Lung Cancer Surgery Market by Procedure (Thoracotomy (Lobectomy, Pneumonectomy, Segmentectomy), Minimally Invasive), Device (Surgical (Clamps, Forceps, Retractors, Stapler), Monitoring (Camera, Trocar), Endoscopic Instrument) - Global Forecast to 2021
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 global lung cancer surgery market is segmented based on device, procedure, and region. On the basis of device, the lung cancer surgery market is segmented into surgical instruments, monitoring and visualizing systems, and endosurgical equipment. The monitoring and visualizing systems segment is expected to register the highest CAGR during the forecast period. Increasing awareness about advanced treatment procedures such as video-assisted thoracoscopic surgeries (VATS) and laser surgeries are the factors driving the growth of this segment.
On the basis of procedure, the lung cancer surgery 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 global lung cancer surgery. These surgeries are widely adopted to confirm the diagnosis of lung cancer, remove tumours and scar tissue, or fix air leaks. Moreover, availability of skilled professional for performing thoracotomy and less time for surgery are the major factors that will drive the growth of this segment.
Geographically, North America dominates the global lung cancer surgery market. Growth in the North American segment is primarily driven by the rapid growth in the aging population, availability of reimbursement for lung cancer surgeries, and increasing incidence of lung cancer.
The major factors contributing to the growth of the global lung cancer surgery market include the increasing incidence and prevalence of cancer, increasing lung cancer awareness campaigns, and rising aging population. On the other hand, high cost of lung cancer surgery is restraining the growth of this market. The high growth potential in the Asian region provides opportunities for players in the lung cancer surgery market.
The major players in the lung cancer surgery market are 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).
Apart from comprehensive geographic and devices analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by players to maintain and increase their shares in the market.
Reasons to Buy the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Companies purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the lung cancer surgery market. The report analyses the lung cancer surgery market by device, procedure, and region.
Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the lung cancer surgery market
Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the lung cancer surgery market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for lung cancer surgery across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the lung cancer surgery market