Lung Cancer Surgery Market: High Incidence of Lung Cancer to Drive the Market
Lung Cancer Surgery Market: Overview
As per a report published by National Cancer Institute, in 2012, lung cancer accounted for approximately 160,340 deaths across the country and around 220,160 new lung cancer cases were diagnosed in the same year.
As per report of the World Health Organization in 2012, around 1,824,701 deaths are caused due lung cancer annually, and that accounts for only 13% of lung cancer diagnosed cases.
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Growing prevalence of lung cancer due to sedentary lifestyle, rising level of pollution, and increasing number of smokers. This, in turn, is creating opportunity for growth of lung cancer surgery market.
Further, technological advancements in treatment method of lung cancer surgery and advent of minimally invasive surgeries are some of the factors fuelling growth of the market.
On contrary, dearth of surgical expertise, limited access to novel treatment approaches, post-surgical pain, and high cost of surgeries are some of the major factors which may limit the market growth in coming years.
The upcoming lung cancer surgery market analysis report provides insight about the upcoming trends and restraining factors likely to shape growth of the market during forecast period (2019-2029). The report also provides a comprehensive analysis of the key companies of the market and offers details about the capacities and competencies of these companies. The market report also focusses on the market’s competitive landscape and provides detail of the product portfolio of various companies.
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Lung Cancer Surgery Market: Competitive Analysis
- Advanced surgical equipment and endoscopic devices provide enhanced device versatility along with ease of operations in difficult situations. Registering the demand rate, companies operating in lung cancer surgery market are focusing on development of similar surgical and diagnostic instruments.
- For example, Medtronic is introducing robotic-assisted surgery system. It includes surgical specialties general, bariatric, urology, thoracic, gynecology, and colorectal.
- Lately, Johnson & Johnson has launched ECHELON CIRCULAR™ Powered Stapler. It is used for gastric, thoracic, and colorectal surgery.
- Advent of such technologies are likely to boost the global lung cancer surgery market growth in forthcoming years.
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Some of the key companies operating in the global lung cancer surgery market are-
- KARL STORZ GmbH
- Covidien PLC
- Accuray Inc
- Ackermann Instrumente GmbH
- Intuitive Surgical Inc.
- Olympus Corporation
- Trokamed GmbH
- Teleflex Inc.
- Ethicon US LLC
- AngioDynamics Inc.
- Scanlan International Inc.
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Lung Cancer Surgery Market: Key Trends
- Introduction of robotics in healthcare has been fuelling adoption rate of robotic-assisted thoracic surgery systems (RATSS). The segment is expected to contribute significantly to global lung cancer surgery market, in terms of revenue.
- Further, surgical energy instruments segment is likely to maintain its position throughout the forecast period.
- Ultrasonic instrument segment has been witnessing substantial demand rate, and is likely to witness the same in coming years. On the other hand, advanced bipolar instrument is anticipated to observe promising growth rate.
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Lung Cancer Surgery Market: Regional Analysis
- As per a report published by the World Cancer Research Fund International, high incidence of lung cancer has been recorded in North America and Asia Pacific region. This, in turn, makes these two regions significant lung cancer surgery market.
- Rising prevalence of lung cancer surgery market is attributed to growing geriatric population and changing lifestyle.
- Favorable reimbursement policy and well-developed healthcare infrastructure are major factors fuelling growth of lung cancer surgery market in North America.
- Meanwhile, Asia Pacific Lung surgery market is anticipated to grow on back of increasing incidence of lung cancer, favorable government initiatives, and rising healthcare expenditure.
- European market may witness sluggish growth rate, as cases of lung cancer is limited to Hungary, followed by Serbia. Coming to Latin America and the Middle East & Africa, cases of lung cancer is quite less when compared to other developed countries.
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