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The thoracic surgery market size is forecast to increase by USD 18.14 billion at a CAGR of 9.04% between 2023 and 2028. The market is witnessing significant growth due to the rising prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and lung cancer, which necessitate surgical interventions. Additionally, the emergence of telehealth and remote monitoring technologies is enabling early detection and diagnosis, leading to an increase in the number of thoracic surgeries. However, concerns associated with screening and diagnosis, including false positives and high costs, are major challenges for the market. Furthermore, the complexity of thoracic surgeries and the need for specialized medical expertise and advanced equipment add to the market's challenges. Despite these hurdles, the market is expected to grow steadily due to the increasing demand for minimally invasive procedures and the development of innovative surgical techniques.
The market is witnessing significant growth due to the increasing prevalence of heart and lung disorders in the aging population. Heart diseases, including redo heart surgery for coronary artery bypass grafting and valve replacements, continue to drive market growth. Additionally, the rise in the number of aortic surgeries for conditions such as aortic dissection is contributing to market expansion. The geriatric population's growing need for faster healing and shorter hospitalization periods is also fueling market development. Advancements in technology, such as MRI system for preoperative planning and energy-based devices for minimally invasive procedures, are improving patient outcomes and reducing complications like pneumonia, hemorrhage, and respiratory failure.
Furthermore, robotic-assisted surgery, forceps, staplers, and powered circular staplers are some of the essential instruments used in thoracic surgeries. Lung disorders, including COPD and lung cancer, are also contributing to market growth. Patient-centered care and postoperative care are becoming essential aspects of thoracic surgery, ensuring better patient outcomes and overall market expansion. However, complications like hemorrhage and respiratory failure remain challenges in the market.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The hospitals segment is estimated to witness significant growth during the forecast period. Thoracic surgery devices are in high demand in hospitals due to the increasing prevalence of cardiac disorders and respiratory diseases, particularly among the geriatric population. These conditions, which include heart diseases, aortic dissection, and aortic surgery, require complex procedures such as redo heart surgery, lobectomy, pneumonectomy, and lung cancer treatment. Hospitals are the primary consumers of thoracic surgery devices due to their ability to provide advanced technologies, extensive resources, and a multidisciplinary approach to patient care. The market is driven by several factors, including the growing number of private hospitals and clinics, the availability of specialized thoracic surgery packages, and the increasing incidence of respiratory diseases such as COPD and lung cancer.
Additionally, key players in the market are investing in building effective distribution networks with hospitals to expand their market reach. Advancements in thoracic surgery technology include the use of MRI, bio-absorbable stents, self-expandable stents, surgical sutures, staples, handheld surgical equipment, electrosurgical devices, forceps and spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, clamps, scissors, spreaders, and needle holders. These technologies enable faster healing and shorter hospitalization, reducing the risk of complications such as wound infection, pneumonia, and hemorrhage. Patient-centered care and postoperative care are also crucial aspects of the market, ensuring optimal patient outcomes and satisfaction. Overall, the thoracic surgery devices market is expected to grow significantly due to the increasing demand for advanced surgical procedures and the aging population.
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The hospitals segment accounted for USD 20.15 billion in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is witnessing significant growth due to the rising prevalence of respiratory failure caused by lung disorders. According to the American College of Allergy, Asthma & Immunology, approximately 8.3% of Americans had asthma in 2023, with 6.1 million being children and 20.4 million being adults. Thoracic surgery plays a crucial role in treating various chest-related conditions, including heart defects and cardiac assist. Energy-based devices and powered circular staplers are increasingly being used in thoracic surgery for procedures such as lung resection, esophagectomy, and gastric and colorectal surgery. The market is segmented into hospitals, clinics, and ambulatory surgery centers.
Moreover, North America dominates the market due to favorable reimbursement policies, high healthcare expenditure, and the growing prevalence of cardiovascular diseases and respiratory disorders. Cardiopulmonary devices and heart defect closure technologies are also driving market growth. Medical instruments used in thoracic surgery must adhere to stringent safety and efficacy standards.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising prevalence of respiratory diseases is the key driver of the market. The market is witnessing significant growth due to the increasing prevalence of heart and cardiac disorders, particularly in the geriatric population. Conditions such as aortic dissection, aortic surgery, and redo heart surgery require advanced surgical interventions. In addition, the rise in the number of patients suffering from lung diseases, including lung cancer, pneumonia, and COPD, is driving the demand for thoracic surgery procedures. Advancements in surgical technology, such as faster healing and shorter hospitalization, are making thoracic surgery more accessible and effective. Technological innovations include the use of MRI for better diagnosis, bio-absorbable stents and self-expandable stents for aortic surgery, and surgical sutures and staples for precise incisions.
Furthermore, handheld surgical equipment, electrosurgical devices, forceps and spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, clamps, scissors, spreaders, and needle holders are essential tools used in thoracic surgery. The focus on patient-centered care and postoperative care has led to the development of new instruments and techniques to minimize complications such as wound infection, pneumonia, and hemorrhage. The aging population is another significant factor fueling the growth of the market. With the increasing number of elderly individuals, the prevalence of heart diseases and respiratory disorders is expected to rise, leading to a higher demand for thoracic surgery procedures. Lobectomy and pneumonectomy are common thoracic surgeries used to remove damaged or diseased parts of the lungs. Overall, the market is expected to continue growing due to the increasing burden of cardiac and respiratory diseases and advancements in surgical technology.
Emergence of telehealth and remote monitoring is the upcoming trend in the market. Thoracic surgery encompasses the treatment of heart and lung disorders, including redo heart surgery for complex cardiac conditions, aortic dissection, and aortic surgery. The geriatric population, with an increased prevalence of cardiac disorders, is a significant focus in thoracic surgery. Advancements in technology have led to faster healing and shorter hospitalization, such as MRI for precise diagnosis, bio-absorbable stents, and self-expandable stents. Surgical equipment, including handheld surgical equipment, electrosurgical devices, forceps and spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, and clamps, facilitate efficient procedures. Lung cancer, COPD, and heart diseases are common thoracic conditions. The aging population necessitates patient-centered care and postoperative care, ensuring proper wound healing, and addressing complications like wound infection, pneumonia, and hemorrhage.
Furthermore, the COVID-19 pandemic has accelerated the adoption of telehealth services, enabling remote consultations, diagnosis, treatment, and monitoring for respiratory and cardiac patients, improving access to medical care and reducing the burden on healthcare facilities.
Concerns associated with screening and diagnosis of thoracic surgery is a key challenge affecting the market growth. Thoracic surgery encompasses the treatment of heart and lung disorders, including redo heart surgery for complex cases and aortic surgery for conditions such as aortic dissection. The geriatric population, with an increased prevalence of cardiac disorders, presents unique challenges in thoracic surgery, requiring faster healing and shorter hospitalization. Advanced technologies, like MRI, bio-absorbable stents, self-expandable stents, and surgical sutures, contribute to improved patient outcomes. Handheld surgical equipment, electrosurgical devices, forceps and spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, clamps, scissors, spreaders, and needle holders are essential tools in thoracic surgery. Lung cancer and COPD are common respiratory diseases requiring surgical intervention, with lobectomy and pneumonectomy being common procedures.
Furthermore, despite advancements, challenges persist in the diagnostic process for thoracic disorders. Screening errors and delayed diagnosis of conditions like lung cancer and aortic dissection pose significant risks to patient health. Pulmonary arterial hypertension (PAH) and heart diseases are particularly difficult to diagnose, often leading to late intervention. Ensuring accurate and timely diagnosis is crucial for initiating appropriate treatment and optimizing patient outcomes. Postoperative care, including wound infection, pneumonia, and hemorrhage, also requires meticulous attention for successful recovery.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories - The company offers thoracic surgery products such as Cardiac Rhythm Management catheters and CRT devices.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing prevalence of heart and lung disorders in the geriatric population. Thoracic surgeries, including aortic dissection and redo heart surgery, are commonly performed to treat cardiac disorders such as heart diseases and aortic surgery. The use of advanced technologies like MRI, bio-absorbable stents, self-expandable stents, surgical sutures, staples, handheld surgical equipment, electrosurgical devices, forceps and spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, and other auxiliary instruments are driving the market's growth. These technologies enable faster healing and shorter hospitalization, making thoracic surgeries less invasive and more patient-centered. Thoracic surgeries are used to treat various conditions, including lung cancer, COPD, and pneumonia.
However, the risk of complications such as wound infection, pneumonia, hemorrhage, and other postoperative care-related issues remains a concern. The market is expected to grow further due to the increasing demand for minimally invasive surgeries and the aging population. Some common thoracic surgical procedures include lobectomy, pneumonectomy, and the use of clamps, scissors, spreaders, and needle holders.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.04% |
Market growth 2024-2028 |
USD 18.14 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.33 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
Europe at 35% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, AbbVie Inc., Becton Dickinson and Co., Biosensors International Group Ltd., BioVentrix Inc., Boston Scientific Corp., Cardio Medical GmbH, Edwards Lifesciences Corp., GE Healthcare Technologies Inc., Intuitive Surgical Inc., Johnson and Johnson, LivaNova Plc, Medtronic Plc, Richard Wolf GmbH, and Teleflex Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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