Thoracoscopes Market: Rigid thoracoscopes segment accounted for the largest market share

Thoracoscopy is a minimally invasive procedure performed by a pulmonary specialist for the diagnosis and treatment of disorders related to chest cavity. It is considered to be the second most important endoscopic technology in respiratory therapy. Thoracoscopy involves insertion of a thin tube called endoscope through a small incision made on chest. Thoracoscope comprises a lens and a light source for viewing, along with various ports through which other instruments are inserted for the purpose of minor surgeries such as tissue removal. Thoracoscopes allow surgeons to inspect the mediastinum, lungs, and pleura, which helps early detection of tumors and other abnormalities in lungs. Thoracoscope is an integral part of thoracic surgery and bronchoscopy, as it requires only a single puncture to be made on the chest under local anesthesia to examine the lungs and diagnose respiratory disorders. Preference for shorter hospital stay by patients, increase in number of thoracoscope manufacturers, and introduction of technologically advanced thoracoscopes with enhanced illumination are expected to fuel the growth of the global thoracoscopes market during the forecast period. However, high cost associated with thoracoscopes and accessories, and issues of incompatibilities arising for the thoracoscopes and illumination sources are projected to restrain the global market from 2018 to 2026.

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The global thoracoscopes market can be segmented based on product type and end-user. In terms of product type, the market can be bifurcated into flexible thoracoscopes and rigid thoracoscopes. The rigid thoracoscopes segment accounted for the largest market share in terms of revenue in 2017, attributed to improved import & export of rigid thoracoscopes in Europe and rise in number of local manufacturers for rigid thoracoscopes. The segment is expected to continue to dominate the market in terms of revenue during the forecast period. However, increase in demand for flexible thoracoscopes across the globe is projected to fuel the growth of the flexible thoracoscopes segment from 2018 to 2026. In terms of end-user, the global thoracoscopes market can be categorized into hospitals, ambulatory surgical centers, diagnostic laboratories, and specialty clinics. The hospitals segment accounted for the largest market share in terms of revenue in 2017, attributed to improved distribution of thoracoscopes by key manufacturers in hospital pharmacies and favorable reimbursement policies for thoracoscopy procedures. Rise in number of multispecialty hospitals across the globe is projected to boost the growth of the hospitals segment during the forecast period. However, the specialty clinics segment is anticipated to expand at a high CAGR from 2018 to 2026, driven by recent launch of video-assisted thoracoscopic surgery (VATS), wherein thoracoscopes are used to treat the accumulated fluid in the pleural cavity.

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Geographically, the global thoracoscopes market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest market share in 2017, attributed to increase in strategic presence of key companies such as Olympus Corporation in the U.S. and rise in demand for minimally invasive surgery among patients. Significant investments in health care sector by public & private players and availability of well-equipped health care infrastructure in the U.S. and Canada are expected to fuel the growth of the market in North America during the forecast period. Europe is expected to be the second largest market for thoracoscopes in terms of revenue by 2026. Rise in prevalence of lung cancer in Asia Pacific and improved distribution of key manufacturers in China and India are the key factors boosting the growth of the market in Asia Pacific from 2018 to 2026.

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Prominent players operating in the global thoracoscopes market include Olympus Corporation, KARL STORZ GmbH, Merck & Co., Inc., STEMA Medizintechnik GmbH, Endoservice Optical Instruments, asap endoscopic products GmbH, Genuine Medica Pvt. Ltd., Myra & Co., XION GmbH, and Richard Wolf GmbH.

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