The lung cancer surgery market was USD 5.65 billion in 2022, and it is likely to propel at a rate of 4.10% from 2022–2030, to reach USD 7.79 billion by 2030, as per a report by P&S Intelligence. The rising incidence of lung cancers, increasing tobacco smoking by younger generation, growing elderly population, and reimbursement availability are driving the growth of the industry.
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The thoracotomy category had the larger share of revenue in 2022, of over 62%. The dominance of this category is mostly credited to the increasing number of lung cancer surgeries, such as lobectomy, sleeve resection, segmentectomy, and pneumonectomy.
As per the Journal of Thoracic Disease, around 222,520 surgical operations are conducted every year for lung cancer. The lobectomy accounts for a 68.2% share, and it is the most-common thoracic surgery. Wedge resection surgery has an 18.1% share.
Moreover, the use of powered surgical instruments is rising because they allow for quicker procedures with outstanding functionality and reliable performance compared to the manual instruments.
Moreover, the key players are laying emphasis on launching new technologies, for meeting the growing demand for advanced instruments with high flexibility and usability, the requirement for which is burgeoning in lung cancer surgeries.
Due to the rising number for lung cancer surgeries and funding from governments, a lung cancer surgery market growth of 4.6% is projected in the surgical instruments category in the near future. It is because every surgery requires some kind of instruments, such as cautery, scalpels, retractors, suction pumps and tubes, forceps, scissors, clamps, and IV needles and tubing.
APAC will have the fastest growth in the near future because of the rapid healthcare infrastructure development, increasing funding by government and initiatives for raising awareness, and growing medical tourism industry in India and China.
Hence, with the rising elderly population and the rising number of awareness campaigns, the demand for lung cancer surgeries will grow considerably in the years to come.
