Expanding Patient Pool and Surging Healthcare Expenditure Propel Lung Cancer Surgery Market, Says FMI
The market of lung cancer surgery has been growing moderately with increasing prevalence of lung cancer, especially in China, Japan, and the US. Market players are developing robotics-enabled lung cancer surgical techniques that ensure faster recovery time, and minimum invasion. Companies, including Medtronic, and Johnson & Johnson, are extending the applicability of surgical devices to urology, gynecology, and colorectal surgeries. In addition, governments in developed and developing countries are significantly investing in healthcare sector.
North America and Europe currently hold significant market share on back of increasing healthcare expenditure. Whilst the East Asian market is exhibiting rapid growth owing to expanding patient pool. As per FMI’s new business intelligence report, global lung cancer surgery market is projected to grow at a promising CAGR of ~6% over forecast period (2019-2029).
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Surgical Energy Instruments at Forefront, RATSS Witness Faster Adoption
Surgical energy instruments remain significantly preferred for performing lung cancer surgeries through 2029, generating ~US$ 900 Mn. FMI reveals that advanced surgical energy instruments are expected to hold ~70% of market share. Ultrasonic instruments will maintain their supremacy throughout forecast period, while advanced bipolar instruments continue to grow promisingly.
Advent of robotics in healthcare sector has been driving the adoption of robotic-assisted thoracic surgery systems (RATSS), despite the product category generating least revenue. Further, RATSS is estimated to witness notable spike in revenues in present year. In North America and East Asia, surgical energy instruments have generated maximum revenue, while the regions exhibit fastest adoption rate of RATTS.
Preview Analysis of 2019 Analysis and Review of Lung Cancer Surgery Market by Product – Thoracoscope, Mediastinoscope, Bronchoscope, Robotic-assisted Thoracic Surgery System, Surgical Stapler, and Surgical Energy Instrument for 2019 – 2029:https://www.futuremarketinsights.com/reports/lung-cancer-surgery-market
Lobectomy Maintains its Hegemony Throughout
Growing at a promising rate, lobectomy will remain highly-preferred lung cancer surgery, particularly in developed countries, finds FMI. Further, video-assisted thoracoscopic surgery (VATS) lobectomy is replacing conventional lobectomy on back of decreased morbidity, quicker recovery, and shorter hospital stays.
Segmentectomy and wedge resection, on the other hand, are suitable for early stage non-small cell lung cancers. While wedge resection observed notable spike in revenues in 2017, segmentectomy is poised to witness periodic fluctuations. Demand growth for both the techniques remain steady over next decade, collectively contributing to a fourth market share.
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Analysts at FMI opine that “Incidents of lung cancer have been increasing in recent years, as such, need for minimally-invasive advanced lung cancer surgery methods becomes paramount. Market players are integrating robotics with existing surgery techniques to decrease endoleak complexities. Further, lung cancer surgery market is bolstered by favorable government regulations.”
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