Rockville , Jan. 31, 2024 (GLOBE NEWSWIRE) -- The global hyperthermia cancer treatment market is poised to exhibit a CAGR of 6.0% during the assessment period. Total market valuation is set to increase from US$ 158.5 million in 2024 to US$ 285.1 million by 2034.
Demand remains exceptionally high for microwave hyperthermia devices owing to their ability to provide a variety of heating approaches for cancer treatment. The target segment is projected to advance at 5.9% CAGR during the assessment period, totaling US$ 113.1 million by 2034.
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The global market for hyperthermia cancer treatment is forecast to witness a strong growth trajectory during the forecast period. This is due to growing prevalence of cancer and rising need for minimally invasive cancer treatments.
Hyperthermia therapy is becoming a highly sought-after cancer treatment globally. This is due to its non-invasive nature, high effectiveness, and minimal side effects. Growing cancer cases worldwide and rising adoption of hyperthermia treatment are expected to boost market growth.
Hyperthermia has the capability to improve the effectiveness of standard cancer treatments like chemotherapy and radiation therapy. Thus, growing usage of hyperthermia in combination with conventional cancer treatments will propel demand for hyperthermia devices.
Rising awareness and acceptance of hyperthermia, especially across nations like India, Korea, and the United States, is anticipated to foster growth of the hyperthermia cancer treatment market. Similarly, increasing government support, introduction of favorable reimbursement policies, and rising interest in personalized medicine will benefit the market.
The market is also facing certain challenges that are limiting its expansion. These include high cost of hyperthermia treatments and side effects associated with hyperthermia therapy.
| Report Attribute | Details |
| Value Projection (2034) | US$ 285.1 Million |
| Growth Rate (2024-2034) | 6.0% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 64 Tables |
| No. of Figures | 192 Figures |
Key Takeaways from Market Study
- The global hyperthermia cancer treatment industry is set to total US$ 158.5 million in 2034.
- Based on device type, the microwave hyperthermia device segment will likely account for a value share of 39.7% in 2034.
- By application, breast cancer segment is expected to grow at 5.9% CAGR through 2034.
- Based on end user, hospitals segment is projected to hold a market share of 47.7% in 2034.
- The North America market value is poised to total US$ 122 million by 2034.
- Demand in East Asia is anticipated to rise at 7.2% CAGR through 2034.
- Revenue in the United States is set to total US$ 92 million by 2034.
- South Korea will likely thrive at 11.6% CAGR from 2024 to 2034.
“Increasing incidence of cancer and growing usage of hyperthermia in combination with standard cancer treatments are set to boost the hyperthermia cancer treatment industry through 2034. To gain maximum benefits, key players will look to upgrade their portfolios by introducing novel hyperthermia equipment," says a Fact.MR analyst.
Who is Winning?
Leading hyperthermia device manufacturers profiled in the report include Celsius42+ GmbH, Oncothermia, Haifu Medical Technology Co. Ltd, Pyrexar Medical Inc., Hydrosun GmbH, Andromedic Srl, and Yamamoto Vinita Co., Ltd.
Top players are constantly striving to develop advanced hyperthermia technologies that can significantly improve patient outcomes. They are also launching new research into hyperthermia treatment and establishing new facilities.
Recent Developments:
- In 2023, Oncotherm unveiled its loco-regional hyperthermia device called EHY-2030.
- In August 2022, Pyrexar BSD-2000 Deep Regional Hyperthermia System was installed in the new Tumor Hyperthermia Center in China.
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Country-wise Insights:
It is anticipated that North America will continue to lead the hyperthermia cancer therapy market, with East Asia probably offering makers of hyperthermia devices profitable development prospects. This is brought on by these areas' developing healthcare infrastructure, growing cancer incidence rates, and rising demand for cutting-edge cancer treatments.
During the evaluation period, the East Asian market for cancer treatments for hyperthermia is anticipated to grow at a robust CAGR of 7.2%. By the end of 2034, it will have a revenue share of almost 6.8%, with Korea and Japan at the forefront.
Over the course of the evaluation period, the hyperthermia cancer therapy market in North America is predicted to expand at a 5.6% CAGR. By 2034, it is anticipated to have a 42.9% global market share, with the US becoming the country that purchases the most hyperthermia systems.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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