The lung cancer surgery market is projected to be worth USD 7.79 billion by 2030, growing at a CAGR of 4.10%. This development can be credited to the increasing frequency of lung cancers, increasing tobacco smoking trend among youngsters, increasing elderly populace, and obtainability of reimbursements.
Lung cancer is among the most-popular reasons for cancer demise among the worldwide populace. Its occurrence and death rate is growing significantly because of the trend of smoking in nearly each age group throughout the world. Lung cancer, which primarily comprises bronchial and tracheal cancers, is measured as a threat to individuals worldwide, resulting in a heavy financial and emotional load on individuals and their families.
As per the GLOBOCAN, globally, lung cancer is the most-widespread malignancy, with an age-consistent rate of 22.4 per 100,000 person-years. Usually, men have a bigger risk of this condition than women. The occurrence rate in men was 222.0 and that in women was 186.0 in the year 2020. The increasing occurrence is boosting the need for operations and, ultimately, the market.
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In 2022, the thoracotomy category dominated the lung cancer surgery market with a larger market share of more than 62%. The thoracotomy category is further segmented into pneumonectomy, lobectomy, segmentectomy, and sleeve resection. The development of the thoracotomy category is primarily credited to the increasing count of these operations on lung cancer patients. Operation is an impactful treatment when the tumor is identified before spreading.
As per the Journal of Thoracic Disease (JTD), a projected 222,520 surgical operations for lung cancer are done each year. Among the numerous kinds of thoracic operations, the most popular is the lobectomy, which is responsible for 68.2% of those conducted, followed by wedge resection, which is accountable for a share of 18.1%.
During the projection period, the surgical instruments category is projected to advance at the rate of 4.6%, in the industry for lung cancer surgeries, on the basis of surgical devices. This can be credited to the increasing count of operations for lung cancer because of its high occurrence and the government aid and backing for the same. Furthermore, the improvements in operating instruments significantly surge their adaptability and shorten their usage during multifaceted operations.
In 2022, the North American region dominated the market with a market share of 38%, credited to the growing pace of technical improvements in the treatment of lung cancer, the rising occurrence of this illness in the region, the thriving trend of tobacco smoking, and rising stress on its initial monitoring.
Hence, the increasing frequency of lung cancers, increasing tobacco smoking trend among youngsters, increasing elderly populace, and obtainability of reimbursements are the major factors contributing to the growth of the lung cancer surgery market.
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