The Global Tumor Treating Fields Market Is Estimated To Be Valued At US$333.8 Million In 2023 And Is Expected To Exhibit A CAGR Of 15.5%

Market Overview:
Tumor Treating Fields is an anti-mitotic therapy that uses alternating electric fields to disrupt cell division. The electric fields impair mitotic spindle formation and chromosomal segregation, resulting in cancer cell death. Tumor Treating Fields therapy is a non-invasive, antimitotic treatment delivered via transducer arrays placed on the shaved scalp of brain cancer patients.

Market key trends:
The rising prevalence of various types of brain cancer such as glioblastoma multiforme, meningioma, astrocytoma, ependymoma and others are driving the adoption of advanced treatments like Tumor Treating Fields. According to estimates, more than 13,000 new cases of glioblastoma multiforme are diagnosed in the United States each year. Furthermore, the approval of Tumor Treating Fields by regulatory authorities for recurrent and newly diagnosed glioblastoma indication is fueling revenue growth of the tumor treating fields market.
Segment Analysis

The global Tumor Treating Fields Market is segmented by treatment type into device accessories and services. The device segment is expected to dominate the market during the forecast period. Tumor treating fields systems are newly developed medical devices used for tumor treating fields therapy. Increasing adoption of tumor treating fields system for the treatment of brain cancer is driving the device segment.

Key Takeaways

The global tumor treating fields market size is expected to reach US$ 333.8 Million In 2023, expanding at a CAGR of 15.5% during the forecast period of 2023-2030. Rising incidence of brain cancer and new product approvals are fueling the market growth.

Regionally, North America dominated the tumor treating fields market in 2022. Increasing awareness regarding TTF therapy and presence of advanced healthcare facilities are driving the market in the region. Asia Pacific is anticipated to emerge as the fastest growing regional market by 2030. Improving healthcare infrastructure and rising medical tourism in countries like China, India, and South Korea are expected to boost the Asia Pacific tumor treating fields market.

Key players operating in the tumor treating fields market include Novocure, Magstim, Brainsway, Boston Scientific Corporation, OTTO Bock, Wandong Medical, Yiruide Medical Equipment, MagVenture, Biomobie, and Cerbomed. Novocure holds the leading market share as it offers Optune, the only approved medical device for TTF therapy. However, local players like Wandong Medical and Biomobie are gaining traction in China and other Asian countries.

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