Global Lung Cancer Surgery Market – Industry Trends and Forecast to 2029

Lung Cancer Surgery Market Analysis and Insights

A wedge surgery is a procedure used to remove lung cancer along with a little amount of good tissue. Segmental resection refers to the removal of a bigger portion of the lung. A lobectomy is a procedure to remove one of the five lobes of the lung. Pneumonectomy is the surgical removal of the whole lung.

Global lung cancer surgery market is expected to gain significant market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.5% in the forecast period of 2022 to 2029 and is expected to reach USD 5,092.07 million by 2029.

Market Definition

Depending on the kind, location and stage of their lung cancer as well as any other medical issues, certain people may be candidates for lung cancer surgery. This kind of surgery is used to treat lung cancer. It involves removing the tumour, some lung tissue around it and frequently some lymph nodes as well. When lung cancer is limited and not anticipated to have spread, surgery to remove the tumour is thought to be the best option. This includes carcinoid tumours and non-small cell lung cancer in its early stages.

Lung Cancer Surgery Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increased Prevalence Of Lung Cancer Diseases

Lung cancer is the most common leading cause of death in men and women globally. The incidence and mortality from lung cancer increasing globally due to the commencement of the tobacco epidemic in various countries and populations in the developing world. Lung cancer, including trachea and bronchus cancer, is widely regarded as a threat to global health, causing a heavy burden on individuals and families. Lung cancer is a malignant tumor characterized by the uncontrolled growth of cell tissues in the lung. It is the second most commonly diagnosed and has the highest mortality rate of all cancers in both men and women. According to the GLOBOCAN, Lung cancer is the most common malignancy diagnosed worldwide, with an age-standardized incidence rate of 22.5 per 100,000 person-years. Men have a higher chance of developing lung cancer than women. However, since the middle of the 1990s, male patient incidence rates have decreased in most developed countries, while female patient incidence rates have steadily grown.

• Technological Advancement In The Field Of Healthcare

Technology advancement are of immense importance in the surgery of lung cancer. The importance of technological advancement has now taken almost every aspect of our lives. However, the most significant benefits are due to technological advances in health care. By developing new methodologies for treatment, the health system's technology becomes more effective. Recent technological advances have saved millions of lives and increased the quality of life.

In the people of all ages lung cancer is a well-known and prevalent disorder. The cutting –edge technology helps in providing better options for screening the disease. Thus, introduction of technological advanced products for the treatment of lung cancer acts as a driver for the growth of the market

• Increased Awareness Regarding The Benefits

The growing awareness programs of lung cancer by non-profit, private and public organization is leveraging to boost the market growth. These initiatives aim to reducing stigma and prejudice, prevent diseases and promoting research.

The above statement show that awareness among the population regarding lung cancer has increased as there are many awareness programs by different organizations, people know about lung cancer that can be cured if diagnosed at early stages. Thus, raising awareness among populations is acting as a driver for the global lung cancer surgery market.

Opportunities

• Rise of Minimally Invasive Techniques in Lung Cancer Surgery

Surgery is the standard of therapy for early-stage non-small cell lung cancer (NSCLC). Minimally invasive surgery (MIS), is now preferred to conventional open surgery. It has been shown that MIS procedures like video-assisted thoracoscopic surgery (VATS) and robot-assisted thoracoscopic surgery (RATS) lessen postoperative problems and decrease hospital stays. Therefore, there are launches of new minimally invasive techniques.

Growing demand for minimally invasive technique is also beneficial for further economic growth and healthcare sector growth and it is primarily fruitful as it significantly affects the development of better and advanced medical technique in the market. Thereby surge in minimally techniques in lung cancer surgery is a greater opportunity for the global lung cancer surgery market.

Restraints/Challenges

However, the barriers to the lung cancer surgery techniques and high cost of lung cancer surgery process in some of the regions may impede the less growth of the lung cancer surgery hampering the growth of the market. Additionally, high competition in medical technology industries and long lead time for the overseas qualification can be the challenging factors for the growth of the market

This lung cancer surgery market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on lung cancer surgery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Lung Cancer Surgery Market

All industries, including healthcare, medical device services, automotive, pharmaceutical and many more have been severely disrupted by the new coronavirus. The epidemic has caused supply chain disruptions and shutdowns of large-scale manufacturing, which have had an effect on the economics of almost every country in the world. The non-small cell lung cancer diagnostic sector was also impacted by the pandemic. Patients choose to stay at home rather than receive diagnosis and treatment out of fear of contracting the virus. The healthcare system changed its emphasis on containing COVID-19 as cases increased, delaying the diagnosis and treatment of other chronic illnesses like cancer in the process. As a result, the pandemic scenario is predicted to have a negative effect on the lungs cancer diagnostics industry. As a result, COVID-19 patients occupied all available beds in hospitals and clinics, whereas lungs cancer patients received less attention. Additionally, the market growth has been affected by clinic accessibility issues, social exclusion and population lockdown, all of which slow down referrals and patient flow.

The market for lung cancer surgery, however, may see growth due to a slight easing in COVID-19 cases, which will result in increased demand for lungs cancer diagnosis and surgery with patients coming forward to clinics and hospitals for treatment. Cases of COVID-19 are declining in number and vaccination against it is increasing across the globe.

Recent Development

• In May 2021, Olympus announced today the market launch of the FDA 510(k)-cleared BF-UC190F endobronchial ultrasound (EBUS) bronchoscope, the newest addition to its robust EBUS portfolio of devices for minimally invasive lung cancer diagnosis and staging via needle biopsy.

Global Lung Cancer Surgery Market Scope

Global lung cancer surgery market is segmented into product type, surgical procedure, patient type, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Product Type

• Surgical Instruments
• Monitoring & Visualizing System
• Endosurgical Equipment
• Robotic-Assisted Thoracic Surgery Systems
• Others

On the basis of product type, the global lung cancer surgery market is segmented into surgical instruments, monitoring & visualizing system, endosurgical equipment, robotic-assisted thoracic surgery systems and others.

Surgical Procedure

• Thoracotomy
• Minimally Invasive Surgery

On the basis of surgical procedure, the global lung cancer surgery market is segmented into thoracotomy and minimally invasive surgery.

Patient Type

• Male
• Female

On the basis of patient type, the global lung cancer surgery market is segmented into male and female.

End User

• Hospitals
• Ambulatory & Surgical Centers

• Academic & Research Institutes
• Specialty Cancer Care Center
• Others

On the basis of end user, the global lung cancer surgery market is segmented into hospitals, ambulatory & surgical centres, academic & research institutes, speciality cancer care centers and others.

Distribution Channel

• Direct Tender
• Retail Sales
• Online Sales
• Others

On the basis of distribution channel, the global lung cancer surgery market is segmented into direct tender, retail sales, online sales and others.

Lung Cancer Surgery Market Regional Analysis/Insights         

The lung cancer surgery market is analyzed and market size insights and trends are provided by country, product type, surgical procedure, patient type, end user and distribution channel as referenced above.

Lungs cancer surgery market comprises of the countries U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia, Belgium, Switzerland, Turkey, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel & Rest of Middle East and Africa.

Asia-Pacific dominates the lung cancer surgery market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. China dominates the Asia-Pacific region due to advanced technologies of lung cancer surgery in the country. This is due to rising need of the verification and validation of oncological surgical processes in the region and rapid research development.

The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to high competition from local and domestic brands and impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Lung Cancer Surgery Market Share Analysis

The lung cancer surgery market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth and application dominance. The above data points provided are only related to the companies' focus on lung cancer surgery market.

Some of the major players operating in the lung cancer surgery market are AngioDynamics, Ackermann, Scanlan International, KLS Martin Group, Wexler Surgical, Lepu Medical Technology(Beijing)Co.,Ltd., Intuitive Surgical, FusionKraft, Surgical Holdings, GerMedUSA, Medtronic, Accuray Incorporated, Teleflex Incorporated, KARL STORZ SE & Co. KG, TROKAMED GmbH, Richard Wolf GmbH, Sontec Instruments, Inc., asap endoscopic products GmbH, FUJIFILM Holdings America Corporation, Ambu A/S., Johnson & Johnson Services, Inc, Olympus Corporation and among others.

Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs. Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.

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