Global hyperthermia treatment for cancer market revenue is projected to register a CAGR of 6.1% during the forecast period (2017–2025). The global hyperthermia treatment for cancer market is estimated to be valued at US$ 99 Mn in the year 2017 and is slated to reach a market value close to US$ 160 Mn in the year 2025. In terms of revenue, the microwave hyperthermia device segment was the dominant product type segment in the global hyperthermia treatment for cancer market in 2016. The segment is expected to further gain traction during the forecast period owing to its ability to transmit energy from antenna to cancer cells without getting stuck in fat layers.
Increasing incidence of cancer likely to fuel the global hyperthermia treatment for cancer market
The spread of cancer is on a constant rise all over the world. As per the projections of the World Health Organization, the number of deaths from cancer all over the world will reach around 13.1 million by the year 2030. The data from WHO also suggests that global cancer prevalence will increase approximately 75% during 2008 – 2030. This rapidly growing incidence of cancer all over the world will lead to an increased number of patients opting for cancer therapies. This in turn is likely to boost the number of patients undergoing hyperthermia treatment thereby driving the growth of this market.
Growing awareness of the therapeutic effect of hyperthermia will aid the growth of this market
There is a growing awareness regarding the therapeutic effect of hyperthermia on various types of malignant diseases and this in turn is likely to increase the revenue growth of the global hyperthermia devices market. The increasing number of experts in the field of hyperthermia are creating awareness among patients regarding the use of hyperthermia to destroy tumor cells and to increase drug absorption in the target cells by using hyperthermia treatment in combination with chemotherapy. Various clinical trials with hyperthermia in combination with radiation therapy have proved the ability of hyperthermia treatment to increase the human tumor temperature, and it is proved that a combination of hyperthermia and radiation therapy is superior and more effective than standalone radiation therapy alone. The advantage provided by hyperthermia treatment is expected to fuel the global hyperthermia treatment for cancer market.
High cost of hyperthermia treatment expected to impede market revenue growth
High cost of hyperthermia treatment procedure as compared to other cancer procedures is a main factor hampering the growth of the hyperthermia treatment for cancer market. The average charge for hyperthermia treatment in the United States is around US$ 50,000 for each cancer type. In a majority of cases, hyperthermia treatment is taken as combination therapy along with radiation or chemotherapy, making it more expensive for patients to afford such kind of treatment.
Global Hyperthermia Treatment for Cancer Market Analysis and Forecast, By Device Type
Microwave Hyperthermia Device segment is estimated to account for over 40% revenue share of the global hyperthermia treatment for cancer market by 2017 end and is expected to lose 99 basis points in its market share by 2025 over 2017. Ultrasound Hyperthermia Device segment is estimated to account for close to 25% revenue share of the global hyperthermia treatment for cancer market by 2017 end and is expected to gain 139 basis points in its market share by 2025 over 2017. Among the device types, the Short-wave Hyperthermia Device segment is projected to register the highest CAGR of 7.0% in terms of value in the global hyperthermia treatment for cancer market during the forecast period.
Largely untapped regions in developing economies are lucrative markets for hyperthermia treatment
Countries like China and India have a huge population and high incidence of cancer cases. However, the number of facilities and experienced practitioners available in these countries to provide effective treatment for cancer are relatively low. On the other hand, growing incidence of cancer in China and India is expected to offer lucrative growth opportunities for hyperthermia device manufacturers. The number of hospitals, cancer centers and clinics that provide cancer treatment is gradually increasing in these countries, which translates into an opportunity for hyperthermia device manufacturers to introduce less complicated, cost-effective and easily available products specifically developed for emerging economies.
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