July 20, 2024
Hyperthermia Cancer Treatment Market

The Rise Of Minimally Invasive Hyperthermia Treatment Methods Are Anticipated To Openup The New Avanue For Hyperthermia Cancer Treatment Market

The Hyperthermia Cancer Treatment Market is estimated to be valued at US$ 187.05 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Hyperthermia cancer treatment involves the use of heat to elevate the temperature of tumors as a method of treatment. Heat is used to damage and kill cancer cells or sensitize them to radiation therapy and chemotherapy. Hyperthermia treatment is generally used along with chemotherapy, radiation therapy, or both for treating cancers such as brain tumors, breast cancer, melanoma, lung cancer, and gastric cancer. There are two types of hyperthermia treatment – local hyperthermia and regional hyperthermia. Local hyperthermia specifically heats targeted tumor tissues using interstitial, external, or regional heating. Regional hyperthermia heats a limb or organ to treat cancer that has spread to that part of the body.

Market Dynamics:

The rising prevalence of cancer worldwide is projected to drive the growth of the hyperthermia cancer treatment market over the forecast period. According to the World Health Organization (WHO), cancer accounted for nearly 10 million deaths globally in 2020. Furthermore, key players are extensively focusing on developing minimally invasive hyperthermia cancer treatment devices which is expected to boost the market growth during the forecast period. For instance, in February 2022, MagForce AG received CE mark approval for its NanoTherm therapy system for intermediate risk prostate cancer treatment in Europe. This allowed the company to commercialize its system in selected European countries. However, the high costs associated with hyperthermia treatment devices and procedures are expected to hinder the market growth.

Segment Analysis

Hyperthermia Cancer Treatment Market is dominantly segmented into Radiofrequency Hyperthermia, Ultrasound Hyperthermia, Microwave Hyperthermia, and Infrared Hyperthermia. Among these, Radiofrequency Hyperthermia segment holds the major market share owing to its higher effectiveness in delivering heat deep inside the body tumors through electromagnetic waves.

PEST Analysis

Political: Regulations related to safety and efficacy of hyperthermia devices are getting stronger. This pushes manufacturers to invest more in R&D.

Economic: Growing healthcare expenditures and disposable incomes in developing nations are fueling the demand for cost-effective hyperthermia cancer treatments.

Social: Rising cancer prevalence coupled with increasing public awareness about non-invasive treatment options is driving the adoption of hyperthermia procedures.

Technological: Advancements in precision therapies using nanotechnology help generate localized heat deep inside tumors with minimal effect on surrounding healthy tissues, thereby improving treatment outcomes.

Key Takeaways

The Global Hyperthermia Cancer Treatment Market Size is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period 2023 to 2030, due to increasing prevalence of cancer worldwide.

The market size for hyperthermia cancer treatment was valued at US$ 187.05 Bn in 2023. North America is expected to dominate the market during the forecast period owing to rising healthcare expenditure and availability of advanced hyperthermia devices in the region.

Key players operating in the Hyperthermia Cancer Treatment market are MagForce AG, Andromedic, Xianke Medical Equipment, OncoTherm, Celsius42+, Oncotherm, Pyrexar Medical, Yamamoto Vinita, Nanoprobes, Alba Hyperthermia System, Nova Company, Perseon, Omron, Sunny Medical Equipment, OrienTech, BSD Medical, Sensius, Celsius42, Nanjing Greathope, Shanghai Huayuan. These players are focusing on new product launches and regulatory approvals to strengthen their market presence.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it