Minimally Invasive Thoracic Surgery Market Size, Share & Trends Analysis Report By Type (Lobectomy, Wedge Resection, Pneumonectomy), By Region (North America, Europe, APAC, LATAM, MEA), And Segment Forecasts, 2021 - 2028

Report Overview

The global minimally invasive thoracic surgery market size was valued at USD 2.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.7% from 2021 to 2028. This can be attributed to the increasing prevalence of chronic diseases, such as lung cancer, that demands better, quicker, and patient-friendly diagnostic and therapeutic facilities, growing preference for minimally invasive procedures, and the technological advancements meeting patient needs. According to cancer statistics, 2021 by the American Cancer Society, about 235,760 new cases of lung cancer were diagnosed. Lung Cancer accounts for 20% of cancer deaths worldwide and is preventable due to the development of surgical procedures, which is expected to increase the demand for minimally invasive thoracic surgeries.

The da Vinci Surgical System (Intuitive Surgical Inc.) is the most frequently used computer-enhanced endoscopic system capable of laparoscopic surgery. The continuous and accelerated development of novel technologies indicate rapid advancements in the field of minimally invasive thoracic surgeries. Geisinger Health System launched Proven Care, which is an initiative providing the patients with the “guarantee” to cover all expenses that arise due to complications in the 90 days of follow-up admissions.

Such initiatives help in quality improvement with a reduction in surgical errors and complications while reducing costs. Reduction in elective surgeries, concerns related to virus proliferation, reduced hospital staff, reduced liquidity to adopt necessary equipment by end users, reduced admission rates, and change in federal policies are factors triggered by the Covid-19 outbreak in 2020.  However, the market is said to improve by Q2 of 2022.

Type Insights

Lobectomy captured the largest revenue share of over 50.0% in 2020 as it is the most commonly used operation for treating lung cancer. According to a study published in the National Center for Biotechnology Information(NCBI), which was conducted by the Cancer Care Outcomes Research and Surveillance (CanCORS), about 1200 patients were diagnosed with non-small cell lung cancer (NSCLC), out of which 955 patients underwent surgery.

Around 524 patients opted for lobectomy, about 128 of them opted for pneumonectomy, and 209 patients had opted for wedge resection, segmentectomy, sleeve lobectomy, and laser excision. The minimally invasive lobectomy procedures were found to have a shorter median hospital length of stay, improved two-year survival, and increased 30-day readmission rate. Such benefits further help in the higher adoption of the technology, thereby fueling the market growth.

Regional Insights

North America dominated the market in 2020 with more than 45.0% share owing to the presence of favorable scenarios for technological advancements, which leads to the development of products that comply with the evolving patient needs, the availability of newly introduced devices, and the presence of skilled surgeons and organized regulatory and reimbursement bodies. As most of the patients undergoing these surgeries are old aged, Medicare reimbursement policy helps unburden the expenses and becomes an important aspect of the market growth. Other organizations delivering medical policies help in reducing the cost burden arising from the surgeries and the post-operative period.

Smoking is one of the direct risk factors associated with lung cancer. The majority of cancer deaths are believed to be an outcome of smoking. The involvement of a person in this activity for a longer period increases the risk of lung cancer. North America and Northern Europe show high estimated rates of lung cancer due to the high incidence rates of tobacco use. Thus, these areas are potential markets for minimally invasive surgeries due to the high prevalence, along with the availability of technologically advanced procedures, thus favoring the market growth.

Key Companies & Market Share Insights

Continuous R&D activities by the industry players are significantly driving the market. In 2017, Intuitive Surgical announced da Vinci X, which is a new version of the technology that is a median between the da Vinci Si and the da Vinci Xi surgical system. Such initiatives by the company help in improving the penetration of the technology in the surgical market. Some prominent players in the global minimally invasive thoracic surgery market include:

• Medtronic plc

• Cardio medical GmbH

• Intuitive Surgical

• Richard Wolf GmbH

• Grena Ltd.

• Dextera Surgical Inc.

• Teleflex Incorporated

• Medela Healthcare

• LivaNovaplc

• Sklar Surgical Instruments

Minimally Invasive Thoracic Surgery Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels, and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global minimally invasive thoracic surgery market report on the basis of type and region:

• Type Outlook (Revenue, USD Million, 2016 - 2028)

  • Lobectomy

  • Wedge Resection

  • Pneumonectomy

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa