According to the DataM market research report, the global lung cancer surgery market is growing at a CAGR of 5.2% over the forecast period 2023-2030

LOS ANGELES, GREATER LOS ANGELES, USA, March 15, 2023 /EINPresswire.com/ -- Market Overview:

Surgery to treat lung cancer entails the removal of the entire or afflicted portion of the lung. Patients with early-stage lung cancer who are otherwise healthy enough to undergo surgery may receive the recommendation. For some patients with more advanced lung cancer, it might also be advised in order to reduce symptoms or enhance the quality of life. Surgery for lung cancer should only be chosen after carefully measuring the risks and complications and consulting with a skilled healthcare professional.

Market Size Growth Rate:

According to the DataM market research report, the global lung cancer surgery market size was valued at US$ billion in 2022, it is projected to reach US$ 7.16 billion by 2030, with growth at a CAGR of 5.2% over the forecast period 2023-2030. North America is estimated to contribute 39.8% to the growth of the global market over the forecast period.

One of the most prevalent malignancies in the world, lung cancer is becoming more prevalent. Lung cancer procedures are now in increasing demand as a result of this. The use of robotic assistance during surgery and less invasive procedures have improved the safety and efficacy of lung cancer operations. Due to this, both the number of patients who qualify for surgery and the demand for these operations has increased. But the cost of lung cancer surgery can be prohibitive for some patients, especially those who lack proper health insurance coverage.

Market Drivers:

Any disease that can affect any region of the body is referred to as cancer. Neoplasms and malignant tumors are other words that are used. The second most frequent cancer worldwide is lung cancer. Also, it is the second most prevalent cancer in women and the most prevalent cancer in men. WHO estimates that cancer will be the primary cause of roughly 10 million deaths worldwide in 2020. In 2020, lung cancer will be the most prevalent type of new cancer cases (2.21 million cases). And In 2020, lung cancer accounted for 1.80 million cancer-related deaths.
In addition, it is anticipated that by 2035, there would be 3 million lung cancer fatalities worldwide. The numbers will increase from 1.1 million in 2012 to 2.1 million in 2035 for men and from 0.5 million in 2012 to 0.9 million in 2035 for women, and the gender gap will remain two to one. The increasing number of lung cancer cases lead to increasing demand for lung cancer surgery worldwide.

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Market Restraints:

It is anticipated that the lung cancer industry's high cost of surgery may hamper its growth. The costs of treating stage 0 lung cancer are typically quite low. The malignancy has not progressed to any other tissues and is contained in the lining of the airways. Surgery is frequently used as a form of treatment to remove malignant tissue. This procedure may cost between $5,000 and $10,000.
Stage I lung cancer treatment typically costs $30,000. Radiation therapy is frequently used after surgery to remove the tumor. Stage II lung cancer treatment typically costs $40,000. The tumor and lymph nodes are often removed surgically, then radiation therapy or chemotherapy is used as treatment. Lung cancer in Stage III often costs $50,000 to treat. Radiation therapy and chemotherapy are frequently administered after surgery to remove the tumor.

Market Opportunities:

The most prevalent type of tumor is lung cancer, which has emerged as one of the major life-threatening conditions. The surgical treatment of lung cancer is advancing steadily due to advances in technology and public awareness of the disease. Lung cancer patients now have more options for therapy because of novel radiation treatments combined with technologically aided procedures like VATS or robotic surgery. Precision treatment, which is at the cutting edge of surgical innovation, is replacing standard thoracotomies with minimally invasive thoracic surgery in the treatment of lung cancer.

COVID-19 Impact Analysis:

The COVID-19 pandemic affected the lung cancer surgery market strongly. Health systems around the world are being challenged by the COVID-19 pandemic. Restrict access to healthcare could cause oncological diseases to be undiagnosed longer and have worse treatment outcomes. The pandemic provided a specific difficulty for the cancer community by limiting the number of places in oncology departments, obstructing access to tests, and stopping or terminating the treatment regimen. As per the article published in Current Oncology in 2022, during the first year of the epidemic, there was a 35% decline in new lung cancer diagnoses and a 64% decline in lung cancer procedures. As of 2023, the COVID-19 situation is recovering and all patients can access the healthcare facilities which drive lung cancer surgery worldwide.

Recent Developments in the Industry:

1. In December 2022, the targeted imaging agent Pafolacianine, also known as Cytalux, has been given the FDA's approval for use in lung cancer surgery. When activated by near-infrared light, this injectable diagnostic attaches to diseased tissue and glows, making it simpler for surgeons to totally remove tumors while sparing healthy tissue.

2. In July 2021, The SureForm robotic-assisted surgical (RAS) stapler has been introduced by Intuitive India. It features SmartFire technology, an integrated piece of software. In order to optimize a constant staple line and prevent tissue damage across a range of tissue thicknesses, SmartFire automatically modifies the firing process as staplers are generated and as the transaction is being made at a rate of 1,000 or more measurements per second.

Market Segmentation:

As per the research analysis, the global lung cancer surgery market is segmented into Surgical Devices (Surgical Instruments, Hand Instruments (Stapler, Forceps, Retractors, Rib Shear, Trocars, Cutters, Clamps, Scissors, Elevators, and Others), Monitoring and Visualizing Systems (Cameras and Video Support and Endoscopic Trocars with Optical View), Endosurgical Equipments), by surgical procedures (Thoracotomy, (Lobectomy, Sleeve Resection, Segmentectomy, Pneumonectomy), and Minimally Invasive Surgeries), by end user (Hospitals, Specialty Clinics and Ambulatory Surgical Centers, Others).

1. Based on surgical procedures, the lobectomy (Thoracotomy) segment is estimated to contribute 70% to the growth of the global market over the forecast period (2023-2030). A complete lung lobe may be removed during a lobectomy for a number of medical conditions, such as benign tumors, infections, or lung cancer. The right lung has three lobes, while the left lung has two lobes. Depending on the type of diagnosis, the operation involves either a few small incisions (minimally invasive) or a single longer incision (thoracotomy) on the chest side. In either case, because of the potential for illness or cancer to spread, adjacent lymph nodes are also removed in addition to a lobe.

Geographical Classification:

The global lung cancer surgery market is segmented into major countries, including North America, Europe, South America, Asia Pacific and Middle East & Africa.

Asia-Pacific Lung Cancer Surgery Market:

One of the most prevalent cancers in Asia is lung cancer, which has a high incidence rate in nations like China, Japan, and South Korea. As a result, there is a rising need for lung cancer procedures in the region. With an expected 1.1 million deaths from lung cancer in 2020, Asia-Pacific sees lung cancer as the primary cause of cancer fatalities. Doctors in India are calling for tough action to be taken against air pollution, which is thought to be one of the factors contributing to a surge in lung cancer cases in the country.

North America Lung Cancer Surgery Market:

The increasing cases of lung cancer and advances in technology drive the market in the North American region. The most common type of cancer that kills both men and women is lung cancer. This disease is predicted to cause 130,180 fatalities in the United States in 2020 (68,820 men and 61,360 women). In addition, the introduction of robotic-assisted surgical tools and video-assisted thoracoscopic surgery (VATS) tools, among others, has made it possible to do lung cancer surgery with greater accuracy and efficiency.

Europe Lung Cancer Surgery Market:

In Europe, lung cancer is the leading cause of cancer-related deaths. It is responsible for around one-fifth of all cancer-related deaths. Lung cancer screening programs are becoming more widely known in a number of European countries, which is helping to increase early detection rates and the number of patients who can have surgery.

Competitive Analysis:

There are numerous international, regional and local suppliers in the global lung cancer surgery industry. The competition in the local market is fierce. The vendors compete based on price, product quality, and dependability. As a result, to prosper and survive in a competitive market, suppliers must provide cost-efficient and effective products.

Major Companies:

Major key companies working towards the market's growth include Ethicon US LLC, Intutive Surgical Inc, Olympus Corporation, Accuray Inc, AngioDynamics Inc, Teleflex Inc., Shanghai Ezisurg Medical, Medtronic, Siemens Healthineers, and Zhejiang Honsun Medical Technology Co., Ltd and others.

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Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 1 year.
2) Any query with regards to the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.

The Full Report has the below insights:

• The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
• Visualize the composition of the global Lung Cancer Surgery market segmentation by Surgical Devices, Surgical Procedures, End User and region, highlighting the key commercial assets and players.
o By Surgical Devices: Surgical Instruments, Hand Instruments (Stapler, Forceps, Retractors, Rib Shear, Trocars, Cutters, Clamps, Scissors, Elevators, and Others), Monitoring and Visualizing Systems (Cameras and Video Support and Endoscopic Trocars with Optical View), Endosurgical Equipments.
o By Surgical Procedures: Thoracotomy (Lobectomy, Sleeve Resection, Segmentectomy, Pneumonectomy), and Minimally Invasive Surgeries.
o By End Users: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others.
o By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
• Identify commercial opportunities in the global Lung Cancer Surgery market by analyzing trends and co-development deals.
• The report also covers data insights on various industry forces such as, porter's five forces analysis, supply chain analysis, pricing analysis, and regulatory analysis.
• Excel data sheet with thousands of data points of global Lung Cancer Surgery market-level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players
• The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.

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