Lung Cancer Surgery Market: Overview
As per a report published by National Cancer Institute, in 2012, lung cancer accounted for approximately 160,340 deaths across the country and around 220,160 new lung cancer cases were diagnosed in the same year.
As per report of the World Health Organization in 2012, around 1,824,701 deaths are caused due lung cancer annually, and that accounts for only 13% of lung cancer diagnosed cases.
Growing prevalence of lung cancer due to sedentary lifestyle, rising level of pollution, and increasing number of smokers. This, in turn, is creating opportunity for growth of lung cancer surgery market.
Further, technological advancements in treatment method of lung cancer surgery and advent of minimally invasive surgeries are some of the factors fuelling growth of the market.
On contrary, dearth of surgical expertise, limited access to novel treatment approaches, post-surgical pain, and high cost of surgeries are some of the major factors which may limit the market growth in coming years.
The upcoming lung cancer surgery market analysis report provides insight about the upcoming trends and restraining factors likely to shape growth of the market during forecast period (2019-2029). The report also provides a comprehensive analysis of the key companies of the market and offers details about the capacities and competencies of these companies. The market report also focusses on the market’s competitive landscape and provides detail of the product portfolio of various companies.
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Lung Cancer Surgery Market: Competitive Analysis
Advanced surgical equipment and endoscopic devices provide enhanced device versatility along with ease of operations in difficult situations. Registering the demand rate, companies operating in lung cancer surgery market are focusing on development of similar surgical and diagnostic instruments.
For example, Medtronic is introducing robotic-assisted surgery system. It includes surgical specialties general, bariatric, urology, thoracic, gynecology, and colorectal.
Lately, Johnson & Johnson has launched ECHELON CIRCULAR™ Powered Stapler. It is used for gastric, thoracic, and colorectal surgery.
Advent of such technologies are likely to boost the global lung cancer surgery market growth in forthcoming years.
Some of the key companies operating in the global lung cancer surgery market are-
- KARL STORZ GmbH
- Covidien PLC
- Accuray Inc
- Ackermann Instrumente GmbH
- Intuitive Surgical Inc.
- Olympus Corporation
- Trokamed GmbH
- Teleflex Inc.
- Ethicon US LLC
- AngioDynamics Inc.
- Scanlan International Inc.
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Lung Cancer Surgery Market: Key Trends
Introduction of robotics in healthcare has been fuelling adoption rate of robotic-assisted thoracic surgery systems (RATSS). The segment is expected to contribute significantly to global lung cancer surgery market, in terms of revenue.
Further, surgical energy instruments segment is likely to maintain its position throughout the forecast period.
Ultrasonic instrument segment has been witnessing substantial demand rate, and is likely to witness the same in coming years. On the other hand, advanced bipolar instrument is anticipated to observe promising growth rate.
Lung Cancer Surgery Market: Regional Analysis
As per a report published by the World Cancer Research Fund International, high incidence of lung cancer has been recorded in North America and Asia Pacific region. This, in turn, makes these two regions significant lung cancer surgery market.
Rising prevalence of lung cancer surgery market is attributed to growing geriatric population and changing lifestyle.
Favorable reimbursement policy and well-developed healthcare infrastructure are major factors fuelling growth of lung cancer surgery market in North America.
Meanwhile, Asia Pacific Lung surgery market is anticipated to grow on back of increasing incidence of lung cancer, favorable government initiatives, and rising healthcare expenditure.
European market may witness sluggish growth rate, as cases of lung cancer is limited to Hungary, followed by Serbia. Coming to Latin America and the Middle East & Africa, cases of lung cancer is quite less when compared to other developed countries.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.