Future Market Insights (FMI), a recognized leader in market research and analysis, has unveiled a new report forecasting remarkable growth in the global lung cancer surgery market. Valued at USD 1.31 billion in 2022, the market is projected to expand to USD 1.98 billion by 2029, marking a robust Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period.
The report attributes this substantial growth to several key factors, including rapid advancements in surgical technologies, an increasing prevalence of lung cancer, and heightened awareness about the importance of early detection and treatment. Enhanced surgical techniques and the adoption of innovative technologies are expected to significantly improve patient outcomes and quality of life, further fueling market expansion.
“With ongoing advancements in surgical procedures and a growing emphasis on early diagnosis, the lung cancer surgery market is experiencing a transformative phase,” said a Future Market Insights. “Our projections reflect a positive outlook, driven by continuous innovations and increasing patient demand for effective treatment options.”
The FMI report provides a comprehensive analysis of the latest market trends, growth drivers, and potential challenges. It also offers valuable insights for industry professionals and stakeholders. As the market continues to evolve, key players are expected to focus on technological innovations and strategic collaborations to maintain a competitive edge and meet the rising demand for advanced surgical solutions.
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.
High Demand for Lung Cancer Surgery: Uncover the Trends and Insights with Our Detailed Report!
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
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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