The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Thoracic Surgery Devices Global Market Report 2024, the thoracic surgery devices market is expected to show significant growth in the forecast period.

The thoracic surgery devices market has witnessed significant growth recently. In 2023, the market size was valued at $8.07 billion, and it is projected to reach $8.89 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 10.1%.

Key Growth Drivers in the Historic Period:

• Advancements in Surgical Techniques: Improved methods have increased precision and safety.
• Aging Population and Prevalence of Thoracic Diseases: More elderly individuals and a higher incidence of conditions affecting the thoracic cavity.
• Increasing Surgical Volume: A rise in the number of thoracic surgeries performed.
• Healthcare Infrastructure Development: Better facilities and resources support more procedures.
• Training and Education Initiatives: Enhanced professional training has improved surgical outcomes.

Projected Market Expansion

Looking ahead, the thoracic surgery devices market is expected to continue its strong growth trajectory. By 2028, the market is forecasted to reach $12.3 billion, with a CAGR of 8.5%.

Future Growth Drivers:

• Robotics and AI Integration: Enhanced precision and automation in surgeries.
• Patient-Centric Approaches: Focus on individual patient needs and outcomes.
• Customized Implant Solutions: Tailored implants for better patient compatibility.
• Telemedicine and Remote Surgery: Expanding access and convenience.
• Value-Based Healthcare Models: Emphasis on cost-effective and efficient care.

View More On The Thoracic Surgery Devices Market Report 2024 – https://www.thebusinessresearchcompany.com/report/thoracic-surgery-devices-global-market-report

Major Trends Shaping the Market:

• Global Collaboration in Healthcare: Cross-border partnerships and knowledge exchange.
• Technological Innovations in Medical Devices: Continued advancements in device technology.
• Advancements in Imaging Technology: Improved diagnostics and surgical planning.
• Rise in Ambulatory Surgical Centers (ASCs): More surgeries performed in outpatient settings.

Surge in Market Growth Due to Thoracic Diseases

The increasing prevalence of thoracic diseases significantly drives the market. These conditions, affecting organs within the thoracic cavity, require precise and effective surgical interventions.

Example: Chronic Obstructive Pulmonary Disease (COPD):

• Impact: In 2023, COPD accounted for 3.6% of the total disease burden in Australia, representing 50% of the burden attributable to respiratory conditions.
• Market Impact: The growing need for surgical solutions for such conditions propels market growth.

Leading Companies and Innovations

Several major companies dominate the thoracic surgery devices market, contributing to its growth through innovative products and strategic acquisitions.

Key Players:

• Cardinal Health
• Medtronic PLC
• Danaher Corporation
• Becton, Dickinson and Company
• Stryker Corporation
• Braun Melsungen AG
• Olympus Corporation
• Intuitive Surgical

Innovative Products:

• 3D-Printed Airway Stents:Developed by ETH Zurich, these stents provide customized and durable airway support, gradually dissolving after implantation. They are produced using digital light processing (DLP) and bioresorbable materials, eliminating the need for invasive removal procedures.

Strategic Acquisitions

Medtronic PLC’s Acquisition of Intersect ENT:

• Date:May 2022
• Objective:Expand Medtronic’s portfolio with Intersect ENT’s bioabsorbable steroid-eluting sinus implants.
• Outcome:Strengthens Medtronic’s position in providing innovative thoracic devices and therapies.

Market Segmentation

The thoracic surgery devices market is segmented based on product type, surgery type, and end-user.

By Product:

• Forceps, Graspers, Clamps and Staplers, Scissors, Spreaders, Needle Holders, Other Products

By Surgery Type:

• Lobectomy, Wedge Resection, Pneumonectomy, Other Surgery Types

By End-User:

• Hospitals, Ambulatory Surgical Centers, Other End-Users

Regional Insights

In 2023, North America emerged as the largest region in the thoracic surgery devices market, driven by advanced healthcare infrastructure and high prevalence of thoracic diseases.

Conclusion

The thoracic surgery devices market is experiencing rapid growth, fueled by advancements in technology, increasing disease prevalence, and strategic industry moves. As innovations continue and healthcare evolves, the market is set to expand further, offering enhanced surgical solutions and improved patient outcomes.

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