Minimally Invasive Thoracic Surgery Market Growth & Trends
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.
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.
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Report Attribute Details Market size value in 2021 — USD 3.1 billion Revenue forecast in 2028 — USD 5.5 billion Growth Rate — CAGR of 8.7% from 2021 to 2028 Base year for estimation — 2020 Historical data — 2016–2019 Forecast period — 2021–2028
Minimally Invasive Thoracic Surgery Market Report Highlights
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
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