The global lung cancer surgery market is slated to register a sturdy CAGR during the forecast period, 2019 to 2029. FMI’s report opines that the usage of techniques that are minimally invasive, robot-assisted, and video-assisted is expanding, which is determining the future of the global market. However, at present, the market growth has slowed down owing to the COVID-19 pandemic.
“Growth in robotic thoracic surgery platforms, as well as advancement in vessel sealing techniques and tissue-specific endoscopic stapling to limit end leak complications, will further widen the development prospects of the lung cancer surgery market.” says an FMI analyst.
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Key Highlights
- East Asia remains the frontrunner in the market due to the high occurrence of lung cancer in Japan & China underpinning demand for lung cancer surgery.
- Surgical energy instruments will be notably preferred for performing lung cancer surgeries throughout the forecast period.
- Robotic-assisted thoracic surgery systems (RATSS) are expected to foresee a noteworthy spike in revenues in the foreseeable future.
- Lobectomy is likely to witness increased adoption, particularly in developed nations.
Drivers
- The growing prevalence of lung cancer because of growing air pollution levels is driving the market growth.
- The rising number of cigarette smokers will enhance the business growth in the near future.
- Rising patient awareness levels, along with the adoption of advanced technologies such as robotics is pushing the market growth.
Restraints
- The high cost associated with robotic surgeries can act as an obstacle in emerging economies amid the forecast period.
- Lack of awareness regarding the surgeries and the presence of alternative treatments might impact the market growth.
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COVID-19 Impact on the Market
The COVID-19 pandemic has laid an unprecedented burden on the healthcare system through first quarter in 2020 that has redirected most of the resources comprising equipment and healthcare professionals towards treating CIVID-19 patients. The lung cancer surgery market is encountering increased challenges due to a higher risk of infection as well as complications of diagnosis amid virus-related symptoms and cancer-related symptoms.
Competitive Landscape
Market players are implementing product portfolio development strategies to boost their market footprint in the worldwide lung cancer surgery market. Some of the key market players operating in the global market are Olympus, Pentax Medical, Intuitive Surgical Inc., and Johnson & Johnson are incessantly engaged in regulatory approvals and new product launches.
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About the Study
The study offers readers a comprehensive assessment of the Lung Cancer Surgery Market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (thoracoscopes, mediastinoscopes, bronchoscopes, robotic-assisted thoracic surgery systems, surgical staplers, and surgical energy instruments), application (lobectomy, segmentectomy, wedge resection, pneumonectomy), end-user (hospitals, ambulatory surgical centers), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
