Wilmington, Delaware, United States,, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global Lung Cancer Surgery Market is likely to expand at a CAGR of 5.6% between 2023 and 2031. The increase in cases of lung cancer worldwide is projected to increase the number of lung cancer surgeries performed during the forecast period. The introduction of advanced technologies such as robotic surgery and video-assisted thoracoscopic surgery (VATS) in cancer treatment is expected to promote the growth of the global lung cancer surgery market in the long run.
A rise in awareness and an increase in the popularity of minimally invasive surgeries is anticipated to boost market development for lung cancer surgery. Minimally invasive surgeries not only make cancer treatment more bearable and less painful but also reduces the overall hospital stay and improve patient outcomes. These aspects of lung cancer surgeries are likely to boost business growth during the forecast period.
According to the TMR report, the global lung cancer surgery market value is likely to reach US$ 20.2 Bn by the end of 2031. The rise in global cases of lung cancer is a prime growth driver boosting the need for lung cancer surgery
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Key Findings of Study
- Advances in Surgical Techniques: Major technological advancements in new surgical techniques such as minimally invasive surgeries have gained traction with their success rates in the past couple of years. Such advancements in surgical technology and procedures are likely to help create lucrative business opportunities for the global lung cancer surgery market during the forecast period. Besides this, innovations in surgical treatment for cancer offers added advantages such as lesser complications, less pain, and better results as compared to the traditional surgical procedures. These factors are anticipated to help promote industry growth during the forecast period.
- Advent of 3D-printed Models for Surgeries: The use of 3D printed models for surgical procedures has been beneficial for lung cancer surgeries. Minimally invasive surgeries offer robot-assisted thoracic surgery and video-assisted thoracoscopic surgery (VATS), which have lessened the invasiveness of lung cancer surgeries, thereby resulting in faster patient recovery. Therefore, the increase in adoption of 3-D printed models for surgical procedures is likely to aid in market expansion in the next few years.
Key Drivers
- Rise in prevalence of lung cancer cases is expected to boost demand for surgery, thus, driving market growth
- Increase in adoption of minimally invasive techniques for cancer treatment is anticipated to promote market development
- High success rate of lobectomy procedures for cancer treatment is projected to help increase market size
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Regional Growth Dynamics
- North America is anticipated to account for dominant share in the global lung cancer surgery market. Substantial patient pool and availability of better therapeutic and surgical approaches are major factors driving the dominance of the region.
- The rise in cases of lung cancer in Canada and the United States are projected to augment the need for surgical treatment options for patients. This, along with the presence of high-income population and favorable medical reimbursement policies are likely to help North America continue dominating the overall market in the coming years.
- Asia Pacific is expected to emerge as the fastest growing market for lung cancer surgery during the forecast period. This can be ascribed to the presence of a high smokers’ population and the establishment of better medical infrastructure and facilities in emerging nations of the region.
Key Players
Prominent players in the global lung cancer surgery market include
- Ethicon (Johnson & Johnson Services Inc.),
- Intuitive Surgical,
- Olympus Corporation,
- KARL STORZ,
- Accuray Incorporated,
- Siemens Healthineers, and Medtronic.
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Lung Cancer Surgery Market Segmentation
Procedure
- Lobectomy
- Segmentectomy
- Wedge Resection
- Pneumonectomy
Approach
- Thoracotomy
- Minimally Invasive Surgery
End-user
- Hospitals
- Ambulatory Surgical Centers
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Countries
- U.S.
- Canada
- Germany
- U.K.
- France
- Italy
- Spain
- Japan
- China
- India
- GCC Countries
- South Africa
- Brazil
- Mexico
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