GVR Report cover Thyroid Ablation Devices Market Size, Share & Trends Report

Thyroid Ablation Devices Market Size, Share & Trends Analysis Report By Type (Image-guided Ablation, Radiofrequency Ablation, Microwave Ablation), By Product Type, By Application, By End-user, By Region, And Segment Forecasts, 2023 To 2030

  • Report ID: GVR453765
  • Number of Pages: 0
  • Format: Electronic (PDF)

Rising prevalence of thyroid cancer & thyroid nodules, growing preference of minimally invasive surgeries, and availability of technologically sound ablation procedures is expected to drive the thyroid ablation devices market globally. Additionally, presence of government support & funding for the treatment of Hashimoto’s thyroiditis, an autoimmune disorder that attack thyroid cells and cause hypothyroidism. Hashimoto’s thyroiditis is the most common cause of developing hypothyroidism, almost 5 out of 100 veterans suffer from it. According to NCBI, the incidence is expected to be 0.8 per 1000 per year in men and 3.5 per 1000 per year in women.

Moreover, according to American Cancer Society's (ACS) publications, around 43,800 adults among which 31,940 are females and 11,860 are males in the U.S. is expected to be diagnosed with the thyroid cancer in 2022. The seventh frequent type of cancer found in women is thyroid cancer. The cases of thyroid cancer diagnoses worldwide are estimated to reach 586,202 in 2020. Thyroid cancer is three times as common in women than in men. The estimated global death toll from thyroid cancer in 2020 is 43,646.

Thyroid ablation devices are the most frequently used for the treatment thyroid nodules and thyroid cancers. An abnormally growing mass of thyroid cells in the thyroid gland is known as a thyroid nodule. The thyroid gland is positioned close to the base of the throat, and thyroid cancer is a type of solid tumor malignancy that turns up as a nodule or lump there. It occurs when rogue cells proliferate at a rate that is faster than the immune system can cope with. Although there are many different types of thyroid cancer, papillary thyroid cancer and follicular thyroid cancer account for almost all instances (95 percent).

Thyroid cancer is known to be at increased risk due to radiation exposure. The International Agency for Research on Cancer (IARC) has found that persons who are overweight or obese are more likely than those who are not to get thyroid cancer. In regions of the world where iodine intake is low, follicular thyroid cancers are more prevalent. Iodine-rich diets, however, may increase the risk of papillary thyroid cancer. Because it is added to table salt and other meals in the United States, the majority of people consume enough iodine.

Thyroid ablation devices market has been segmented on the basis of type, product type, application, and end user. The type segment is classified into image-guided ablation, radiofrequency ablation, microwave ablation, and others. Thermal based devices and non-thermal based devices comes under the product type segment. On the basis of application, the market is bifurcated into thyroid cancer and thyroid nodules. The thyroid cancer is further segmented into its types such as papillary, follicular, medullary, and anaplastic thyroid carcinomas. The end-user segment includes hospitals, ambulatory surgical centers, cancer specialty centers, and others. Furthermore, the market is segmented on the basis on regional outlook into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Thyroid Ablation Devices Market: Segmentation

Segments

Details

By Type

  • Image-guided Ablation
  • Radiofrequency Ablation
  • Microwave Ablation
  • Others

By Product Type

  • Thermal Based Devices
  • Non-Thermal Based Devices

By Application

  • Thyroid Cancer
    • Papillary Thyroid Cancer
    • Follicular Thyroid Cancer
    • Medullary Thyroid Cancer
    • Anaplastic Thyroid Cancer
  • Thyroid Nodules

By End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Cancer Specialty Centers
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

The Covid-19 pandemic has impacted negatively on the global thyroid ablation devices market. The planned thyroid ablation surgeries and thyroid cancer surgeries were delayed on the onset of infection by almost 4 weeks as they were elective or non-essential surgeries. However, the maintenance and installation cost of thyroid ablation devices is expected to create a stumbling block in the market growth during forecast period.

The major players operating in the global thyroid ablation devices market are Boston Scientific Corporation, BVM Medical System, Integra Life Sciences, Johnson & Johnson, Medtronic Plc., MedWaves Inc., Olympus Corporation, StarMed Co.Ltd., Terumo Europe, and Theraclion. Moroever, companies are involved in various strategic initiatives in order to fuel the growth of the market. For Instance, Ethicon, a subsidiary of Johnson & Johnson has received FDA breakthrough device designation for their robot-assisted bronchoscopy-based transbronchial microwave ablation technique in 2020. Additionally, In August 2020, the QDOT MICRO radiofrequency (RF) ablation catheter from Biosense Webster, a subsidiary of Johnson & Johnson Medical Devices Companies, has been given European CE mark approval. The usage of the device is approved in both Europe and Japan. In the US, there is still an investigation going on.

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