Hyperthermia, a type of cancer treatment that uses heat to damage and kill cancer cells, has been utilized as a form of cancer therapy for decades. Over the years, advancements in therapeutic techniques and technological innovations have improved the effectiveness and safety of hyperthermia treatment. For instance, magnetic resonance guided focused ultrasound (MRgFUS) allows for non-invasive and localized deep tissue heating, thereby enabling targeted treatment of cancer tumors without damaging surrounding healthy tissues. Furthermore, advanced hyperthermia systems make use of advanced algorithms and feedback control mechanisms to achieve precise heating and monitoring of temperature levels during the treatment process.
The global hyperthermia cancer treatment market is estimated to be valued at US$ 187.05 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers propelling growth of the hyperthermia cancer treatment market is continued technological advancements in cancer therapy techniques. Development of advanced non-invasive thermotherapy techniques like magnetic resonance guided focused ultrasound (MRgFUS) and microwave hyperthermia have reduced procedural complexity and risks associated with hyperthermia treatment. Not only do such innovations enable targeted and localized heating of cancer tumors with precision, but they also eliminate the need for invasive surgery. This has increased acceptance of hyperthermia among cancer patients and driven its adoption. Furthermore, ongoing research efforts to develop next-generation integrated thermotherapy systems with real-time temperature monitoring and enhanced algorithms for optimized heating are expected to improve treatment efficacy. This will expand hyperthermia applications to newer cancer indications over the forecast period.
Segment Analysis
The hyperthermia cancer treatment market can be segmented into Regional and Localized hyperthermia based on type. Localized hyperthermia is dominating the type segment of hyperthermia cancer treatment market accounting for over 65% share globally. This is due to the fact that localized hyperthermia is highly effective and precise method for treating cancer localized to a specific body part like breast, lung, liver etc. without affecting other healthy tissues.
PEST Analysis
Political: The governments across all regions are supporting cancer research and providing funding to introduce innovative cancer treatment options like hyperthermia. Many countries have formulated national cancer control programs to improve accessibility and affordability of advanced cancer care.
Economic: Rising healthcare expenditure coupled with growing incidence of cancer is driving the demand for cost-effective treatment alternatives like hyperthermia. The average cost of hyperthermia equipment and its maintenance is lower than many other cancer therapies providing a economic advantage.
Social: Increasing awareness about various cancer treatment options through patient support groups and health advocacy campaigns is positively impacting the adoption of hyperthermia cancer treatment. People are willing to try complementary approaches like hyperthermia for better outcomes.
Technological: Continuous technological advancements in hyperthermia equipment like localized and regional hyperthermia equipment, MRI-guided hyperthermia systems etc. are enabling more precise temperature monitoring and homogeneous heat distribution within the target area. Newer technologies are also making hyperthermia treatments simpler to administer.
Key Takeaways
The Global Hyperthermia Cancer Treatment Market Growth is estimated to be valued at US$ 187.05 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period of 2023 to 2030.
Regional analysis indicates that North America region currently dominates the global market accounting for over 40% share driven by rising prevalence of cancer, advanced healthcare infrastructure and presence of key market players in the region. However, Asia Pacific region is expected to emerge as the fastest growing regional market for hyperthermia cancer treatment owing to growing awareness, improving access to modern therapies and expanding healthcare expenditure.
Key players operating in the hyperthermia cancer treatment market are Allergan plc. (A subsidiary of AbbVie Inc.),Novo Nordisk A/S, Boehringer Ingelheim International GmbH, Merck KGaA, GSK plc., AstraZeneca., Baxter, Novartis AG, F. Hoffmann-La Roche Limited, Shire (A subsidiary of Takeda Pharmaceutical Company Limited) and Sanofi. These key players are focusing on new product development and strategic collaborations to strengthen their market position. For instance, in 2022 AbbVie Inc. partnered with Boston Scientific Corporation to develop and commercialize radiofrequency-based catheter ablation technologies for cancer treatment including use along with hyperthermia.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
