Lung Cancer Surgery Market Set for Twofold Revenue Growth over 2019 - 2029
There have been more than 2 million new lung cancer cases by 2018 end, which is a clear indicator of how rapidly the demand for lung cancer surgery will grow in the near future. Currently a billion-dollar market, the global lung cancer surgery landscape is set to observe a robust growth outlook during the next decade. As chronic obstructive pulmonary disease (COPD) patients are at a high risk of suffering from lung cancer, the rising prevalence of COPD linearly reflects the growing need for lung cancer surgery. With technological advances disrupting the field of lung cancer surgery, FMI expects the market revenues to grow 2X over the period of next decade. Further, market players are innovating lung cancer surgical procedures that ensure minimal invasion and faster recovery time.
Key Growth Influencers - Lung Cancer Surgery Market
VATS Lobectomy Gaining Attention for Lung Cancer Treatment
Video-assisted thoracoscopic surgery (VATS) procedure underwent improvements in technique and refinement of surgical devices over the years. Key vendors, Medtronic plc. and Ethicon, have introduced advanced products such as power staplers and ultrasonic advanced energy instruments supporting VATS for lung cancer. These products reduce bleeding complications as compared to manual devices as well as reduce morbidity, offer faster recovery time, and shorter hospital stays. Video-assisted thoracoscopic surgery (VATS) lobectomy is gaining acceptance over open lobectomy. According to the Society of Thoracic Surgery (STS) General Thoracic Surgery Database (GTSD), VATS lobectomy procedures has increased over time from 8% in 2003 to 44.7% in 2010 among lung cancer patients.
Advancements in Surgical Instruments to Ease Complex Procedures
Companies such as Medtronic, Ethicon, Intuitive Surgical Inc., and others are constantly launching new products in the lung cancer surgery market. Moreover, companies are focusing to develop and achieve regulatory approvals for new procedures and interventions. For instance,
- In May 2017, Ethicon launched ECHELON FLEX™ GST System (45mm) to deliver benefits of precision stapling performance to thoracic procedures.
- In May 2017, Intuitive Surgical Inc. introduced da Vinci X, a new da Vinci model in the United States for robotic-assisted surgery.
Advanced surgical instruments and endoscopic devices have increased the device versatility and ease of use in complex cases such as lung resection procedures. Technological transformation has led to a positive impact on the global lung cancer surgery market growth.
China, Japan, and U.S. Witnessing Rapid Technology Penetration
China, Japan, and the United States registered a higher incidence of lung cancer as compared to other countries. According to the International Association of Cancer Registries, the number of new cases of lung cancer is around 774,323, 118,971, and 227,356 in China, Japan, and the United States respectively. Large patient pool and need for effective treatment approach are expected to increase the demand for lung cancer surgery devices. China, Japan, and the United States represent increased new technology adoption rate attributed to earlier launch of products in these countries and stronger reimbursement policies for lung cancer surgery procedures.
Lung Cancer Surgery Market Structure Analysis
- The global lung cancer surgery market represents a fragmented competition scenario. Most of the key players maintain their strategic focus on the development of advanced energy devices, introduction of new imaging technology, and joint ventures & collaborations for innovative technological development. For instance,
- In March 2019, Titan Medical and Teleflex incorporated announced collaboration for the development of robotic ligation technology.
- Market leaders such as Ethicon (Johnson & Johnson), Medtronic Plc. Olympus Corporation, Intuitive Surgical Inc., PENTAX Medical Company contributed more than half of the market value share in the lung cancer surgery market in 2018.
- Robotic-assisted lung cancer surgery market is dominated by Intuitive Surgical Inc., manufacturer of da Vinci System. da Vinci System is the only robotic surgery system available for lung cancer surgery such as lobectomy.
- For a greater hold in the target market, lung cancer surgery device manufacturers continuously emphasis on strategies, such as mergers and acquisitions. For instance, in April 2019, Johnson & Johnson completed the acquisition of Auris Health Inc. a robotic platform technology manufacturer.
Surgical Energy Instruments at Forefront, RATSS Adoption at Pace
Surgical energy instruments remain significantly preferred for performing lung cancer surgeries through 2029, generating ~US$ 900 Mn. While demand growth for basic energy instruments is moderate, the advanced iterations hold a major market share. Ultrasonic instruments will maintain their supremacy throughout forecast period, whereas advanced bipolar instruments will witness promising growth. Advent of robotics in healthcare has been driving adoption of robotic-assisted thoracic surgery systems (RATSS), which is estimated to witness a notable spike in revenues in the near future. Adoption will be prominent in North America and East Asia.
China and Japan Spearheading East Asian Market
Lead by the U.S. and Germany respectively, North America and Europe will maintain their hegemony in lung cancer surgery market, collectively holding a two-thirds market share. The lung cancer surgery market in East Asia is showcasing substantial growth, majorly accounted by strong growth prospects of market in China and Japan. While the growth of developed regional markets will bank on massive healthcare expenditure and favorable reimbursement scenario, developing markets across Asia would prominently receive a push from expanding patient pool and faster technology penetration.
* This data is only a representation. Actual data may vary and will be available in report.
Market Players Rely on Advanced Lung Cancer Surgery Techniques
Advanced surgical instruments and endoscopic devices deliver enhanced device versatility and ease of operation in complex situations. For instance, Medtronic is launching robotic-assisted surgery system that includes surgical specialties general, urology, gynecology, thoracic, colorectal, and bariatric. Johnson & Johnson recently introduced ECHELON CIRCULAR™ Powered Stapler for colorectal, gastric, and thoracic surgery. Such technology transformations are expected to propel the global lung cancer surgery market growth.
Demand for surgical energy instruments at pace
RATTS preference gathering momentum
Lobectomy remains top application area
Application in wedge resection picking pace
Hospitals remain top end user
Sluggish adoption in ambulatory surgical centers
How Growth will Unfold
Demand for lung cancer surgery in lobectomy will remain maximum, especially in developed countries. It has been observed that the video-assisted thoracoscopic surgery (VATS) lobectomy is gradually replacing conventional lobectomy owing to the reduced morbidity, faster recovery, and shorter hospital stays associated with former. Segmentectomy and wedge resection, on the other hand, are suitable for early stage non-small cell lung cancers.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
Custom Market Research Services
FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.
Lung Cancer Surgery Market Analysis 2019 - 2029
A recent market study published by Future Market Insights (FMI) on the lung cancer surgery market includes global industry analysis for 2014-2018 & opportunity assessment for 2019 - 2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters of the lung cancer surgery market, the growth prospects of the market are obtained with maximum precision.
Lung Cancer Surgery Market Taxonomy
The global lung cancer surgery market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- Surgical Energy Instruments
- Advanced Energy Instruments
- Advanced Bipolar Instruments
- Ultrasonic Instruments
- Basic Energy Instruments
- Bipolar Instrument
- Monopolar Instruments
- Advanced Energy Instruments
- Robotic-Assisted Thoracic Surgery Systems
- Surgical Staplers
- Wedge Resection
- Ambulatory Surgical Centers
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa
The report initiates with the executive summary of the lung cancer surgery market, which includes a summary of key findings and statistics of the market. It also includes the demand & supply-side trends pertaining to the lung cancer surgery market.
Readers can find the definition and a detailed segmentation of the lung cancer surgery market in this chapter, which will help them understand the basic information about the lung cancer surgery market. Along with this, comprehensive information pertaining to lung cancer surgery and their properties are provided in this section. This section also highlights the inclusions and exclusions, which helps the reader understand the scope of the lung cancer surgery market report.
The lung cancer surgery market report provides the key market trends that are expected to significantly impact the market growth during the forecast period. Detailed industry trends are provided in this section.
This section includes the factors that have emerged as key successful factors and the strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the lung cancer surgery market between the forecast periods of 2019-2029. This chapter includes a detailed analysis of the historical lung cancer surgery market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).
This chapter explains the key macro-economic factors that are expected to influence the growth of the lung cancer surgery market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, Porter’s five forces analysis, and value chain analysis for the lung cancer surgery market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Based on product type, the lung cancer surgery market is segmented into thoracoscopes, mediastinoscopes, bronchoscopes, robotic-assisted thoracic surgery systems, surgical staplers and surgical energy instrument. In this chapter, readers can find information about the key trends and developments in the lung cancer surgery market and market attractiveness analysis based on product type.
This chapter provides details about the lung cancer surgery market based on application, and has been classified into lobectomy, segmentectomy, wedge resection and pneumonectomy. In this chapter, readers can understand the market attractiveness analysis based on application.
This chapter provides details about the lung cancer surgery market based on end user, and has been classified into hospitals & ambulatory surgical centers. In this chapter, readers can understand the market attractiveness analysis based on end user.
This chapter explains how the lung cancer surgery market will grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America lung cancer surgery market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on application and countries in North America.
This chapter provides the growth scenario of the lung cancer surgery market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Important growth prospects of the lung cancer surgery market based on its end users in several countries such as Germany, the U.K., France, Spain, Italy, Russia, BENELUX, and the Rest of Europe are included in this chapter.
In this chapter, India and ASEAN countries are the prominent countries in the South Asia region that are the prime subjects of assessment to obtain the growth prospects of the South Asia lung cancer surgery market. Readers can find detailed information about the growth parameters of the South Asia lung cancer surgery market during the forecast period of 2019-2029.
This chapter highlights the growth of the lung cancer surgery market in East Asia by focusing on China, Japan, and South Korea. This section also help readers understand the key factors that are responsible for the growth of the lung cancer surgery market in East Asia.
This chapter highlights the growth of the lung cancer surgery market in Oceania by focusing on Australia and New Zealand. This section also help readers understand the key factors that are responsible for the growth of the lung cancer surgery market in Oceania.
This chapter provides information about how the lung cancer surgery market will grow in major countries in the MEA region such as GCC Countries, South Africa, Turkey, and the Rest of MEA, during the forecast period of 2019-2029.
This section highlights the growth prospects of the lung cancer surgery market for emerging markets such as China, India, and Brazil.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the lung cancer surgery market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the lung cancer surgery market, along with a detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Ethicon Inc. (Johnson & Johnson), Medtronic Plc., Teleflex Incorporated, B. Braun Melsungen AG, Karl Storz, Olympus Medical Systems Corp, Intuitive Surgical Inc., PENTAX Medical Company among others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the lung cancer surgery market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the lung cancer surgery market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
- Industry Associations
- American Cancer Society
- European Association for Cancer Research
- World Cancer Research Fund International
- Lung Cancer Research Foundation
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
Primary Interview Splits