Lung Cancer Surgery Market

Lung Cancer Surgery Market Size

[170+ Pages Research Reports] Lung Cancer Surgery Market to surpass USD 6.8 billion by 2032 from USD 4.14 billion in 2021 at a CAGR of 4.7% throughout the forecast period 2022-32

PRODUCT OVERVIEW

Lung cancer surgery is performed on some patients on the basis of the type, the area of surgery, and stage of their lung cancer and other medical disorders. Surgery is not advised for all patients with lung cancer, some need partial while others need complete lung removal. Surgery is used to treat the severe lung cancer. This involves removing the tumor, a few lung tissues around it, and frequently some lymph nodes as well. When lung cancer is limited and does not tend to spread, surgery to remove the tumor is thought to be the best option. This includes carcinoid tumors and non-small cell lung cancer in its early stages.

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MARKET HIGHLIGHTS

The Lung Cancer Surgery Market is expected to project a notable CAGR of 4.7% in 2032.

Lung Cancer Surgery to surpass USD 6.8 Billion by 2032 from USD 4.14 Billion in 2021 at a CAGR of 4.7% in the coming years, i.e., 2022-32. The global market for lung cancer surgery is anticipated to grow over the forecast period due to factors, such as growing air pollution levels and an increase in cigarette smokers. Another fueling factor of the market is the significant investment in research laboratories, rising air pollution levels, rising smoking rates, and advantageous reimbursement policies, particularly in industrialized nations.

Figure - Market Analysis of Lung Cancer Surgery Market

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LUNG CANCER SURGERY MARKET: SEGMENTS

The Surgical Instruments segment is expected to grow with a higher CAGR during 2022-32

Lung Cancer Surgery market is categorized on the basis of Surgical Devices into Surgical Instruments, Monitoring & Visualizing Systems, and Endosurgical Equipment. The surgical instruments market category held the maximum market share in 2020. The factors driving the segment growth are the rising incidence and prevalence of lung cancer, the increased government funding and support, and the growing use of surgical methods for lung cancer therapy.

The Minimally Invasive Surgeries segment is expected to grow with a higher CAGR during 2022-32

Lung Cancer Surgery market is categorized on the basis of Surgical Procedures into Thoracotomy and Minimally Invasive Surgeries. The market for lung cancer surgery was dominated by the thoracotomy sector in 2020. However, the category for minimally invasive surgeries is anticipated to experience the fastest growth during the projection period. The reasons driving the growth of this market segment include the rising acceptance of minimally invasive procedures, rising technical breakthroughs, the availability of reimbursement policies, and the rising popularity of robotic surgeries.

Figure - Market Analysis of Global Lung Cancer Surgery

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MARKET DYNAMICS

GROWTH DRIVERS

The Growing Air Pollution and Increasing Number of Smokers Leading to Lung Cancer

One of the main reasons for the rise of the lung cancer surgery market is the increase in air pollution and the number of people affected by it. According to the research, lung cancer is the leading cause of cancer-related deaths on the global scale. Due to the vast patient pool and demand for effective treatment, it is also anticipated that the rising occurrences of lung cancer will contribute to the demand for lung cancer surgery instruments. With the rise in heavy smoking, environmental pollution, and workplace exposures in milling, construction, and auto repair shops, lung cancer cases are increasing speedily. Another well-known and evident risk factor for lung cancer is smoking cigarettes.

The Emergence of Innovative Technologies in the Healthcare Sector for Advanced Lung Cancer Surgeries

The demand for lung cancer surgery is predicted to increase in the next years due to the rise of cutting-edge medical technology and the introduction of high-tech surgical energy devices. Lung resection procedures have increased in frequency as a result of the enhanced device versatility and ease of use in complex cases brought on by new endoscopic and surgical tools. The development of the global lung cancer surgery market has been positively impacted by the advancement of technology.

RESTRAINT

High Costs of the Surgeries and Rising Number of Post-Surgery Infections and Risks

High-cost lung cancer surgeries include lobectomy, wedge resection, and other procedures. For a sizable population, the cost of endoscopy and video-assisted lung surgical operations is a serious issue. This is since in low-economic nations like South Africa, India, and China, video-assisted surgeries are not covered by health insurance, and there is little government support for them. The market for lung cancer surgery is also anticipated to develop slowly due to post-operation infections and dangers connected with lung surgery. Some patients who have lung resection treatments frequently experience numerous post-operative problems and infections. The most frequent side effect of lung resection is air leak.

RECENT DEVELOPMENTS

• In 2021 June, Intuitive introduced the SureForm surgical stapler with robotic assistance.
• Medtronic Private Limited in India introduced the ‘EEA Circular Stapler with Tri-Staple Technology’, the first 3-row circular stapler with adjustable height staples, in December 2020.
• Johnson & Johnson finalized the acquisition of robotic platform technology manufacturer Auris Health Inc. in April 2019.

LUNG CANCER SURGERY MARKET: KEY PLAYERS

• Boston Scientific

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Johnson & Johnson
• Medtronic Private Limited
• Olympus Corporation
• Intuitive Surgical Inc.
• KLS Martin Group
• KARL STORZ SE & Co. KG
• Accuray Inc
• Ackermann Instrumente GmbH
• Trokamed GmbH
• Teleflex Incorporated
• Ethicon Inc.
• AngioDynamics
• Scanlan International Inc.
• FusionKraft
• Other Prominent Players

LUNG CANCER SURGERY MARKET: REGIONS

Lung Cancer Surgery market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America held the larger market share in 2020. The large segment of lung cancer cases in North America can be attributed to rising technological developments in the management of the disease, growing incidence and prevalence of lung cancer, rising tobacco use, growing emphasis on early cancer detection and treatment, and the availability of reimbursement.

Asia-Pacific is also anticipated to be the most lucrative market due to the rising patient awareness levels, region's fast evolving healthcare infrastructure, and adoption of technologically advanced robotic procedures in Japan and the expanding economies of India and China.

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IMPACT OF COVID-19 ON LUNG CANCER SURGERY MARKET

The coronavirus pandemic presented an unprecedented challenge to the global healthcare systems, particularly in the care of cancer patients. Numerous lung cancer patients postponed follow-up appointments or routine anticancer treatments after the disease's emergence out of concern over the spread of the illness. The severe effects of the pandemic on oncological care have hampered the prospects for the sector in recent months. However, COVID-19 disease-related health issues, which over time caused significant harm to organs including the lungs, supported industry recovery after lower Coronavirus risk.

LUNG CANCER SURGERY MARKET IS FURTHER SEGMENTED BY REGION INTO:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

LUNG CANCER SURGERY MARKET REPORT ALSO CONTAINS ANALYSIS ON:

Lung Cancer Surgery Market Segments:

• By Surgical Devices
  • Surgical Instruments
  • Monitoring & Visaulising Systems
  • Endosurgical Equipment
• By Surgical Procedures
  • Thoracotomy
  • Minimally Invasive Surgeries
• By End User
  • Hospitals
  • Ambulatory Surgical Centers
• Lung Cancer Surgery Market Dynamics
• Lung Cancer Surgery Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

LUNG CANCER SURGERY MARKET REPORT SCOPE AND SEGMENTATION

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