Global Lung Cancer Surgery Market Size to Reach USD 7.40 Billion in 2030 | Emergen Research

Vancouver, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The global market for lung cancer surgery had a valuation of USD 5.72 Billion in 2021 and is projected to experience a Compound Annual Growth Rate (CAGR) of 2.8% in terms of revenue throughout the forecast period, as per the latest analysis conducted by Emergen Research. The rise in the prevalence of lung cancer, attributed to sedentary lifestyles, stands out as a significant driver for the growth of market revenue. Notably, lung cancer is the most common cause of global cancer-related mortalities. In the United States alone, approximately 236,740 individuals received a lung cancer diagnosis in 2022.

The usage of tobacco products, including e-cigarettes, is prevalent among middle and high school students, totaling around 3.08 million, while cigarette smoking persists among nearly 40 million American adults. The economic impact of these health habits is substantial, with the U.S. dedicating around USD 225 billion annually to medical treatments addressing diseases arising from adult smoking.

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Furthermore, the progression of surgical instruments through technological innovation stands as another pivotal catalyst behind the expansion of market revenues. A noteworthy instance lies in the unveiling of the EEA Circular Stapler with Tri-Staple Technology by India Medtronic Private Limited, a wholly-owned subsidiary of Medtronic plc., in December 2020. This pioneering instrument marks the world's premiere 3-row Circular Stapler featuring variable height staples. Distinguished by a sloping cartridge face, this technology mitigates tissue stress, ensuring consistent efficacy across a diverse range of tissue thicknesses, and augments perfusion along the staple line.

However, the growth of the lung cancer surgery market is tempered by the potential risks entailed in post-operative procedures. Risks encompass infections, hemorrhages, prolonged air leakage from the lungs, and discomfort, all of which are inherent to the process. Pain emerges as the predominant aftermath of this procedure, manifesting as discomfort along the ribs and at the incision site, which generally abates over a span of days to weeks. Yet, a subsequent hazard is the occurrence of post-thoracotomy pain syndrome, a condition characterized by prolonged chest discomfort due to nerve injury that persists for months following a thoracotomy.

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Scope of Research

Major Companies and Competitive Landscape

The global lung cancer surgery market is fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, and introducing more effective surgical products. Some major players included in the global lung cancer surgery market report are:

• Accuray Incorporated
• General Electric Company
• Johnson and Johnson Services, Inc.
• Siemens Healthcare GmbH
• Olympus Corporation
• Teleflex Incorporated
• B. Braun SE
• Medtronic plc
• AngioDynamics, Inc.
• FUJIFILM Holdings Corporation

Strategic Development

• On December 2020, Olympus Corporation announced the completion of its purchase of Veran Medical Technologies, Inc. following the signing of a definitive agreement. Olympus subsidiary Olympus Corporation of Americas (OCA) acquires VMT's global sales network, marketing, manufacturing, Research & Development (R&D), and other services to extend Olympus respiratory product line.
• On May 2021, FDA 510(k)-cleared BF-UC190F Endobronchial Ultrasound (EBUS) bronchoscope, the latest addition to Olympus' extensive EBUS portfolio of devices for minimally invasive lung cancer detection and staging by needle biopsy. BF-UC190F enables medical professionals to reach and sample challenging sites, such lymph nodes in the Mediastinum (4L) and Hilum (10R)

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Some Key Highlights From the Report

• The surgical instruments segment accounted for a significant revenue share in 2021. Advanced surgical tools have improved flexibility and convenience of use of devices in complex surgical operations, which promotes lung cancer surgical procedures. Furthermore, technological advancement has aided expansion of the surgical energy instruments segment. Power surgical instruments save surgery times by providing steady performance and top-notch functionality. These are the key factors affecting transition from manual to powered surgical equipment.
• The thoracotomy segment accounted for a significant revenue share in 2021. A thoracotomy is a surgical technique that involves making an incision between  ribs to examine and access lungs or other organs in the chest or thorax. This surgical procedure is less expensive than open chest surgery conducted by a thoracotomy, which is expected to drive market revenue growth. Its various other benefits, such as fewer issues, faster healing, shorter hospital stays, and less blood loss, are also expected to drive revenue growth of this segment during the forecast period.
• The North America market accounted for largest revenue share in 2021 due to significant investments in healthcare facilities. In addition, presence of key players is also expected to drive revenue growth of the market. For instance, in February 2020, Intuitive, a worldwide technological leader in minimally invasive care and pioneer of robotic-assisted surgery, announced to acquire Orpheus Medical, a privately owned company, to deepen and expand its integrated informatics platform. Orpheus Medical provides hospitals with information technology connection as well as experience in surgical video processing and archiving.

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Emergen Research has segmented the global lung cancer surgery market based on device, surgery type, end-use, and region:

• Device Outlook (Revenue, USD Billion; 2019-2030)
  • Surgical Instruments
  • Monitoring Devices
  • Endoscopic Instruments
• Surgery Type Outlook (Revenue, USD Billion; 2019-2030)
  • Thoracotomy
  • Minimally Invasive Surgeries
• End-Use Outlook (Revenue, USD Billion; 2019-2030)
  • Cancer Hospitals
  • Ambulatory Surgical Centers
• Regional Outlook (Revenue, USD Billion; 2019-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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