This market research report includes a detailed segmentation of the global thoracic surgery market by technology (coronary artery bypass grafting, heart valve repair, TAVR, LAA closure, and TEVAR). It also outlines the market shares for key regions such as the Americas, APAC, and EMEA. The leading vendors analyzed in this market research are Boston Scientific, Medtronic, Sorin, St. Jude Medical, and Terumo.
Technavio’s market research analysts estimate the global thoracic surgery market to grow at a CAGR of around 10% between 2016 and 2020. The rise in the incidence of heart failures and cardiovascular disorders such as stroke, coronary artery disease, ischemic heart disease, coupled with an increase in market penetration of heart-lung machines and oxygenators, has accelerated the demand for thoracic surgeries. The Americas dominate the global market for thoracic surgery, accounting for 40% of eth total market share. Much of this region’s growth stems from the presence of a vast number of implant centers in the region and the high incidence of cardiovascular diseases in the North American region.
The new market research report from Technavio provides a breakdown and analysis of the thoracic surgery segments by technology.
“The growing popularity of robotic-assistance cardiac surgery procedure is the latest trend in this market. Robotic surgical procedures help to reduce hospital stays and facilitate better cost management; therefore, they are increasingly being preferred over other conventional surgical procedures. Moreover, these procedures ensure surgical precision, improved outcomes, faster recovery periods, and reduced pain and discomfort. The increasing awareness about the potential benefits of robotic surgeries among the patients and surgeons will compel hospitals to install and implement such equipment,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research
The coronary artery bypass grafting (CABG) segment currently dominates the global thoracic surgery market and accounts for a market share of around 54%. The popularity of this procedure is driven by the increase in the prevalence of blood clots in the arteries. In this market study, it is estimated that approximately 500,000 CABG procedures were performed in the US in 2014.
The leading vendors in the global thoracic surgery market include Boston Scientific, Medtronic, Sorin, St. Jude Medical, and Terumo. This market is fragmented owing to the presence of key vendors like Boston Scientific, Medtronic, Sorin, St. Jude Medical, and Terumo. Factors like the US FDA clearance and CE mark have led to the launch of many new devices in this market.
A more detailed analysis is available in the Technavio report, Global Thoracic Surgery Market 2016-2020.
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