The global lung cancer surgery market size is estimated to value USD 42.13 billion by 2027 from USD 30.15 billion in 2022, growing at a CAGR of 6.92% during the forecast period.
Lung cancer sometimes referred to as lung carcinoma, is a malignant lung tumor marked by uncontrolled cell growth in lung tissues. People who use a lot of nicotine or who smoke are more likely to get lung cancer. Lung cancer risk rises with time and with the number of cigarettes smoked by an individual. Biopsy, which is performed under bronchoscopy or CT guidance, includes treatment of lung cancer. The surgical removal of cancerous tissue from the lungs is known as lung cancer surgery. Small cell lung cancer and non-small cell lung cancer are the two most common forms of lung cancer. The type of surgery is determined by the tumor's location and size within the lung. The tumor is removed using a surgical technique or process. After surgery, some patients have discomfort and problems, although these are generally managed by medicine.
The global lung cancer surgery market is being driven by an increase in the prevalence of lung cancer and increasing levels of general public awareness about cancer treatment, and ongoing advancements in surgery equipment.
Increased risk factors among expanding tobacco smokers and a growing elderly population are boosting the industry's expansion. Furthermore, technical improvements in cancer therapy, a growing trend toward early cancer detection and treatment, and a positive reimbursement outlook contribute to the industry's growth. An increase in air pollution is the primary factor that drives the global lung cancer surgery market growth. Rising incidences of cancer incidences globally are another factor propelling the worldwide lung cancer surgery market demand. Increasing knowledge about cancer and the availability of treatments for cancer, along with the favorable reimbursement in the developed and developing countries, are accelerating the growth rate of this market.
Additionally, many other factors expected to fuel growth in the global lung cancer surgery market over the forecast period include the introduction of advanced healthcare infrastructure, an increase in smokers, and a reduction in the time required for lung cancer surgeries using new advanced technologies. Increased technological advancement and up gradation in lung cancer treatment and increased government funding for research and development of new drugs and treatment procedures are the major factors driving the lung cancer surgery market. With the growth of technological advancements in automation, robotic surgeries for surgical procedures are gaining popularity and acceptability among healthcare professionals. Robotic operations are minimally intrusive, which makes them more comfortable for patients. The existing markets like Brazil, India, and China, offer significant opportunities for the market players in the lung cancer surgery market.
Growing purchase power has enabled the patient population in existing countries to opt for technologically advanced material services and solutions. This attribute is regarded to drive the demand for advanced medical devices and the spread of surgery products.
The factors that hamper the market growth are lack of surgery knowledge, effective alternative treatments, and limited quality of being easy to obtain novel approaches, sudden and expected location, the large size of the tumor, pain after the surgery, and high cost. To overcome the challenges, few companies offer a growing portfolio of specially focused solutions designed to improve the health and quality of people’s lives around the world. This portfolio is known for new devices that simplify complex procedures.
Additionally, the global lung cancer surgery market is anticipated to be restrained by a shortage of competent experts for lung cancer treatment and a lack of adequate infrastructure in emerging nations throughout the forecast period. Furthermore, the high cost of lung cancer operations is one of the key factors expected to restrict the market expansion and pose additional challenges to the lung cancer surgery market.
Impact of COVID-19 on the global lung cancer surgery market:
COVID-19's fast spread, high death rates in populations, a lack of regular anti-tumor therapies, and widespread quarantine measures have all impacted cancer patients' psychological well-being, even leading to mental health issues. With nations affected by the pandemic, the number of cancer screening and diagnostic procedures dropped drastically. According to a preliminary analysis of the US market, the number of newly diagnosed metastatic non-small-cell lung cancer patients has decreased. Patients, particularly cancer patients with delayed admittance, require immediate psycho-oncological assistance. Cancer patients were more likely to link physical discomfort with COVID-19 and more hypersensitive to physiological changes, including coughing, dyspnea, tiredness, and other signs and symptoms. Due to frequent contact with the healthcare system, immunocompromised state from cancer or associated treatments, supportive medicines such as steroids, and most significantly, advanced age and illness, cancer patients are extremely prone to SARS-CoV-2 infections. By considering all these, the Lung Cancer Surgery Market has a negative impact due to this pandemic.
Market Size Available
2021 to 2027
2022 to 2027
By Procedure, Device & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
Ethicon US LLC, Intuitive Surgical Inc., AngioDynamics Inc., Olympus Corporation, Accuray Inc., Ackermann Instrumente GmbH, Teleflex Inc., KARL STORZ GmbH, Scanlan International Inc., and Trokamed GmbH.
This research report on the global lung cancer surgery market has been segmented and sub-segmented based on procedure, device, and region.
Lung Cancer Surgery Market - By Procedure:
Based on the Procedure, the segmentectomy segment is predicted to account for a significant share in the global market during the forecast period. Non-small cell lung cancer can be treated with a segmentectomy, a frequent surgical procedure (NSCLC). If the patient already has a severely depleted lung reserve, it is usually preferred over lobectomy. Although lung segmentectomy has long been popular for excision of supporting lesions and non-malignant masses, it is most often indicated for lung cancer that is still in its early stages. This procedure gains popularity due to better results, less discomfort, and a faster recovery time than standard surgical techniques. In addition, the segmentectomy treatment has a high success rate for eliminating localized tumors and cancers, with greater survival rates and the ability to retain organ functioning to some extent, and these benefits are expected to drive the market expansion.
The minimally invasive surgeries segment is anticipated to grow at an aggressive rate during the forecast period. The increased use of minimally invasive methods, technical developments, reimbursement regulations, and the expanding trend of robotic operations are all factors driving this market segment's rise in the future.
Lung Cancer Surgery Market - By Device:
Based on Device, the surgical segment held the largest share of the market in 2020. The market is being driven by rising lung cancer prevalence and incidence, increased government support and financing, and increased use of surgical techniques for lung cancer therapy.
Lung Cancer Surgery Market - By Region:
Geographically, North America dominates the global lung cancer surgery market from 2021 to 2026. An increase in population’s age day-wise, the rising occurrence rate of lung cancer, and reimbursement available for lung cancer surgery are the factors that drive the market in the North American region. In addition, the advanced healthcare infrastructure that supports technologically advanced surgeries like robotic surgery is likely to bolster the demand of the market. Because of the availability of suitable healthcare infrastructure and the rising prevalence of lung cancer, North America accounted for the largest revenue share in the worldwide lung cancer surgery market. Furthermore, technological advancements in surgical methods are projected to drive the growth of the worldwide lung cancer surgery market. Lung cancer has been diagnosed in the majority of patients in the previous five years. Non-small cell lung cancer is cured in tens of thousands of patients in the United States each year. Lung cancer is a disease that primarily affects the elderly. This reflects the high prevalence of lung cancer in this nation, which has resulted in the market's expansion due to the strong demand for cancer treatment.
Asia ranks as the fastest-growing segment due to the growing population, high commonness of cancer, and rising knowledge campaigns. These countries are anticipated to witness high growth due to the less strict regulation policies and low competition. As a result, Asia-Pacific is expected to produce more. The expensive nature of robotic surgeries can be a problem in existing Asia Pacific regions such as India and China. Due to quickly growing healthcare infrastructure, rising patient awareness, and acceptance of technologically developed robotic operations in Japan and emerging economies such as India and China, Asia Pacific is projected to be the most lucrative market.
KEY MARKET PLAYERS:
Some of the notable companies leading the global lung cancer surgery market profiled in this report are Ethicon US LLC, Intuitive Surgical Inc., Olympus Corporation, Accuray Inc., AngioDynamics Inc., Teleflex Inc., KARL STORZ GmbH, Ackermann Instrumente GmbH, Scanlan International Inc. and Trokamed GmbH.
RECENT MARKET DEVELOPMENTS:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
18.104.22.168 Sleeve Resection
5.1.3 Minimally Invasive
5.1.4 Y-o-Y Growth Analysis, By Procedure
5.1.5 Market Attractiveness Analysis, By Procedure
5.1.6 Market Share Analysis, By Procedure
5.2.2 Surgical Devices
22.214.171.124 RIB Sheers
5.2.3 Monitoring Devices
126.96.36.199 Cameras & Video Support
5.2.4 Visualizing Devices
188.8.131.52 Endoscopic Trocars with optical views
184.108.40.206 Endo surgical Equipment
5.2.5 Y-o-Y Growth Analysis, By Type
5.2.6 Market Attractiveness Analysis, By Type
5.2.7 Market Share Analysis, By Type
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Procedure
22.214.171.124 By Device
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Procedure
184.108.40.206 By Device
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Procedure
22.214.171.124 By Device
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Ethicon US LLC
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Intuitive Surgical Inc.
8.3 Olympus Corporation
8.4 Accuray Inc.
8.5 AngioDynamics Inc.
8.6 Teleflex Inc.
8.7 KARL STORZ GmbH
8.8 Ackermann Instrumente GmbH
8.9 Scanlan International Inc.
8.10 Trokamed GmbH.
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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