Alternating Electric Field Tumor Treatment Market to Exhibit Impressive Growth During 2018 - 2028

Alternating electric field tumor therapy is an anticancer treatment which disrupts the tumor cells mitosis. Alternating electric field therapy is a low intensity technique which disrupts the division of cells through physical interaction of molecules during mitosis in tumor cancer. Food and drug administration approved indication for the treatment of recurrence of glioblastoma. Portable devices used to treat glioblastomas, which generates electric field, are known as Optune. People diagnosed with glioblastoma use alternating electric field therapy after the surgery and radiation therapy. Alternating electric field therapy is used along with chemotherapy. This therapy generally has milder side effects than chemotherapy. In alternating electric field therapy, four electrodes are placed on the scalp, which are attached to the battery. These electrodes generate electric current which affects the tumor cells. Alternating electric field therapy with intermediate frequency alternating electric field is delivered through noninvasive transducer arrays, which are placed loco regionally around the anatomic region of the tumor. Alternating electric field tumor treatment is given to patients over 22 years of age. According to the American Association of Neurological Surgeons, in 2015, there were approximately166,039 people with brain and other nervous system cancers in the United States.

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Alternating Electric Field Tumor Treatment: Market Dynamics

The alternating electric field tumor treatment market is being majorly driven by increasing prevalence of cancer, increasing demand for target drug therapy and rising awareness about biosimilars. Increasing awareness regarding the cure and treatment of cancer and strong research and development initiatives by key players will drive the alternating electric field tumor treatment market during the forecast period. Rising costs of therapies along with stringent regulations by the governments for cancer treatment globally will hinder the growth of alternating electric field tumor treatment market.

Alternating Electric Field Tumor Treatment: Segmentation

The global alternating electric field tumor therapy market is segmented by drug type and distribution channel:

Segmentation by End User
Hospital
Specialty Clinics
Cancer and Radiation Therapy Centers
Others
Alternating Electric Field Tumor Treatment: Overview

Rise in demand of alternating electric field tumor treatment owing to increasing prevalence of cancer and research and development in the biosimilars and launch of new products. Increasing investment by government and rising venture capital in the field of oncology especially neurology cancer spur the alternating electric field tumor treatment market growth during the forecast period. In addition, increasing healthcare spending and growing contract research organization facilities in emerging economies helps to expand the alternating electric field tumor treatment during forecast period.

Alternating Electric Field Tumor Treatment: Region-wise Outlook

On the basis of geography, global alternating electric field tumor treatment market is segmented into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa. North America is projected to hold largest shares in the global alternating electric field tumor treatment market primarily due to growing incidence and prevalence of cancer and launch and growing adoption of novel cancer therapy. Rising investment in research and development and initiative by government & increasing disposable income drive the market of alternating electric field tumor treatment market. Europe is anticipated to be the second in the revenues share. Asia Pacific region is anticipated to be the fastest growing region in alternating electric field tumor treatment market owing to increase in investment in the research and development in the drug development and government initiative towards the improvement of healthcare infrastructure. Latin America and Middle East & Africa is expected to show slow growth due to lack of awareness among the population and high cost of treatment of alternating electric field tumor treatment market.

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Alternating Electric Field Tumor Treatment: Key Players

Some of the key players present in global alternating electric field tumor treatment market are Novocure.

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