Thoracic Surgery Devices Market is valued at USD 6.75 Billion in 2020 and expected to reach USD 12.59 Billion by 2027 with the CAGR of 9.30% over the forecast period.
Global Thoracic Surgery Devices Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027-Increasing technological innovations and adoption of advanced technologies for surgical methods are driving the Global Thoracic Surgery Devices Market.
Most of the thoracic surgery involves surgery for some sort of cancer which mainly includes tumors as lung cancer (which kills more people in the United States than colon, prostate and breast cancer combined), esophageal cancer, tumors of the chest wall and tumors of the mediastinum, or the space around the heart. And most of the thoracic surgeries are is now done minimally invasively by using small incisions, a thin camera and high definition monitors which is called as video-assisted thorascopic surgery or (VATS). Thoracic surgical instruments are used in procedures that treat the areas of the lungs, heart, esophagus, and other organs within the chest. Major devices used for in the thoracic surgery are such as; thoracic surgical procedures include clamps and forceps, graspers, needle holders, chest and sternum spreaders, retractors, and scissors.
Global Thoracic Surgery Devices market report is segmented on the basis of device product, end-user and region & country level. Based upon product, thoracic surgery devices market is divided into CRM & cardiac assist, heart valve repair & replacement, heart defect closure, cardiopulmonary devices, others. Based upon end-user, the market is divided into hospitals, clinics, ambulatory surgery centers, others.
The regions covered in this global Thoracic Surgery Devices report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Thoracic Surgery Devices is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Thoracic Surgery Devices report covers prominent player’s Medical Devices Business Services, Inc., Olympus Corporation, KLS Martin Group, B. Braun Melsungen AG, Medtronic, OmniGuide Holdings, Inc., Biolitec AG, Intuitive Surgical, Scanlan International, Getinge AB and others.
September 25th, 2019; Ethicon, part of the Johnson & Johnson Medical Devices Companies announced the launch of the ECHELON CIRCULAR Powered Stapler the new powered circular stapler which utilizes an innovative Gripping Surface and 3D Stapling Technologies. It is available across Europe, the Middle East and Africa and will be commercially launched at the European Society of Coloproctology's (ESCP) 14th Annual Meeting in Vienna, 25-27 September 2019.
Increasing volume of patients suffering from cardiovascular diseases along with lung disorders and growing geriatric population are the major factors of driving the market growth. For example; according to world health organization approximately 17.9 million people died from cardiovascular diseases in 2016, representing 31% of all global deaths. Of these deaths, 85% are due to heart attack and stroke. Additionally, rising demand of minimally invasive procedures and increase spending per capita income are also expected to foster the market growth within the forecast period. However, lack of skilled professionals may hamper the market growth. In spite of that, increasing technological advancements in this field can create number of opportunities for the further growth of the market.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 6.75 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||9.30 %|
|Market Size Expected in 2027:||USD 12.59 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Olympus Corporation, KLS Martin Group, B. Braun Melsungen AG, Medtronic, OmniGuide Holdings, Inc., Biolitec AG, Intuitive Surgical, Scanlan International, Getinge AB and others|
|Segments Covered||By Product, By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
North America is expected to dominate the global thoracic surgery devices market within the forecast period due to the increasing investment in healthcare expenditure and growing use of technological advanced devices in hospitals in this region. Additionally, increasing cardiovascular diseases and lung cancer cases are also supplementing the market growth in this region. For example; according to American cancer society Lung cancer; the leading cause of cancer death among both men and women, making up almost 25% of all cancer deaths. Approximately, 228,820 new cases of lung cancer occurred at the end of 2020 in United States. Asia Pacific is exoected to witness a significant growth in the global thoracic surgery device market due to the increasing population, changing lifestyle, increasing awareness about thoracic surgery in this region. Additionally, increasing expenditure on healthcare and growing geriatric population are also boosting the thoracic surgery devices market in this region.