Lung Cancer Surgery Market: Global Industry Analysis and Forecast (2023-2029)

Lung Cancer Surgery Market was valued at US$ 28.85 Bn. in 2022, and it is expected to reach US$ 43.21 Bn. by 2029, exhibiting a CAGR of 5.94% during the forecast period 2023-2029.
Global Lung Cancer Surgery Market Overview:
Lung Cancer is referred as Lung Carcinoma. It happens due to uncontrollable growth of tissues which are also called tumors on the lung and those are malignant in nature. Lung Cancer Surgery operates to remove those tumors and cures the lung cancer. It happen due to excessive pollution, smoking etc.

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The report explores the Lung Cancer Surgery Market's segments (on Surgical Devices, Surgical Procedure, End User, Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Lung Cancer Surgery Market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Lung Cancer Surgery Market's contemporary competitive scenario.
Lung Cancer Surgery Market Dynamics:
Surgery for lung cancer is a treatment used to treat lung cancer, particularly non-small cell lung cancer. A number of variables, including smoking, passive smoking in some cases, exposure to carcinogenic poisons and gases, and others, increase the risk of this disease, which is primarily brought on by the excessive proliferation of aberrant malignant cells in the lung area. Secondary lung cancer begins in other body areas and later spreads to the lungs, whereas primary lung cancer is known as carcinomas that begins in the lungs. Using a biopsy that is carried out under bronchoscopy or CT guidance, lung cancer is found and confirmed. Surgery to treat lung cancer involves removing cancerous tissue from the lung.

The rise in global cancer incidence also points to an upward trend in the prevalence of lung cancer globally. The rising incidence and prevalence of cancer are anticipated to increase the number of patients choosing to have lung cancer surgery in the upcoming years in this situation marked by a favourable financial environment and efficient treatment alternatives. In consequence, it is anticipated that this will fuel market expansion during the ensuing years.

Technology developments in lung cancer therapy, rising lung cancer incidence and prevalence, the rising smoking trend, the ageing population, increased emphasis on early cancer detection and treatment, and reimbursement accessibility are the main factors driving market growth. The market for lung cancer surgery is anticipated to increase even more as a result of the rising prevalence of lung cancer, technical advancements, and the fact that people can now begin treatment at an early stage.

The high prevalence of lung cancer in the growing elderly population, as well as the global burden of trachea and bronchus cancer. The demand for both large and small cell lung cancer surgery will increase during the projected period as a result of the quick advancements in cancer treatment technology and the rise in lung cancer-related deaths. The development of aberrant cells in the lung tissue is referred to as lung cancer. Surgery is used to try to cure the condition by removing the tumor, the lung tissue around it, and any nearby lymph nodes. The best course of action for localized cancer, including carcinoid tumors, is surgery.

The risk of lung cancer in people with chronic obstructive pulmonary disease (COPD) is rising, and the prevalence of COPD will drive up demand for lung cancer surgery. Additional variables that raise the chance of cancer include genetic predisposition, increasing exposure to carcinogens like arsenic, asbestos, and cigarettes, as well as radiation from sources like UV and X-rays. Regarding the consumption of carcinogens, genetic predisposition, and smoking, these factors increase the likelihood of developing lung cancer, which benefits the global market for lung cancer surgery.

The high cost of treating lung malignancies has placed a heavy strain on both cancer sufferers and governments all over the world. Even though there is a big patient pool, only a small percentage of patients choose surgical treatments to address their ailment because of the expensive expenses. This is a significant barrier to market expansion.

There are some other issues that could limit the growth of this market to some extent, including post-surgical side effects including pain and the lack of sufficient market penetration for innovative treatments, which makes them unavailable to many customers.

The market for surgical robots has been grown the opportunity for minimally invasive procedures, growing technologies, highly sophisticated visualization capabilities, and rising investments in modern healthcare infrastructure. Robotic surgery is a form of minimally invasive surgery in which doctors insert a succession of extremely small incisions and tiny surgical equipment into a patient's body. Used for a variety of other treatments as well, such as gallbladder removal and coronary artery bypass surgery. It is also used to remove cancerous tissue from sensitive body areas like blood vessels, nerves, and vital organs.

One surgical option for the treatment of non-small cell lung cancer is segmentectomy (NSCLC). If the patient already has a severely diminished lung reserve, it is typically preferred over lobectomy. Although lung segmentectomy has long been a preferred method for removing benign tumors and supporting lesions, it is typically advised for patients with extremely early-stage lung cancer. This method is becoming more and more popular because it produces better results than conventional surgical approaches and requires less time to recuperate. These benefits are projected to drive the study market's expansion. Segmentectomy method has a strong success rate for eliminating localized tumors and cancers with greater survival rates, with the retention of organ functions to some extent.

Surgery for lung cancer is carried out by qualified specialists. Due to issues including air leaks, tumor movement caused by breathing, and fluid buildup in the chest during the surgery, these surgeries are thought to carry higher risks than conventional surgeries. Lung cancer incidence and prevalence have risen over time and are predicted to continue rising in the years to come. Oncologists have not, however, increased in number since that time; this issue is more severe in developing nations. The ageing and rising number of retirements among the oncology staff are among the causes of the slow/laggard increase in trained personnel.
COVID - 19 Impact on Market:
The demand for and supply of non-COVID-19-related medical care has decreased as a result of the COVID-19 pandemic. Patients are delaying or avoiding a variety of treatments, including as urgent care for serious illnesses, regular checkups, and advised cancer screenings. Untreated illnesses and delayed treatment will have detrimental effects on long-term health. The confluence of life science and health care, rapid advancements in digital health technology, new talent and care delivery models, to mention a few, and a range of current and emerging healthcare trends have all been pushed by COVID-19. Lack of optimal production capacity is one of the major issues facing the lung cancer surgery sector.The funding for R&D activities linked to lung cancer surgery has been cut due to the medical community's focus on treating COVID-19, and this segment must now deal with carelessness, which has a detrimental effect on the market for lung cancer surgery.
Lung Cancer Surgery Market Segment Analysis:
Based on Surgical Devices, Surgical Instruments Segment is dominating the market with highest CAGR during the forecast period. Power surgical Instruments reduce the amount of time needed for surgeries by delivering dependable performance and top-notch functionality. These are the primary variables influencing the switch from hand instruments to powered surgical equipment.



Based on Surgical Procedure, Thoracotomy segment is dominating the market with the highest CAGR during the forecast period. Due to this surgical type's lower costs when compared to open chest surgery performed through a thoracotomy, segment growth might be attributed to an increased reliance on it. Its numerous additional advantages, such as fewer problems, quicker healing, shorter hospital stays, and less blood loss, are also anticipated to accelerate segment growth throughout the course of the projection period.

Based on End User, The hospital segment is dominating the market with the highest CAGR during the forecast period. People prefer to do surgeries in hospital than other places so this segment is growing fast.
Lung Cancer Surgery Market Regional Insights:
The North America region dominated the market with xx% share in 2022. The North America region is expected to witness significant growth at a CAGR of xx% through the forecast period.

The largest market share was accounted for by North America. The large proportion of lung cancer cases in North America can be attributed to rising technological developments in the disease's management, rising incidence and prevalence of lung cancer, rising tobacco use, growing emphasis on early cancer detection and treatment, and the availability of reimbursement.

lung cancer surgery is dominated by North America because of the region's growing elderly population and high levels of public awareness of cancer treatment.

The market for lung cancer surgery is predicted to expand in the Asia-Pacific region due to the region's growing geriatric population and high levels of public awareness of cancer treatment. Increased demand from end-use industries, including the medical, consumer electronics, and other sectors, is credited with driving this region's growth. Due to its low manufacturing costs and easy access to raw materials, China made up a significant portion of the worldwide market for electrolytic capacitors.

During the anticipated year, East Asia is anticipated to dominate the lung cancer surgery market. This is explained by an increase in demand for lung cancer surgery due to the high frequency of lung cancer in China and Japan. Lung cancer affected roughly 19.6 percent and 17.5 percent of all cancer patients in China and Japan, respectively, according to the International Agency for Research on Cancer.

The objective of the report is to present a comprehensive analysis of the Lung Cancer Surgery Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Lung Cancer Surgery Market dynamic, structure by analyzing the market segments and projecting the Lung Cancer Surgery Market size. Clear representation of competitive analysis of key players by Vehicle Surgical Devices, price, financial position, product portfolio, growth strategies, and regional presence in the Lung Cancer Surgery Market make the report investor’s guide.
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Global Lung Cancer Surgery Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 28.85 Bn.


Forecast Period 2023 to 2029 CAGR:
5.94%
Market Size in 2029:
US $ 43.21 Bn.


 Segments Covered:
by Surgical Devices
 Surgical Instruments
1. Hand Instruments
1.1. Staplers
1.2. Forceps
1.3. Retractors
1.4. Rib Shears
1.5. Trocar
1.6. Cutters
1.7. Clamps
1.8. Scissors
1.9. Elevators
1.10. Other Hand Instruments
1.11. Powered Surgical Equipment
Monitoring & Visualising Systems
1. Cameras & Video Support
2. Endoscopic Trocars with Optical Views
Endosurgical Equipment


by Surgical Procedure
Thoracotomy
1. Lobectomy
2. Sleeve Resection
3. Segmentectomy
4. Pnuemenectomy
Minimally Invasive Surgeries


by End User
Hospitals
Specialty Cancer Care Centers
Ambulatory Surgical Centers



Lung Cancer Surgery Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Lung Cancer Surgery Market, Key Players are
1. Accuray, Inc.
2. Ackermann Instrumente GmbH
3. AngioDynamics, Inc.
4. Intuitive Surgical, Inc.
5. Karl Storz GmbH & Co. KG
6. Olympus Corporation
7. Scanlan International, Inc.
8. Teleflex, Inc.
9. Trokamed GmbH
10. Covidien
11. BSD Medical Corp.,
12. Richard Wolf GMBH
13. Siemens Healthcare,
14. Neomend Inc.,
15. Ethicon Endo surgery Inc.
16. Medtronic Plc.
17. Phoenix Surgical Holdings Limited
18. FusionKraft
19. KLS Martin Group

Frequently Asked Questions:

1] What segments are covered in the Global Lung Cancer Surgery Market report?
Ans. The segments covered in the market report are based on Surgical Devices, Surgical Procedure, End User.

2] Which region is expected to hold the highest share in the Lung Cancer Surgery Market?
Ans. North America region is expected to hold the highest share in the Lung Cancer Surgery Market.

3] What is the market size of the Lung Cancer Surgery Market by 2029?
Ans. The market size of the Lung Cancer Surgery Market by 2029 is expected to reach US$ 43.21 Bn.

4] What is the forecast period for the Lung Cancer Surgery Market?
Ans. The forecast period for the Lung Cancer Surgery Market is 2022-2029.

5] What was the market size of the Lung Cancer Surgery Market in 2022?
Ans. The market size of the Lung Cancer Surgery Market in 2022 was valued at US$ 28.85 Bn.