Lung Cancer Surgery Market to Reflect Impressive Growth in Healthcare Industry

Pune, India, 2020-Jan-31 — /EPR Network/ —  The high incidence and prevalence of lung cancer and rise in healthcare expenditure, increasing lung cancer awareness campaigns, and technological advancements in the lung cancer treatment are the major factors fuelling the growth of this market.

The lung cancer surgery market is projected to reach USD 29.99 billion by 2021 from USD 21.58 billion in 2016, at a CAGR of 6.8% from 2016 to 2021.

The market is classified into thoracotomy and minimally invasive surgeries. The thoracotomy segment further sub segmented into lobectomy, sleeve resection, segmentectomy, and pneumonectomy. In 2016, the thoracotomy segment is expected to account for the largest share of the market. This large share can be attributed to increasing technological advancements in lung cancer treatment.

Major risk factors such as increasing air pollution levels and the growing number of cigarette smokers are expected to fuel the growth of the lung cancer surgical procedures market

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Thoracotomy

Thoracotomy is the process of making incisions in the chest wall to gain access to the thoracic organs, such as the heart, lungs, and anterior spine. In lung cancer treatment, surgeons perform thoracotomy procedures in order to remove cancerous tissues from lungs. These surgeries are widely adopted to confirm the diagnosis of lung cancer, remove tumors and scar tissue, or fix air leaks in the lung. Lobectomy, segmentectomy, sleeve resection, and pneumonectomy are the different types of thoracotomy procedures carried out by surgeons to treat patients suffering from lung cancer

Minimally Invasive Surgeries

Minimally invasive surgeries are more advanced surgical methods than conventional open surgeries. Video-assisted thoracoscopic surgery (VATS) and robotic surgeries are examples of minimally invasive surgeries. These surgeries are especially carried out to perform lobectomy or segmentectomy procedures for treating lung cancer patients. VATS is a surgical method used for the diagnosis and treatment of lung diseases, especially non-small-cell lung carcinoma. Despite the growing acceptance for VATS resections, this minimally invasive technique has had slow adoption due to concerns regarding oncological principles, costs, possible complications, time spent on learning, and lack of trained expertise for the same. Shorter hospital stays, smaller incisions, and faster recovery are the major driving factors for minimally invasive surgeries. These advantages of minimally invasive surgeries are expected to fuel the market during the forecast period.

Geographical Region Covered

The global market is segmented into four major regions—North America, Europe, Asia, and Rest of the World. In 2016, North America is expected to account for the largest share of the market, followed by Europe. North America will continue to dominate the market in the forecast period due to availability of reimbursement for lung cancer surgeries and increasing prevalence of lung cancer in the region. However, the market in Asia is expected to witness the highest CAGR, with the growth centered on China, Japan, and India.

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Leading Companies

Ethicon US LLC (U.S.), Intuitive Surgical Inc. (U.S.), Olympus Corporation (Japan), Accuray Inc. (U.S.), AngioDynamics Inc. (U.S.), Teleflex Inc. (U.S.), KARL STORZ GmbH (Germany), Ackermann Instrumente GmbH (Germany), Scanlan International Inc. (U.S.), and Trokamed GmbH (Germany).