Thyroid Ablation Devices Market Size, Share, Opportunities, And Trends By Type (Image-guided Ablation, Radiofrequency Ablation, Microwave Ablation, Others), By Application (Thyroid Nodules, Thyroid Cancer), By End-user (Hospitals & Clinics, Ambulatory Surgical Centers, Cancer Specialty Centers), And By Geography - Forecasts From 2023 To 2028

The thyroid ablation devices market is anticipated to show steady growth during the forecast period.

Thyroid ablation involves the use of various methods and devices to treat conditions such as thyroid nodules, hyperthyroidism, or thyroid cancer. Radioactive Iodine (RAI) therapy is commonly employed, where patients ingest or receive radioactive iodine to destroy abnormal thyroid cells, especially after thyroidectomy. Ethanol ablation, utilizing the injection of ethanol into thyroid nodules, is effective for shrinking or eliminating benign nodules. Laser ablation employs laser energy for treating thyroid nodules or small cancers, while microwave ablation uses microwaves to generate heat for nodule treatment.

High-Intensity Focused Ultrasound (HIFU) is a non-invasive method, employing focused ultrasound waves to create heat and ablate targeted thyroid tissue. The choice of method depends on the specific condition and individual health circumstances, and advancements in medical technology may introduce new devices or techniques.

Market Drivers

• Rise in cases of tumor-

The study conducted by researchers from Brigham and Women’s Hospital, revealing a global increase in early-onset cancers since around 1990, has significant implications for the healthcare landscape. The rising incidence of cancers affecting organs such as the breast, colon, esophagus, kidney, liver, and pancreas among individuals under the age of 50 has prompted a closer examination of potential contributing factors.

As the scientific community strives to understand the reasons behind this alarming trend, extensive analyses of available data, including early-life exposures, have been undertaken. This research not only sheds light on the factors associated with the surge in early-onset cancers but also underscores the urgency of addressing this growing health concern.

The projected figures for 2023, indicating 1,958,310 new cancer cases and 609,820 cancer-related deaths in the United States, emphasize the pressing need for advancements in cancer diagnosis and treatment. This surge in cancer cases may contribute to an increased demand for medical technologies and interventions, including thyroid ablation devices.

It is plausible that the rising cancer incidence could lead to an increased demand for various cancer treatment modalities. Thyroid ablation devices, which are utilized in the treatment of thyroid nodules, hyperthyroidism, and thyroid cancer, may witness heightened demand as healthcare systems respond to the growing challenges posed by increased cancer diagnoses. Additionally, there could be a need for increased research and development in the field of medical devices, including thyroid ablation devices, to ensure that they remain effective and accessible in addressing the evolving landscape of cancer diagnoses, including the observed trend of early-onset cancers.

• Growing geriatric population-

The growing geriatric population worldwide, coupled with demographic shifts such as those observed in the United States and Europe, has significant implications for the healthcare industry, leading to an increased demand for various medical services and devices, including thyroid ablation devices.

In the United States, the population aged 65 and over has experienced substantial growth, reaching 55.8 million or 16.8% of the total population in 2020. This demographic trend is indicative of an aging population, and as individuals age, there is often a higher prevalence of health conditions that may require medical intervention, including thyroid-related issues. Thyroid ablation devices play a crucial role in the management of conditions such as thyroid nodules, hyperthyroidism, and thyroid cancer, which may become more prevalent in older age groups.

In Europe, the dependency ratio, which measures the number of elderly individuals relative to the working-age population, is expected to increase significantly by 2100. This indicates a higher proportion of elderly individuals who may require healthcare services. With an aging population, the demand for healthcare services is likely to rise, and thyroid ablation devices may become increasingly important in addressing thyroid-related conditions prevalent in older age.

Market Challenges

Regulatory uncertainties pose significant challenges in the field of thyroid ablation, particularly due to the stringent guidelines set forth by regulatory bodies such as the FDA. These guidelines dictate patient selection criteria and specific ablation procedures, creating limitations in market access for certain devices and techniques.

The variability in reimbursement policies further complicates the landscape, with differences observed across countries and among various insurance providers. This diversity in reimbursement practices directly influences patient access to thyroid ablation procedures, thereby impacting the overall growth of the market. Navigating these regulatory intricacies becomes crucial for companies in the thyroid ablation sector, requiring careful consideration and adaptation to comply with varying regulatory frameworks and reimbursement structures

Thyroid ablation devices market by type- image-guided ablation, radiofrequency ablation, microwave ablation, and others

The thyroid ablation devices market is segmented by type, including Radiofrequency Ablation (RFA), Microwave Ablation, and other innovative approaches. In Image-guided Ablation, image-guided techniques involve the use of imaging technologies such as ultrasound or CT scans to precisely guide and monitor the ablation procedure. Radiofrequency Ablation employs high-frequency electrical currents to generate heat, effectively destroying thyroid tissue. This method is commonly utilized in the treatment of thyroid nodules, hyperthyroidism, and thyroid cancer. Microwave Ablation employs microwave energy to produce heat and ablate thyroid tissue. Other categories encompass emerging or alternative technologies and techniques for thyroid ablation that may not fall specifically under radiofrequency or microwave methods. These could include innovative approaches aimed at improving the precision, efficiency, or outcomes of thyroid ablation procedures.

APAC is anticipated to hold a significant share of the thyroid ablation devices market.

APAC is projected to account for a notable share of thyroid ablation devices, owing to various factors that collectively underscore the importance of healthcare in the region. One of the key contributors to this prominence is the rising number of cancer cases, a critical factor directly associated with the thyroid ablation devices market.

In particular, India, a major player in the APAC region, witnessed a notable increase in cancer cases. As of 2022, the estimated incidence cases of cancer in India reached 14,61,427, with a crude rate of 100.4 per 100,000 individuals. The prevalence of cancer is substantial, with one in nine people expected to develop cancer in their lifetime. Lung and breast cancers were identified as the predominant types in males and females, respectively. Projections indicate a further increase of 12.8 percent in cancer incidence by 2025 compared to 2020, signalling a persistent upward trend in cancer cases. As the incidence of cancer continues to grow, the demand for effective and precise treatments, including thyroid ablation procedures, becomes crucial for improving patient outcomes.

Market Developments

• October 2023-  STARmed Co., Ltd., a prominent South Korean medical device company, officially launched its U.S. subsidiary, STARmed America, marking a strategic initiative to enhance patient care in North America and advance its global expansion goals. STARmed has distinguished itself in the field of Thyroid Radiofrequency Ablation (RFA) technologies, pioneering the creation of the first thyroid-specific RF electrodes in 2009. Notably, the company achieved a significant milestone in 2017 with FDA clearance for its VIVA combo RF System, making it the first to introduce Thyroid RFA to the United States.
• August 2023-  China's National Medical Products Administration approved Baird Medical Investment Holdings Ltd.'s disposable microwave ablation (MWA) needle designed for treating benign thyroid nodules. This regulatory clearance signifies a pivotal step for Baird Medical, enabling the company to establish and expand its product portfolio catering to various thyroid diseases.

Company Products

• Thyroid radiofrequency ablation (RGS healthcare) -Thyroid radiofrequency ablation is a specialized application, designed to non-surgically eradicate benign thyroid nodules. This procedure is particularly suitable for treating autonomous functioning thyroid nodules, characterized by benign growths that produce excess thyroid hormone. Additionally, it is effective in addressing toxic nodules, which, while also benign, lead to hyperthyroidism due to excessive thyroid hormone production. This minimally invasive approach offers a targeted solution for managing thyroid nodules without the need for conventional surgery.
• Radio Frequency Thyroid (BVM Medical) RF Electrode- Radiofrequency Thyroid (RF) Electrodes are specifically crafted for thyroid ablation and lymph node ablation procedures. These electrodes boast ultra-thin and ultra-sharp designs, featuring a Teflon coating that facilitates easy penetration and manoeuvrability within the tissue. Offered in 18G and 19G diameters, with a variety of total lengths and active tip sizes, these electrodes provide versatility for different medical applications.
• CUSA NXT- The CUSA NXT ultrasonic surgical aspirator system is approved for application in surgical procedures requiring the fragmentation, emulsification, and aspiration of both soft and hard tissues, such as bone. It is suitable for a range of surgical specialties, including neurosurgery, gastrointestinal and affiliated organ surgery, urological surgery, plastic and reconstructive surgery, general surgery, orthopaedic surgery, gynaecological surgery, thoracic surgery, as well as laparoscopic and thoracoscopic surgery.

Market Segmentation

• By Type
  • Image-guided Ablation
  • Radiofrequency Ablation
  • Microwave Ablation
  • Others
• By Application
  • Thyroid Nodules
  • Thyroid Cancer
• By End-user
  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Cancer Specialty Centers
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others