USD 5.43 billion
Lung Cancer Surgery Market Size, Share, Growth Analysis, By Device(Surgical instruments, monitoring & visualizing systems and endosurgical equipment), By End-User(Hospitals and Ambulatory Surgery Centers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35D2179 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
60
|Figures:
75
Lung Cancer Surgery Market Insights
Lung Cancer Surgery Market size was valued at USD 5.65 billion in 2022 and is poised to grow from USD 5.88 billion in 2023 to USD 88.11 billion by 2031, at a CAGR of 4.1% during the forecast period (2023-2030)
The global Lung Cancer Surgery market is a rapidly evolving and critical segment of the healthcare industry. Lung cancer remains one of the most prevalent and deadliest forms of cancer worldwide, necessitating various surgical interventions to diagnose, stage, and treat the disease. Advancements in surgical techniques, imaging technologies, and perioperative care have significantly improved the outcomes of lung cancer surgeries over the years. Minimally invasive procedures, such as video-assisted thoracic surgery (VATS) and robotic-assisted surgery, have gained prominence, offering reduced postoperative pain, shorter hospital stays, and faster recovery times compared to traditional open surgeries. Factors driving the growth of the global Lung Cancer Surgery market include the rising incidence of lung cancer, increasing awareness about early detection and treatment, technological advancements in surgical techniques and equipment, and a growing aging population. Additionally, ongoing research and development activities focused on improving surgical outcomes and exploring innovative approaches contribute to the market's expansion. However, the market also faces challenges such as high treatment costs, limited accessibility to advanced surgical procedures in developing regions, and the potential for postoperative complications. Efforts are being made to address these challenges and enhance the availability and affordability of lung cancer surgeries worldwide. Major players in the global market include medical device manufacturers, pharmaceutical companies, hospitals, and research institutions. These organizations collaborate to develop cutting-edge surgical instruments, provide training and education to surgeons, and conduct clinical trials to advance the field of lung cancer surgery. In conclusion, the global market is a dynamic and crucial component of cancer care, offering hope and improved outcomes for patients diagnosed with lung cancer. Advances in surgical techniques, technology, and supportive care continue to shape the landscape, promising a future where more patients can benefit from early diagnosis, effective surgical interventions, and enhanced quality of life.
US Lung Cancer Surgery Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
4.1% CAGR
Global Lung Cancer Surgery Market($ Bn)
Country Share for North America Region (%)
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Lung Cancer Surgery Market Segmental Analysis
The global lung cancer surgery market is segmented on the basis of device, end-user, and region. By device, the market is segmented into surgical instruments, monitoring & visualizing systems and endosurgical equipment. By end-user, the market is segmented into Hospitals and Ambulatory & Surgical Centers. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Lung Cancer Surgery Market Analysis By Device
The global Lung Cancer Surgery market can also be segmented based on the type of device used, including surgical instruments, monitoring & visualizing systems and endosurgical equipment. The surgical instruments segment holds a dominant position in the global lung cancer surgery market. Surgical instruments are essential tools used during lung cancer surgeries for various procedures such as tumor removal, tissue dissection, and suturing. These instruments include forceps, retractors, scalpels, scissors, and staplers, among others. Surgical instruments are widely used across different types of lung cancer surgeries, including lobectomy, wedge resection, and pneumonectomy. The dominance of this segment can be attributed to the continuous advancements in surgical instrument technologies, enabling precise and minimally invasive procedures. Additionally, the increasing prevalence of lung cancer and the rising demand for surgical interventions contribute to the segment's dominance.
The monitoring and visualizing systems segment is expected to be the fastest growing segment in the global lung cancer surgery market. These systems play a crucial role in providing real-time visualization and monitoring of lung cancer surgeries, aiding surgeons in making accurate decisions and improving patient outcomes. The segment includes technologies such as endoscopic cameras, imaging systems, and navigation systems. With the advent of advanced imaging modalities like computed tomography (CT) and magnetic resonance imaging (MRI), surgeons can obtain detailed information about the tumor location, size, and nearby anatomical structures, facilitating precise surgical planning and execution. The increasing adoption of minimally invasive techniques, such as video-assisted thoracic surgery (VATS) and robotic-assisted surgery, further drives the demand for monitoring and visualizing systems. The ability of these systems to enhance surgical precision, reduce complications, and improve patient safety fuels the growth of this segment.
Lung Cancer Surgery Market Analysis By End-user
The global Lung Cancer Surgery market can also be segmented based on the type of end-user, including Hospitals and Ambulatory & Surgical Centers. The dominant segment in the global Lung Cancer Surgery market is the hospitals segment. Hospitals have traditionally been the primary settings for lung cancer surgeries due to their comprehensive infrastructure, advanced facilities, and the availability of a multidisciplinary team of healthcare professionals. Hospitals offer a wide range of services, including diagnostic imaging, preoperative evaluation, surgical procedures, postoperative care, and follow-up services. They are equipped with state-of-the-art operating rooms, intensive care units, and specialized lung cancer treatment units, enabling the provision of specialized care to patients. Hospitals also tend to have established referral networks, ensuring a steady influx of lung cancer patients. Factors contributing to the dominance of hospitals in this segment include their capacity to handle complex cases, access to advanced surgical technologies, and the presence of highly skilled surgeons and medical staff.
Ambulatory and surgical centers are emerging as a fast-growing segment in the global lung cancer surgery market. These centers offer specialized surgical procedures, including lung cancer surgeries, on an outpatient basis, allowing patients to undergo surgical interventions and return home on the same day. Ambulatory and surgical centers provide a convenient and cost-effective alternative to traditional hospital-based surgeries. They are equipped with advanced surgical facilities, including minimally invasive surgical technologies, and focus on delivering efficient and patient-centered care. The advantages of ambulatory and surgical centers include shorter waiting times, reduced hospital stays, lower costs, and a more personalized approach to patient care. Additionally, advancements in minimally invasive techniques, such as video-assisted thoracic surgery (VATS), have made lung cancer surgeries feasible in these centers. The growing preference for same-day surgeries and the increasing demand for cost-effective healthcare solutions are key factors driving the growth of ambulatory and surgical centers in the lung cancer surgery market.
Global Lung Cancer Surgery Market By End-User
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Lung Cancer Surgery Market Regional Insights
The dominating region in the global Lung Cancer Surgery market is North America, which holds a significant market share. The region has a well-established healthcare infrastructure, advanced surgical facilities, and a high prevalence of lung cancer cases. Moreover, there is a strong emphasis on early detection, effective treatment options, and favorable reimbursement policies, contributing to the dominance of North America in the market. Leading players in the industry, technological advancements, and a robust research and development environment further strengthen the market position of North America.
The fastest-growing segment in the global lung cancer surgery market is the Asia Pacific region. Factors driving the rapid growth in this region include the rising incidence of lung cancer, increasing awareness about early diagnosis and treatment, improving healthcare infrastructure, and growing healthcare expenditure. Countries like China, India, and Japan are witnessing significant developments in lung cancer surgery, with a focus on adopting advanced surgical techniques and technologies. Additionally, the presence of a large patient pool, growing geriatric population, and increasing investments in healthcare contribute to the rapid growth of the Asia Pacific market.
Global Lung Cancer Surgery Market By Geography
- Largest
- Fastest
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Lung Cancer Surgery Market Dynamics
Lung Cancer Surgery Market Drivers
Increased Prevalence of Lung Cancer Diseases
- The greatest cause of death for both men and women worldwide is lung cancer. Because the tobacco epidemic started in several developing nations and among populations there, lung cancer incidence and mortality are rising globally. The impact of lung cancer on individuals and families is significant, and it is often viewed as a threat to global health. A malignant tumor known as lung cancer is characterized by the unchecked proliferation of lung cell tissues.
Lung Cancer Surgery Market Restraints
High Cost
- The high cost of the lung cancer surgery process and technical limitations in some countries, however, may limit the growth of the lung cancer surgery industry and restrain the market's expansion. Long lead times for international qualifications and intense competition in the medical technology industries can also pose difficulties for the market's expansion.
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Lung Cancer Surgery Market Competitive Landscape
The global lung cancer surgery market features a competitive landscape with several key players operating in the industry. These companies are actively involved in research and development, strategic collaborations, mergers and acquisitions, and product innovations to gain a competitive edge. These companies face competition from both established players and emerging companies in the lung cancer surgery market. The competitive landscape is driven by factors such as technological advancements, product quality, clinical outcomes, pricing strategies, and geographical presence. Market players strive to gain market share by offering innovative and effective solutions for lung cancer surgery while maintaining high standards of patient safety and satisfaction.
Lung Cancer Surgery Market Top Player’s Company Profiles
- Ethicon (US)
- Olympus Corporation (Japan)
- Karl Storz SE & Co. KG (Germany)
- Teleflex Incorporated (US)
- Medrobotics Corporation (US)
- Siemens Healthineers AG (Germany)
- Accuray Incorporated (US)
- GE Healthcare (US)
- Novartis AG (Switzerland)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Boston Scientific Corporation (US)
- Cook Medical Incorporated (US)
- AngioDynamics (US)
- Merck & Co., Inc. (US)
- Becton, Dickinson and Company (US)
- Varian Medical Systems, Inc. (US)
- Stryker Corporation (US)
Lung Cancer Surgery Market Recent Developments
- In October 2021, a clinical trial called "ALEX" demonstrated that patients with a specific type of advanced lung cancer (ALK-positive) who underwent targeted therapy with a drug called alectinib had improved progression-free survival compared to the standard chemotherapy treatment. This finding highlights the importance of targeted therapies in the treatment of advanced lung cancer, potentially reducing the need for extensive surgical interventions.
- In May 2021, The FDA 510(k)-cleared BF-UC190F endobronchial ultrasound (EBUS) bronchoscope, the newest addition to Olympus' extensive EBUS portfolio of devices for minimally invasive lung cancer diagnosis and staging by needle biopsy, was released to the market today.
Lung Cancer Surgery Key Market Trends
- Shift Increasing Research and Development: Extensive research and development activities are being conducted to explore new treatment modalities, refine surgical techniques, and develop novel technologies in the field of lung cancer surgery. Clinical trials are ongoing to evaluate the efficacy and safety of innovative approaches, including targeted therapies, immunotherapies, and minimally invasive procedures.
- Focus on Enhanced Recovery After Surgery (ERAS): ERAS protocols are gaining prominence in the lung cancer surgery market. These protocols aim to optimize preoperative preparation, minimize surgical stress, and accelerate postoperative recovery. By implementing ERAS guidelines, healthcare providers can reduce complications, shorten hospital stays, and improve patient satisfaction.
Lung Cancer Surgery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Lung Cancer Surgery market analysis, the market is a vital and rapidly evolving sector within the healthcare industry. Advancements in surgical techniques, imaging technologies, and perioperative care have significantly improved the outcomes of lung cancer surgeries. Minimally invasive procedures like video-assisted thoracic surgery (VATS) and robotic-assisted surgery have gained prominence for their benefits, including reduced postoperative pain and faster recovery. The market's growth is driven by factors such as increasing lung cancer incidence, rising awareness about early detection and treatment, technological advancements, and a growing aging population. Challenges in the market include high treatment costs, limited accessibility in developing regions, and potential postoperative complications. However, efforts are underway to address these challenges and improve global access to lung cancer surgeries. In conclusion, the global Lung Cancer Surgery market plays a critical role in the management of lung cancer patients. Ongoing advancements and efforts to improve accessibility and affordability are promising a future where more patients can benefit from early diagnosis, effective surgical interventions, and enhanced quality of life.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.65 billion |
| Market size value in 2031 | USD 88.11 billion |
| Growth Rate | 4.1% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Lung Cancer Surgery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Lung Cancer Surgery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Lung Cancer Surgery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Lung Cancer Surgery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Lung Cancer Surgery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Lung Cancer Surgery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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