The global lung cancer surgery market is projected to reach around US$ 7.3 Bn by 2028, growing at a CAGR of 4% during 2021 to 2028
Cancer is a disease caused due to abnormal cell division without control and that can invade nearby tissues. Cancerous cells can also spread to other organs of the body through the blood and lymph systems. Cancer is the second major leading cause of death after cardiovascular disorders. Lung cancer is a type of cancer that starts from the lung and may spread to other organs. Lung cancer contributes a major reason of all cancer deaths globally. People who smoke and consume tobacco products have the greatest risk of lung cancer. The risk of lung cancer increases with the time period and number of cigarettes smoked or tobacco products consumed. The treatment for lung cancer depends on the type and stage of cancer. Mainly there are 2 types of lung cancer such as small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). Several treatments are available for the treatment of lung cancer viz. chemotherapy, immunotherapy, laser therapy, radiation therapy, targeted therapy, and surgery. Surgery is the final option for the treatment of lung cancer and it involves surgically removal of cancer tissues from the lung. The approaches for surgeries are large incision in the chest wall known as thoracotomy or via video-assisted thoracoscopy (VATS), a procedure in which a scope like device is inserted through small incisions in the chest wall and through which a tumour is removed. Three major types of surgery are done to treat lung cancer and these depend on the degree of infection, size and location of the tumour. These are wedge resection (segmental resection), lobectomy, pneumonectomy. New surgical approaches to robotic surgery and technological developments such as minimally invasive surgical procedures are new trends in the lung cancer market. According to the world health organization, the consumption of tobacco products is the major cause of lung cancer and tobacco contributes around 80% of all lung cancers. As per the WHO report lung cancer cases in developing economies is expected to reach 2,530,820 by 2025.
The increasing prevalence, incidence of lung cancer and the increasing adoption of surgical procedures for lung cancer treatment are the major driving factors for market growth. Sedentary lifestyle, rising air pollution and consumption of tobacco products are the factors responsible for the growth of the market. Rising government support and funding towards R&D would swift the growth of the market. Technological advancements in treatment of lung cancer surgery and arrival of new minimally invasive surgeries are some of the factors fuelling growth of the market. Technological development in endoscopic visual devices and various surgical devices improve the ease of the surgery and have resulted in high success rates during difficult conditions. However, the hefty costs for the treatment of lung cancer and limited medical infrastructure despite high patient pool are some of the factors restraining the market growth.
Segment Analysis by Region
Based on region the global lung cancer surgery market is segmented as North America, Europe, APAC, Latin America and Middle East and Africa. North America is expected to dominate the market due higher prevalence rate of lung cancer coupled with advanced healthcare infrastructure supporting technologically advanced surgeries. After North America, Europe also is anticipated to have a considerable growth in the market as owing to growth in lung ailments. The Asian market is expected to witness the highest growth during the forecast period, primarily due to the presence of rising patient pool, increasing incidence & prevalence of lung cancer, rapid developments in healthcare sector and rising trend of smoking tobacco.
Covid-19 Impact on Global Lung Cancer Surgery Market:
According to an article published by Dana Farber Cancer Institute in 2020, there was a 46% reduction in the surgery of the six most prevalent cancer types including lung cancer because of the Covid-19 pandemic. The lung cancer surgery market is experiencing tremendous challenges during this pandemic to diagnose the virus-related lung symptom and cancer related symptoms, along with higher risk of infection in the hospital setting. Resources requirement has been doubled in diagnosis and treatment of lung cancer due to the covid-19 pandemic, this results in increased expenditure towards healthcare facilities. The pandemic also affects the market indirectly since raised disruptions in demand, manufacturing and supply chain.
Major market key players include Ethicon LLC, Intuitive Surgical, Inc., Karl Storz GmbH & Co. KG, Olympus Corporation, Accuray Inc., AngioDynamics Inc., Teleflex Incorporated, Ackermann Instrumente GmbH, Medtronic Plc., Siemens Healthcare, Surgical Holdings, Wexler Surgical Inc, Covidien PLC, Scanlan International Inc.
Lung Cancer Surgery Market Segment Analysis, 2021
The global lung cancer surgery market is segmented as Product, Procedure, End-user and Geography. The Product segment is further sub-segmented as surgical instruments and monitoring & visualization system. The Procedure segment is further bifurcated as thoracotomy and minimally invasive surgeries. The End-user segment is diversified into hospitals/clinics, ambulatory surgical centers and research laboratories. The surgical instruments segment is expected to hold the largest lung cancer surgery market share owing to the rising number of patients requiring lung cancer surgeries.
Market By Product
Monitoring And Visualization System
Market By Procedure
Minimally Invasive Surgeries
Market By End-User
Ambulatory surgical centers
The global Lung Cancer Surgery Market in 2027 is expected to be above US$ 7.3 Bn.
The CAGR of the global Lung Cancer Surgery Market from 2020-2027 is 4.0%
Rising incidences and prevalence of lung cancer due to lifestyle change, smoking habits, and genetic inheritance is the major factor expected to drive the global market.
In Product, surgical instruments Segment is expected to grow faster.
In the global market the Asia Pacific region is expected to grow faster.
Ethicon US LLC, Intuitive Surgical, Inc., Karl Storz GmbH & Co. KG, Olympus Corporation, Accuray Inc., Angio Dynamics Inc., Medtronic Plc., Siemens Healthcare, Surgical Holdings, Wexler Surgical Inc, Covidien PLC, Scanlan International Inc.
North America is expected account for major market revenue share in global market.