Evolving Horizons: Lung Cancer Surgery Market Gains Momentum, Reaching a Valuation of US$ 1.98 Billion by 2029

According to a recent market survey conducted by Future Market Insights (FMI), the global Lung Cancer Surgery Market was valued at US$ 1.23 billion in 2021 and is expected to reach US$ 1.98 billion by 2029.

Robotic thoracic surgery would continue to be preferred over traditional surgical techniques because it provides greater magnification, greater precision, and eliminates the need for large-incision procedures. The development of new surgical robots may reduce device costs and increase the shift towards robotic lung cancer surgery. The addition of new imaging techniques to improve visualisation, angled lenses to improve accessibility, and end staplers will further improve the video-assisted lung cancer surgery procedure.
Intuitive Surgical is the sole player in robotic lung cancer surgery market with its DaVinci system. Medtronic and Johnson & Johnson are developing surgical robots and are challenging the monopoly of Intuitive Surgical in lung cancer surgery market.

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Key Takeaways - Lung Cancer Surgery Market Study
•Introduction of powered and tissue-specific endoscopic stapling technology provides significant benefits to reduce cost, resource usage, improve clinical outcome compared to manual staplers.

oIn September 2019, Johnson & Johnson launched ECHELON CIRCULAR Powered Stapler for thoracic, colorectal, and gastric surgery.

oIn March 2016, Intuitive Surgical Inc. got U.S. FDA approval for its da Vinci Xi Endowrist Stapler 30 (30 mm) instruments and reloads.

•Key market players are focusing on the development of new robot-assisted thoracic surgery system. Partnerships & collaborations with best in class surgical device and visualization technology developers are the strategic focus of manufacturers. For instance,

oMedtronic partnered with Karl Stroz, a best in class endoscopic imaging devices manufacturer. In June 2019, Medtronic announced its upcoming robotic-assisted surgical platform including three-dimensional vision systems from Karl Stroz.

•East Asia is expected to be the prominent region in the lung cancer surgery market during the forecast year. This is attributed to high prevalence of lung cancer in China & Japan increasing the demand for lung cancer surgery. According to the International Agency for Research on Cancer, from overall cancer patients in China and Japan, around 18.1% and 16.8% patients respectively were having lung cancer.

Development in robotic thoracic surgery platforms and innovation in tissue-specific endoscopic stapling and vessel sealing techniques to reduce endoleak complications will further broaden the growth prospects of the lung cancer surgery market.

Product Portfolio Expansion to Increase Global Footprint
Manufacturers are adopting product portfolio expansion strategy to increase their footprint in the global lung cancer surgery market. Market players such as Pentax Medical, Olympus, Johnson & Johnson, Intuitive Surgical Inc. are continuously focusing on new product launches and regulatory approvals. For instance,

•In July 2016, PENTAX Medical launched new DEFINA high-definition pulmonology endoscopy system for crystal clear imaging during surgical procedures.

•In April 2018, Intuitive Surgical Inc. received U.S. FDA clearance for da Vinci Vessel Sealer Extend single-use, the fully wristed bipolar electrosurgical instrument for lung cancer surgery procedures such lobectomy, segmentectomy, and wedge resection.

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Lung Cancer Surgery Market Structure Analysis
•The global lung cancer surgery market represents a fragmented competition scenario. Most of the key players maintain their strategic focus on the development of advanced energy devices, introduction of new imaging technology, and joint ventures & collaborations for innovative technological development. For instance,

oIn March 2019, Titan Medical and Teleflex incorporated announced collaboration for the development of robotic ligation technology.

•Market leaders such as Ethicon (Johnson & Johnson), Medtronic Plc. Olympus Corporation, Intuitive Surgical Inc., PENTAX Medical Company contributed more than half of the market value share in the lung cancer surgery market in 2018.

•Robotic-assisted lung cancer surgery market is dominated by Intuitive Surgical Inc., manufacturer of da Vinci System. da Vinci System is the only robotic surgery system available for lung cancer surgery such as lobectomy.

•For a greater hold in the target market, lung cancer surgery device manufacturers continuously emphasis on strategies, such as mergers and acquisitions. For instance, in April 2019, Johnson & Johnson completed the acquisition of Auris Health Inc. a robotic platform technology manufacturer.

Learn More About Report :

The lung cancer surgery market a new study from Future Market Insights, provides unparalleled insights on evolution of the lung cancer surgery market during 2014 to 2018 and presents demand projections during 2019 - 2029 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 seven prominent regions.

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Key Segment

Product
•Surgical Energy Instruments
oAdvanced Energy Instruments
Advanced Bipolar Instruments
Ultrasonic Instruments

oBasic Energy Instruments
Bipolar Instrument
Monopolar Instruments
•Thoracoscopes
•Mediastinoscopes
•Bronchoscopes
•Robotic-Assisted Thoracic Surgery Systems
•Surgical Staplers

Application
•Lobectomy
•Segmentectomy
•Wedge Resection
•Pneumonectomy

End User
•Hospitals
•Ambulatory Surgical Centers

Region
•North America
•Latin America
•Europe
•South Asia
•East Asia
•Oceania
•Middle East and Africa

About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 7 years.

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Report : https://www.futuremarketinsights.com/reports/lung-cancer-surgery-market

This release was published on openPR.