Lung Cancer Surgery Market Projected to Reach USD 20.2 billion with Registering at a CAGR of 5.6% by 2031| Transparency Market Research Inc.

Collaborative efforts among healthcare stakeholders promote knowledge sharing and best practices, driving advancements in lung cancer surgery.

Wilmington, Delaware, United States, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global lung cancer surgery market is estimated to flourish at a CAGR of 5.6% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for lung cancer surgery is estimated to reach US$ 20.2 billion by the end of 2031. 

An emerging driver in the lung cancer surgery market revolves around value-based care models. Healthcare systems are shifting focus towards outcome-based reimbursements and value-driven care approaches, influencing lung cancer surgery. This driver emphasizes improved patient outcomes, reduced hospital readmissions, and cost-effectiveness, compelling providers to optimize treatment strategies and enhance post-operative care protocols to align with these models. 

There is a growing interest in patient-centric approaches through holistic care programs. Integrating psychosocial support, rehabilitation services, and survivorship programs into lung cancer surgery treatments caters to patients' overall well-being, addressing not only the physical aspects but also emotional and social needs post-surgery. 

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The exploration of novel biomarkers for predictive diagnostics stands as a lesser-known trend. Identifying reliable biomarkers specific to lung cancer aids in early detection, prognosis, and treatment response assessment, guiding personalized therapeutic decisions and improving clinical outcomes.

Lung Cancer Surgery Market: Competitive Landscape

The lung cancer surgery market brims with competitive vigor, led by key players like Medtronic, Ethicon Inc., and Intuitive Surgical. These industry giants dominate with advanced surgical devices and robotic-assisted systems, enhancing precision and minimizing invasiveness. Emerging contenders such as Accuray Incorporated and Olympus Corporation expand the market with innovative imaging tools and endoscopic solutions.

Regional players like Karl Storz and Teleflex Incorporated bolster the landscape, focusing on specialized surgical instruments and video-assisted thoracic surgery (VATS) techniques. This competitive environment fuels continual advancements in lung cancer surgical interventions, aiming for improved patient outcomes and minimally invasive approaches in thoracic oncology. Some prominent manufacturers are as follows:

  • Medtronic
  • Siemens Healthineers
  • Accuray Incorporated
  • Olympus Corporation
  • Intuitive Surgical
  • Ethicon (Johnson & Johnson Services Inc.)

Product Portfolio

  • Accuray Incorporated pioneers radiation therapy solutions, offering the CyberKnife and Radixact systems. Their cutting-edge technology enables precise, non-invasive cancer treatments, providing clinicians with advanced tools for personalized patient care and improving outcomes in oncology.
  • KARL STORZ leads in endoscopy and minimally invasive surgery, providing innovative medical devices and imaging systems. Their portfolio includes flexible endoscopes, visualization systems, and surgical instruments, advancing medical diagnostics and interventions globally.
  • Olympus Corporation specializes in precision technology, delivering state-of-the-art medical devices and imaging solutions. Renowned for endoscopic systems, cameras, and scientific instruments, Olympus innovates with reliable, high-quality products, empowering medical professionals and researchers in advancing diagnostics and scientific exploration.

Key Findings of the Market Report

  • Lobectomy holds prominence in the lung cancer surgery market due to its efficacy and widespread adoption for treating lung cancer.
  • Minimally invasive surgery leads the lung cancer surgery market, surpassing traditional thoracotomy due to reduced invasiveness and improved patient outcomes.
  • Hospitals lead the lung cancer surgery market due to advanced facilities, specialized care, and comprehensive treatment options for thoracic oncology. 

Lung Cancer Surgery Market Growth Drivers & Trends

  • Growing preference for VATS and robotic-assisted surgeries, reducing patient trauma and enhancing post-operative recovery in lung cancer treatments.
  • Innovations in imaging, navigation systems, and surgical devices improve precision and expand treatment options for lung cancer surgeries.
  • Advancements in genomics and targeted therapies fuel the adoption of precision medicine, offering tailored treatment approaches for lung cancer patients.
  • Increasing cases of lung cancer worldwide drive demand for surgical interventions, prompting advancements in oncological surgery techniques and technologies.
  • Expanding healthcare infrastructures in developing regions facilitate access to advanced surgical procedures, fostering market expansion and improving patient outcomes.

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Global Lung Cancer Surgery Market: Regional Profile

  • In North America, advanced healthcare systems and high adoption rates of minimally invasive surgeries propel the lung cancer surgery market. Key players like Medtronic and Ethicon Inc. offer sophisticated surgical devices, contributing to advanced treatment options and research in thoracic oncology.
  • Europe stands as a hub for cutting-edge medical innovations with companies like KARL STORZ and Olympus Corporation leading in minimally invasive surgical solutions. The region prioritizes research and development, emphasizing personalized treatments and oncology advancements.
  • The Asia Pacific witnesses a surge in demand for lung cancer surgeries due to increasing cancer prevalence. Companies like Teleflex Incorporated and Accuray Incorporated provide innovative surgical tools and radiation therapy systems, catering to the region's evolving healthcare needs. Rapid technological integration and rising investments in healthcare infrastructure drive market growth, promoting access to advanced lung cancer treatments across diverse populations.

Lung Cancer Surgery Market: Key Segments

By Procedure

  • Lobectomy
  • Segmentectomy
  • Wedge Resection
  • Pneumonectomy

By Approach

  • Thoracotomy
  • Minimally Invasive Surgery

By End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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