Thyroid Ablation Devices Market
Thyroid Ablation Devices Market Size, Share & Trends Analysis Report by Type (Radiofrequency Ablation, Microwave Ablation, and Others), by Product (Thermal-based Devices and Non-thermal-based Devices), By Application, (Thyroid Cancer and Thyroid Nodules), by End-use (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), Forecast Period (2023-2030)
Thyroid ablation devices market is anticipated to grow at a considerable CAGR of 9.8% during the forecast period (2023-2030). The growth of this market is attributed to the increasing prevalence of thyroid cancer which has created demand for this device. In 2023, the American Cancer Society estimated thyroid cancer in the US, about 43,720 new cases of thyroid cancer (12,540 in men and 31,180 in women). About 2,120 deaths from thyroid cancer (970 in men and 1,150 in women). The average age when a person is diagnosed with thyroid cancer is 51. This cancer is about 3 times more common in women than in men, and it is about 70% more common in white people than in black people. In addition, in November 2022, the article “Senior Population Statistics: A Portrait of Aging Americans”, reported 54.1 million adults or 16.3% of the US population are seniors including aged 65 or older. The senior population is expected to rise to 22% by 2040 and 25% by 2060. The growing demand for minimally invasive treatment surgeries has further created huge scope for the market growth.
Segmental Outlook
The global thyroid ablation devices market is segmented by type, product, application and end-use. Based on the type, the market is sub-segmented into radiofrequency ablation, microwave ablation, and others. Where, others include image-guided ablation. Based on the product, the market is sub-segmented into thermal-based devices, and non-thermal-based devices. Based on the application, the market is sub-segmented into thyroid cancer, and thyroid nodules. Further, based on end-use, the market is sub-segmented into hospitals and clinics, ambulatory surgical centers, and others. Where, other include cancer specialty centers. Among the end-use, the hospitals and clinics sub-segment is anticipated to hold the largest market share during the forecast period. The large share of this segment is credited to the lower costs, higher efficiency, and availability.
Microwave Ablation Sub-Segment is Anticipated to Hold a Considerable Share of the Global Thyroid Ablation Devices Market
Among the type, microwave ablation sub-segments expected to grow over the forecast period, owing to the owing to shorter treatment duration, a broader ablation zone, and less heat sink effect. A generator, a flexible cable, and an antenna make up the MWA system. An article published by Gland Surgery, namely “Microwave ablation for thyroid nodules: a new string to the bow for percutaneous treatments?” recorded experimental studies and studies on other organs, MWA could be a further step in percutaneous techniques for thyroid nodules, giving the advantage to reduce treatment time, reduce the heat sink effect, create an ellipsoidal ablated zone which best fits with the shaping of thyroid nodules.
Regional Outlook
The global thyroid ablation devices market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East &Africa, and Latin America. Among these, Asia-Pacific is anticipated to grow at a considerable CAGR over the forecast period. The growing demand for thyroid ablation devices, increasing geriatric population, the rising healthcare expenditure, and increasing incidences of thyroid cancer cases driving the thyroid ablation devices market in the Asia-Pacific.
Global Thyroid Ablation Devices Market Growth, by Region 2023-2030
North America Holds Considerable Share in the Global Thyroid Ablation Devices Market
North America is expected to hold a prominent share in the thyroid ablation devices market during the forecast period. The significant factors fueling the North America market include increasing prevalence of thyroid cancer, growing preference for minimally invasive surgeries and availability of technically sound ablation procedures. Further, the key players are expanding their presence into the region to cater to the demand for thyroid ablation devices in the market. In October 2023, STARmed Co., Ltd., a South Korean medical device company, launched its US subsidiary, STARmed America. This strategic move underscores STARmed's commitment to improving patient care in North America as part of its broader vision for global expansion. STARmed Co., Ltd. has been at the forefront of thermal ablation innovations, offering patient comfort through minimally invasive alternatives. The company focuses on Liver Radiofrequency Ablation (RFA), Radiofrequency Ablation (RFA), and engineered the first thyroid-specific RF electrodes in 2009.
Market Players Outlook
The major companies serving the thyroid ablation devices market include Boston Scientific Corp., Integra LifeSciences Corp., Johnson & Johnson Services, Inc., Medtronic Plc, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in November 2023, the US Food and Drug Administration (FDA) cleared Baird Medical’s microwave ablation (MWA) system and disposable needles for use in the US. The clearance, which is through Baird Medical subsidiary Betters Medical, means doctors in the US can now use the technology to ablate thyroid nodules, breast tumors and other diseases where soft tissue needs to be removed. In July 2023, China’s National Medical Products Administration (NMPA) approved the system to treat benign thyroid nodules.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global thyroid ablation devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Boston Scientific Corp.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Integra LifeSciences Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Johnson & Johnson Services, Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Medtronic Plc
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
4. Market Segmentation
4.1. Global Thyroid Ablation Devices Market by Type
4.1.1. Radiofrequency Ablation
4.1.2. Microwave Ablation
4.1.3. Other (Image-guided Ablation)
4.2. Global Thyroid Ablation Devices Market by Product
4.2.1. Thermal-based Devices
4.2.2. Non-thermal-based Devices
4.3. Global Thyroid Ablation Devices Market by Application
4.3.1. Thyroid Cancer
4.3.2. Thyroid Nodules
4.4. Global Thyroid Ablation Devices Market by End-Use
4.4.1. Hospitals and Clinics
4.4.2. Ambulatory Surgical Centers
4.4.3. Others (Cancer Specialty Centers)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. BIOTRONIK SE & Co. KG
6.2. BVM Medical Ltd.
6.3. CONMED Corp.
6.4. Lepu Medical Technology(Beijing)Co., Ltd.
6.5. Mechan Europe Ltd.
6.6. MedWaves Inc.
6.7. Olympus Corp.
6.8. RF Medical Co Ltd.
6.9. RGS Healthcare
6.10. Smith & Nephew plc
6.11. StarMedCo. Ltd.
6.12. Stryker Corp.
6.13. TaeWoong Medical USA
6.14. Terumo Europe NV
6.15. Theraclion S. A.
1. GLOBAL THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
2. GLOBAL RADIOFREQUENCY THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL MICROWAVE THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL OTHER TYPES OF THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
6. GLOBAL THERMAL-BASED THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL NON-THERMAL-BASED THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
9. GLOBAL THYROID ABLATION DEVICES FOR THYROID CANCER MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL THYROID ABLATION DEVICES FOR THYROID NODULES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USE, 2022-2030 ($ MILLION)
12. GLOBAL THYROID ABLATION DEVICES FOR HOSPITALS AND CLINICS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL THYROID ABLATION DEVICES FOR AMBULATORY SURGICAL CENTERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL THYROID ABLATION DEVICES FOR OTHER END-USE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. GLOBAL THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. NORTH AMERICAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
17. NORTH AMERICAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
18. NORTH AMERICAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
19. NORTH AMERICAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
20. NORTH AMERICAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USE, 2022-2030 ($ MILLION)
21. EUROPEAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
22. EUROPEAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
23. EUROPEAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
24. EUROPEAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
25. EUROPEAN THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USE, 2022-2030 ($ MILLION)
26. ASIA-PACIFIC THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
27. ASIA-PACIFIC THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
28. ASIA-PACIFIC THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
29. ASIA-PACIFIC THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
30. ASIA-PACIFIC THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USE, 2022-2030 ($ MILLION)
31. REST OF THE WORLD THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
32. REST OF THE WORLD THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY PRODUCT, 2022-2030 ($ MILLION)
33. REST OF THE WORLD THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
34. REST OF THE WORLD THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USE, 2022-2030 ($ MILLION)
1. GLOBAL THYROID ABLATION DEVICES MARKET SHARE BY TYPE, 2022 VS 2030 (%)
2. GLOBAL RADIOFREQUENCY THYROID ABLATION DEVICES MARKET SHARE, 2022 VS 2030 (%)
3. GLOBAL MICROWAVE THYROID ABLATION DEVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL OTHER TYPES OF THYROID ABLATION DEVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL THYROID ABLATION DEVICES MARKET SHARE BY PRODUCT, 2022 VS 2030 (%)
6. GLOBAL THERMAL-BASED THYROID ABLATION DEVICES MARKET SHARE, 2022 VS 2030 (%)
7. GLOBAL NON-THERMAL-BASED THYROID ABLATION DEVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL THYROID ABLATION DEVICES MARKET SHARE BY APPLICATION, 2022 VS 2030 (%)
9. GLOBAL THYROID ABLATION DEVICES FOR THYROID CANCER MARKET SHARE, 2022 VS 2030 (%)
10. GLOBAL THYROID ABLATION DEVICES FOR THYROID NODULES MARKET SHARE, 2022 VS 2030 (%)
11. GLOBAL THYROID ABLATION DEVICES MARKET RESEARCH AND ANALYSIS BY END-USE, 2022 VS 2030 (%)
12. GLOBAL THYROID ABLATION DEVICES FOR HOSPITALS AND CLINICS MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL THYROID ABLATION DEVICES FOR AMBULATORY SURGICAL CENTERS MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL THYROID ABLATION DEVICES FOR OTHER END-USE MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. GLOBAL THYROID ABLATION DEVICES MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. US THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
17. CANADA THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
18. UK THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
19. FRANCE THYROIDABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
20. GERMANY THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
21. ITALY THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
22. SPAIN THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
23. REST OF EUROPE THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
24. INDIA THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
25. CHINA THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
26. JAPAN THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
27. SOUTH KOREA THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
28. REST OF ASIA-PACIFIC THYROID ABLATION DEVICESMARKET SIZE, 2022-2030 ($ MILLION)
29. REST OF THE WORLD THYROID ABLATION DEVICES MARKET SIZE, 2022-2030 ($ MILLION)
