Minimally Invasive Thoracic Surgery Market Trends [2031]
Minimally Invasive Thoracic Surgery Market Trends [2031]
Segments - Minimally Invasive Thoracic Surgery Market by Type (Lobectomy, Wedge Resection, Pneumonectomy, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Upcoming
| Report ID :HC-5943
| 4.8 Rating
| 64 Reviews
| 164 Pages
| Format :
Report Description
Minimally Invasive Thoracic Surgery Market Outlook 2031
The global minimally invasive thoracic surgery market size was USD 5 Billion in 2022 and is likely to reach USD 8.6 Billion by 2031, expanding at a CAGR of 9.5% during 2023–2031. The market growth is attributed to the growing prevalence of chronic thoracic illnesses such as lung cancer.
Rising prevalence of unhealthy habits such as smoking and drinking have resulted in the spread of chronic thoracic illnesses such as throat and lung cancers. Growing prevalence of adverse effects of smoking and the continuous rise in air pollution led to proliferation of lung cancer across the globe. It has grown to become the second most common form of cancer. Hence, increasing efforts are being made to combat and overcome this chronic illness. It has led to several medical advancements in this area of research, thereby boosting the market. For instance,
-
According to a report published by the National Institutes of Health in August 2021, a majority of thoracic surgeries, including complex surgeries, were performed with the help of minimally invasive surgeries, due to the advances in medical technologies and surgical techniques.
The COVID-19 pandemic hindered the market considerably, owing to the lack of access to healthcare during the pandemic. The implementation of nationwide lockdowns, in an effort to contain this disease, limited access to basic healthcare, which hampered the market significantly. Additionally, there was an increasing focus on plans to overcome the infection. A large number of skilled medical professionals were required to successfully carry out these plans. This hampered the availability of personnel in other fields of research in the market. For instance,
-
According to a report published by the National Institutes of Health in June 2020, thoracic surgeries decreased by 50-60% during the first wave of the pandemic.
Impact of Artificial Intelligence (AI) in Minimally Invasive Thoracic Surgery Market
The use of Artificial Intelligence (AI) is projected to boost the market in the coming years. AI robots are used to perform difficult surgeries that are extremely complicated to be performed by humans. These robots are expected to boost the success rates of these surgeries considerably in the coming years.
AI and machine learning are used to automate, minimally invasive uncomplicated procedures. According to a January 2022 article published by the National Library of Medicine, computer vision is a form of AI that analyzes images and videos to perform automated procedures for minimally invasive surgeries.
Minimally Invasive Thoracic Surgery Market Dynamics
Drivers
Increasing advancement of medical procedures is projected to boost the market considerably during the projected period. Increasing funds allocated towards medical research and development has resulted in the development of several patient-centric, minimally invasive procedures that enable the market growth. For instance,
-
According to a report by the National Institute of Health published in August 2021, minimally invasive surgeries are relatively less complex and painful. They also require a shorter healing time as compared to more invasive surgeries. Additionally, it allows surgeons to perform complex surgeries with a minimal number of incisions.
Restraints
High costs associated with minimally invasive thoracic surgical procedures hamper the market. It makes the procedures inaccessible to majority of the people across the globe. This is especially prevalent in underdeveloped and developing regions globally. Additionally, the lack of funding allocated towards medical research and development in low-income regions pose a major hindrance to the market.
Emerging Opportunities
Growing usage of robotics and Virtual Reality (VR) in minimally invasive procedures is projected to boost the market during the forecast period. Increasing demand for robotics and virtual reality in minimally invasive procedures is expected to create lucrative opportunities for the market players. Robots are already trained to perform certain forms of minimally invasive procedures, whereas others are performed by skilled surgeons with the help of robotic arms and VR. Miniature motors and instruments designed by microengineering are expected to take over the market in the coming years.
Scope of the Minimally Invasive Thoracic Surgery Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Minimally Invasive Thoracic Surgery Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2022 |
|
Historic Data |
2020–2021 |
|
Forecast Period |
2023–2031 |
|
Segmentation |
Type (Lobectomy, Wedge Resection, Pneumonectomy, and Others) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
B. Braun SE; Cardio Medical GmbH.; Cook Group; Dextera Surgical Inc.; Intuitive Surgical.; LivaNova PLC; Medtronic; Richard Wolf GmbH.; Sklar Surgical Instruments.; and Teleflex Incorporated. |
Market Segment Insights
Segment Analysis
Based on type, the minimally invasive thoracic surgery market is divided into lobectomy, wedge resection, pneumonectomy, and others. The lobectomy segment is expected to expand at a significant growth rate during the projection period, owing to the high success rate of this procedure. Additionally, minimally invasive lobectomies have a much shorter healing period and are significantly less painful as compared to other procedures. These factors contribute to the predominance of this segment.
-
According to a study conducted by Duke University in March 2023, less intensive surgeries are fairly effective in treating the majority of the common types of lung cancers. The 5-year survival rate after a less-invasive lobectomy was 78.9%.
The wedge resection segment is projected to have considerable CAGR growth over the forecast period, owing to the simplicity of the procedure. The wedge resection is the most minimally invasive of all thoracic procedures and is used to treat early-stage lung cancers. However, it is ineffective in treating advanced-stage cancers. The detection of cancer has become fast and increasingly accurate, due to the rise of DNA-based technology, thus reducing the probability of cancers proceeding to the advanced stage. These factors are expected to propel the segment over the coming years.
Regional Outlook
In terms of region, the global minimally invasive thoracic surgery market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, owing to the availability of advanced medical infrastructure. The availability of complex and minimally invasive procedures, as a result of access to adequate healthcare, is a major driver of the North America market. Additionally, the increasing prevalence of lung cancer, as a result of smoking, is projected to propel the market. According to a report published by the American Cancer Society in 2023, approximately 238,340 cases of lung cancer are reported each year out of which 127,070 are fatal.
The market in Asia Pacific is projected to register a considerable CAGR during the forecast period, owing to the increasing prevalence of lung cancer and other thoracic illnesses. The growth of cancer in Asia Pacific has led to an increased focus on the treatment of this illness. There is an increase in the amount of funding dedicated to creating advanced, minimally invasive procedures for the treatment of this illness. This factor is projected to boost the market in the coming years.
Segments
The minimally invasive thoracic surgery market has been segmented on the basis of
Type
- Lobectomy
- Wedge Resection
- Pneumonectomy
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- B. Braun SE
- Cardio Medical GmbH Industriestr.
- Cook Group
- Dextera Surgical Inc.
- Intuitive Surgical.
- LivaNova PLC
- Medtronic
- Richard Wolf GmbH.
- Sklar Surgical Instruments.
- Teleflex Incorporated
Competitive Landscape
Key players competing in the global minimally invasive thoracic surgery market are Cardio Medical GmbH.; Intuitive Surgical.; LivaNova PLC; Medtronic; Richard Wolf GmbH.; Sklar Surgical Instruments.; and Teleflex Incorporated.
These key players adopt various strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to grow their customer base globally.
-
In May 2023, B. Braun SE announced the launch of their new device, known as laparoscopic AESCULAP EinsteinVision. This device enables real time 3D Fluorescence Imaging in 3 different overlay modes.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Minimally Invasive Thoracic Surgery Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Minimally Invasive Thoracic Surgery Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Minimally Invasive Thoracic Surgery Market - Supply Chain
4.5. Global Minimally Invasive Thoracic Surgery Market Forecast
4.5.1. Minimally Invasive Thoracic Surgery Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Minimally Invasive Thoracic Surgery Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Minimally Invasive Thoracic Surgery Market Absolute $ Opportunity
5. Global Minimally Invasive Thoracic Surgery Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Types
5.3.1. Lobectomy
5.3.2. Wedge Resection
5.3.3. Pneumonectomy
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Minimally Invasive Thoracic Surgery Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Minimally Invasive Thoracic Surgery Demand Share Forecast, 2019-2026
7. North America Minimally Invasive Thoracic Surgery Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Types
7.4.1. Lobectomy
7.4.2. Wedge Resection
7.4.3. Pneumonectomy
7.4.4. Others
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Minimally Invasive Thoracic Surgery Demand Share Forecast, 2019-2026
8. Latin America Minimally Invasive Thoracic Surgery Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Types
8.4.1. Lobectomy
8.4.2. Wedge Resection
8.4.3. Pneumonectomy
8.4.4. Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Minimally Invasive Thoracic Surgery Demand Share Forecast, 2019-2026
9. Europe Minimally Invasive Thoracic Surgery Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Types
9.4.1. Lobectomy
9.4.2. Wedge Resection
9.4.3. Pneumonectomy
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Minimally Invasive Thoracic Surgery Demand Share Forecast, 2019-2026
10. Asia Pacific Minimally Invasive Thoracic Surgery Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Types
10.4.1. Lobectomy
10.4.2. Wedge Resection
10.4.3. Pneumonectomy
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Minimally Invasive Thoracic Surgery Demand Share Forecast, 2019-2026
11. Middle East & Africa Minimally Invasive Thoracic Surgery Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Minimally Invasive Thoracic Surgery Market Size and Volume Forecast by Types
11.4.1. Lobectomy
11.4.2. Wedge Resection
11.4.3. Pneumonectomy
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Minimally Invasive Thoracic Surgery Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Minimally Invasive Thoracic Surgery Market: Market Share Analysis
12.2. Minimally Invasive Thoracic Surgery Distributors and Customers
12.3. Minimally Invasive Thoracic Surgery Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. B. Braun SE
12.4.2. Cardio Medical GmbH Industriestr.
12.4.3. Cook Group
12.4.4. Dextera Surgical Inc.
12.4.5. Intuitive Surgical.
12.4.6. LivaNova PLC
12.4.7. Medtronic
12.4.8. Richard Wolf GmbH.
12.4.9. Sklar Surgical Instruments.
12.4.10. Teleflex Incorporated
Methodology
Related Reports
Some other reports from this category!
Our Clients
