The global market for lung cancer surgery is expected to reach $7.8 billion by 2030 from $3.5 billion in 2022, registering impressive expansion at a compound annual growth rate (CAGR) of 4.1%. The Global Lung Cancer Surgery Market is dominated by major players such as Accuray Inc., AngioDynamics Inc., Ethicon US, LLC, Intuitive Surgical Inc., Olympus Corporation, and Teleflex Incorporated, among others.

Chicago, May 15, 2023 (GLOBE NEWSWIRE) -- According to the new market research report “Global Lung Cancer Surgery Market by Instrument ((Clamps, Forceps, Trocars, Retractors, Scissors), Monitoring & Endoscopic Devices), Procedure (Thoracotomy (Lobectomy, Pneumonectomy, Segmentectomy, Sleeve Resection), MIS), Volume Data, Supply & Demand Side Analysis, and Segment Forecasts, 2023-2030”, published by Delvens. The Global Lung Cancer Surgery Market is expected to reach $7.8 billion by 2030 from $3.5 billion in 2022, registering impressive expansion at a compound annual growth rate (CAGR) of 4.1%.

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Lung Cancer Surgery Market report gives details about the market drivers and market restraints that help in knowing rise or fall of the demand of particular product with respect to market conditions. This industry analysis report comprises of estimations of recent state of the market, CAGR values, market size and market share, revenue generation, and necessary changes required in the future products. Strategic aspects of the Lung Cancer Surgery industry such as product development and specification, technology, niche growth opportunities, application modelling, and new geographical markets can be undertaken with the vast information and data included in this Lung Cancer Surgery Market report.

Due to the increased incidence of lung cancer, technological developments, and the fact that people can now start treatment at an early stage, it is projected that the market for lung cancer surgery will expand even further.

Segmentectomy, a common surgical technique, is an option for the treatment of non-small cell lung cancer (NSCLC). It is often chosen over lobectomy if the patient already has a significantly reduced lung reserve. Even though lung segmentectomy has long been the favoured procedure for eliminating benign tumours and accompanying lesions, it is often suggested for patients with very early-stage lung cancer. Because it provides better results than traditional surgical techniques and needs less recovery time, this technique is gaining popularity.

The studies market is expected to grow as a result of these advantages. With improved survival rates and some degree of organ function preservation, segmentectomy surgery has a high success rate for removing targeted tumours and malignancies.

However, segmentectomy-related risks such as excessive bleeding, blood clot formation, pneumonia, and surgical wound infection are increased by general anaesthesia.

Lung Cancer Surgery Market Overview

The product portfolio has been improved as a result of increased rivalry and ongoing technical improvements; as a result, product approvals and product development are two of the main developmental methods used by market participants in the global market for cancer treatments. For instance, Roche's Alecensa (alectinib) was approved by the Swiss authority for the licencing and monitoring of therapeutic products (Swissmedic) as a first-line treatment for patients with advanced or metastatic ALK-positive non-small cell lung cancer (NSCLC).  Similarly to this, the U.S. FDA approved the use of Roche's skin cancer medication Zelboraf in patients with Erdheim-Chester Disease, a rare form of blood cancer. Similar to this, Health Canada approved Janssen's Zytiga (abiraterone acetate) in February 2018 for the treatment of patients with newly diagnosed, high-risk metastatic hormone-sensitive prostate cancer (mHSPC) who have already received up to three months of prior ADT. Additionally, the European Commission (EC) expanded its approval to imply Zytiga in November 2017 for the treatment of newly diagnosed high-risk metastatic hormone-sensitive prostate cancer (mHSPC) in men when combined with androgen deprivation therapy (ADT).

Lung Cancer Surgery Market Report Scope

Report Feature	Descriptions
Growth Rate	CAGR of 4.1% during the forecasting period, 2023-2030
Historical Data	2019-2021
Forecast Years	2023-2030
Base Year	2022
Units Considered	Revenue in USD billion and CAGR from 2023 to 2030
Report Segmentation	Type, Application, and Region.
Report Attribute	Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling
Regional Level Scope	North America, Europe, Asia-Pacific, South America, and Middle East and Africa
Country Level Scope	U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)
Companies Profiled	Accuray Inc., AngioDynamics Inc., Ethicon US, LLC, Intuitive Surgical Inc., Olympus Corporation, Teleflex Incorporated, Ackermann Instrumente GmbH, KARL STORZ GmbH, Scanlan International Inc., TROKAMED GmbH, Medtronic Plc., Siemens Healthcare, Richard Wolf GmbH, Phoenix Surgical Holdings Limited, Key Surgical LLC, Surgical Holdings, FusionKraft, KLS Martin Group, Sontec Instruments Inc., and Wexler Surgical Inc.
Available Customization	In addition to the market data for Lung Cancer Surgery Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirement.

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Key Companies & Market Share Insights

Some of the key players operating in the global lung cancer surgery market are Accuray Inc., AngioDynamics Inc., Ethicon US, LLC, Intuitive Surgical Inc., Olympus Corporation, Teleflex Incorporated, Ackermann Instrumente GmbH, KARL STORZ GmbH, Scanlan International Inc., TROKAMED GmbH, Medtronic Plc., Siemens Healthcare, Richard Wolf GmbH, Phoenix Surgical Holdings Limited, Key Surgical LLC, Surgical Holdings, FusionKraft, KLS Martin Group, Sontec Instruments Inc., and Wexler Surgical Inc. among others.

Recent Developments

• The endobronchial ultrasound (EBUS) bronchoscope BF-UC190F was introduced by Olympus Corporation (Japan) in May 2021.
• Intuitive Surgical Inc. (US) purchased Orpheus Medical (US) in February 2020.
• At its location in Jacksonville, Florida, US, KLS Martin Group (Germany) established a new training facility in October 2019.

Lung Cancer Surgery Market Segmentation Analysis

The market for lung cancer surgery was dominated by the surgical instruments category, according to surgical devices

The market is segmented into endosurgical equipment based on devices, monitoring and visualisation equipment, and surgical instruments. The category of surgical instruments held the biggest market share. The rising incidence and prevalence of lung cancer, the rising government funding and support, and the expanding use of surgical methods for lung cancer therapy are the drivers propelling market expansion.

According to Surgical Procedures, the lung cancer surgery market's thoracotomy sector held the biggest market share.

The two procedure-based market segments are thoracotomies and minimally invasive operations. Thoracotomies made up the greatest amount of the market share for lung cancer surgery. However, it is predicted that the minimally invasive surgery segment will expand at the fastest rate throughout the forecast period. Rising technological breakthroughs, expanding use of minimally invasive procedures, the availability of reimbursement programmes, and the growing acceptance of robotic surgery are some of the reasons driving this market segment's rise.

Regional Insights

The greatest regional market for lung cancer surgery is in North America.

North America held the largest market share. The substantial share of North America can be linked to the rising incidence, prevalence, and incidence of lung cancer, the rise in tobacco use, the growing importance of early cancer detection and treatment, and the availability of reimbursement.

Lung Cancer Surgery Market Outlook

Driver: Increasing lung cancer incidence

In 2020, cancer will be the second-leading cause of mortality globally, with 10 million deaths expected. According to the World Health Organisation, cancer is responsible for roughly 1 in 6 deaths worldwide. In 2020, 19.3 million new cases were reported. The rise in global cancer incidence also points to a rising trend in the prevalence of lung malignancies everywhere. In this situation, which is distinguished by a supportive financial environment and efficient treatment alternatives, it is anticipated that a greater number of patients would choose lung cancer surgery over the next several years due to the rising incidence and prevalence of cancer. In consequence, it is anticipated that this will fuel market expansion during the ensuing years.

Restraint: The high cost of diagnosing and treating lung cancer

Therapies for lung cancer can be broadly categorised into four groups: diagnosis/imaging, operations, pharmaceutical support, and indirect costs (such as travel, carer salaries, housing, secondary effects therapies, and missed wages/incomes). These areas receive a lot of spending from the government, insurance providers, and patients themselves. Governments all around the world, as well as cancer patients, have been severely burdened by the high cost of treating lung cancer. Although there is a vast patient pool, a tiny proportion of patients choose surgical treatments to address their diseases because of the high expenses. The expansion of the market is severely hampered by this.

Challenge: A shortage of knowledgeable oncologists

To achieve better results, skilled doctors perform lung cancer procedures. These procedures are regarded to offer higher risks than other surgeries because of things like air leaks, tumour movement brought on by breathing, and fluid buildup in the chest during the procedure. The incidence and frequency of lung cancer have increased over time and are expected to do so in the years to come. However, the number of oncologists has not expanded since that time, and the problem is worse in underdeveloped countries. The ageing and expanding population, as well as rising cancer survival rates, are driving forces behind the rise in demand; yet, the slow or trailing growth in trained labour is due to factors including the ageing of the oncology workforce and rising retirement rates.  

Global Lung Cancer Surgery Market Table of Contents

Type Outlook

• Surgical instruments
• Monitoring and visualizing systems
• Endosurgical equipment

Surgical procedures outlook

• Thoracotomy
• Minimally invasive surgeries

Regional Outlook 

• Europe
  • • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Sweden
    • Austria
    • Finland
    • Belgium
    • Turkey
    • Russia
    • Poland
    • Hungary
    • Czech Republic
    • Switzerland
    • Netherlands
    • Rest of Europe
• North America
  • • U.S.
    • Canada
    • Mexico
• Asia-Pacific
  • • Japan
    • China
    • India
    • Australia
    • South Korea
    • Vietnam
    • New Zealand
    • Philippines
    • Thailand
    • Malaysia
    • Hong Kong
    • Taiwan
    • Singapore
    • Indonesia
    • Sri Lanka
    • Rest of Asia-Pacific
• South America
  • • Brazil
    • Argentina
    • Chile
    • Colombia
    • Rest of South America
• Middle East And Africa
  • • South Africa
    • U.A.E.
    • Saudi Arabia
    • Oman
    • Qatar
    • Iran
    • Egypt
    • Rest of Middle East and Africa

Key Players of the Lung Cancer Surgery Market

• Accuray Inc.
• AngioDynamics Inc.
• Ethicon US, LLC
• Intuitive Surgical Inc.
• Olympus Corporation
• Teleflex Incorporated
• Ackermann Instrumente GmbH
• KARL STORZ GmbH
• Scanlan International Inc.
• TROKAMED GmbH
• Medtronic Plc.
• Siemens Healthcare
• Richard Wolf GmbH
• Phoenix Surgical Holdings Limited
• Key Surgical LLC
• Surgical Holdings
• FusionKraft
• KLS Martin Group
• Sontec Instruments Inc.
• Wexler Surgical Inc.

The Lung Cancer Surgery Market research report provides market forecast information, considering the history of the industry, the future of the industry with respect to what situation it may face, it will grow or it will fail. Inputs of various industry experts, required for the detailed market analysis, have been used very carefully to structure this finest Lung Cancer Surgery Market research report. A team of innovative analysts, enthusiastic forecasters, knowledgeable researchers, and experienced industry experts work meticulously, 24*7 to structure this most excellent market report.

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