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Thoracic Surgery Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, France, China, Japan - Size and Forecast 2024-2028

Thoracic Surgery Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, France, China, Japan - Size and Forecast 2024-2028

Published: Nov 2023 163 Pages SKU: IRTNTR76770

Market Overview at a Glance

$18.14 B
Market Opportunity
9.04%
CAGR
8.33
YoY growth 2023-2024(%)

Thoracic Surgery Market Size 2024-2028 

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 experiencing significant growth due to several key factors. The rising prevalence of respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and lung cancer, is driving the demand for thoracic surgical procedures. Furthermore, the emergence of telehealth and remote monitoring technologies is enabling early detection and diagnosis, leading to increased intervention rates. However, concerns associated with screening and diagnosis, including false positives and high costs, remain challenges for the market. In addition, the use of minimally invasive surgical techniques and advancements in robotic surgery are expected to provide opportunities for market growth. Overall, the market is poised for expansion as technological advancements meet the growing demand for effective respiratory disease treatment and diagnosis.

    • What will be the Size of the Thoracic Surgery Market During the Forecast Period?

    Thoracic Surgery Market Size

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  • The market encompasses procedures focused on the heart, lungs, and associated structures. Key drivers include the increasing prevalence of cardiac disorders such as aortic dissection and redo heart surgery, as well as lung conditions like lung cancer, COPD, and pneumonia. The aging population's increased susceptibility to heart diseases and respiratory failures further fuels market growth. Technological advancements in thoracic surgery, including robotic-assisted procedures, energy-based devices, and minimally invasive techniques, contribute to faster healing and shorter hospitalization stays. Patient-centered care, with a focus on individualized treatment plans, is a growing trend. Advanced instruments like forceps, staplers, and powered circular staplers facilitate precise surgical procedures, reducing the risk of complications such as hemorrhage and respiratory failure.
  • MRI and CT scans aid in accurate diagnosis and treatment planning. Overall, the market continues to evolve, driven by the need to address the growing burden of heart and lung disorders.

    • How is this Thoracic Surgery Industry segmented and which is the largest segment?

    The thoracic surgery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • End-user
      • Hospitals
      • Ambulatory surgical centers
      • Specialty clinics
    • Product
      • CRM and cardiac assist devices
      • Heart valve repair and replacement devices
      • Cardiopulmonary devices
      • Heart defect closure devices
      • Other thoracic surgery devices
    • Geography
      • North America
        • US
      • Europe
        • Germany
        • France
      • Asia
        • China
        • Japan
      • Rest of World (ROW)

      By End-user Insights

      • The hospitals segment is estimated to witness significant growth during the forecast period.

      Thoracic surgery devices are primarily utilized in hospitals, accounting for a significant market share due to the complex nature of thoracic conditions, such as advanced cardiovascular diseases and late-stage lung cancer, which necessitate extensive resources, sophisticated technologies, and a multidisciplinary approach. The expansion of private hospitals and clinics, the provision of specialized thoracic surgery packages, and the rising incidence of respiratory disorders are key market growth drivers. Moreover, key players invest in establishing robust distribution networks with hospitals to boost market presence. The thoracic surgery devices market encompasses a range of instruments, including MRI-compatible devices, 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 various lung cancer-related surgical tools.

      Common procedures include lobectomy, pneumonectomy, and esophagectomy, with potential complications including wound infection, pneumonia, hemorrhage, respiratory failure, and the use of energy-based devices for lung disorders.

      Thoracic Surgery Market Size

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      The Hospitals segment was valued at USD 20.15 billion in 2018 and showed a gradual increase during the forecast period.

      Regional Analysis

      • 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.

      Thoracic Surgery Market Share by Geography

      For more insights on the market share of various regions, Request Free Sample

      The North American market represents a significant share In the market in 2023. Factors such as favorable reimbursement policies, high healthcare expenditure, and the increasing prevalence of cardiac and respiratory disorders contribute to this dominance. According to the American College of Allergy, Asthma & Immunology, approximately 8.3% of Americans have asthma, with 20.4 million adults and 6.1 million children affected. Thoracic surgeries, including heart, lung, and redo heart surgeries for cardiac disorders, and aortic surgery for aortic dissection, are common procedures. Thoracic surgeries also address lung disorders like lung cancer and COPD. The geriatric population, with its increased susceptibility to cardiac and respiratory diseases, further fuels market growth.

      Advancements in medical instruments, such as 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, facilitate faster healing and shorter hospitalization. Energy-based devices and minimally invasive procedures are also gaining popularity. Postoperative care, patient-centered care, and the adoption of cardiopulmonary devices and chest drains are essential aspects of thoracic surgery.

      Market Dynamics

      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.

      What are the key market drivers leading to the rise In the adoption of Thoracic Surgery Industry?

      Rising prevalence of respiratory diseases is the key driver of the market.

    • The market In the US has witnessed significant growth due to the increasing prevalence of heart diseases and lung disorders among the geriatric population. Thoracic surgery involves the treatment of various cardiac and respiratory conditions, including heart diseases such as aortic dissection and redo heart surgery, and lung disorders like lung cancer, COPD, and pneumonia. The market is driven by the development of advanced surgical tools and techniques, such as 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 energy-based devices. These innovations have led to faster healing and shorter hospitalization, improving patient-centered care and postoperative care.
    • Conditions like wound infection, hemorrhage, respiratory failure, and pneumonia continue to challenge the industry, necessitating ongoing research and development. The market includes various players, offering a range of medical instruments designed for thoracic surgery, including those for the chest, esophagus, and cardiopulmonary devices. Hospitals, clinics, and ambulatory surgery centers are key end-users, driving the demand for these advanced medical instruments.

      • What are the market trends shaping the Thoracic Surgery Industry?

      Emergence of telehealth and remote monitoring is the upcoming market trend.

    • Thoracic surgery encompasses the treatment of heart and lung conditions, including redo heart surgery for complex cardiac disorders such as aortic dissection and aortic surgery. The geriatric population, with its increased prevalence of heart diseases, lung cancer, COPD, and other thoracic conditions, significantly contributes to the market's growth. Faster healing and shorter hospitalization periods are achieved through advanced surgical techniques and medical instruments 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 various clamps, scissors, spreaders, and needle holders. Lung cancer, COPD, and other lung disorders are major indications for thoracic surgery.
    • Energy-based devices, such as the powered circular stapler, are increasingly used in gastric and colorectal surgery, as well as thoracic surgery. Postoperative care is crucial, with attention given to preventing complications like wound infection, pneumonia, hemorrhage, respiratory failure, and other potential risks. Telehealth and remote monitoring are transforming thoracic surgery, enabling remote consultations, diagnosis, and treatment, and reducing the burden on hospitals and clinics.

      • What challenges does the Thoracic Surgery Industry face during its growth?

      Concerns associated with screening and diagnosis of thoracic surgery is a key challenge affecting the industry growth.

    • Thoracic surgery encompasses the treatment of heart and lung disorders, including redo heart surgery for complex cardiac conditions such as aortic dissection and aortic surgery. The geriatric population is a significant focus due to the higher prevalence of cardiac and lung diseases. Faster healing and shorter hospitalization are essential for this demographic, making advancements in medical instruments crucial. MRI, bio-absorbable stents, self-expandable stents, surgical sutures, staples, and handheld surgical equipment are among the tools utilized in thoracic surgery. Electrosurgical devices, forceps and spatulas, retractors, dilators, graspers, auxiliary instruments, cutter instruments, and lung cancer treatment instruments like lobectomy and pneumonectomy are also integral.
    • Lung disorders, including COPD and heart diseases, are prevalent In the aging population, necessitating patient-centered care and postoperative care. Complications such as wound infection, pneumonia, hemorrhage, respiratory failure, and energy-based devices are concerns in thoracic surgery. Other procedures, like gastric and colorectal surgery, may also involve thoracic interventions. Cardiac assist and heart defect closure devices, as well as cardiopulmonary devices, are essential in hospitals, clinics, and ambulatory surgery centers. Medical instruments, such as clamps, scissors, spreaders, and needle holders, are vital for various thoracic procedures.

      • Exclusive Customer Landscape

      The thoracic surgery 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 thoracic surgery market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

      Thoracic Surgery Market Share by Geography

       Customer Landscape

      Key Companies & Market Insights

      Companies are implementing various strategies, such as strategic alliances, thoracic surgery market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

      Abbott Laboratories - Thoracic surgery involves the treatment of various conditions affecting the chest and lungs, including heart diseases. The market for thoracic surgery products encompasses a range of innovative solutions. Among these, Cardiac Rhythm Management (CRM) catheters and CRT devices play significant roles. CRM catheters are instrumental in diagnosing and treating cardiac arrhythmias, while CRT devices help restore synchronous contractions of the heart chambers, improving heart function. These advanced technologies contribute to enhanced patient outcomes and improved quality of life. The thriving the market reflects the growing demand for advanced medical solutions to address complex cardiac and thoracic conditions.

      The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

      • 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
      • Teleflex Inc.

      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 industry 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.

      Research Analyst Overview

      Thoracic surgery refers to a specialized branch of medicine that deals with the surgical treatment of disorders related to the chest and lungs. This complex field encompasses a wide range of procedures, from the removal of tumors and repair of cardiac defects to the treatment of respiratory conditions and lung resections. The market is driven by several factors, including the increasing prevalence of cardiac and lung disorders, an aging population, and advancements in surgical techniques and technologies. The geriatric population is particularly vulnerable to thoracic conditions, as age increases the risk of developing heart diseases, lung disorders, and other related conditions.

      Patient-centered care and postoperative care are critical aspects of thoracic surgery. Faster healing and shorter hospitalization are key priorities for both patients and healthcare providers, leading to a growing demand for advanced surgical instruments and technologies. These include energy-based devices, self-expandable stents, and bio-absorbable stents, among others. Surgical instruments play a crucial role in thoracic surgery. Handheld surgical equipment, such as forceps, spatulas, and retractors, are essential for accessing and manipulating the surgical site. Dilators, graspers, and auxiliary instruments are used to facilitate the procedure and improve surgical outcomes. Cutter instruments and scissors are used for cutting and separating tissues, while clamps and spreaders are used for controlling bleeding and maintaining tissue separation.

      Thoracic surgery also involves the use of advanced cardiopulmonary devices, such as heart defect closure systems and cardiac assist devices. These technologies help to minimize invasiveness, reduce the risk of complications, and improve patient outcomes. The market is diverse and complex, with a wide range of applications and procedures. Lung cancer and COPD are common indications for thoracic surgery, with procedures such as lobectomy and pneumonectomy used to remove affected lung tissue. Other procedures include the treatment of conditions such as aortic dissection and aortic surgery, as well as redo heart surgery for patients with recurring cardiac issues.

      Despite the advances in thoracic surgery, complications such as wound infection, pneumonia, hemorrhage, and respiratory failure remain a concern. Ongoing research and development efforts are focused on reducing the risk of these complications and improving patient outcomes through the use of advanced technologies and techniques. In conclusion, the market is driven by the increasing prevalence of cardiac and lung disorders, an aging population, and advancements in surgical techniques and technologies. Patient-centered care and postoperative care are critical priorities, and surgical instruments and advanced cardiopulmonary devices play a crucial role in minimizing invasiveness, reducing complications, and improving patient outcomes.

      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 18136.38 million

      Market structure

      Fragmented

      YoY growth 2023-2024(%)

      8.33

      Key countries

      US, Germany, France, China, and Japan

      Competitive landscape

      Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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      What are the Key Data Covered in this Thoracic Surgery Market Research and Growth Report?

      • CAGR of the Thoracic Surgery industry during the forecast period
      • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
      • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
      • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
      • Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
      • Thorough analysis of the market’s competitive landscape and detailed information about companies
      • Comprehensive analysis of factors that will challenge the thoracic surgery market growth of industry companies

      We can help! Our analysts can customize this thoracic surgery market research report to meet your requirements.

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      Table of Contents not available.

      Research Methodology

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      INFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases

      DATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts

      REPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape

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      Frequently Asked Questions

      Thoracic Surgery market growth will increase by $ 18136.38 mn during 2024-2028.

      The Thoracic Surgery market is expected to grow at a CAGR of 9.04% during 2024-2028.

      Thoracic Surgery market is segmented by End-user( Hospitals, Ambulatory surgical centers, Specialty clinics) Product( CRM and cardiac assist devices, Heart valve repair and replacement devices, Cardiopulmonary devices, Heart defect closure devices, Other thoracic surgery devices)

      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, Teleflex Inc. are a few of the key vendors in the Thoracic Surgery market.

      Europe will register the highest growth rate of 35% among the other regions. Therefore, the Thoracic Surgery market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.

      US, Germany, France, China, Japan

      • Rising prevalence of respiratory diseasesThe rising prevalence of respiratory diseases has significantly contributed to the growth of the global thoracic surgery market. Conditions such as asthma and chronic obstructive pulmonary disease (COPD) affect millions of people worldwide is the driving factor this market.
      • creating a strong demand for innovative solutions that can improve disease management and enhance patients quality of life. Respiratory diseases encompass a range of conditions affecting the lungs and airways is the driving factor this market.
      • such as chronic obstructive pulmonary disease (COPD) is the driving factor this market.
      • asthma is the driving factor this market.
      • pneumonia is the driving factor this market.
      • and bronchitis. Poor air quality is the driving factor this market.
      • often due to environmental pollution is the driving factor this market.
      • increases the risk of respiratory diseases. Exposure to pollutants such as fine particulate matter and airborne toxins can worsen existing conditions or trigger new cases. Rapid urbanization can lead to increased exposure to pollutants is the driving factor this market.
      • allergens is the driving factor this market.
      • and irritants is the driving factor this market.
      • contributing to respiratory disease prevalence in densely populated areas. Moreover is the driving factor this market.
      • sedentary lifestyles is the driving factor this market.
      • unhealthy diets is the driving factor this market.
      • and lack of exercise lead to obesity and metabolic issues that exacerbate respiratory diseases. Moreover is the driving factor this market.
      • certain occupations expose workers to respiratory hazards is the driving factor this market.
      • such as dust is the driving factor this market.
      • chemicals is the driving factor this market.
      • and fumes is the driving factor this market.
      • increasing the risk of developing lung conditions. Thus is the driving factor this market.
      • the rising prevalence of respiratory diseases will boost the growth of the global thoracic surgery market during the forecast period. is the driving factor this market.

      The Thoracic Surgery market vendors should focus on grabbing business opportunities from the Hospitals segment as it accounted for the largest market share in the base year.