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Lung Cancer Surgery Market size is predicted to grow at a considerable rate during the forecast period of 2023-2032 due to the rising prevalence of lung cancer among the ever-increasing geriatric population.
Rising air pollution level in developed and developing economies along with growing research & development activities on cancer treatments are some of the major factors that might bolster lung cancer surgery market outlook. The National Cancer Institute, for example, has been diligently supporting cancer research efforts by offering funds to create new cancer treatments and improve patient care. Such initiatives can boost the number of lung cancer surgeries across the world.
As per a report by the U.S. Centers for Disease Control and Prevention (CDC), cigarette smoking is linked to more than 80-90% of lung cancer deaths in the country, which can increase the number of lung cancer operations. However, concerns regarding post-surgery complications including blood clot formation in the legs & lungs and excessive bleeding can hamper lung cancer surgery industry market progress over the coming years.
Based on type of surgery, global lung cancer surgery market is segmented into thoracotomy and minimally invasive surgeries. The industry size from the minimally invasive surgery segment is anticipated to register a notable CAGR through 2032. This form of surgery is more affordable as compared to open chest procedures conducted via a thoracotomy. Non-invasive surgical procedures also offer a myriad of other benefits, such as faster recovery, fewer complications, less blood loss, and shorter hospital stay, thereby amplifying the market expansion during the forecast timeline.
Based on product, lung cancer surgery market is divided into surgical instruments and monitoring & visualizing systems. The surgical instrument segment is set to capture a sizeable market gains by 2032. These devices provide better precision while removing cancerous tumors and have the potential to reduce post-surgery complications.
Companies are also unveiling advanced versions of these surgical devices to improve patient outcome. For example, in June 2022, Ethicon, a subsidiary of Johnson & Johnson MedTech, announced the launch of its ECHELON 3000 Stapler. It is a digital device that provides surgeons with better access and control over each transection on challenging tissues as well as tight spaces.
Europe lung cancer surgery industry market is set to record a strong CAGR throughout the analysis timeframe as the governments are boosting their investments in cancer care.
Ackermann Instrumente GmbH, Trokamed GmbH, Scanlan International, Inc., Karl Storz GmbH, Teleflex Incorporated, Inc., Olympus Corporation, Ethicon US, LLC (Johnson & Johnson), Accuray Incorporated, Intuitive Surgical, and AngioDynamics Inc., among many others, are the top companies operating in lung cancer surgery market.