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(Medical-NewsWire.com, August 13, 2019 ) Increasing prevalence of lung cancer, rising ageing population, rising awareness about advanced treatment methods are the major driving factors for this market.
The lung cancer surgery market is projected to reach USD 29.99 billion by 2021 from USD 21.58 billion in 2016, at a CAGR of 6.8% from 2016 to 2021.
+ Technological advancements in the lung cancer treatment
+ Increasing incidence and prevalence of lung cancer
+ Rising geriatric population
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This report provides insights into the global lung cancer surgery market. It provides valuable information on the devices, procedures, and regions in the market. The geographic analysis for these segments is also presented in this report. Leading players in the market are profiled to study their device offerings and understand strategies undertaken by them to be competitive in this market.
The above-mentioned information would help the buyer understand market dynamics. In addition, the forecasts provided in the report will enable firms to understand the trends in this market and better position themselves to capitalize on the growth opportunities.
According to data from the Lung Cancer Journal, in 2005, the economic burden of lung cancer was estimated to be ~USD 46,000 for total treatment per patient. Currently, various types of surgeries for the treatment of lung cancer are available in the market. However, the high cost of surgeries is one of the major factors limiting their adoption, especially among middle-income and low-income population. According to an article published by NCBI, the cost of lung cancer radiation therapy was ~USD 10,000— USD 50,000 in 2012.
According to the Healthcare Cost and Utilization Project (HCUP), as of 2009, the hospitalization cost for lung cancer treatment was around USD 2,200 per day. Considering these high costs, in spite of the presence of a large patient pool, a limited number of patients opt for surgical interventions for the treatment of their condition. This is a major factor restraining market growth.
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Mr. Shelly Singh