The global lung cancer surgery market is projected to reach USD 6.7 billion by 2026 from USD 5.4 billion in 2020, at a CAGR of 3.8% during the forecast period. Market growth is largely driven by factors such as the technological advancements in lung cancer treatment, increasing incidence and prevalence of lung cancer, growing trend of smoking tobacco, rising geriatric population, increasing emphasis on early diagnosis & treatment of cancers, and availability of reimbursement.
“The surgical instruments segment accounted for the highest growth rate in the lung cancer surgery market, by surgical devices, during the forecast period“
Based on devices, the lung cancer surgery market is segmented into surgical instruments, monitoring & visualizing, and endosurgical equipment. In 2020, the surgical instruments segment accounted for the largest market share. The rising prevalence & incidence of lung cancer, rising government support and funding, and the increasing adoption of surgical procedures for lung cancer treatment are the factors driving the market growth.
“Minimally Invasive Surgeries segment accounted for the highest CAGR”
Based on procedures, the lung cancer surgery market is segmented into thoracotomy and minimally invasive surgeries. In 2020, the thoracotomy segment accounted for the larger share of the lung cancer surgery market. However, the minimally invasive surgeries segment is expected to grow at the highest CAGR. The growing adoption of minimally invasive techniques, increasing technological advancements, availability of reimbursement policies, and the increasing trend of robotic surgeries are the factors driving the growth of this market segment.
“Asia Pacific: The fastest-growing region lung cancer surgery market”
The Asian market is expected to witness the highest growth during the forecast period, primarily due to the increasing incidence and prevalence of lung cancer, and rising trend of smoking tobacco.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
- By Designation: C-level - 27%, D-level - 18%, and Others - 55%
- By Region: North America - 55%, Europe - 25%, Asia – 15, and RoW – 5%
This report provides a detailed picture of the global lung cancer surgery market. It aims at estimating the size and future growth potential of the market across different segments, such as devices, procedures, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall lung cancer surgery market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.