Minimally Invasive Thoracic Surgery Market Insight and Trends 2030

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.

Download Exclusive Sample of Report@ https://www.visionresearchreports.com/report/sample/38997

Growth Factors

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.

Report Coverage

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.

Key Players

• Medtronic plc
• Cardio medical GmbH
• Intuitive Surgical
• Richard Wolf GmbH
• Grena Ltd.
• Dextera Surgical Inc.
• Teleflex Incorporated
• Medela Healthcare
• LivaNovaplc
• Sklar Surgical Instruments

Market Segmentation

• By Type
  • Lobectomy
  • Wedge Resection
  • Pneumonectomy
  • Others
• Regional
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
  • Asia Pacific
    • Japan
    • China
    • India
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa

Click Here to View Full Report Table of Contents

Buy this Research Report study@ https://www.visionresearchreports.com/report/cart/38997

Contact Us:

Vision Research Reports

Call: +1 9197 992 333

Email: sales@visionresearchreports.com