

Technological Advancements: Ongoing technological advancements have led to the development of more precise and effective thyroid ablation devices. These devices enable clinicians to target and treat thyroid nodules and tumors with greater accuracy.

Growing Geriatric Population: The elderly population is at a higher risk of thyroid disorders, including nodules and cancer. As the global geriatric population continues to expand, there is an increased demand for thyroid ablation procedures and devices.

Patient Preference for Non-Surgical Treatments: Patients are increasingly seeking non-surgical treatment options for thyroid nodules and cancer. Minimally invasive procedures using thyroid ablation devices align with this preference and are less invasive than traditional surgical approaches.

Reduced Hospitalization Costs: Thyroid ablation procedures often lead to shorter hospital stays, cost savings, and reduced healthcare resource utilization compared to surgery, making them an attractive option for patients and healthcare systems.

Market Segmentation:

Product Type:

Radiofrequency Ablation (RFA) Devices: These devices use thermal energy to destroy thyroid tissue, including nodules and tumors.
Laser Ablation Devices: Laser ablation devices use focused laser energy for the treatment of thyroid conditions.
Microwave Ablation Devices: Microwave ablation devices use microwave energy for thyroid tissue ablation.
Ethanol Ablation Devices: Ethanol ablation involves injecting ethanol directly into the thyroid nodule or cyst to shrink and destroy it.

Indication:

Benign Thyroid Nodules: Devices used for the treatment of non-cancerous thyroid nodules, often performed to relieve symptoms or cosmetic concerns.
Thyroid Cancer: Devices used for the ablation of thyroid cancer, particularly for small, localized tumors or lymph node metastases.

End User:

Hospitals: Devices used in hospital settings, including specialized thyroid clinics.
Ambulatory Surgical Centers (ASCs): Facilities that perform minimally invasive thyroid ablation procedures on an outpatient basis.
Clinics and Physician Offices: Devices used in smaller healthcare settings by endocrinologists and other specialists.

Geography:

North America  (U.S., Canada, Mexico)
Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
LAMEA  (Latin America, Middle East & Africa)

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Regional Growth Dynamics:

North America accounted for the highest market share in terms of revenue in 2020, holding more than two-fifths of the global thyroid ablation devices market, and is expected to maintain its dominant share by 2030. This is due to robust infrastructure provided for research activities and presence of key players across the region. However, Asia-Pacific is estimated to portray the fastest CAGR of 11.1% during the forecast period, owing to rise in usage for new drug discovery, R&D activities for launching new products, and increase in investments in the healthcare sector.

Major Market Players:

Boston Scientific Corporation
BVM Medical System
Integra LifeSciences
Johnson & Johnson
Medtronic Plc
Medwaves Inc.
Olympus Corporation
STARmed Co., Ltd.
Terumo Corporation
Theraclion

Key Questions Answered in the Intelligent Study

What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?

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Market Dynamics and Transformations

Economic Downturn Analysis: Impact of Recession in 2023
Pandemic's Influence: Impact of Covid-19 Pandemic
Market Evolution: Recent Developments in the Market with Key Players Announcements

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