The tumor treating fields market comprises devices and software that use alternating electric fields to treat certain tumor types. Electric fields prevent cellular division by disrupting integration of microtubules during the final phases of mitosis. Key products include Optune from Novocure, which received FDA approval for treating glioblastoma multiforme. Optune uses transducer arrays applied to the shaved scalp that generate low-intensity, intermediate-frequency electric fields to target cancer cells. This technology offers improved survival rates and a non-invasive approach with less side effects compared to chemotherapy for glioblastoma patients.

The Global Tumor Treating Fields Market is estimated to be valued at US$ 384.54 Mn  in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the Tumor Treating Fields Market Size are Tier 1 Companies (DS Smith PLC, Crown Holdings Inc., Ardagh Group, WestRock Co., Owens-Illinois Inc., International Paper Company Inc., Amcor PLC, Delta Global, GPA Global), and Tier 2 Companies (HH Deluxe Packaging, Prestige Packaging Industries, Pendragon Presentation Packaging, Stolzle Glass Group, Keenpac, Elegant Packaging, BC Boncor, Luxpac Ltd, McLaren Packaging Ltd, and B Smith Packaging Ltd). Novocure dominates the market with its flagship Optune product and continues investment in clinical trials to expand approved indications.

The rising incidence of cancer types amenable to tumor treating fields such as glioblastoma is a key driver of demand. Statistics show new cancer cases will rise over 70% in coming decades according to the World Health Organization without intervention. In addition, greater awareness among patients and healthcare providers regarding tumor treating fields as an effective non-invasive treatment option compared to chemotherapy also fuels market growth.

The geographic scope of tumor treating fields is expanding as well. Novocure has continued efforts expanding availability of Optune to major markets in Europe, Asia Pacific, and other regions historically under-serviced for cancer care. The launch of Optune in new countries allows more patients access to this innovative technology for glioblastoma and other solid tumors.

Market drivers

The key driver fueling the tumor treating fields market is the growing cancer incidence globally. Statistics from the WHO show cancer cases are projected to rise over 70% in the next couple of decades without intervention. Specific drivers like decreasing risk factors associated with lifestyle changes are making a limited impact. Moreover, an aging global population faces elevated cancer risks. This results in rising demand for effective therapies like tumor treating fields to treat high prevalence tumor types such as glioblastoma.

The global geopolitical landscape is impacting the growth of the tumor treating fields market in various regions. Rising geopolitical tensions and conflicts have disrupted supply chains and trading relationships globally. This poses challenges for market players in expanding their business and operations across certain border regions. There is also greater economic uncertainty due to higher inflation and slowing growth in major economies. This has dampened the spending power of consumers and healthcare budgets of some countries. However, certain regions that are relatively more politically stable and have growing healthcare expenditures are likely to experience faster market growth.

North America currently dominates the tumor treating fields market in terms of value. This is because of advanced medical technologies, rise in cancer incidence rates, favorable reimbursements and greater affordability in countries like the US. However, Asia Pacific is projected to be the fastest growing regional market during the forecast period. This is attributed to improving access to healthcare, increasing awareness about cancer treatment options, rise in disposable incomes and expansion of private medical insurance in developing countries such as India and China. Europe holds significant market share as well. Favorable regulatory environment and universal healthcare coverage support the adoption of high-cost tumor treating fields therapy in the region. Latin America and Middle East & Africa offer immense growth opportunities owing to growing medical tourism and public-private investments in cancer treatment infrastructure.

The key to future growth lies in expanding access to tumor treating fields therapy in emerging economies and remote locations. Market players need to focus on obtaining regulatory approvals, forging partnerships with local hospitals and clinics, scaling up manufacturing facilities, and offering innovative pricing and financing models. Conducting more regional clinical trials will also help generate additional clinical evidence and drive reimbursement additions. With rising cancer burden worldwide, increasing investments in enabling healthcare delivery networks can unlock the market potential across new geographical territories over the coming years.

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