(Health-NewsWire.Net, November 20, 2020 ) Lung cancer surgery is an operation performed for treating lung cancer, particularly non-small cell lung cancer. This study of the lung cancer surgery market primarily pertains to the lung cancer surgical devices market. Surgical procedures are covered separately in this report, as part of the lung cancer surgical procedures market.
The lung cancer surgery market is projected to reach USD 29.99 billion by 2021 from USD 21.58 billion in 2016, at a CAGR of 6.8% from 2016 to 2021. Lung Cancer Surgery Market by Procedure (Thoracotomy (Lobectomy, Pneumonectomy, Segmentectomy), Minimally Invasive), Device (Surgical (Clamps, Forceps, Retractors, Stapler), Monitoring (Camera, Trocar), Endoscopic Instrument) – Global Forecast to 2021.
The major factors driving the growth of this market are increasing incidence and prevalence of lung cancer, rapid growth in the aging population, and growing healthcare expenditure worldwide. On the other hand, high cost of lung cancer surgeries is the major factor that is expected to restrain the growth of this market during the forecast period.
Among the devices, surgical instruments are expected to account for the largest share of the market. Increasing prevalence of lung cancer across the globe has resulted in a significant increase in the number of lung cancer surgery procedures performed, which in turn is expected to fuel the market for surgical instruments during the forecast period.
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Based on procedures, the lung cancer surgery market is segmented into thoracotomy and minimally invasive surgeries segment. The thoracotomy segment further sub-segmented into lobectomy, segmentectomy, sleeve resection and pneumonectomy. Among all, minimally invasive surgeries segment is expected to grow at a highest CAGR during the forecast period. Less incisions, less hospital stay and faster recovery are the major factors that are expected fuel the growth of minimally invasive surgeries segment.
Currently, robot-assisted surgery, minimally invasive surgeries (such as video-assisted thoracoscopic surgeries), and percutaneous trans-catheter surgeries (such as radiofrequency ablation and cryo ablation) are some of the advanced surgical procedures that are used in the treatment of lung cancer. As compared to conventional open surgeries, these advanced procedures offer various advantages such as shorter hospital stay, shorter chest tube duration, less blood loss, and smaller incisions. As a result, the preference for these procedures is higher among patients as well as surgeons. Considering the implications of these technological advancements on patient safety, patient comfort, and surgical outcomes, the demand for technologically advanced approaches for the treatment of lung cancer is expected to increase in the coming years.
Based on regions, the global lung cancer surgery market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America accounted for the largest share of the market during the forecast period. Growth in this regional segment is driven by factors such as increase in the aging population and increasing prevalence and incidence of lung cancer and availability of reimbursement for lung cancer surgeries in the region.
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Key Players in Lung Cancer Surgery Market
Ethicon US LLC (U.S.), Intutive Surgical Inc. (U.S.), Olympus Corporation (Japan), Accuray Inc. (U.S.), AngioDynamics Inc. (U.S.), Teleflex Inc. (U.S.), and KARL STORZ GmbH (Germany), Ackermann Instrumente GmbH (Germany), Scanlan International Inc. (U.S.) and Trokamed GmbH (Germany).
Mr. Aashish Mehra