The Lung cancer surgery Market is estimated to be valued at US$ 6.40 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Lung cancer surgery involves removal of lung cancer tumors through surgery. The removal of tumors helps in improving survival rates and reducing cancer recurrence. The key lung cancer surgeries include wedge resection, segmental resection, lobectomy and pneumonectomy. Lung cancer surgeries are majorly performed using minimally invasive surgical procedures such as video-assisted thoracoscopic surgery (VATS) to reduce postoperative pain and recovery time.

Market Dynamics:
The growth of the lung cancer surgery market is attributed to the rising incidence of lung cancer across the globe. According to the World Health Organization (WHO), lung cancer was the leading cause of cancer death in 2020, accounting for over 1.80 million deaths, which is more than deaths due to colon, breast and prostate cancers combined. The preference for minimally invasive surgical procedures such as VATS over conventional open surgeries is expected to drive the market growth during the forecast period. VATS surgeries offer advantages such as less postoperative pain, reduced hospital stay and recovery time, and improved quality of life. Furthermore, technological advancements in surgical equipment and introduction of robotic surgery for lung resection and mediastinal staging procedures are further expected to support the market growth over the forecast period.

Segment Analysis
The lung cancer surgery market is dominated by the thoracotomy sub segment. Thoracotomy accounted for approximately 60% share of the overall market in 2022. This is because thoracotomy provides direct access to areas of the lungs and spaces between the lungs and chest wall for surgery.

PEST Analysis
Political: The governments across various countries are focusing on various initiatives to increase awareness about lung cancer. For instance, the American Lung Association funds research and provides patient services to combat lung cancer.
Economic: The rising incidence of lung cancer and increasing healthcare expenditure are driving the growth of the lung cancer surgery market. The market is also fuelled by new product launches and adoption of advanced surgical technologies.
Social: Growing public awareness about lifestyle-related risk factors associated with lung cancer such as tobacco consumption is supporting early detection and treatment. Various social media campaigns aim to educate people about the symptoms of lung cancer.
Technological: Technological advancements in surgical robots, navigation systems and imaging technologies are helping surgeons to perform minimally invasive surgeries with better accuracy. This is reducing post-operative complications and hospital stay duration.

Key Takeaways
Global Lung Cancer Surgery Market Size is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing adoption of minimally invasive surgical procedures.

The North American region dominated the market in 2022 with a share of over 35%, owing to the rising incidence of lung cancer coupled with availability of advanced healthcare infrastructure and growing medical reimbursements. The Asia Pacific region is anticipated to be the fastest growing market during the forecast period, propelled by expanding healthcare sector and increasing healthcare expenditure.

Key players operating in the lung cancer surgery market include Ethicon (Johnson & Johnson), Medtronic, Intuitive Surgical, Olympus Corporation, Karl Storz, Teleflex Incorporated, Accuray Incorporated, AngioDynamics, CONMED Corporation, Trovagene, Varian Medical Systems, Medrobotics Corporation, Siemens Healthineers, Atricure, Inc., and Novadaq Technologies Inc. These players are focusing on new product launches and collaborations to consolidate their market position.

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