Lung Cancer Surgery Market to Grow by 5.6% from 2023 to 2031, Totaling US$ 20.2 Billion: As Per TMR Study

Posted on 2024-03-07 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-07 — /EPR Network/ — Transparency Market Research Inc. –

In 2022, the industry boasted a valuation of US$ 12.3 billion. Projections indicate a steady growth trajectory, with an anticipated Compound Annual Growth Rate (CAGR) of 5.6% from 2023 to 2031, poised to surpass US$ 20.2 billion by the conclusion of 2031.

The surge in global lung cancer cases has fueled the demand for surgical procedures. As per the World Health Organization (WHO), approximately 2.21 million cases of lung cancer were documented worldwide in 2020. Advances in surgical technologies, including minimally invasive techniques, are enhancing the safety, efficiency, and patient experience associated with lung cancer surgeries. This evolution is contributing to the expansion of the global market, fueled by heightened patient demand for early-stage care, where surgical interventions exhibit optimal efficacy.

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Treatment options for lung cancer encompass a range of modalities, including surgery, radiation therapy, chemotherapy, targeted therapy, immunotherapy, or a blend of these strategies. The specific surgical intervention chosen for a patient depends on several factors, including the tumor’s location and size, the patient’s overall health, and the stage of cancer progression.

Key Players:

Medtronic, Siemens Healthineers, Accuray Incorporated, KARL STORZ, Olympus Corporation, Intuitive Surgical, and Ethicon (Johnson & Johnson Services, Inc.).

Segmentation:

Procedure
- Lobectomy
- Segmentectomy
- Wedge Resection
- Pneumonectomy

Approach
- Thoracotomy
- Minimally Invasive Surgery

End-user
- Hospitals
- Ambulatory Surgical Centers
- Others

Regions Covered:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

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Key Developments:

In July 2022, Medtronic announced the execution of the world’s first lung ablation procedure using the ILLUMISITE fluoroscopic navigation platform. This minimally invasive approach allows precise navigation to even the most remote regions of the lung and can provide a comprehensive biopsy through multi-directional sampling.
In June 2021, Accuray Incorporated declared that targeted radiotherapy using the Accuray Radixact System with Synchrony Technology successfully treats lung cancer in a family pet

Market Trends:

Shift towards minimally invasive and robotic-assisted surgeries.
Growing focus on personalized medicine and targeted therapies.
Rising adoption of multidisciplinary approaches in lung cancer treatment.
Emerging trends in lung cancer screening and early detection programs.

Future Outlook:

The lung cancer surgery market is expected to witness continued growth in the coming years, driven by ongoing research and development efforts, increasing investment in healthcare infrastructure, and rising awareness about lung cancer prevention and treatment. The market is likely to witness the introduction of innovative surgical techniques and advanced technologies aimed at improving patient outcomes and reducing treatment-related complications.

Key Market Study Points:

Assessment of market dynamics, including drivers, challenges, and trends.
Analysis of market segmentation based on service type, sourcing type, application, industry vertical, and region.
Evaluation of regional market trends and growth opportunities.
Examination of competitive landscape and key market players.
Identification of recent developments and strategic initiatives in the lung cancer surgery market.

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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