HOME Research Insight Key Players in the Lung Cancer Surgery Market are Focusing on Partnerships, Acquisitions, and Expansions

Key Players in the Lung Cancer Surgery Market are Focusing on Partnerships, Acquisitions, and Expansions

The lung cancer surgery market is consolidated in nature due to the presence of a few large players. The prominent players in the market include Ethicon US LLC (U.S.), Intuitive Surgical Inc. (U.S.), Olympus Corporation (Japan), Accuray Inc. (U.S.), AngioDynamics Inc. (U.S.), Teleflex Inc. (U.S.), KARL STORZ GmbH (Germany), Ackermann Instrumente GmbH (Germany), Scanlan International Inc. (U.S.), and Trokamed GmbH (Germany).

Ethicon US LLC (U.S.) was the largest player in the global lung cancer surgery market, with a share of 15.2% in 2015. The company has a strong presence in the U.S. and in regions such as Europe, the Middle East, and Africa (EMEA), Asia-Pacific, Latin America, and Japan. It focuses on acquisitions as its key growth strategy. Moreover, the company offers a wide range of products in the field of endoscopy equipment like endoscopes, mechanical endoscopy instruments, and accessories. The company, with its strong product portfolio for endoscopy equipment, has established itself as one of the leading players in this market. In addition to this, the company introduced HARMONIC HD 1000i Shear product in October 2016. Moreover, the company is also focusing on acquisitions in order to strengthen its position in terms of minimally invasive intervention. These strategies significantly impacted the company's revenue and customer base.

Olympus Corporation (Japan) is the second-largest player in the global lung cancer surgery market, with a market share of 13.7% in 2015. The company offers wide range of equipment including endoscopes, visualization equipment, electrical & mechanical endoscopy equipment, and accessories. The company focuses strongly on research and development and holds over 6,700 patents in the medical business. The R&D spending is employed for the development of new products. The company is also entering into joint ventures to enhance its product capabilities and develop new products. Moreover, the company has a broad geographical reach across major regions and may consider geographic expansions into developing markets such as Africa and the Middle East.

Intuitive Surgical Inc. (U.S.) is the third-largest player in the lung cancer surgery market, with a market share of 12.7% in 2015. The company has strong distribution and services channels in the major markets such as the U.S.; the company generated 71.0% revenues from the U.S. alone. The company focuses on expanding its presence in the emerging markets such as China and Japan in order to increase its revenue as well as geographical presence. For instance, in September 2016, Intuitive Surgical collaborated with Fosun Pharma (China) to manufacture and sell lung cancer diagnostic and therapeutic tools in China. Similarly, in July 2014, the company entered into a distribution agreement with Adachi Co. Ltd. to distribute da Vinci systems in Japan.

The key strategies followed by most companies in the lung cancer surgery market are expansions, acquisitions, agreements, partnerships, and collaboration. Agreements, partnerships, and collaboration accounted for the largest share. Intuitive Surgical Inc. (U.S.), Teleflex Incorporated (U.S.), KARL STORZ GmbH (Germany), and Accuray Inc. (U.S.) adopted these strategies.

Related Reports:

Lung Cancer Surgery Market by Procedure (Thoracotomy (Lobectomy, Pneumonectomy, Segmentectomy), Minimally Invasive), Device (Surgical (Clamps, Forceps, Retractors, Stapler), Monitoring (Camera, Trocar), Endoscopic Instrument) - Global Forecast to 2021

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