Minimally Invasive Thoracic Surgery Market To Reach $6.24 Billion By 2030

Minimally Invasive Thoracic Surgery Market Growth & Trends

The global minimally invasive thoracic surgery market size is expected to reach USD 6.24 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% from 2024 to 2030. 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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Minimally Invasive Thoracic Surgery Market Report Highlights

• The lobectomy segment accounted for 51.9% of the total revenue in 2023. The high rate of lobectomy procedures can be linked to the rising incidence of lung diseases such as lung cancer and chronic obstructive pulmonary disease (COPD).

• The wedge resection segment is projected to grow at a CAGR of 4.8% from 2024 to 2030. Wedge resection is particularly favored for addressing early-stage lung cancer and for patients unsuitable for more extensive surgery.

• North America captured nearly 50% of the global market in 2023 due to several key factors. These include advancements in medical technology, leading to the development of innovative products that address patient needs.

• The APAC minimally invasive thoracic surgery market is experiencing significant growth, driven by factors such as a rising patient population with chronic diseases and a growing awareness of the benefits of minimally invasive procedures.

Minimally Invasive Thoracic Surgery Market Segmentation

Grand View Research has segmented the global minimally invasive thoracic surgery market on the basis of sector, software, modality, application & region:

Minimally Invasive Thoracic Surgery Type Outlook (Revenue, USD Million, 2018 - 2030)

• Lobectomy

• Wedge Resection

• Pneumonectomy

• Others

Minimally Invasive Thoracic Surgery Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• MEA

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List Of Key Players in the Minimally Invasive Thoracic Surgery Market

• Medtronic

• Dextera Surgical Inc.

• Intuitive surgical Operations, Inc.

• Richard Wolf GmBH

• Grena Ltd.

• Medela

• LivaNova PLC

• Teleflex Incorporated

• Sklar Surgical Instruments.