Global Thyroid Cartilage Market to Witness Stellar Revenue Growth Across Top Regional Pockets
A significant advancement in the minimally invasive surgery for thyroid cartilage implant will boost the thyroid cartilage market in the forecast period. Medialization laryngoplasty is the surgical treatment for the unilateral vocal fold paralysis. Thyroid cartilage graft is implanted in the medicalization laryngoplasty surgery. Thyroid cartilage surgery is usually done for undiagnosed thyroid nodule which is the most common condition among the patients. The thyroid cartilage is a butterfly-shaped gland at the front of the neck. Implants of different stiffness and medical surface are designed and inserted in human larynges at different insertions depth. The thyroid cartilage implantation minimizes the glottal gap and improves the voice of patients with vocal fold paralysis. Research on the improvement of the current treatment and availability of new procedures which takes less time and are safe will create huge opportunity in the near future for the thyroid cartilage market to grow. Development of biocompatible homologous or autologous grafts which are easily available, cost-effective and have lower rejection rates as compared to alloplastic implants will drive the overall market of thyroid cartilage in near future.
An increasing number of outpatient surgeries and benefits such as safe and low complication rate will significantly boost the market for thyroid cartilage in the forecast period. Innovation and improved anesthetic have better outcomes for the patients undergoing outpatient surgeries which drive the market of thyroid cartilage in the near future. Research & Development and cost-effective procedures of thyroid cartilage implants drive the market growth in the near future. Increasing complications related to implant surgery and lack of awareness hinder the growth of thyroid cartilage market.
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The global thyroid cartilage market is segmented on basis of Procedure Type, End User and Geography.
Segmentation by Procedure Type
Medialization of the vocal folds
Montgomery Thyroplasty Implant system
VoCoM system
TVFMI system
Gore-Tex Implant system
Lateralization of the vocal folds
Shortening of the vocal folds
Lengthening of the vocal folds
Segmentation by End User
Hospitals
Specialty Clinics
Ambulatory Surgical Centers
Segmentation by Geography
North America
Latin America
Europe
Asia-Pacific Excluding China
China
Middle East & Africa
Development of adjustable laryngeal implant which is made of titanium which is developed for the treatment of unilateral vocal fold paralysis which has many advantages such as precise medialization, ease of secondary adjustment, and perseveration of the mucosal wave will significantly grow the market of thyroid cartilage in the forecast period. On the basis of the end user, Ambulatory Surgical Centers accounts for the rapid growth in the forecast period owing to the increasing number of outpatient surgeries of the thyroid cartilage.
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The North America market for thyroid cartilage holds the largest revenue share, due to the increasing number of minimally invasive surgery for the thyroid cartilage implant and increasing awareness about the benefits of the procedure. Favorable reimbursement scenario and increasing research and development drive the market of thyroid cartilage in North America. Europe accounts for the second large revenue share in the global thyroid cartilage market, owing to the increasing prevalence of thyroid cancer and development of new implants the Asia Pacific is expected to witness rapid growth, due to increasing medical tourism and low cost associated with thyroid cartilage procedures in this region. China is expected to register significant growth, due to new innovative technology for the development of implants. Latin America and Middle East & Africa are projected to exhibit slow growth in thyroid cartilage Market, owing to lack of adoption and awareness in this region.
Examples of some of the key service provider present in the global thyroid cartilage market are Boston Medical Products, Inc., Teleflex Medical Europe Ltd., Kapitex Healthcare Ltd, among others.