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Hyperthermia Cancer Treatment Market is Expected to Witness Healthy Growth at 6% CAGR through 2031
Hyperthermia Cancer Treatment Market
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According to the study, the market is anticipated to accrue impressive gains, expanding at a CAGR of around 6% to surpass a valuation of US$ 250 million by 2031. Rising cancer prevalence is attributed as the chief growth driver for this market.
The International Agency for Research on Cancer (IARC) estimates that, globally, 1 in 5 people develop cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease, respectively. These new estimates suggest that more than 50 million people are living within five years of a past cancer diagnosis.
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Also, according to the World Health Organization, breast cancer is the most commonly occurring cancer in women and the second-most common cancer overall. Over 2 million new cases of breast cancer were diagnosed across the world in 2018.
Hence, the scope for incorporating sophisticated treatments is increasing, paving way for enhanced adoption of hyperthermia cancer treatment.
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Furthermore, various governmental initiatives to fund extensive cancer research programs are proving to be a boon for market growth. For instance, in April 2016, the U.S. Government allotted US$ 5.2 billion to the National Cancer Institute (NCI) for cancer research and training. This has enabled the U.S. healthcare system to deploy a host of advanced cancer treatment and diagnosis solutions.
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Key Take aways from Market Study
Microwave hyperthermia cancer treatment devices to account for over 40% revenue share through 2031
By application, treatment for breast cancer to remain key revenue generator
Prospects for deep tissue ®ional perfusion appear highly promising, expected to post significant gains
By enduser, hospitals to yield over two-fifth of the global revenue share through 2031
High cancer incidence and prevalence rates to stimulate demand across the U.S.
The U.K. to stimulate high demand amid growing preference for minimally invasive cancer treatment
Rapid advancements in medical technology to bolster uptake across France and Germany
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“Rising demand for improving clinical outcomes and inflicting minimal patient discomfort is prompting healthcare providers to deploy a broad range of advanced surgical and therapeutic options, including high intensity focused ultrasound (HIFU), widening the growth prospects of market players,” says a Fact.MR analyst.
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Competitive Landscape
Fact.MR’s has profiled the following hyperthermia cancer treatment solution providers in its research report: PYREXAR Medical, Celsius42 GmbH, Hydrosun GmbH, Oncotherm Kft., Andromedic S.r.l., Yamamoto Vinita Co. Ltd, Chongqing Haifu Medical Technology Co. Ltd., innoMedicus Ltd., Gamida-Cell Ltd., and RanD. Some key expansion strategies deployed by the afore mentioned players include strengthening distribution networks and introducing new approaches to treat and diagnose potential cancers.
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