Thoracic Surgery Devices Market Size, Share, and Trends 2024 to 2033

Thoracic Surgery Devices Market Size to Reach USD 1,385.83 Mn by 2033

The global thoracic surgery devices market size was USD 743.14 million in 2023, estimated at USD 790.92 million in 2024 and is expected to reach around USD 1,385.83 million by 2033, expanding at a CAGR of 6.43% from 2024 to 2033. The thoracic surgery devices market growth is driven by factors such as the increasing prevalence of conditions like lung cancer, COPD, and heart diseases.

Key Takeaways

• The North America thoracic surgery devices market size accounted for USD 297.26 million in 2023 and is predicted to grow around USD 561.26 million by 2033 with a CAGR of 6.56% from 2024 to 2033.
• North America dominated the market with the largest revenue share of 40% in 2023.
• Asia Pacific is projected to grow at the fastest CAGR of 8.04% market over the forecast period.
• By product, the forceps segment has contributed more than 28% of revenue share in 2023.
• By product, the stapler segment is expected to see significant growth in the market over the forecast period.
• By surgery type, the lobectomy segment has recorded the biggest revenue share of 44% in 2023.
• By surgery type, the wedge resection segment is anticipated to experience considerable growth during the forecast period.
• By end-use, the hospital segment has held a major revenue share of 47% in 2023.
• By end-use, the ambulatory surgical centers (ASCs) segment is anticipated to experience the fastest growth during the forecast period.

U.S. Thoracic Surgery Devices Market Size and Growth 2024 to 2033

The U.S. thoracic surgery devices market size was valued at USD 222.94 million in 2023 and is estimated to be worth around USD 423.75 million by 2033, with a CAGR of 6.63% from 2024 to 2033.

North America dominated the thoracic surgery devices market in 2023. Its growth is driven by the presence of major industry players, high healthcare expenditures, and the increasing use of advanced technological devices in hospitals. The region boasts state-of-the-art medical facilities, including hospitals, ambulatory surgical centers, and specialized thoracic surgery units, which fuel the demand for thoracic surgery devices. Moreover, the region has a high incidence of thoracic conditions like lung cancer, cardiovascular diseases, and esophageal disorders.

• According to the National Center for Chronic Disease Prevention and Health Promotion data updated in June 2022, 6 in 10 Americans live with at least one chronic disease, like heart disease and stroke, cancer, or diabetes.

Asia Pacific is projected to host the fastest-growing thoracic surgery devices market over the forecast period. The market growth in this region is due to increased awareness about thoracic surgery, changing lifestyles, and a growing population. Rising disposable incomes and expanded healthcare coverage in several Asia Pacific countries have led to higher healthcare spending. As a result, patients have greater access to advanced diagnostic and treatment options, including thoracic surgeries, which contributes to the market's expansion.

• In August 2023, CK Birla Hospital partnered with Intuitive India to launch a surgical robot for advanced medical treatment. The installation of Intuitive’s fourth-generation robotic-assisted technology is set to support surgery, enabling precision and, in some cases, improved patient outcomes, such as reduced postoperative complications

Market Overview

Thoracic surgery devices include various equipment used in lung resections, biopsies, and other surgical procedures related to diagnosing and treating lung cancer. As the global healthcare community continues to see an increase in cases of lung cancer, the thoracic surgery devices market is expected to grow significantly.

Public health initiatives, advocacy campaigns, and educational efforts have collectively improved understanding among patients and healthcare professionals regarding the significance of timely diagnosis and treatment of thoracic diseases and conditions. This increased awareness has resulted in a rise in patient demand for thoracic surgeries, such as lung resections, esophageal procedures, and cardiac surgeries, among others.

Growth Factors

• The growing aging population is expected to drive the thoracic surgery devices market.
• Increasing awareness about the diagnosis and treatment of chronic diseases among most of the population can fuel market growth shortly.
• The rising utilization of minimally invasive surgery by healthcare professionals can further boost the demand for these devices.
• The expansion of healthcare infrastructure, especially in developing economies, is likely to help in the thoracic surgery devices market expansion.

Thoracic Surgery Devices Market Scope

Market Dynamics

Driver: Rising use of video-assisted surgical system

The growth of the thoracic surgery devices market is driven by the increasing use of video-assisted surgical systems, along with energy-based devices, and the establishment of numerous facilities for the easy implementation of cardiac rhythm management devices. Innovations and the adoption of advanced technologies in surgical methods and devices are also contributing to the market's growth. As more healthcare facilities provide thoracic surgical procedures, there is a corresponding rise in demand for devices that assist in diagnosis, treatment, and postoperative care, which is accelerating the thoracic surgery devices market expansion.

• In January 2024, the U.S. Food and Drug Administration (FDA) greenlighted Able Medical’s Valkyrie RIB system, granting 510(k) clearance for the single-use device. The device is an extension of Able’s Valkyrie thoracic fixation system, used to stabilize and fix fractures in the chest, such as in sternal reconstructive surgical procedures, planned osteotomies, and trauma fractures to the chest wall.

Restraint: High development cost

Developing and introducing new thoracic surgery devices to the market can be expensive. The investment needed for research, development, and clinical trials, along with the risk of regulatory setbacks, can present financial difficulties for manufacturers. Creating prototypes, conducting feasibility studies, and performing tests to ensure the reliability, safety, and functionality of thoracic surgery devices are important but costly steps in the development process. High development costs pose a significant challenge in the market.

Opportunity: Integration of AI

The global thoracic surgery devices market presents several growth opportunities, including the development of cost-effective devices, increasing demand in developing countries, and a growing emphasis on research and development by market players. The integration of artificial intelligence and machine learning technologies into thoracic surgery devices is also anticipated to provide significant growth prospects. Key trends in the market include the adoption of robotic-assisted thoracic surgery devices and a growing focus on product innovation by industry participants.

• In May 2024, SS Innovations International, Inc., a developer of innovative surgical robotic technologies dedicated to making world-class robotic surgery affordable and accessible to a global population, announced that 100 robotic cardiac surgery procedures have been successfully performed with the Company’s SSi Mantra Surgical Robotic System.

Product Insights

The forceps segment dominated the thoracic surgery devices market by product in 2023. Forceps are essential surgical instruments that provide fine control for performing intricate procedures, while minimizing the risk of damage to surrounding structures. Thoracic surgeries often require precise and delicate tissue handling. Foreceps play a crucial role in grasping, holding, manipulating, and dissecting tissues, making them indispensable for thoracic surgeons.

The stapler segment is expected to see significant growth in the thoracic surgery devices market over the forecast period. The advantages of using surgical staplers and staples include quick placement, minimal tissue reaction, and decreased surgery time. Surgical staplers and staples are used externally to close large wounds or surgical incisions on a patient's skin or scalp. Moreover, they are less painful than traditional stitches and offer a simpler, stronger, and faster method for closing large, open wounds, particularly after major surgeries.

• In June 2022, Johnson & Johnson MedTech’s subsidiary Ethicon launched the next-generation digitally enabled ECHELON 3000 Stapler for surgeons in the U.S. The new advanced surgical device has been designed to staple and transect different tissue types in open and minimally invasive surgical procedures. It is designed with a 27% bigger articulation span and 39% bigger jaw aperture.

Surgery Type Insights

The lobectomy segment dominated the thoracic surgery devices market in 2023. The lobectomy segment has captured the largest revenue share in the market. Lobectomy is a key treatment option for lung cancer, especially when the disease is confined to a single lung lobe. This procedure can offer a high chance of cure or long-term disease control. For patients with early-stage lung cancer, lobectomy significantly improves survival rates compared to other treatments, offering the potential for a cure and extended life. Additionally, lobectomy allows for a detailed examination of the removed lobe, providing essential diagnostic information to guide further treatment decisions and staging.

The wedge resection segment is anticipated to experience considerable growth in the thoracic surgery devices market during the forecast period. The adoption of minimally invasive surgical techniques, such as video-assisted thoracoscopic surgery (VATS), has increased the use of wedge resection. These methods minimize patient trauma, shorten hospital stays, and provide faster recovery times by making them appealing choices for both patients and surgeons.

End-use Insights

The hospital's end-use segment dominated the thoracic surgery devices market in 2023. The hospital segment dominated the market with the highest revenue share because hospitals serve as primary centers for patient care, diagnosis, and treatment. The increasing incidence of thoracic conditions, such as lung cancer, cardiovascular diseases, and esophageal disorders, requires advanced thoracic surgery devices to address patient needs effectively.

The ambulatory surgical centers (ASCs) segment is anticipated to experience the fastest growth in the thoracic surgery devices market during the forecast period. Ambulatory surgery centers (ASCs) are tailored for outpatient surgical procedures, and there is an increasing trend towards conducting thoracic surgeries in these facilities. Patients favor ASCs for same-day surgeries due to their convenience and shorter wait times. Additionally, innovative approaches are often implemented in ASCs, driving the demand for specialized thoracic surgery devices.

Thoracic Surgery Devices Market Companies

• Medtronic plc
• Cardio Medical GmbH
• Intuitive Surgical
• Richard Wolf GmbH
• Grena Ltd.
• Dextera Surgical Inc.
• Teleflex Inc.
• Medela Healthcare
• LivaNovaplc
• Sklar Surgical Instruments

Recent Developments

• In July 2022, announcing a strategic relationship with Kefar Sava, Israel-based CathWorks, a privately held business to revolutionize the diagnosis and treatment of coronary artery disease (CAD), Medtronic plc, a pioneer in healthcare technology, said it had signed the deal.
• In May 2022, the breakthrough devices used in sinus treatments to enhance post-operative outcomes and treat nasal polyps have been added to Medtronic plc's entire ear, nose, and throat (ENT) portfolio with the completion of the company's purchase of Intersect ENT, according to the announcement.

Segments Covered in the Report

By Product  

• Clamps
• Forceps
• Graspers
• Staplers
• Scissors
• Spreaders
• Needle Holders
• Others

By Surgery Type  

• Lobectomy
• Wedge Resection
• Pneumonectomy
• Others

By End-use  

• Hospitals
• Ambulatory Surgical Centers
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa