Lung Cancer Surgery Market Growth Opportunities, Regional Trend, Revenue And Growth Forecast 2029 | Ethicon (Johnson & Johnson), Medtronic Plc. Olympus Corporation & so on…
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 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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- East Asia to remain the frontrunner in the market due to 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) is expected to foresee a noteworthy spike in revenues in the foreseeable future.
- Lobectomy is likely to witness increased adoption, particularly in developed nations.
- Growing prevalence of lung cancer because of growing air pollution levels is driving market growth.
- Rising number of cigarette smokers will enhance the business growth in the near future.
- Rising patient awareness levels, along with adoption of advanced technologically such as robotics is pushing the market growth.
- High cost associated with the robotic surgeries can act as an obstacle in emerging economies amid the forecast period.
- Lack of awareness regarding the surgeries and 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.
Market players are implementing product portfolio development strategy 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 on regulatory approvals and new product launches.
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