Lung Cancer Surgery Market Report, 2021 Global Share, Key Players, Segmentation Analysis, Business Growth and Forecast to 2027

 

Market growth is largely driven by factors such as the technological advancements in lung cancer treatment, increasing incidence and prevalence of lung cancer, growing trend of smoking tobac-co, rising geriatric population, increasing emphasis on early diagnosis & treatment of cancers, and availability of reimbursement. Rising air pollution and people getting affected by it are one of the prime factors responsible for the growth of the market for lung cancer surgery. Most of the 4.2 million premature deaths linked to air pollution are due to heart disease and strokes, around 1.7 million deaths are from lung cancer and other respiratory diseases globally.

Furthermore, cancer is the second-leading cause of death worldwide, accounting for 10 million deaths in 2020. Globally, about 1 in 6 deaths occur due to cancer. 19.3 million new cases were reported in 2020. The increase in cancer incidence at a global scale also indicates an increasing trend for the prevalence of lung cancers worldwide.

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The COVID-19 pandemic has adversely impacted the market. The number of cancer screening and diagnostic procedures declined precipitously, with countries worldwide affected by the pandemic. An initial analysis of the US market shows that newly diagnosed metastatic non-small-cell lung cancer patient volumes have declined just over 30% from February 2020 to March 2020—this represents a major decline in just one month. This also impacted rate of surgeries that benefit certain patients.

According to UnivDatos Market Insights (UMI)’ research report “Global Lung Cancer Surgery Market Analysis, 2020”, the Global baby monitor market is projected to grow at a CAGR of X during 2021-27.  With the advent of technological advancements in the field of automation robotic surgeries are also gaining popularity and acceptance amongst healthcare professionals for surgical procedures. Robotic surgeries are minimally invasive in nature thereby providing comfort to the patients.

The powered surgical equipment segment accounted for the largest share of the lung cancer surgery market, by surgical instruments segment, in 2020

Based on surgical instruments, the market is segmented into powered surgical equipment and hand Instruments. In 2020, the powered surgical equipment segment accounted for the larger share of the global market. Power surgical equipment saves the time required for surgical procedures by showcasing consistent performance and optimum functionality. These are the main factors driving the adoption of powered surgical equipment over hand instruments.

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Segmentectomy is Expected to Witness High Growth

With the growing prevalence of lung cancer and technological development, the therapy line has also been improved and people can start taking treatment from the early stage, these factors are expected to further boost the growth of the lung cancer surgery market.

Based on procedure segmentectomy is a common surgical treatment that can be an option to treat non-small cell lung cancer (NSCLC). It is mostly recommended over lobectomy if the patient already has a highly reduced lung reserve. Although lung segmentectomy has always been popular for resection of supportive lesions and nonmalignant masses, most of the time it is recommended for very early lung cancer.

North America is Expected to Dominate the Market

As per the American Cancer Society’s estimation, the new cases of lung cancer in the United States for 2018 were around 234,030, and about 154,050 deaths were expected due to lung cancer. In the United States, lung cancer survival has been improved and the incidence of localized lung cancer has increased.

According to the American Lung Association (2018), approximately 541,000 Americans living today have been diagnosed with lung cancer at some point in their lives. The majority of lung cancer patients have been diagnosed within the last five years. Each year, around tens of thousands of people, are cured of non-small cell lung cancer (NSCLC) in the United States. Lung cancer is mostly a disease of the elderly. This indicates the burden of lung cancer in this country and this is resulting in the growth of the market studied as there is a high demand for cancer treatment in the United States.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Lung Cancer Surgery Market are GE Healthcare, Johnson and Johnson, Siemens Healthineers AG, Richard Would GmbH, Accuray incorporated, Olympus corporation among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry. Some of the instances are:

• 26 June, 2020 — Accuray Incorporated announced the company has launched the CyberKnife S7 System, an innovative device combining speed, advanced precision and real-time artificial intelligence (AI)-driven motion tracking and synchronization treatment delivery for all stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) treatments.
• 06 May, 2020, FDA approves first targeted therapy to treat aggressive form of lung Cancer.

“Global Lung Cancer Surgery Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for lung cancer surgery across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

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Market Segmentation:

1. By Instrument (Clamps, Foreceps, Trocars, Retractors, Scissors), Monitoring & Endoscopic Devices)
2. By Procedure (Thoracotomy (Lobectomy, Pneumonectomy, Segmentectomy, Sleeve Resection), MIS)
3. By Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America)
4. By Company (GE Healthcare, Johnson and Johnson, Siemens Healthineers AG, Richard Would GmbH, Accuray incorporated, etc.)

Key questions answered in the study:

1. What are the current and future trends of the Global Lung Cancer Surgery industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Lung Cancer Surgery industry?
5. What are the customer orientation, purchase behavior, and expectations from the lung cancer surgery firms across various regions?

About Us:

UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.

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