Thoracotomy Lung Cancer Surgery Trends | Segmentation, Outlook, Industry Report 2029

 

 

The global Thoracotomy Lung Cancer Surgery was valued at US$ 1.23 Bn in 2021 and is expected to reach US$ 1.98 Bn by 2029, finds Future Market Insights (FMI) in a recent market survey. Lung cancer refers to the growth of abnormal cells in the lung tissue.

Non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC) are the two major types of lung cancer. Treatment options for lung cancer usually includes various types of therapies such as chemotherapy, radiation therapy, immunotherapy, targeted drug therapy and surgery.

 

Attempts to cure the disease with surgery involve the removal of the tumour, the surrounding lung tissue, and lymph nodes in the tumour area. Surgery is considered the treatment of choice for localized cancer, including carcinoid tumours.

The rising level of air pollution in developing economies and the increasing research and development activities on cancer treatment are some of the major trends bolstering the market outlook. The National Cancer Institute, for example, has been significantly offering funds to promote new cancer treatment and improve patient care, which in turn, could boost the acceptance of lung cancer removal surgery globally.

 

The Thoracotomy Lung Cancer Surgery holds nearly 10% of the US$ 12 Bn cancer surgery market in 2021. Additionally, substantial investment in research laboratories, the surge in air pollution levels, increasing smoking habits coupled with favourable reimbursement policies, specifically in developed countries will strengthen the growth of the Thoracotomy Lung Cancer Surgery. 2014-2021 Market Demand Outlook for Lung Cancer Surgery compared to 2022-2029 Forecast

Rising air pollution and people getting affected by it is one of the prime factor responsible for the growth of the lung cancer surgery market. As per the lung cancer research foundation, lung cancer is the main reason of cancer death across the world.

 

According to American Cancer Society, it is estimated that in 2022, around 236,740 adults in the U.S. will be diagnosed with lung cancer while there will be 130,180 cases of deaths due to the lung cancer in the same year. Smoking is the prominent risk factor for lung cancer and is responsible for 80% of lung cancer deaths. Non-smokers account for 20% of lung cancer deaths.

 

Exposure to radon gas is another risk factor for lung cancer. This indicates the burden of lung cancer in the region and this is resulting in the growth of the lung cancer surgery market as there is a high demand for cancer treatment in the U.S.

 

The demand for lung cancer surgery grew at a CAGR of 5.5% between 2014 and 2021 globally. The rise in cases of lung cancer expects to raise the demand for lung cancer surgery.  Growing incidences of lung cancer are expected to favour the demand for lung cancer surgery devices, owing to the large patient pool and need for effective treatment. Lung cancer incidences are increasing rapidly with the increase in high smoking rate, environmental pollution, and work-place exposures in milling, construction and automobile repairs.

 

Similarly, cigarette smoking is also one of the most common and known factors for developing lung cancer. Men who smoke often have 23 times more chances to develop lung cancer compared to non-smokers. Non-smokers have 20 to 30% chances of developing lung cancer due to exposure to secondhand smoke at work and home.

 

The lung cancer surgery market is expected to grow in the future, as the emergence of the latest technologies in the medical sector and the introduction of technologically advanced surgical energy instruments are magnifying the demand of this market. Advanced endoscopic devices and surgical instruments have increased the device versatility, thus ease the use of it in complex cases, leading to increase in number of lung resection procedures. Technology transformation has led to a positive impact on the global lung cancer surgery market growth.

 

Considering this, FMI expects global lung cancer surgery to grow at a CAGR of 6.1% through 2029.

 

Which Factors Are Restraining the Demand for Lung Cancer Surgery?

Lung cancer surgeries such as lobectomy, wedge resection, and other procedures are very high-cost surgeries. Affordability of the endoscopy and video-assisted lung surgery procedures is a major problem for a huge chunk of the population in the region. This is due to the absence of health insurance and limited government support policies that cover video-assisted surgeries in developing countries such as South Africa, India, and China.

 

 The absence of social health insurance together with the exclusionary provision of private health insurance schemes are other major factors limiting the lung cancer surgery market growth.

 

Furthermore, post-surgery infections and risks associated with lung surgery are also expected to hamper the growth of the lung cancer surgery market. Lung resection procedures are often associated with various post-surgery complications and infections in some patients. Air leak is the most common complication after the lung resection procedure. Around 15% to 20% of patients reported air leaks after lung resection surgery. Some of the other complications associated with lung resection surgery includes bacterial pneumonia, acute respiratory failure, pulmonary embolism, postoperative haemorrhage, comorbid cardiovascular conditions and other conditions. All these factors might results in restraining the demand for these procedures during the forecast period. Category-wise Insights

Surgical Energy Instruments anticipated continuing Gaining Traction

Based on the product type, the surgical energy instruments segment hold the maximum share of 42.5% in 2021, expanding at 6.6% CAGR during the forecast period. Advanced surgical instruments have increased the device adaptability and ease of use in complex surgical procedures, which drives lung cancer surgical procedures. Furthermore, Technology transformation has supplemented the growth of the surgical energy instruments segment.

 

Why does lobectomy contribute the highest market share by application?

In terms of Application, the lobectomy segment accounted for 68.0% of the total market share in 2021. Growing acceptance of VATS lobectomy is expected to favour the demand for endoscopic surgery equipment and advanced energy equipment and drive the growth of the lobectomy segment.

 

Which End User will be Most Preferred?

By End Users, Hospitals hold over 78.8% of the market in 2021 and this trend is expected to continue during the forecast period as well. Competitive Landscape

Market players lay greater emphasis on collaboration and partnership activities with local and regional players to expand sales and after-sales services for lung cancer surgery devices.

 

Through partnerships and acquisitions with regional players and third party service vendors, manufacturers expand their presence and product availability on a global level which is anticipated to fuel the growth of the lung cancer surgery devices market. For instance:

 

In June 2021, Intuitive launches robotic-assisted surgical stapler SureForm.

In December 2020, Medtronic Private Limited launched the first 3-row Circular Stapler with varied height staples - EEA Circular Stapler with Tri-Staple Technology in India.

In April 2019, Johnson & Johnson completed the acquisition of Auris Health Inc. a robotic platform technology manufacturer.

In March 2019, Titan Medical collaborated with Teleflex Inc. for the development of robotic ligation technology.

For More Info: https://www.futuremarketinsights.com/reports/lung-cancer-surgery-market