Global Thyroid Ablation Devices Market By Product Type (Microwave and Radiofrequency), By Technology (Thermal and Non-thermal), By Application (Cancer and Nodules), By End-use (Hospitals, Cancer Specialty Centers, Ambulatory Surgical Centers, and Others), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

Global Thyroid Ablation Devices Market size is expected to be worth around US$ 418.3 Million by 2033 from US$ 168.8 Million in 2023, growing at a CAGR of 9.5% during the forecast period 2024 to 2033.

Increasing prevalence of thyroid disorders and rising cases of thyroid cancer drive growth in the thyroid ablation devices market. The American Cancer Society reported approximately 43,720 new cases of thyroid cancer in the United States in 2023, underscoring the demand for minimally invasive treatment options. Ablation devices provide effective, non-surgical alternatives for managing benign and malignant thyroid nodules, improving patient outcomes and reducing recovery times.

The market sees continued innovation in microwave, radiofrequency, and laser ablation technologies, each offering precise and targeted tissue destruction with minimal damage to surrounding areas. Advancements in ultrasound-guided procedures further enhance the accuracy and safety of ablation, making it a preferred option for patients ineligible for surgical resection.

Growing awareness of ablation’s benefits over traditional surgery accelerates adoption among healthcare providers seeking efficient, outpatient treatment solutions.

Additionally, a shift toward outpatient care and personalized treatment approaches fuels demand for these devices, supporting their integration into clinical practice. Investments in research and development create opportunities for improved ablation devices with enhanced energy control, catering to diverse patient needs. These trends position the thyroid ablation devices market for sustained growth, driven by technological innovations and an expanding patient base requiring effective thyroid care.

 Key Takeaways

• In 2023, the market for thyroid ablation devices generated a revenue of US$ 8 million, with a CAGR of 9.5%, and is expected to reach US$ 418.3 million by the year 2033.
• The product type segment is divided into microwave and radiofrequency, with radiofrequency taking the lead in 2023 with a market share of 63.5%.
• Considering technology, the market is divided into thermal and non-thermal. Among these, thermal held a significant share of 71.2%.
• Furthermore, concerning the application segment, the market is segregated into cancer and nodules. The cancer sector stands out as the dominant player, holding the largest revenue share of 58.9% in the thyroid ablation devices market.
• The end-use segment is segregated into hospitals, cancer specialty centers, ambulatory surgical centers, and others, with the hospitals segment leading the market, holding a revenue share of 52.4%.
• North America led the market by securing a market share of 41.2% in 2023.

By Product Type Analysis

The radiofrequency segment led in 2023, claiming a market share of 63.5% owing to its effectiveness in treating benign and malignant thyroid nodules. As a minimally invasive procedure, radiofrequency ablation offers a safe and effective alternative to surgical removal, which makes it increasingly popular among patients and healthcare providers. Rising awareness of thyroid-related health issues encourages patients to opt for less invasive treatments, bolstering demand for radiofrequency devices.

Technological advancements that improve precision and reduce recovery times contribute to the segment’s appeal. Additionally, an increase in thyroid disorder prevalence, especially in aging populations, further supports the need for effective treatment options.

Favorable reimbursement policies and regulatory support in several regions enhance accessibility and adoption. The ability to perform these procedures on an outpatient basis is likely to drive growth, particularly as healthcare systems shift toward minimally invasive interventions.

By Technology Analysis

The thermal held a significant share of 71.2% as patients and providers increasingly seek non-surgical treatments for thyroid nodules and cancers. Thermal ablation offers a targeted approach, using heat to destroy abnormal tissue without affecting surrounding areas, which reduces risks associated with traditional surgery.

The rising incidence of thyroid nodules and cancers, especially among aging populations, supports the adoption of thermal ablation as a primary or adjunct therapy. Technological advancements that improve accuracy and treatment efficiency make thermal ablation more attractive to healthcare providers.

Additionally, thermal ablation’s efficacy in outpatient settings aligns with trends favoring minimally invasive procedures, which are less costly and involve shorter recovery times. Increased clinical evidence supporting the safety and effectiveness of thermal methods strengthens patient confidence and demand, positioning the thermal segment for robust expansion.

By Application Analysis

The cancer segment had a tremendous growth rate, with a revenue share of 58.9% owing to the rising prevalence of thyroid cancers and the demand for non-invasive treatment options. An increasing number of patients with early-stage thyroid cancer are opting for ablation over surgery, driven by the desire for minimally invasive procedures that allow for quicker recovery and reduced complications.

Advancements in ablation technology enhance precision in targeting cancerous cells, which reduces risks associated with traditional surgery. Growing awareness of early diagnosis and treatment options encourages patients to seek ablation as an effective cancer management solution.

Additionally, favorable clinical outcomes and increased government funding for cancer treatment options contribute to the demand for thyroid cancer ablation. As healthcare providers increasingly prioritize outpatient cancer treatments, the demand for ablation devices in cancer management is expected to rise, further supporting segment growth.

By End-use Analysis

The hospitals segment grew at a substantial rate, generating a revenue portion of 52.4% as hospitals remain central to the provision of advanced treatment options for thyroid disorders. Rising hospital admissions for thyroid-related issues, driven by increasing awareness and diagnosis rates, bolster the demand for thyroid ablation treatments.

Hospitals benefit from access to advanced imaging and ablation technologies, which improve the safety and effectiveness of ablation procedures. The availability of skilled specialists in hospital settings further supports this segment’s expansion. Government initiatives aimed at improving healthcare infrastructure in emerging markets enhance hospital capacities to offer thyroid ablation procedures.

Additionally, the trend towards minimally invasive and outpatient procedures aligns with hospitals’ objectives to streamline care and improve patient satisfaction. Partnerships with device manufacturers facilitate the adoption of cutting-edge technology, positioning hospitals as key providers in the thyroid ablation landscape.

Key Market Segments

By Product Type

• Microwave
• Radiofrequency

By Technology

• Thermal
• Non-thermal

By Application

• Cancer
• Nodules

By End-use

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

Drivers

Rising Prevalence of Thyroid Cancer is Driving the Market

Rising prevalence of thyroid cancer drives the thyroid ablation devices market significantly. According to the International Agency for Research on Cancer, thyroid cancer cases are estimated to reach nearly 1.98 million globally by 2025, making it a critical area for medical intervention. Thyroid cancer ranked as the fifth most common cancer among females in 2020, highlighting an urgent need for effective treatment options.

As diagnosis rates increase, healthcare providers are expected to prioritize advanced ablation technologies to offer minimally invasive treatment options for patients. The demand for precise and efficient thyroid ablation devices grows as they improve patient outcomes and reduce recovery times compared to traditional surgical methods. This expanding patient base is anticipated to propel market growth, with innovation in ablation techniques further driving its adoption.

Restraints

High Cost of Devices is Restraining the Market

High costs associated with thyroid ablation devices restrain market growth. These devices require advanced technology and precision engineering, making them costly to manufacture and challenging for healthcare facilities with limited budgets to adopt. Financial constraints in acquiring and maintaining these devices, along with expenses related to operator training, impede the expansion of ablation treatments in smaller healthcare settings.

Moreover, in regions with limited insurance coverage or restricted healthcare budgets, patients may face significant financial barriers to accessing this specialized care. These high costs are likely to hamper broader market penetration, especially in low- and middle-income countries. Efforts to reduce device costs and improve affordability could mitigate these financial restraints and support more extensive adoption of thyroid ablation treatments.

Opportunities

Increasing Government Approvals are Creating Opportunities in the Market

Increasing government approvals for thyroid ablation treatments create valuable opportunities in the thyroid ablation devices market. In March 2022, the Epione robot, capable of planning, targeting, delivering, and confirming tumor ablation for cancer treatment, received 510(k) clearance from the US Food and Drug Administration.

Such regulatory approvals underscore a growing acceptance of ablation technologies in the medical field, encouraging further innovations and fostering a competitive market environment. As more devices receive regulatory clearance, healthcare providers are projected to expand their use of ablation techniques, offering patients minimally invasive and efficient treatment options. With rising support from regulatory bodies, the thyroid ablation devices market is likely to experience significant growth as it aligns with evolving standards of cancer care.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic and geopolitical factors significantly influence the thyroid ablation devices market, shaping demand, accessibility, and innovation. Economic downturns may limit healthcare funding, restricting hospital budgets and reducing access to advanced ablation devices, especially in underserved regions. However, economic growth encourages investment in healthcare infrastructure, expanding access to cutting-edge technologies for thyroid treatment.

Geopolitical tensions can disrupt supply chains, causing shortages of critical device components and increasing costs, which impacts affordability for providers and patients. Despite these challenges, international collaborations and favorable trade policies foster cross-border technological advancements, enhancing device quality and availability.

Additionally, the increasing focus on minimally invasive treatment options and growing healthcare spending globally indicate strong market potential for thyroid ablation technologies, driving positive momentum.

Latest Trends

Mergers and Acquisitions Driving Growth in the Thyroid Ablation Devices Market

Rising mergers and acquisitions drive considerable growth in the thyroid ablation devices market, with key players expanding portfolios and geographic reach through strategic acquisitions. Companies actively pursue acquisitions to bolster their product offerings and gain competitive advantages.

For instance, in December 2022, Boston Scientific Corporation acquired a majority stake in Acotec Scientific Holdings Limited, whose portfolio includes radiofrequency ablation (RFA) technologies and thrombus aspiration catheters. Such acquisitions are projected to enhance research and development capabilities, facilitating the creation of more efficient and effective ablation solutions.

By leveraging resources and expertise through these mergers, companies likely accelerate product innovation and regulatory approvals. The ongoing trend of consolidation in the market is anticipated to strengthen technological advancement and improve patient access, positioning the sector for robust, sustainable growth.

Regional Analysis

North America is leading the Thyroid Ablation Devices Market

North America dominated the market with the highest revenue share of 41.2% owing to rising thyroid cancer cases and an increasing preference for minimally invasive treatment options. The American Cancer Society projects that in 2024, the United States will see approximately 44,020 new cases of thyroid cancer, with 31,520 occurring in women and 12,500 in men, accompanied by an estimated 2,170 related deaths.

This high incidence has spurred demand for effective, minimally invasive treatment alternatives such as ablation devices. Advances in radiofrequency and microwave ablation technologies have improved procedural safety and efficacy, further encouraging adoption among healthcare providers.

Additionally, a growing emphasis on outpatient care and cost-effective treatment options has led hospitals and clinics to expand their thyroid ablation offerings. Strong healthcare infrastructure and increased awareness about early thyroid disease intervention also contribute to the robust growth observed in North America’s thyroid ablation device market.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

Asia Pacific is expected to grow with the fastest CAGR regulatory advancements and growing awareness about non-surgical treatment options. For instance, in July 2023, Baird Medical received approval from China’s National Medical Products Administration (NMPA) for a Class III microwave ablation disposable needle, specifically designed for thyroid nodule treatment.

This regulatory support encourages the use of advanced, minimally invasive treatments across the region. Rising thyroid disorder diagnoses, combined with an expanding healthcare infrastructure, particularly in countries like China and India, are projected to drive demand for ablation devices.

Additionally, increasing disposable income and healthcare spending in emerging economies are likely to make these advanced treatments more accessible to a wider patient population. Consequently, the Asia Pacific thyroid ablation devices market is expected to experience robust growth as awareness and adoption of innovative thyroid treatment options continue to rise.

Key Regions and Countries

North America

• US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherland
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• Australia
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Key Players Analysis

The major players in the thyroid ablation devices market are actively engaged in the development and introduction of innovative products, as well as implementing strategic initiatives aimed at enhancing their competitive positioning. Key players in the thyroid ablation devices market implement focused strategies to drive growth and strengthen their competitive standing.

They prioritize research to develop minimally invasive technologies that offer greater precision and faster recovery, appealing to both clinicians and patients. Partnerships with hospitals and specialized clinics enhance device accessibility and support training for healthcare professionals.

Companies also work to expand their geographic presence, particularly in regions with rising thyroid disease prevalence. Marketing strategies emphasize patient education and the benefits of non-surgical options, which help increase demand for ablation therapies over traditional approaches.

Top Key Players

• Terumo Corporation
• Stryker Corporation
• STARmed
• Medtronic plc
• Johnson & Johnson
• Integra Lifesciences Holdings Corporation
• BVM Medical Limited
• Boston Scientific Corporation
• AngioDynamics, Inc.

Recent Developments

• In August 2023, STARmed inaugurated its subsidiary, STARmed America, to enhance direct customer support and strengthen collaborations within the US market for its advanced thermal ablation technology. This strategic move is relevant to the growth of the thyroid ablation devices market, as it expands STARmed’s geographical presence, facilitating access to innovative ablation solutions and fostering market development through closer customer engagement in a key region.
• In January 2022, Medtronic plc entered into a comprehensive acquisition agreement with Affera, Inc., thereby expanding its portfolio of advanced cardiac ablation products and accessories. This acquisition is significant for the thyroid ablation devices market, as it bolsters Medtronic’s position in ablation technologies, equipping it with enhanced capabilities to meet physician needs and supporting broader adoption of ablation solutions across multiple therapeutic areas.

Report Scope