The thyroid gland is located in the lower neck’s frontal area. The thyroid gland is shaped like a butterfly. It produces hormones that regulate our metabolism. Ablation may be necessary for an active thyroid gland, which produces more thyroid hormones. Thyroid ablation is used to remove thyroid nodules. These thyroid nodules can cause an increase in thyroid hormones, or make it difficult to breathe. Thyroid ablation can also be used to decrease the functioning of any or all components of the thyroid gland. These devices can be used to remove thyroid tissue to treat certain types and forms of thyroid malignancies.
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The market for thyroid ablation devices worldwide is segmented based on – Product Types and End-Users. Below is a detailed segmental description.
Based on Product Types:
• Radioactive Iodine Ablation
• Image-guided Ablation
• Thyroid Radiofrequency Ablation
Based on End-Users
• Cancer Research Organizations
• Radiotherapy Centres
• Research & Development Companies
Based on the Region
• North America
• South America
• Middle East and Africa
Market Dynamics –
The Global Thyroid Ablation Devices Market Drivers:
Hashimoto’s Disease is a key factor driving the thyroid ablation device industry forward. Hashimoto’s disease, a chronic inflammation condition of the thyroid gland, causes larger nodules and hypothyroidism. It is necessary to remove the nodules.
Thyroid cancer is on the rise, which has led to an increase in the need for thyroid ablation devices. To prevent thyroid cancer from spreading to other areas of the body, patients with this condition may require multiple thyroid ablation treatments. These are some of the factors that will increase this market over time.
Global Thyroid Ablation Devices Market Restraints:
The lack of thyroid ablation specialists with the necessary skills is one of the major obstacles to the market’s economic growth.
There are many opportunities in the global market for thyroid ablation devices
Many low-income countries are concerned about malnutrition, particularly among children and the elderly. Individuals who are malnourished often lack iodine, which is the most critical nutrient. A lack of iodine can lead to thyroid nodules. This industry is expected to reap the rewards of this factor.
Competitive Landscape –
The market’s key players are: HealthTronics, Galil Medical Inc., Angiodynamics, Misonix Inc., Medtronic Plc., SonaCare Medical, Boston Scientific Corporation, Neuwave Medical Inc., EDAP TMS S.A. Covidien Plc, Theranostic Treatment Services, Jubilant DraxImage, Cardinal Health Inc., GE Healthcare Bracco Imaging S.p.A., and Nordion Inc., among others. These key industry players are now focusing on mergers, partnerships, acquisitions, product developments, and collaboration strategies, in order to sustain their respective competitive edges.