The global Lung cancer surgery market is estimated to be valued at US$ 6.40 Bn or 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 the removal of cancerous tissues in the lungs through minimally invasive techniques like video-assisted thoracic surgery or through open procedures. It aims to treat early-stage lung cancers to improve survival rates. The rising incidence of lung cancer and benefits such as reduced postoperative pain and shorter hospital stay have augmented the demand of lung cancer surgery worldwide.

Market key trends:
One of the major trends in the lung cancer surgery market is the rising adoption of robotic-assisted procedures. Robotic systems offer significant improvements over traditional laparoscopic methods. They provide 10X magnification of the surgical field, full range of motion of instruments, tremor filtration and ease of use through finger-controlled instruments. Major players are focusing on developing innovative robotic platforms specifically designed for lung cancer surgery. For instance, in June 2022, Medtronic received FDA clearance for Hugo RAS, the world's first robot specifically for lung cancer surgery. It is intended to enable surgeons to perform delicate lung surgery through small incisions.

Lung cancer surgery market is witnessing rising adoption of minimally invasive techniques such as robotic and video-assisted thoracic surgery (VATS). These techniques are more precise and reduce recovery time with fewer incisions compared to traditional open procedures. Growing popularity of robotic-assisted lung resection, lobectomy and segmentectomy are helping to expand the market size. Advancements in surgical tools and navigation equipment are further enabling surgeons to perform complex procedures with improved accuracy and flexibility.

SWOT Analysis
Strengths:
- Rising prevalence of lung cancer and associated mortality makes surgery a critical treatment option
- Improving reimbursement and insurance coverage for lung cancer surgeries globally
Weaknesses:
- High costs associated with robotic surgical systems and equipment
- Long learning curve required for surgeons to master minimally invasive techniques
Opportunities:
- Growing demand in developing markets due to increasing cases of lung cancer
- Development of personalized surgical approaches through integration of AI and analytics
Threats:
- Availability of alternative non-surgical treatments such as chemotherapy and radiation therapy
- Risks of complications from procedures due to complexity of lung anatomy

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 techniques. The market size for 2023 is estimated to reach US$ 6.40 Billion.

Regional analysis:
North America dominates the lung cancer surgery market currently owing to robust healthcare infrastructure and high acceptability of advanced surgical technologies. Asia Pacific is anticipated to grow at fastest pace due to rapidly growing patient population, rising healthcare spending and increasing awareness.

Key players:
Key players operating in the lung cancer surgery market are Ethicon (Johnson & Johnson), Medtronic, Intuitive Surgical, Olympus Corporation, Karl Storz, Teleflex Incorporated, Accuray Incorporated, AngioDynamics, CONMED Corporation, Trovagene, Varian Medical Systems, Medrobotics Corporation and Siemens Healthineers. Launch of innovative product portfolio and partnerships for geographical expansion are amongst the core strategies of these companies. 

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