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Hyperthermia Treatment Market for Cancer to Rise at 6.1% CAGR
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The increasing number of cancer patient worldwide is translating into higher demand for cancer therapies. Governments in various countries have launched promotional campaigns to aware people about getting the right cancer treatment. To an extent, these aforementioned factors are helping popularize various cancer therapeutics including hyperthermia treatment for cancer. Moreover, medical institutes are working in collaboration with the government for cancer research to further improve diagnosis and treatment. Clinical trials are also funded by governments to support companies in developing effective hyperthermia treatment for cancer. Persistence Market Research (PMR) in its latest report titled “Hyperthermia Treatment for Cancer Market: Global Industry Analysis and Forecast, 2017–2025” projects that global hyperthermia treatment for cancer market revenue will surge at a CAGR of 6.1% during the forecast period (2017–2025).
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Global Hyperthermia Treatment for Cancer Market – Key Highlights
By device type, the microwave hyperthermia device segment is estimated to account for 41.4% revenue share of the market by 2017-end. The segment is expected to further gain traction, owing to its ability to transmit energy from antenna to cancer cells without getting stuck in fat layers. Meanwhile, short-wave hyperthermia device segment is expected to witness the fastest CAGR of 7.0% during the forecast period.
Based on application, breast cancer and leukemia segments collectively accounted for 45% of the total market in 2016 and is expected to remain as the two dominant application segments of the market in 2017 and beyond.
By end use, the hospitals end user segment accounted for more than 42% share of the market. This is primarily owing to the growing ration of cancer patients in hospitals.
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Among regions, the market for hyperthermia treatment for cancer in North America is expected to remain dominant throughout the forecast. In 2016, the region’s market reached a valuation of US$ 39.4 Mn and anticipated to grow at a CAGR of 5.5% over the projection period. This is majorly attributed to the presence of leading medical companies and healthcare organizations in the region. Meanwhile, the market in Asia-Pacific is set to witness the fastest CAGR of 7.2%. By the 2017-end, the region is projected to account for 10.0% revenue share of the market.
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