Thoracic Surgery Market Overview:
As per MRFR analysis, the Thoracic Surgery Market Size was estimated at 15.59 (USD Billion) in 2022.
The Thoracic Surgery Market Industry is expected to grow from 16.36(USD Billion) in 2023 to 25.2 (USD Billion) by 2032. The Thoracic Surgery Market CAGR (growth rate) is expected to be around 4.92% during the forecast period (2024 - 2032).
Key Thoracic Surgery Market Trends Highlighted
The Thoracic Surgery Market is witnessing significant advancements, driven by factors such as technological advancements, rising prevalence of thoracic diseases and increasing healthcare awareness. Key market drivers include the adoption of minimally invasive techniques, such as video-assisted thoracoscopic surgery (VATS) and robotic surgery, which offer precision and reduced patient recovery time. Growing research on novel therapeutic approaches, including targeted therapies and immunotherapies, is expanding treatment options for thoracic diseases, creating opportunities for market growth. Recent trends in the market indicate increasing demand for remote patient monitoring and telemedicine services, especially in remote areas where access to specialized thoracic surgeons may be limited. Innovations in surgical instruments, such as the development of flexible endoscopes and image-guided systems, are enhancing the accuracy and efficiency of thoracic surgical procedures.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Thoracic Surgery Market Drivers
Rising Prevalence of Thoracic Diseases
The increasing prevalence of thoracic diseases, such as lung cancer, chronic obstructive pulmonary disease (COPD), and other respiratory conditions, is a major driver of the Thoracic Surgery Market Industry. According to the World Health Organization (WHO), lung cancer is the leading cause of cancer death worldwide, with an estimated 1.8 million deaths in 2020. COPD is also a major public health concern, affecting an estimated 251 million people worldwide.As the incidence of these diseases continues to rise, the demand for thoracic surgeries is expected to increase, thereby driving the growth of the market.
Technological Advancements
The Thoracic Surgery Market Industry is growing as training and diagnostic tools are improving and becoming more accessible. In addition, improving surgical techniques and the development of new technologies are contributing to the market’s growth. Video-assisted thoracoscopic surgery and robotic surgery are minimally invasive techniques that are becoming more popular due to their reduced invasiveness and improved patient outcomes. With the aid of these technologies, surgeons are able to carry out complex processes with high precision and minimal risks to the patients, which in turn leads to better satisfaction and shorter hospital days. It is important to note that this level of sophistication is likely to cause an upsurge in demand for these technologies in the next few years.Notably, the demand for these technologies is expected to increase over the next few years.
Rising Demand for Personalized Medicine
Another factor that influences the growth of the Thoracic Surgery Market Industry is the increasing demand for Personalized Medicine. It is a medical model that tailors a treatment to the characteristics of a patient, including genetic predispositions, lifestyle, environment, etc. Surgeons become able to find the best treatment for a patient according to his or her needs. The development in the sphere of genetic testing and the development of new biomarkers allows us to understand thoracic diseases better and develop a more effective treatment for them.
Thoracic Surgery Market Segment Insights
Thoracic Surgery Market Procedure Type Insights
The Thoracic Surgery Market has been sub-segmented into Open Thoracic Surgery, Video-Assisted Thoracoscopic Surgery and Robotics-Assisted Thoracic Surgery based on procedure type. Among these sub-segments, the VATS sub-segment dominated the market in 2023 and is anticipated to continue its dominance over the forecast period. It can be attributed to the rising preference for minimally invasive surgical techniques. VATS is generally preferred for most thoracic procedures owing to its advantages over open thoracic surgery, such as lower pain and scarring, quick recovery and early discharge.Moreover, technology advancements, increased experience, and expanding indications have enabled the performance of VATS for a variety of thoracic procedures, including lung resections, esophagus surgery and mediastinal tumor removal. Additionally, over the forecast period, the RATS sub-segment is estimated to experience substantial growth. The demand for RATS is expected to grow over the forecast period, owing to its advantage over VATS in terms of accuracy and control, as it facilitates highly complex thoracic procedures. Furthermore, technological advancements are anticipated to drive the adoption of RATS.The rise in the prevalence of thoracic diseases such as COPD and lung cancer is the major factor driving the market growth. In addition, the adoption of minimally invasive surgeries is also fuelling market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Thoracic Surgery Market Medical Condition Insights
Lung cancer held the largest share of the Thoracic Surgery Market revenue in 2023, and it is projected to maintain its dominance throughout the forecast period. The high prevalence of lung cancer, coupled with the increasing adoption of minimally invasive surgical techniques, is driving the growth of this segment. Esophageal cancer is another major segment with a significant market share. The rising incidence of esophageal cancer, along with the availability of advanced surgical procedures, is contributing to the growth of this segment. Mediastinal tumors, pneumothorax, and empyema are other key segments of the Thoracic Surgery Market, with each segment exhibiting unique growth dynamics based on disease prevalence, surgical advancements and reimbursement policies.The Thoracic Surgery Market is expected to witness steady growth over the coming years, driven by factors such as the increasing prevalence of thoracic diseases, technological advancements and rising healthcare expenditure.
Thoracic Surgery Market Patient Type Insights
The Thoracic Surgery Market is segmented by Patient Type into Inpatients and Outpatients. In 2023, the inpatient segment held the larger market share, accounting for over 67% of the global market revenue. This is primarily due to the higher number of thoracic surgeries that require hospitalization, such as lung cancer resections, esophageal surgeries, and heart surgeries. The outpatient segment is expected to grow at a faster CAGR during the forecast period, driven by the increasing number of minimally invasive thoracic surgeries and the growing trend towards outpatient surgery centers.By 2032, the outpatient segment is projected to account for over 33% of the global market revenue.
Thoracic Surgery Market Surgical Approach Insights
The Thoracic Surgery Market segmentation by Surgical Approach into Standard Approach and Minimally Invasive Approach provides valuable insights into the market dynamics. The Minimally Invasive Approach segment is projected to register a higher CAGR during the forecast period, owing to its advantages, such as reduced surgical trauma, shorter recovery time and better cosmetic outcomes. Thoracic Surgery Market revenue from the Minimally Invasive Approach segment is expected to reach USD 10.2 billion by 2023, growing at a CAGR of 5.6%.The Standard Approach segment, which involves traditional open surgery, is expected to account for a significant market share, particularly in developing countries where minimally invasive techniques may not be widely available. Thoracic Surgery Market data suggests that the Standard Approach segment is expected to generate revenue of USD 15.0 billion by 2023, growing at a CAGR of 4.2%. The increasing prevalence of thoracic diseases, technological advancements, and rising healthcare expenditure are key factors driving the growth of the Thoracic Surgery Market.
Thoracic Surgery Market Surgical Scope Insights
The Thoracic Surgery Market segmentation by Surgical Scope includes Diagnostic, Therapeutic and Emergency. The Diagnostic segment held the largest market share in 2023, accounting for around 45% of the Thoracic Surgery Market revenue. The Therapeutic segment is expected to witness the fastest growth rate during the forecast period, owing to the increasing prevalence of thoracic diseases such as lung cancer and chronic obstructive pulmonary disease (COPD). The Emergency segment is expected to account for a significant market share due to the rising number of thoracic emergencies, such as trauma and acute respiratory distress syndrome (ARDS).
Thoracic Surgery Market Regional Insights
The Thoracic Surgery Market is segmented into North America, Europe, APAC, South America and MEA. Among these regions, North America is expected to hold the largest market share in 2023, owing to the high prevalence of thoracic diseases, well-established healthcare infrastructure, and the presence of leading market players. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness significant growth over the forecast period due to the increasing incidence of thoracic diseases, rising healthcare expenditure, and the growing adoption of minimally invasive surgical techniques.South America and MEA are expected to contribute a smaller share to the global market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Thoracic Surgery Market Key Players And Competitive Insights
The Thoracic Surgery Market industry demonstrates an extremely competitive structure involving many leading players. Among the main participants in Thoracic Surgery Market, we can outline the presence of Johnson Johnson, Medtronic, and Stryker. These companies have managed to establish strong positions in the market due to several acquisitions and partnerships, along with continuous innovations in products. Besides the market leaders, there are also smaller companies that are more regional and help the industry grow and provide more innovation. The leading Thoracic Surgery Market companies primarily focus on the improvement of technologies, expansion of product portfolios, and reinforcement of the available distribution networks. Thoracic surgery industry leaders attempt to remain in the leading positions by engaging in research and development and launching new products that meet the needs of thoracic surgeons and address the new problems they face.
Therefore, among the Thoracic Surgery Market leaders, Johnson Johnson is one of the key companies in the industry in terms of market share. The company offers a wide range of thoracic surgery products, such as stapling devices, energy systems, and visualization technologies. Johnson Johnson has gained such a strong position in the market due to its strong brand, global presence, and numerous innovations. The company continues to be involved in research and development to improve its products and develop new solutions to address the unmet needs that currently exist in thoracic surgery. At the same time, Johnson Johnson benefits from various acquisitions and collaborations in the current period.
An important competitor in the industry Thoracic Surgery Market is Medtronic, which also offers a wide variety of products related to different types of thoracic surgery, including robot-assisted thoracic surgery systems, instruments and accessories, and patient monitors. Due to innovations in minimally invasive and robot-assisted technologies, among others, and a strong distribution network, the company retains such a strong position. At the same time, the main factor for Medtronic that distinguishes it from others is a focus on the improvement of patient outcomes through innovations.
Key Companies in the Thoracic Surgery Market Include
- Karl Storz
- Medtronic
- GE Healthcare
- Stryker
- Fujifilm
- Boston Scientific
- Abbott Laboratories
- Becton, Dickinson and Company
- Smith Nephew
- Olympus
- Terumo
- Intuitive Surgical
- Pentax
- Johnson Johnson
- Siemens
- ConMed
Thoracic Surgery Market Industry Developments
The Thoracic Surgery Market is expected to grow from USD 16.36 billion in 2023 to USD 25.2 billion by 2032, at a CAGR of 4.92% during the forecast period. The market growth is attributed to the increasing prevalence of thoracic diseases, rising demand for minimally invasive surgeries, and technological advancements in surgical techniques.Recent news developments include the approval of new robotic systems for thoracic surgery, such as the da Vinci Xi Surgical System, which provides surgeons with enhanced precision and control during complex procedures. Additionally, the development of AI-powered surgical navigation systems is improving preoperative planning and reducing the risk of complications.
Thoracic Surgery Market Segmentation Insights
- Thoracic Surgery Market Procedure Type Outlook
- Open Thoracic Surgery
- Video-Assisted Thoracoscopic Surgery (VATS)
- Robotics-Assisted Thoracic Surgery (RATS)
- Thoracic Surgery Market Medical Condition Outlook
- Lung Cancer
- Esophageal Cancer
- Mediastinal Tumors
- Pneumothorax
- Empyema
- Thoracic Surgery Market Patient Type Outlook
- Thoracic Surgery Market Surgical Approach Outlook
- Standard Approach
- Minimally Invasive Approach
- Thoracic Surgery Market Surgical Scope Outlook
- Diagnostic
- Therapeutic
- Emergency
- Thoracic Surgery Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
15.59(USD Billion) |
| Market Size 2023 |
16.36(USD Billion) |
| Market Size 2032 |
25.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.92% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Karl Storz, Medtronic, GE Healthcare, Stryker, Fujifilm, Boston Scientific, Abbott Laboratories, Becton, Dickinson and Company, Smith Nephew, Olympus, Terumo, Intuitive Surgical, Pentax, Johnson Johnson, Siemens, ConMed |
| Segments Covered |
Procedure Type, Medical Condition, Patient Type, Surgical Approach, Surgical Scope, Regional |
| Key Market Opportunities |
1.      Minimally Invasive 2.      Robotics Artificial 3.      Intelligence Personalized 4.      Medicine Emerging Markets |
| Key Market Dynamics |
1.      Aging Population 2.      Technological Advancements 3.      Rising Prevalence of Lung Cancer |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Thoracic Surgery Market is expected to reach a valuation of 25.2 billion USD by 2032.
The CAGR of the Thoracic Surgery Market between 2024 and 2032 is estimated at 4.92%.
North America is expected to hold the largest market share in the Thoracic Surgery Market in 2032.
The rising prevalence of lung cancer and other thoracic diseases, technological advancements, and increasing demand for minimally invasive procedures are driving the growth of the Thoracic Surgery Market.
Key competitors in the Thoracic Surgery Market include Medtronic, Johnson Johnson, Stryker and B. Braun.
Major applications of thoracic surgery include lung cancer resection, esophageal cancer resection, and mediastinal tumor resection.
The Asia-Pacific Thoracic Surgery Market is expected to grow at a CAGR of 6.5% between 2023 and 2032.
Challenges faced by the Thoracic Surgery Market include high cost of procedures, lack of skilled surgeons, and reimbursement issues.
Emerging trends in the Thoracic Surgery Market include the adoption of robotic surgery and personalized medicine.
Technological advancements are leading to the development of less invasive and more precise surgical techniques, driving the growth of the Thoracic Surgery Market.
