South Korea Thyroid Ablation Devices Market Size & Outlook
South Korea thyroid ablation devices market, 2018-2030 (US$M)
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South Korea thyroid ablation devices market highlights
- The South Korea thyroid ablation devices market generated a revenue of USD 3.0 million in 2023 and is expected to reach USD 6.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 10.7% from 2024 to 2030.
- In terms of segment, radiofrequency ablation was the largest revenue generating type in 2023.
- Microwave Ablation is the most lucrative type segment registering the fastest growth during the forecast period.
Thyroid ablation devices market data book summary
| Market revenue in 2023 | USD 3.0 million |
| Market revenue in 2030 | USD 6.1 million |
| Growth rate | 10.7% (CAGR from 2023 to 2030) |
| Largest segment | Radiofrequency ablation |
| Fastest growing segment | Microwave Ablation |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Radiofrequency Ablation, Microwave Ablation |
| Key market players worldwide | Boston Scientific Corp, BVM Medical, Integra Lifesciences Holdings Corp, Johnson & Johnson, Medtronic PLC, Olympus Corp, Terumo Corp, Theraclion, Medwave, StarMed |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.8% of the global thyroid ablation devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China thyroid ablation devices market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 5.2 million by 2030.
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Thyroid Ablation Devices Market Scope
Thyroid Ablation Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea thyroid ablation devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to thyroid ablation devices market will help companies and investors design strategic landscapes.
Radiofrequency ablation was the largest segment with a revenue share of 50% in 2023. Horizon Databook has segmented the South Korea thyroid ablation devices market based on radiofrequency ablation, microwave ablation covering the revenue growth of each sub-segment from 2018 to 2030.
Thyroid RFA is considered the best treatment option for thyroid nodules; it focuses on removing the nodule without impairing the thyroid gland. The procedure has gained popularity in the country as an alternative to thyroidectomy.
The adoption of RFA has witnessed a slow growth in the U.S. as insurance companies do not cover the procedure, which makes it too costly for patients. While the treatment procedure is cheaper in South Korea, insurance coverage is a main factor in the affordability of treatment.
Thus, this could be one of the factors driving the country’s market. Furthermore, rising awareness about ablation procedures over conventional surgical and therapeutic procedures is predicted to foster market growth.
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Our clientele includes a mix of thyroid ablation devices market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea thyroid ablation devices market , including forecasts for subscribers. This country databook contains high-level insights into South Korea thyroid ablation devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea thyroid ablation devices market size, by type, 2018-2030 (US$M)
South Korea Thyroid Ablation Devices Market Outlook Share, 2023 & 2030 (US$M)
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