Press release
Thyroid Ablation Devices Market
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.
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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.
Rise in development of pharmaceutical and medical device industries and improvement in healthcare spending are anticipated to drive growth of the thyroid ablation devices market. In addition, increase in demand for treatment of thyroid cancer led to development of innovative technologies in the healthcare sector, thereby propelling growth of the market.
Covid-19 Scenario:
The Covid-19 pandemic impacted the global thyroid ablation devices market negatively as the demand for these devices reduced due to postponement of non-elective surgeries. The surgeries were carried out only in emergency cases.
Manufacturing activities for thyroid ablation devices were stopped partially or completely due to lockdown restrictions. Shortage of workforce and raw material supply also presented challenges in manufacturing.
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North America to maintain its dominant share by 2030
Based on region, 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
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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