LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global thoracic surgery market predicts the market to witness a CAGR of over 9% during the forecast period. This research report segments the market by product (CRM and cardiac arrest devices, heart valve repair and replacement devices, cardiopulmonary devices, heart defect closure, and other thoracic surgery devices) and geography (North America, Europe, Asia, and ROW).
Increasing number of thoracic surgeries
There has been a considerable increase in thoracic surgeries including the implantation of CRM devices, cardiac assist devices, heart valve repair and replacement devices, and CABG procedures. This can be attributed to several factors including the replacement of CRM devices and the increasing prevalence of CVDs and lung diseases. In addition, there is an increasing demand for thoracic surgery devices among the large geriatric population owing to significant improvements in technology. Thus, owing to the rising number of thoracic surgeries, the global thoracic surgery market is anticipated to witness surging growth during the next few years.
CRM and cardiac assist devices segment garnered the highest share in 2018
CRM and cardiac assist devices segment witnessed highest share during 2018 due to several factors including the high prevalence of cardiac arrhythmias, rapidly growing aging population, and the increasing use of CRM devices globally. In addition, technological advances such as battery longevity and miniaturization, remote monitoring systems, device software and programming, and better implantation techniques are fueling the adoption of CRM devices. Thus, growing number of product launches from market players will contribute to the market dominance of the CRM and cardiac assist devices segment during the forecast period.
“Favorable reimbursement policies, increasing prevalence of advanced HF, rising awareness about the clinical benefits of TAHs, and the global shortage of suitable donor hearts are key factors that will drive market growth in the forthcoming years. In addition, advances in stapling devices, surgical instruments, and energy devices are also allowing clinicians to perform technically challenging and advanced procedures, which will further boost market growth,” says a senior research analyst at Technavio
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Thoracic surgery market to witness fastest adoption in Asia.
Asia will witness steady growth in the thoracic surgery market owing to the growing awareness about CVDs and lung diseases. In addition, the huge unmet need for quality healthcare and increasing government initiatives towards improving healthcare infrastructure are other factors that are expected to drive the thoracic surgery market growth during the forecast period. Furthermore, improved access to sustainable healthcare systems in the emerging and developed economies of the region are further driving the demand for high-quality thoracic surgery devices and procedures. Thus, rising initiatives by public and private organizations towards improving the overall healthcare infrastructure will foster the market’s growth in the region.
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Some of the key topics covered in the global thoracic surgery market analysis include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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