The global Minimally Invasive Thoracic Surgery market size is expected to be worth around US$ 8.5 billion by 2030, according to a new report by Vision Research Reports.
The global Minimally Invasive Thoracic Surgery market size was valued at US$ 4.2 billion in 2020 and is anticipated to grow at a CAGR of 9.7% during forecast period 2021 to 2030.
|Market Size||US$ 8.5 billion by 2030|
|Growth Rate||CAGR of 9.7% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Medtronic plc; Cardio medical GmbH; Intuitive Surgical; Richard Wolf GmbH; Grena Ltd.; Dextera Surgical Inc.; Teleflex Incorporated; Medela Healthcare; LivaNovaplc; Sklar Surgical Instruments|
Minimally Invasive Surgery (MIS) is gaining popularity owing to the reduced risk and trauma associated with these procedures as small incisions decrease post-operative pain that facilitates a speedy recovery.
Increasing research and development in this field is another high-impact rendering driver of the market. The introduction of novel technologies and devices by the market players has been observed in recent years. In the U.S., lung cancer is the second leading cancer form. According to the American Cancer Society, about 235,760 new lung cancer cases are estimated in 2021. A high number of smokers in the U.S. is a leading cause of cancer prevalence in the region.
Smoking is also one of the major risk factors for lung cancer in developing countries. Nearly 80% of smokers live in middle and low-income countries. This makes developing countries a potential market for thoracic surgeries. Reduction in elective surgeries, concerns related to virus proliferation, and reduced hospital staffs are factors triggered by the Covid-19 outbreak in 2020. However, the market is said to improve by Q2 of 2022.
By Type Analysis
Lobectomy captured the largest revenue share of over 50.0% in 2020 as it is the most commonly used operation for treating lung cancer. According to a study published in the National Center for Biotechnology Information(NCBI), which was conducted by the Cancer Care Outcomes Research and Surveillance (CanCORS), about 1200 patients were diagnosed with non-small cell lung cancer (NSCLC), out of which 955 patients underwent surgery.
Around 524 patients opted for lobectomy, about 128 of them opted for pneumonectomy, and 209 patients had opted for wedge resection, segmentectomy, sleeve lobectomy, and laser excision. The minimally invasive lobectomy procedures were found to have a shorter median hospital length of stay, improved two-year survival, and increased 30-day readmission rate. Such benefits further help in the higher adoption of the technology, thereby fueling the market growth.
By Regional Analysis
North America dominated the market in 2020 with more than 45.0% share owing to the presence of favorable scenarios for technological advancements, which leads to the development of products that comply with the evolving patient needs, the availability of newly introduced devices, and the presence of skilled surgeons and organized regulatory and reimbursement bodies.
North America and Northern Europe show high estimated rates of lung cancer due to the high incidence rates of tobacco use. Thus, these areas are potential markets for minimally invasive surgeries due to the high prevalence, along with the availability of technologically advanced procedures, thus favoring the market growth.
Cardio medical GmbH
Richard Wolf GmbH
Dextera Surgical Inc.
Sklar Surgical Instruments
The Minimally Invasive Thoracic Surgery market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Minimally Invasive Thoracic Surgery market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Minimally Invasive Thoracic Surgery market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Minimally Invasive Thoracic Surgery market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Minimally Invasive Thoracic Surgery market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Minimally Invasive Thoracic Surgery capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Minimally Invasive Thoracic Surgery by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Minimally Invasive Thoracic Surgery market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Minimally Invasive Thoracic Surgery market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Minimally Invasive Thoracic Surgery market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Minimally Invasive Thoracic Surgery industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Minimally Invasive Thoracic Surgery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Minimally Invasive Thoracic Surgery market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Minimally Invasive Thoracic Surgery market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Minimally Invasive Thoracic Surgery market. These factors have benefited the growth of the global market for Minimally Invasive Thoracic Surgery. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Minimally Invasive Thoracic Surgery. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Minimally Invasive Thoracic Surgery are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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