Lung Cancer Surgery Market Potential Growth, Share, Demand and Analysis of Key Players- Research Forecasts to 2029 | Johnson & Johnson, Medtronic Plc. Olympus Corporation | FMI
A patient diagnosed with early lung cancer delaying the surgery poses serious health risk leading to the spread and upstaging of the tumor. The American Association for Thoracic Surgery concluded that there was a 4% increased risk of upstaging of patients with stage 1 non-small cell lung cancer to stage 2, 3, or 4, each week before their surgery. The National Comprehensive Cancer Network suggests lung cancer resection surgery should be done within eight weeks for stage 1 NSCLC.
The surge in mortality rates of patients with lung cancer can be traced as early as 1930s. A quarter of all cancer deaths in America in 2018 can be attributed to lung cancer (projected 154,050 Americans are expected to die from lung cancer). Alarmingly, the survival rate of lung cancer is the least vis-à-vis other leading cancer sites (prostate 98.2 percent, breast 89.6 percent and colorectal 64.5 percent). Further, more than 50 percent patients suffering from lung cancer die within a year of being diagnosed. Active smoking accounts for close to 90 percent of lung cancer cases, radon leads to 10 percent, while occupational exposures to carcinogens is responsible for 9 to 15 percent and air pollution about 1 to 2 percent.
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.
Rising Cases of Lung Cancer to Push Market Growth; Associated Risks May Hamper Revenue Generation
A diagnosis of lung cancer marks the starting of an expedition full of psychological, emotional, physical and practical challenges. Surgery can be called the Hobson’s choice, which gives patients a ray of hope for survival. The sheer increase in the number of lung cancer patients has resulted in a boom in the lung cancer surgery market. Besides, robotic surgery and technological advances have bolstered revenues in the lung cancer surgery market. Moreover, some evidences claim consuming processed meat, alcoholic drinks and red meat might aggravate lung cancer. However, studies reveal that the intake of foods containing isoflavones (oestrogen-like properties in plants) might reduce the risk of lung cancer among people who have never smoked and in the case of heavy smokers, consuming vitamin C might lessen the risk of lung cancer.
However, surgery is not the panacea for lung cancer and surgical intervention can sometimes render patients unfit to carry out certain strenuous physical activities. Risks associated with lung cancer surgery include excessive bleeding, anesthesia-related complications, blood clots in the lungs or legs, pneumonia and wound infections. These factors are expected to restrict growth of the lung cancer market. The presence of a limited number of surgeons is another revenue puller.
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Rapid Rise in the Number of Lung Cancer Patients Across the World
Lung cancer is the most common type of cancer among women and men alike. The World Cancer Research Fund data indicates that two million new cases of lung cancer have been registered in 2018. Hungary tops the list in terms of the number of cancer patients followed by Serbia. The only exception is that with regards to women, Denmark comes second to Hungary. Among men, the highest lung cancer rates have been found in Central and Eastern Europe and Eastern Asia. Whereas, North America, Eastern Europe and Eastern Asia have the highest number of lung cancer rates in women.
Segmentation of the Lung Cancer Surgery Market
Lung cancer surgery can have fatal consequences and it is required to be performed by an experienced surgeon. The types of operations that help treat non-small cell lung cancer are highlighted below:
- Wedge resection or Segmentectomy
- Sleeve resection
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Artificial Intelligence Taking Robotic Surgery to New Heights: Companies to Embrace Newer Technologies
Robotic surgery could rise exponentially by billions of dollars as machines are used to treat patients. On the other side, a few scholars who were awarded grants by the National Cancer Institute have proposed the creation of a first predictive analysis model for early stage lung cancer. This predictive analysis will benefit patients and give doctors prior knowledge in deciding if any patient can avoid the aftermath of chemotherapy.
This research publication on the lung cancer surgery market presents a comprehensive performance evaluation of the market on the global platform with the inclusion of historical data, valuable insights, facts, and figures. The industry-validated and statistically supported data helps in acquiring a clearer picture of the current scenario while estimating future opportunities for revenue growth of the lung cancer surgery market. This report on the lung cancer market includes projections that have been based on a suitable set of methodologies and assumptions and provides information and analysis for the key market segments and target geographies.
The report on the lung cancer surgery market analyzes these key aspects:
- Market dynamics
- Market segments
- Historical as well as current market sizing
- Market forecast and valuation
- Trends, challenges and market advancements
- Demand and supply scenario
- Companies operating in the global market
- Technology innovation
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The lung cancer surgery report analyzes the performance of the market across the following regions:
- Eastern Europe
- Western Europe
- North America ( U.S. , and Canada)
- Latin America ( Argentina, Brazil)
- Asia Pacific ( Australia and New Zealand, India, China, ASEAN)
- MEA ( North Africa, GCC countries, South Africa )
The lung cancer surgery market report is a collection of useful information gathered after a qualitative and quantitative assessment by industry analysts and inputs from industry experts and other industry participants across the value chain. Besides, the report provides an in-depth analysis of parent market trends, indicators of macro-economic and governing factors along with market attractiveness of the various segments. The report also highlights the qualitative impact of various market factors on market segments and geographies.
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