By the end of 2029, the Lung Cancer Surgery Market is anticipated to generate sales revenue of US$ 1.98 billion, growing at a 6.1% CAGR. The American Cancer Society, Inc. predicted that by the end of 2021, there were over 2 million new cases of lung cancer worldwide. Now valued at US$ 1 billion, the worldwide lung cancer surgery market will grow rapidly from 2022 to 2029, according to projections. According to a recent Future Market Insights (FMI) analysis, the market for lung cancer surgery is being shaped by the increasing use of minimally invasive, video-assisted, and robot-assisted techniques.
Robotic thoracic surgery would remain highly preferred over traditional surgical techniques, as it offers higher magnification, more precision, and eliminate the need for large-incision operations. Development of new surgical robots may cut down the cost of devices and increase shift towards robotic lung cancer surgery. Introduction of new imaging techniques for enhancing visualization, angled lenses for enhanced accessibility, and end staplers will continue to enhance the video-assisted lung cancer surgery procedure.
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Intuitive Surgical is the sole player in robotic lung cancer surgery market with its DaVinci system. Medtronic and Johnson & Johnson are developing surgical robots and are challenging the monopoly of Intuitive Surgical in lung cancer surgery market.
Key Takeaways – Lung Cancer Surgery Market Study
- Introduction of powered and tissue-specific endoscopic stapling technology provides significant benefits to reduce cost, resource usage, improve clinical outcome compared to manual staplers.
- In September 2022, Johnson & Johnson launched ECHELON CIRCULAR Powered Stapler for thoracic, colorectal, and gastric surgery.
- In March 2016, Intuitive Surgical Inc. got U.S. FDA approval for its da Vinci Xi Endowrist Stapler 30 (30 mm) instruments and reloads.
- Key market players are focusing on the development of new robot-assisted thoracic surgery system. Partnerships & collaborations with best in class surgical device and visualization technology developers are the strategic focus of manufacturers. For instance,
- Medtronic partnered with Karl Stroz, a best in class endoscopic imaging devices manufacturer. In June 2022, Medtronic announced its upcoming robotic-assisted surgical platform including three-dimensional vision systems from Karl Stroz.
- East Asia is expected to be the prominent region in the lung cancer surgery market during the forecast year. This is attributed to high prevalence of lung cancer in China & Japan increasing the demand for lung cancer surgery. According to the International Agency for Research on Cancer, from overall cancer patients in China and Japan, around 18.1% and 16.8% patients respectively were having lung cancer.
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Development in robotic thoracic surgery platforms and innovation in tissue-specific endoscopic stapling and vessel sealing techniques to reduce endoleak complications will further broaden the growth prospects of the lung cancer surgery market.
Product Portfolio Expansion to Increase Global Footprint
Manufacturers are adopting product portfolio expansion strategy to increase their footprint in the global lung cancer surgery market. Market players such as Pentax Medical, Olympus, Johnson & Johnson, Intuitive Surgical Inc. are continuously focusing on new product launches and regulatory approvals. For instance,
- In July 2016, PENTAX Medical launched new DEFINA high-definition pulmonology endoscopy system for crystal clear imaging during surgical procedures.
- In April 2018, Intuitive Surgical Inc. received U.S. FDA clearance for da Vinci Vessel Sealer Extend single-use, the fully wristed bipolar electrosurgical instrument for lung cancer surgery procedures such lobectomy, segmentectomy, and wedge resection.
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Key Companies Profiled
- Asap Endoscopic Products
- Ethicon Inc. (J & J)
- Medtronic Plc.
- Germed USA Inc.
- Teleflex Incorporated
- B. Braun Melsungen AG
- Karl Storz
- Richard Wolf
- Olympus Medical Systems Corp
- Intuitive Surgical Inc.
- Ambu A/S
- PENTAX Medical Company
- FUJIFILM Holdings Corporation
Lung Cancer Surgery Market by Category by Product:
- Thoracoscopes
- Mediastinoscopes
- Bronchoscopes
- Robotic-Assisted Thoracic Surgery Systems
- Surgical Staplers
- Surgical Energy Instruments
- Advanced Energy Instruments
- Advanced Bipolar Instruments
- Ultrasonic Instruments
- Basic Energy Instruments
- Bipolar Instruments
- Monopolar Instruments
- Advanced Energy Instruments
By Application:
- Lobectomy
- Segmentectomy
- Wedge Resection
- Pneumonectomy
By End-User:
- Hospitals
- Ambulatory Surgical Centers
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 08-years.
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