Thoracic Surgery Devices Global Market Report 2024 - By Size, Share, Demand, Growth, Forecast To 2033

The thoracic surgery devices market size has grown rapidly in recent years. It will grow from $8.07 billion in 2023 to $8.89 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to advancements in surgical techniques, aging population and prevalence of thoracic diseases, increasing surgical volume, healthcare infrastructure development, training and education initiatives.

The thoracic surgery devices market size is expected to see strong growth in the next few years. It will grow to $12.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to robotics and ai integration, patient-centric approaches, customized implant solutions, telemedicine and remote surgery, value-based healthcare models. Major trends in the forecast period include global collaboration in healthcare, technological innovations in medical devices, advancements in imaging technology, telemedicine and remote surgical support, rise in ambulatory surgical centers (ascs).

Market Overview -
Thoracic surgery devices refer to a variety of specialty instruments and equipment designed for use in surgeries related to the thorax, which includes the chest area containing the lungs, heart, esophagus, and other vital structures. Thoracic surgery devices are designed to provide surgeons with precise control and visualization during surgical procedures, minimizing the risk of complications and improving patient outcomes.

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Surge In Thoracic Surgery Device Market Growth Amidst Escalating Prevalence Of Thoracic Diseases
The rising prevalence of thoracic diseases is expected to fuel the growth of the thoracic surgery device market going forward. Thoracic diseases encompass a wide range of medical conditions that affect the organs and structures within the thoracic cavity, which includes the chest area containing the heart, lungs, esophagus, trachea, diaphragm, and major blood vessels. Thoracic surgery devices are used to aid thoracic surgeons in performing procedures within the chest cavity, ensuring precision, efficacy, and safety. For instance, in 2023, according to the Australian Institute of Health and Welfare, an Australia-based government agency, chronic obstructive pulmonary disease (COPD) accounted for 3.6% of the total disease burden and constituted 50% of the total burden of disease attributable to respiratory conditions in 2023. Therefore, the rising prevalence of thoracic diseases is driving the growth of the thoracic diseases market.

Competitive Landscape -
Major companies operating in the thoracic surgery devices market report are Cardinal Health, Medtronic plc, Danaher Corporation, Becton, Dickinson and Company, Stryker Corporation, B. Braun Melsungen AG, Olympus Corporation, Intuitive Surgical, Getinge AB, Teleflex Inc., Cook Group Incorporated, Richard Wolf GmbH, Scanlan International, OmniGuide Holdings Inc., KLS Martin Group, Sklar Surgical Instruments, ATMOS MedizinTechnik GmbH & Co. KG, Medela Healthcare, Dextera Surgical Inc., Biolitec AG, Johnson & Johnson Private Limited, Cardio medical GmbH, Grena Ltd., LivaNova plc, Sinapi Biomedical

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