SAN FRANCISCO, Dec. 6, 2021 /PRNewswire/ -- San Francisco, Dec 06, 2021 - The global minimally invasive thoracic surgery market size is expected to reach USD 5.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.7% from 2021 to 2028. 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.
Key Insights & Findings from the report:
- By type, lobectomy dominated the market in 2020. Lobectomy procedure involves the removal of an entire lobe of the lung in cases of stage one non-small cell lung cancer (NSCLC). It is preferred over the limited resections as a large portion is removed, thereby decreasing the risk of recurrence in the local area
- There is a trend of increasing the adoption of minimally invasive techniques in other types of thoracic surgeries, such as sleeve lobectomy, segmentectomy, and thoracic sympathectomy. Technological advancements such as better imaging technology through improved optics for video thoracoscopes are fueling the growth
- North America held the largest revenue share in 2020 and is expected to maintain its position during the forecast period. This is on account of the high prevalence of the target disorder, high smoking traits in the population, and significant funding involved in the research involving solutions to lung cancer
- The availability of technologically advanced surgical methods with better surgeon expertise is expected to fuel the market growth in North America
- Asia Pacific is expected to witness the fastest growth in the coming years due to the rapid adoption of technology and growing awareness regarding the target disorders
Read 81 page market research report, " Minimally Invasive Thoracic Surgery Market Size, Share & Trends Analysis Report By Type (Lobectomy, Wedge Resection, Pneumonectomy), By Region (North America, Europe, APAC, LATAM, MEA), And Segment Forecasts, 2021 - 2028 ", by Grand View Research
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.
Grand View Research has segmented the global minimally invasive thoracic surgery market by type and region:
- Minimally Invasive Thoracic Surgery Type Outlook (Revenue, USD Million, 2016 - 2028)
- Wedge Resection
- Minimally Invasive Thoracic Surgery Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
List of Key Players of Minimally Invasive Thoracic Surgery Market
- Medtronic plc
- Cardio medical GmbH
- Intuitive Surgical
- Richard Wolf GmbH
- Grena Ltd.
- Dextera Surgical Inc.
- Teleflex Incorporated
- Medela Healthcare
- Sklar Surgical Instruments
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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