The global Tumor Treating Fields Market is estimated to be valued at US$ 333.8 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Tumor treating fields are alternating electric fields designed to disrupt cell division. These fields interfere with mitosis and cytokinesis during mitosis, resulting in non-viable tumor cells or cell death. Tumor treating fields target rapidly dividing cells, such as cancer cells.
Market key trends:
One of the key trends in the tumor treating fields market is the increasing adoption of optic fibers based tumor treating fields devices. Optic fiber technology delivers TTFields therapy via non-invasive transducer arrays placed on the patient’s skin. Optic fibers provide advantages such improved patient comfort and mobility compared to older transducer arrays. Fiber-optic transducer arrays are lighter in weight, more flexible, and have a low-profile design. Optic fiber based tumor treating fields devices offer a personalized treatment and enhanced quality of life for cancer patients.
Segment Analysis
The global tumor treating fields market is segmented into device type and application. Based on device type, the tumor treating fields market is segmented into portable type and table-top devices. The portable type segment dominated the market in 2021 owing to better portability allowing ease of movement for the patient and convenience of using it anywhere. By application, the market is categorized into brain tumor, breast cancer, ovarian cancer, and others. The brain tumor application segment led the market in 2021 as tumor treating fields therapy is widely used for treatment of glioblastoma and shows good results and patient survival rates.
Key Takeaways
Global Tumor Treating Fields Market Size is expected to witness high growth, exhibiting a CAGR of 15% over the forecast period, due to increasing adoption of tumor treating fields therapy as an alternative to chemotherapy for treating several types of cancers. Regionally, North America dominated the market in 2021 owing to increasing number of patients undergoing tumor treating fields therapy for treatment of cancers such as brain cancer, breast cancer and availability of specialty care centers offering this therapy in the region. Europe is expected to be the fastest growing market during the forecast period.
The global tumor treating fields market size was estimated at US$ 333.8 Mn in 2023 and is expected to reach over US$ 915.4 Mn by 2030. Key players operating in the tumor treating fields market are Novocure, Magstim, Brainsway, Boston Scientific Corporation, OTTO Bock, Wandong Medical, Yiruide Medical Equipment, MagVenture, Biomobie, Cerbomed. Novocure dominated the market in 2021 owing to its flagship Optune portable tumor treating fields device approved for treatment of various cancer types.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it