Global Thoracic Surgery Market 2019-2023
Global Thoracic Surgery Market: About this market
Thoracic surgery is an operation performed for treating conditions of the chest organs, including the heart, lungs, esophagus, and trachea. Technavio’s thoracic surgery market analysis considers the revenues generated from products such as CRM and cardiac assist devices, heart valve repair and replacement devices, cardiopulmonary devices, heart defect closure devices, and other thoracic surgery devices. Our analysis also considers the sales of thoracic surgery in North America, Europe, Asia, and ROW. In 2018, the CRM and cardiac assist devices segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing prevalence of cardiac arrhythmia will play a significant role in the CRM and cardiac assist devices segment to maintain its market position. Our global thoracic surgery market report looks at factors such as the increasing prevalence of CVDs and lung diseases, growing awareness initiatives and access to healthcare, and technological advances and new product launches. However, the high cost of thoracic surgeries and devices, stringent regulations, and shortage of skilled thoracic surgeons may hamper the growth of the thoracic surgery industry over the forecast period.
Global thoracic surgery market: Overview
Technological advances and new product launches
The global thoracic surgery market is witnessing several technological advancements in both MI surgeries and open procedures. Technological advancements in endoscopy have led to the development of ultra-MI thoracic procedures, which can be performed on patients with the benign esophageal disease and early-stage esophageal cancer. Thus, significant advances in devices will fuel the demand for thoracic surgeries, thereby, driving the growth of the market at a CAGR of more than 9% during the forecast period.
Increasing number of thoracic surgeries
The demand for thoracic surgeries has increased significantly among patients with severe comorbid conditions. This is mainly due to technological advancements in thoracic surgery devices along with improved experience and confidence of surgeons to operate on high-risk individuals. Furthermore, the increase recommendations by health organizations promoting the use of these devices are also propelling the demand for thoracic surgery. Thus, the increasing number of thoracic surgeries is identified as a key trend that will impact the growth of the market during the forecast period.
For the detailed list of factors that will drive the global thoracic surgery market during the forecast period 2019-2023, click here.
With the presence of few major players, the global thoracic surgery market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading thoracic surgery providers, that include Abbott Laboratories, Boston Scientific Corp., Edwards Lifesciences Corp., LivaNova Plc, and Medtronic Plc.
Also, the thoracic surgery market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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