Hyperthermia is a type of cancer treatment that uses heat to damage and kill cancer cells. It employs the use of devices called Thermoregulatory Therapy Systems that can heat specific regions of the body using electromagnetic radiation like radio waves, microwaves, or infrared light. By heating tumors to doses of 41-43°C (105.8-109.4°F), hyperthermia therapy makes cancer cells more sensitive to radiation therapy and chemotherapy. The therapy causes damage to cellular proteins and structures within cancer cells making them more vulnerable to cell death.
The global Hyperthermia Cancer Treatment Market is estimated to be valued at US$ 187.05 billion in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The use of nanoparticle-mediated hyperthermia is gaining traction in the market. Nanoparticles composed of gold or iron oxide are injected into tumors and when exposed to an alternating electromagnetic field, generate heat through dipolar rotation and Néel relaxation. This localized heating allows delivery of therapeutically relevant temperatures directly to the tumor region. Ongoing research in nanoparticle design is enabling more precise heating and improved biocompatibility, which is expected to boost the adoption of this technique for cancer treatment using hyperthermia in the coming years.
Threat of new entrants: Low as significant investment is required in R&D and clinical trials in order to enter this market. Also established brands have strong brand loyalty.
Bargaining power of buyers: Moderate as buyers have various treatment options to choose from. However hyperthermia cancer treatment is emerging as an effective option.
Bargaining power of suppliers: Moderate as key players have considerable resources and supply networks. Suppliers also have the threat of forward integration by key players.
Threat of new substitutes: Low as hyperthermia has few substitutes currently and it is proving effective in combination with other therapies.
Competitive rivalry: High due to strong presence of global and local players. Intense competition on basis of technological advancements, product innovation, quality and pricing.
The Global Hyperthermia Cancer Treatment Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global Hyperthermia Cancer Treatment Market is estimated to be valued at US$ 187.05 billion in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030.
North America is currently the largest regional market for hyperthermia cancer treatment given strong healthcare infrastructure and increasing adoption of advanced therapies. Europe is anticipated to witness significant growth in the market propelled by rising awareness about benefits of hyperthermia, initiatives by governments and funding for cancer research. The Asia Pacific region provides substantial opportunities attributed to growing healthcare expenditure, large patient population and increasing penetration of major market players in the region
Key players operating in the hyperthermia cancer treatment market include Allergan plc., 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. Key players are mainly focused on new product launches, strategic collaborations and regional expansion to strengthen their market presence.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it