Future Market Insights (FMI), a leading authority in market research and analysis, has released a new report projecting robust expansion in the global lung cancer surgery market. Valued at USD 1.31 billion in 2022, the market is anticipated to reach USD 1.98 billion by 2029, reflecting a substantial Compound Annual Growth Rate (CAGR) of 6.1%.
The comprehensive report highlights a major shift in surgical techniques, with robotic thoracic surgery gaining prominence over traditional methods. Robotic surgery offers significant benefits, including enhanced precision, superior magnification, and the reduction of large-incision operations. These advancements are expected to drive increased adoption of robotic-assisted lung cancer surgeries. Innovations aimed at reducing the costs of surgical robots are poised to further accelerate this growth.
Additionally, advancements in imaging technologies are set to revolutionize lung cancer surgery. The introduction of cutting-edge imaging solutions, including angled lenses for better accessibility and advanced end staplers, is expected to improve the efficacy of video-assisted lung cancer procedures.
Commenting on the findings, a representative from Future Market Insights noted, “The rising global incidence of lung cancer is fueling the demand for advanced surgical techniques. Robotic thoracic surgery, with its unmatched precision and efficiency, is a key driver of this trend. Furthermore, the integration of new imaging modalities and surgical tools is set to enhance the success rates of lung cancer surgeries.”
The report offers valuable insights for stakeholders, including healthcare providers, medical device manufacturers, investors, and policymakers, providing a roadmap for navigating emerging opportunities in the global lung cancer surgery market.
Key Highlights from the Lung Cancer Surgery Market Study:
- Technological Advancements: The introduction of powered and tissue-specific endoscopic stapling technology is significantly improving cost efficiency and clinical outcomes compared to manual staplers.
- Recent Developments:
- Johnson & Johnson launched the ECHELON CIRCULAR™ Powered Stapler for thoracic, colorectal, and gastric surgeries in September 2022.
- Intuitive Surgical Inc. received U.S. FDA approval for its da Vinci Xi Endowrist Stapler 30 (30 mm) instruments and reloads in March 2016.
- Strategic Partnerships:
- Medtronic partnered with Karl Storz to incorporate advanced three-dimensional vision systems into its upcoming robotic-assisted surgical platform.
- Regional Insights:
- East Asia, particularly China and Japan, is expected to be a dominant market due to the high prevalence of lung cancer. According to the International Agency for Research on Cancer, approximately 18.1% of cancer patients in China and 16.8% in Japan have lung cancer.
Product Portfolio Expansion:
Key players in the market are focusing on expanding their product portfolios to strengthen their global presence. Notable developments include:
- PENTAX Medical’s launch of the DEFINA high-definition pulmonology endoscopy system in July 2016.
- Intuitive Surgical Inc.’s receipt of U.S. FDA clearance for the da Vinci Vessel Sealer Extend single-use instrument in April 2018.
Key Companies:
- 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
Get the Entire Market: Download the Complete Lung Cancer Surgery Market Report
Market Segmentation:
- By Product: Thoracoscopes, Mediastinoscopes, Bronchoscopes, Robotic-Assisted Thoracic Surgery Systems, Surgical Staplers, Surgical Energy Instruments, and more.
- 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)
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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