Hyperthermia cancer treatment employs the use of heat to destroy or weaken cancer cells. It works by exposing the body or a specific body area to high temperatures usually between 41-45°C. This heat damages and kills cancer cells or makes them more sensitive to radiation therapy and chemotherapy. Hyperthermia offers advantages over other traditional treatment methods as it is non-invasive and there is minimal damage to healthy tissues. It allows for localized treatment of cancers that are difficult to treat with conventional therapies. Moreover, it can be combined with chemotherapy or radiation therapy for increased treatment effectiveness.
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 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the hyperthermia cancer treatment market is the increasing adoption of magnetic hyperthermia using magnetic nanoparticles. In this technique, magnetic nanoparticles such as iron oxide are injected or placed in the tumor region and exposed to an alternating magnetic field (AMF) which produces heat through hysteresis losses and Néel relaxation mechanism. This localized heating results in tumor destruction while protecting surrounding healthy tissues. Magnetic hyperthermia offers significant advantages of deeper penetration of heat, accurate temperature control, and higher heating efficacy. Various clinical trials evaluating the therapeutic efficacy of magnetic hyperthermia in cancers such as glioblastoma and prostate cancer are currently underway globally. This is expected to boost the adoption of this non-invasive technique in the coming years.
Threat of new entrants: Low barriers to entry makes it easy for new players to enter the market. However, well established players have strong brand recognition and distribution networks.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many alternatives available for cancer treatment.
Bargaining power of suppliers: Supply side is highly fragmented with many component and technology suppliers. This limits individual supplier bargaining power.
Threat of new substitutes: Alternatives like chemotherapy, radiation therapy pose threat of substitution. However, hyperthermia offers localized treatment with fewer side effects.
Competitive rivalry: Intense competition exists between established players. Product differentiation and innovative solutions help companies gain competitive edge.
The Global Hyperthermia Cancer Treatment Market Growth is expected to witness high growth. The market in North America region is expected to dominate during the forecast period owing to increasing incidence of cancer and rising awareness regarding hyperthermia treatment.
Regional analysis: North America is expected to hold the major share in the global Hyperthermia Cancer Treatment market owing to rising prevalence of cancer, growing geriatric population, and availability of advanced healthcare infrastructure. Asia Pacific is projected to grow at the fastest rate during the forecast period driven by increasing healthcare spending, large patient pool, and growing awareness regarding hyperthermia therapy.
Key players: 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. MagForce AG offers NanoTherm therapy system used for focal hyperthermia treatment. Andromedic provides Oncotherm microwave hyperthermia systems.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it