Lung Cancer Surgery Market 2021 | Scope of Current and Future Industry 2029

Over 2 million new cases of lung cancer were registered globally by the end of 2018, as reported by the American Cancer Society, Inc. The global lung cancer surgery landscape currently represents a US$ 1 Bn market and will expand at a strong CAGR during the period of projection, 2019 – 2029. A new Future Market Insights (FMI) report states that the use of techniques that are minimally invasive, video assisted, and robot assisted is growing, which is shaping the future of lung cancer surgery market.

Robotic thoracic surgery would remain highly preferred over traditional surgical techniques, as it offers higher magnification, more precision, and eliminate the need for large-incision operations. Development of new surgical robots may cut down the cost of devices and increase shift towards robotic lung cancer surgery. Introduction of new imaging techniques for enhancing visualization, angled lenses for enhanced accessibility, and end staplers will continue to enhance the video-assisted lung cancer surgery procedure.

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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.
    • In September 2019, Johnson & Johnson launched ECHELON CIRCULAR™ Powered Stapler for thoracic, colorectal, and gastric surgery.
    • In 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,
    • Medtronic 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.

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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.

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,
    • In 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.

For Information On The Research Approach Used In The Report, Request TOC@ https://www.futuremarketinsights.com/toc/rep-gb-396

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