July 15, 2024
Hyperthermia Cancer Treatment Market

The Hyperthermia Cancer Treatment Market Poised For High Growth Due To Increasing Incidences Of Cancer And Growing Preference For Non-Invasive Treatment Methods

Market Overview:

Hyperthermia is a type of cancer treatment that uses heat to damage and kill cancer cells or to make chemotherapy and radiotherapy more effective. It is a non-invasive cancer treatment option that involves raising the temperature of targeted diseased tissue to higher than normal levels, typically in the range of 40-46°C using techniques such as microwave, radiofrequency, inductive heating, ultrasound or infrared irradiation. This small temperature rise makes cancer cells more vulnerable to heat while protecting normal tissues.

Market Dynamics:

The global hyperthermia cancer treatment market is expected to witness significant growth over the forecast period owing to the increasing incidences of cancer worldwide and growing preference for minimally invasive or non-invasive treatment methods. According to World Health Organization (WHO), cancer is the second leading cause of death globally, with approximately 10 million deaths recorded in 2020. Rising cancer burden is generating demand for advanced treatment solutions, thus driving market growth. Further, hyperthermia when combined with chemotherapy or radiotherapy enhances treatment efficiency and improves patient outcomes, which is encouraging greater adoption among oncologists. Additionally, ongoing initiatives to spread awareness about the advantages of hyperthermia over invasive therapies will further support market expansion between 2023 and 2030. However, high costs associated with advanced hyperthermia devices and lack of skilled healthcare professionals with expertise in this niche field pose challenges for market growth.

The global Hyperthermia Cancer Treatment Market Demand is estimated to be valued at US$ 187.05 Billion 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.

Segment Analysis

The global Hyperthermia Cancer Treatment market is segmented based on type and application. By type, the market is divided into Microwave Hyperthermia Device, Ultrasound Therapy Device and Infrared Therapy Device. Among these, the Infrared Therapy Device segment dominates the market and is expected to maintain its dominance over the forecast period. Infrared therapy devices are safer, portable and easy to use for localized treatment of superficial tumors.

PEST Analysis

Political: Regulations related to the usage of medical devices may impact the Hyperthermia Cancer Treatment market growth. However, supportive government initiatives to promote cancer awareness and treatment are expected to drive the market.

Economic: Rising healthcare expenditure and growing affordability of cancer treatment are the key factors augmenting the economic growth of this market.

Social: The increasing prevalence of cancer cases worldwide and growing preference for non-invasive treatment options are fueling the demand for Hyperthermia Cancer Treatment.

Technological: Advancements in hyperthermia devices with better safety and efficiency are expected to boost the adoption. Ongoing R&D for the development of innovative ablation and thermotherapy techniques will support market growth.

Key Takeaways

The global Hyperthermia Cancer Treatment market is expected to witness high growth, exhibiting a CAGR of 6.1% over the forecast period, due to increasing incidence of cancer worldwide. Regionally, North America dominates the global market and is estimated to maintain its dominance in the coming years owing to growing healthcare expenditure, and presence of advanced medical facilities in the region. The Asia Pacific region is projected to be the fastest growing market during the analysis period due to increasing medical tourism, rising disposable income, expanding healthcare infrastructure.

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 Greathoke, and Shanghai Huayuan. MagForce AG has a strong focus on technological advancements and occupies a significant market share.

*Note:

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