Future Market Insights (FMI), a leading provider of market research, analysis, and intelligence, has released a comprehensive report forecasting significant growth in the global lung cancer surgery market. According to the report, the market, valued at US$ 1.31 Billion in 2022, is projected to reach US$ 1.98 Billion by 2029, reflecting a Compound Annual Growth Rate (CAGR) of 6.1%.
Key findings from the report highlight the increasing preference for robotic thoracic surgery over traditional techniques. Robotic surgery offers distinct advantages such as higher magnification, enhanced precision, and the elimination of large-incision operations. As a result, it is anticipated that robotic lung cancer surgery will continue to gain traction, particularly with the development of new surgical robots that may reduce device costs, thereby further incentivizing the shift towards robotic-assisted procedures.
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Moreover, advancements in imaging techniques are set to revolutionize the field of lung cancer surgery. The introduction of innovative imaging technologies, coupled with angled lenses for improved accessibility and end staplers, is expected to enhance the efficacy of video-assisted lung cancer surgery procedures.
Commenting on the findings, at Future Market Insights, stated, “The increasing incidence of lung cancer worldwide is driving the demand for advanced surgical techniques. Robotic thoracic surgery offers unparalleled precision and efficiency compared to traditional methods, which a significant factor is contributing to its growing adoption. Additionally, the integration of new imaging modalities and surgical tools is poised to further augment the success rates of lung cancer surgeries.”
The report provides valuable insights for stakeholders, including healthcare providers, medical device manufacturers, investors, and policymakers, to strategize and capitalize on emerging opportunities in the global 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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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.
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
By Application:
- Lobectomy
- Segmentectomy
- Wedge Resection
- Pneumonectomy
By End-User:
- Hospitals
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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