The lung cancer surgery market involves surgical removal of lung lesions, tumours and cancer-affected parts. Lung cancer surgery techniques include wedge resection, segmentectomy, lobectomy and pneumonectomy depending on location and stage of cancer. Surgery aims to remove cancer from the lungs while preserving maximum healthy lung tissues. It offers curability for early-stage lung cancers and improves survival rates and quality of life. The adoption of minimally invasive techniques like video-assisted thoracoscopic surgery (VATS) and robotic-assisted surgery have significantly reduced recovery time, blood loss and hospital stay. The Global Lung Cancer Surgery Market is estimated to be valued at US$ 7.38 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period from 2024 to 2031. Key Takeaways Key players operating in the Lung Cancer Surgery Market Growth are Bunge Limited, Archer Daniels Midland Company, Cargill, Incorporated, Wilmar International Limited, Tyson Foods, Inc.,JBS S.A.,Darling Ingredients Inc.,IOI Corporation Berhad, Ventura Foods, LLC,BRF S.A., Ajinomoto Co., Inc., Premium Vegetable Oils Sdn Bhd, AAK AB, Conagra Brands, Inc., Richardson International Limited. Advancements in minimal invasive surgical techniques like video-assisted thoracoscopic surgery and robotic-assisted surgery are driving the demand for lung cancer surgeries. The awareness about early lung cancer detection and availability of advanced treatment options in developed regions is also contributing to market growth. Due to rising incidence of lung cancer worldwide, the demand for lung cancer surgery is increasing steadily. As per WHO, lung cancer was the leading cause of cancer deaths in 2018 accounting for over 1.8 Mn deaths globally. Advances in diagnostic methods for early detection along with greater affordability and accessibility to surgical care in developing nations are fueling the market expansion. Major players in the lung cancer surgery market are focusing on expanding their geographic footprint in high growth markets like Asia Pacific and Latin America. Strategic collaborations with hospitals, technology upgradation and investments in robotics are some key strategies adopted by companies to strengthen their market share. Market Key Trends Advancement in robotic-assisted lung cancer surgery is a major trend in the market. Robotic platforms offer surgeons enhanced vision, precision and control over open surgery. It enables performing complex procedures like lobectomy through just few small incisions resulting in less pain, blood loss and scarring. Improved recovery time has boosted patient acceptance for robotic surgeries. Key players are further strengthening their geographic presence by launching next-gen robotic platforms and training surgeons, driving the adoption of robotics in lung cancer care. Porter’s Analysis Threat of new entrants: High capital requirements and economies of scale in the production, long approval timelines by regulatory authorities make difficult for new players to enter in the market. Bargaining power of buyers: Buyers have medium bargaining power as there are many established lung cancer surgery service providers. However, the surgery services have inelastic demand due to the critical condition of the patients. Bargaining power of suppliers: Suppliers have low bargaining power as there are many device and equipment manufacturers. Relationship between buyers and suppliers are formalized by contracts. Threat of new substitutes: Low risk of substitution as lung cancer surgery is considered as one of the major treatment option. Competitive rivalry: High as the market is dominated by a few big multinational players and regional players. Intense competition on service quality, pricing and innovation. Geographical regions: North America region accounts for the largest share in lung cancer surgery market value due to the increasing prevalence of lung cancer cases and availability of advanced treatment facilities. Asia Pacific region expected to witness the fastest growth during the forecast period owing to rising healthcare expenditure, growing awareness and improving healthcare infrastructure in emerging countries like China and India. Geographical Regions: North America region accounts largest share in lung cancer surgery market value due to increasing prevalence of lung cancer cases and availability of advanced treatment facilities. Asia Pacific region expected to witness fastest growth during forecast period owing to rising healthcare expenditure, growing awareness and improving healthcare infrastructure in emerging countries like China and India. __________________________________________________________
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