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Lung Cancer Surgery Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

Published : Oct 2022

Report ID: ARC2715

Pages : 250

Format : Lung Cancer Surgery Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The Global Lung Cancer Surgery Market Size accounted for USD 5.7 Billion in 2021 and is projected to achieve a market size of USD 8.3 Billion by 2030 rising at a CAGR of 4.3% from 2022 to 2030. Cancer is a disease caused due to abnormal cell division without control and that can invade nearby tissues. Cancerous cells can also spread to other organs of the body through the blood and lymph systems. Cancer is the second major leading cause of death after cardiovascular disorders. Lung cancer is a Product of cancer that starts from the lung and may spread to other organs. Lung cancer contributes a major reason of all cancer deaths globally.

Global lung cancer surgery market revenue is estimated to reach USD 8.3 Billion by 2030 with a CAGR of 4.3% from 2022 to 2030

Lung Cancer Surgery Market Report Statistics

  • Global lung cancer surgery market revenue is estimated to reach USD 8.3 Billion by 2030 with a CAGR of 4.3% from 2022 to 2030
  • North America lung cancer surgery market share accounted for over 36% shares in 2021
  • According to the American Cancer Society’s estimates, there will be 236,740 new cases of lung cancer in the U.S.
  • Asia-Pacific lung cancer surgery market growth will record fastest CAGR from 2022 to 2030
  • Based on procedure, thoracotomy gathered over 60% of the overall market share in 2021
  • Increasing incidences of lung cancer will fuel the global lung cancer surgery market value
  • Growing technological advancement in lung cancer treatment is a popular lung cancer surgery market trend that is fueling the industry demand

People who smoke and consume tobacco products have the greatest risk of lung cancer. The risk of lung cancer increases with the time period and number of cigarettes smoked or tobacco products consumed. The treatment for lung cancer depends on the Product and stage of cancer. Mainly there are 2 types of lung cancer such as small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC). Several treatments are available for the treatment of lung cancer viz. chemotherapy, immunotherapy, laser therapy, radiation therapy, targeted therapy, and surgery. Surgery is the final option for the treatment of lung cancer and it involves surgically removal of cancer tissues from the lung. The approaches for surgeries are large incision in the chest wall known as thoracotomy or via video-assisted thoracoscopy (VATS), a procedure in which a scope like device is inserted through small incisions in the chest wall and through which a tumour is removed. Three major types of surgery are done to treat lung cancer and these depend on the degree of infection, size and location of the tumour. These are wedge resection (segmental resection), lobectomy, pneumonectomy. New surgical approaches to robotic surgery and technological developments such as minimally invasive surgical procedures are new trends in the lung cancer market. According to the world health organization, the consumption of tobacco products is the major cause of lung cancer and tobacco contributes around 80% of all lung cancers. As per the WHO report lung cancer cases in developing economies is expected to reach 2,530,820 by 2025.

Global Lung Cancer Surgery Market Dynamics

Market Drivers

  • Growing prevalence of lung cancer
  • Increasing trend of smoking tobacco
  • Rising base of elderly population
  • Surging number of diagnostic centers

Market Restraints

  • High cost of lung cancer treatment
  • Shortage of skilled oncologists

Market Opportunities

  • Government funding for early detection of cancer
  • Rising technological advancements in lung cancer surgeries

Lung Cancer Surgery Market Report Coverage

Market Lung Cancer Surgery Market
Lung Cancer Surgery Market Size 2021 USD 5.7 Billion
Lung Cancer Surgery Market Forecast 2030 USD 8.3 Billion
Lung Cancer Surgery Market CAGR During 2022 - 2030 4.3 %
Lung Cancer Surgery Market Analysis Period 2018 - 2030
Lung Cancer Surgery Market Base Year 2021
Lung Cancer Surgery Market Forecast Data 2022 - 2030
Segments Covered By Product, By Procedure, By End-User, And By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Ethicon LLC, Intuitive Surgical, Inc., Karl Storz GmbH & Co. KG, Olympus Corporation, Accuray Inc., AngioDynamics Inc., Teleflex Incorporated, Ackermann Instrumente GmbH, Medtronic Plc., Siemens Healthcare, Surgical Holdings, Wexler Surgical Inc, Covidien PLC, Scanlan International Inc.
Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Covid-19 Impact on Global Lung Cancer Surgery Market

According to an article published by Dana Farber Cancer Institute in 2020, there was a 46% reduction in the surgery of the six most prevalent cancer types including lung cancer because of the Covid-19 pandemic. The lung cancer surgery market is experiencing tremendous challenges during this pandemic to diagnose the virus-related lung symptom and cancer related symptoms, along with higher risk of infection in the hospital setting. Resources requirement has been doubled in diagnosis and treatment of lung cancer due to the covid-19 pandemic, these results in increased expenditure towards healthcare facilities. The pandemic also affects the market indirectly since raised disruptions in demand, manufacturing and supply chain.

Lung Cancer Market Dynamics

The increasing prevalence, incidence of lung cancer and the increasing adoption of surgical procedures for lung cancer treatment are the major driving factors for market growth. Sedentary lifestyle, rising air pollution and consumption of tobacco products are the factors responsible for the growth of the market. Rising government support and funding towards R&D would swift the growth of the market. Technological advancements in treatment of lung cancer surgery and arrival of new minimally invasive surgeries are some of the factors fuelling growth of the market. Technological development in endoscopic visual devices and various surgical devices improve the ease of the surgery and have resulted in high success rates during difficult conditions. However, the hefty costs for the treatment of lung cancer and limited medical infrastructure despite high patient pool are some of the factors restraining the market growth.

Lung Cancer Surgery Market Growth 2022 - 2030

Lung Cancer Surgery Market Segmentation

The worldwide lung cancer surgery market is split based on product, procedure, end-user, and geography. The product segment is further sub-segmented as surgical instruments and monitoring & visualization system. The procedure segment is further bifurcated as thoracotomy and minimally invasive surgeries. The end-user segment is diversified into hospitals/clinics, ambulatory surgical centers and research laboratories. The surgical instruments segment is expected to hold the largest lung cancer surgery market share owing to the rising number of patients requiring lung cancer surgeries.

Lung Cancer Surgery Market By Product

  • Surgical Instruments
    • Powered Surgical Instruments
    • Hand Instruments
  • Monitoring And Visualization System

Increasing incidences of lung cancer will fuel the global lung cancer surgery market value

Lung Cancer Surgery Market By Procedure

  • Thoracotomy
    • Lobectomy
    • Sleeve Resection
    • Segmentectomy
    • Pneumonectomy
  • Minimally Invasive Surgeries

Based on procedure, thoracotomy gathered over 60% of the overall market share in 2021

Lung Cancer Surgery Market By End-User

  • Hospitals/Clinics
  • Ambulatory Surgical Centers
  • Research Laboratories

Lung Cancer Surgery Market Regional Outlook

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • India
  • Japan
  • China
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

The Middle East & Africa

  • South Africa
  • GCC Countries
  • Rest of the Middle East & Africa (ME&A)

Lung Cancer Surgery Market Regional Analysis

North America is expected to dominate the market due higher prevalence rate of lung cancer coupled with advanced healthcare infrastructure supporting technologically advanced surgeries. After North America, Europe also is anticipated to have a considerable growth in the market as owing to growth in lung ailments. The Asian market is expected to witness the highest growth during the forecast period, primarily due to the presence of rising patient pool, increasing incidence & prevalence of lung cancer, rapid developments in healthcare sector and rising trend of smoking tobacco.

Lung Cancer Surgery Market Players

The prominent players of the global lung cancer surgery market involve Ethicon LLC, Intuitive Surgical, Inc., Karl Storz GmbH & Co. KG, Olympus Corporation, Accuray Inc., AngioDynamics Inc., Teleflex Incorporated, Ackermann Instrumente GmbH, Medtronic Plc., Siemens Healthcare, Surgical Holdings, Wexler Surgical Inc, Covidien PLC, Scanlan International Inc.Growing technological advancement in lung cancer treatment is a popular lung cancer surgery market trend that is fueling the industry demand

Frequently Asked Questions

What is the size of global lung cancer surgery market in 2021?

The market size of lung cancer surgery market in 2021 was accounted to be USD 5.7 Billion.

What is the CAGR of global lung cancer surgery market during forecast period of 2022 to 2030?

The projected CAGR of lung cancer surgery market during the analysis period of 2022 to 2030 is 4.3%.

Which are the key players operating in the market?

The prominent players of the global lung cancer surgery market are Ethicon LLC, Intuitive Surgical, Inc., Karl Storz GmbH & Co. KG, Olympus Corporation, Accuray Inc., AngioDynamics Inc., Teleflex Incorporated, Ackermann Instrumente GmbH, Medtronic Plc., Siemens Healthcare, Surgical Holdings, Wexler Surgical Inc, Covidien PLC, and Scanlan International Inc.

Which region held the dominating position in the global lung cancer surgery market?

North America held the dominating lung cancer surgery during the analysis period of 2022 to 2030.

Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?

Asia-Pacific region exhibited fastest growing CAGR for lung cancer surgery during the analysis period of 2022 to 2030.

What are the current trends and dynamics in the global lung cancer surgery market?

Growing prevalence of lung cancer, increasing trend of smoking tobacco, and rising base of elderly population drives the growth of global lung cancer surgery market.

Which product held the maximum share in 2021?

Based on product, surgical instruments segment is expected to hold the maximum share lung cancer surgery market.

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