New York, United States, June 25, 2024 (GLOBE NEWSWIRE) -- The Global Lung Cancer Surgery Market Size is to Grow from USD 5.91 Billion in 2023 to USD 9.92 Billion by 2033, at a CAGR of 5.32% during the projected period.
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Lung surgery is a choice for specific patients depending on the type, location, and stage of lung cancer and other medical issues. Surgery is used to try to treat lung cancer. Almost all surrounding lung tissue and frequently the lymph nodes near the tumor are removed along with the tumor. When a patient's cancer is localized and unlikely to have spread, surgically removing the tumor is thought to be the best option. Thoracotomy or minimally invasive surgery are the two main methods utilized to remove a portion of the lung. The choice is based on the surgeon's experience as well as the tumor's size, location, and stage. The market for lung cancer surgery has been significantly influenced by the rising incidence of lung cancer around the globe. Increasing product promotions are expected to propel market expansion during the estimated period. Improving patient survival rates has become dependent on early detection of lung cancer. However, the excessive expenses make the procedure unaffordable for many people who lack the necessary health insurance. Difficulties following lung cancer surgery provide a significant obstacle to the expansion of the worldwide market for lung cancer surgery. Significantly impeding the lung cancer market's expansion is the general lack of knowledge about lung cancer and available treatment options in emergent regions.
Browse key industry insights spread across 190 pages with 120 Market data tables and figures & charts from the report on the “Global Lung Cancer Surgery Market Size, Share, and COVID-19 Impact Analysis, By Device (Surgical Instruments, Monitoring & Visualizing Systems, and Endosurgical Equipment), By Procedure (Thoracotomy and Minimally Invasive Surgeries), By End-User (Hospitals and Ambulatory Surgery Centers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The surgical instruments segment dominates the market with the largest revenue share through the predicted timeframe.
Based on the device, the global lung cancer surgery market is segmented into surgical instruments, monitoring & visualizing systems, and endosurgical equipment. Among these, the surgical instruments segment dominates the market with the largest revenue share through the predicted timeframe. Surgical instruments are vital tools used in lung cancer surgeries for various treatments such as suturing, tissue separation, and tumor excision. Surgical instruments are primarily utilized in lobectomies, wedge resections, and pneumonectomies, among other forms of lung cancer procedures.
The minimally invasive surgeries segment dominates the global lung cancer surgery market over the predicted timeframe.
Based on the procedure, the global lung cancer surgery market is segmented into thoracotomy and minimally invasive surgeries. Among these, the minimally invasive surgeries segment dominates the global lung cancer surgery market over the predicted timeframe. Patients recover more quickly and have fewer complications as a result of the technique's less invasiveness and small incisions. Patients will feel less anxious as their healing progresses and can return to their regular activities as soon as possible.
The hospitals segment dominates the global lung cancer surgery market over the predicted timeframe.
Based on the end-users, the global lung cancer surgery market is segmented into hospitals and ambulatory surgery centers. Among these, the hospitals segment dominates the global lung cancer surgery market during the predicted timeframe. Traditionally, hospitals have been the primary location for lung cancer surgery because of their sophisticated facilities, well-organized operations, and easy access to a multidisciplinary team of medical professionals. Numerous services are offered by hospitals, including follow-up care, preoperative evaluations, surgical procedures, postoperative care, and diagnostic imaging.
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North America dominates the market with the highest market share during the forecast period.
North America dominates the market with the highest market share over the forecast period. Lung cancer instances are common in North America, which also has highly developed healthcare facilities and sophisticated surgical procedures. In addition, there is a strong emphasis on early identification, good treatment options, and potential compensation plans, all of which contribute to North America's market dominance. North America offers access to cutting-edge surgical techniques and has established healthcare systems, especially in the United States and Canada. Over the anticipated period, these factors grow the market for lung cancer surgery in this region.
Asia Pacific region is expected to grow rapidly during the forecast period. The Asia Pacific region is experiencing rapid expansion due to several factors, including an increase in lung cancer diagnoses, increased knowledge of early detection and treatment, improved healthcare facilities, and more funding for healthcare. Significant advancements in lung cancer surgery are being seen by nations such as China, Japan, and India, as they strive to adopt cutting-edge surgical methods and technologies. Over the anticipated period, these factors propel the growth of the lung cancer surgery market in the Asia Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global lung cancer surgery market are Johnson & Johnson, Ethicon, Karl Storz SE & Co. KG, Medrobotics Corporation, Accuray Incorporated, Novartis AG, Boston Scientific Corporation, AngioDynamics, Becton, Dickinson and Company, Stryker Corporation, Olympus Corporation, Teleflex Incorporated, Siemens Healthineers AG, GE Healthcare, and Other Key Players.
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Recent Developments
- In July 2022, the first lung ablation procedure in history was carried out by Medtronic utilizing the ILLUMISITE fluoroscopic navigation platform. Through multidirectional sampling, this minimally invasive technique can deliver a thorough biopsy and permits precision navigation to even the most remote areas of the lung.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global lung cancer surgery market based on the below-mentioned segments:
Global Lung Cancer Surgery Market, By Device
- Surgical Instruments
- Monitoring & Visualizing Systems
- Endosurgical Equipment
Global Lung Cancer Surgery Market, By Procedure
- Thoracotomy
- Minimally Invasive Surgeries
Global Lung Cancer Surgery Market, End-User
- Hospitals
- Ambulatory Surgery Centers
Global Lung Cancer Surgery Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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