Tumor Treating Fields Market is Expected to be Flourished by Rapid Adoption of new TT Fields Devices

Tumor Treating Fields or TTFields are electric fields that disrupt cell division and slow or stop the growth of cancer cells with minimal effect on normal cells. The primary usage of TTFields is in the treatment of recurrent glioblastoma and non-small cell lung cancer. These fields are delivered through transducer arrays placed on the skin of the patient. TTFields are administered in non-invasive manner once arrays are attached and provide localized therapeutic benefit to the tumor region without harmful side effects. The usage of TTFields is gaining acceptance as an effective adjuvant therapy in combination with chemotherapy for several types of solid tumors.

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 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Rapid adoption of new TTFields devices and ease of use of these devices is driving the growth of tumor treating fields market. The introduction of optimized transducer arrays by leading companies has increased accessibility of TTFields therapy to cancer patients. For instance, in 2021, Novocure launched Optune Lua, a self-adhesive transducer arrays meant for patients with mesothelioma or brain metastases from non-small cell lung cancer. The optimization has simplified device use and reduced treatment disruptions. Further, increasing clinical evidence validating effectiveness of TTFields as adjuvant therapy for various solid tumors is acting as a major factor fueling the demand. Multiple clinical trials are underway to evaluate potential of TTFields in treatment of pancreatic cancer, lung cancer and other cancers. This is expected to broaden applications and propel the market growth over forecast period.

Segment Analysis
The tumor treating fields market can be segmented into glioblastoma, brain metastases, and others. The glioblastoma segment dominates the market and accounts for more than 35% share owing to the high prevalence of glioblastoma. Glioblastoma is the most aggressive and common type of primary brain tumor in adults.

PEST Analysis
Political: There are various government initiatives and fundings for research related to cancer globally which positively impacts the market growth. However, stringent regulatory policies can hamper the market.
Economic: Rising healthcare expenditure and growing awareness regarding advanced treatment options bolster the market growth. However, high cost of therapies limits the market to some extent.
Social: Increasing incidence of cancer worldwide due to changing lifestyle and growing geriatric population augments the demand for tumor treating fields therapy.
Technological: Ongoing research and development for advanced tumor treating fields devices and software have improved the efficacy and safety of treatments which fuels the market growth.

Key Takeaways
The Global Tumor Treating Fields Market Share is expected to witness high growth. 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 4.8% over the forecast period 2023 to 2030.

Regional analysis comprises North America dominates the market and holds around 40% share owing to presence of major players in the region and favorable reimbursement policies. Europe accounts for the second largest share in the market.

Key players operating in the tumor treating fields market are Tier 1 Company, Company 2, Company 3. Key players are focusing on new product launches, collaborations and acquisitions to strengthen their market position.
Novocure launched its proprietary Optune system which delivers tumor treating fields to the region of the brain tumor.

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