Rising occurrence of cancer is one of the significant factors influencing the market growth.
The global fiducial markers market is expected to reach USD 127.3 Million by 2027, according to a new report by Reports and Data. Fiducial markers find usage in image-guided radiotherapy procedures, where the placement of the markers is by modalities such as computed tomography (CT) or ultrasound, among others, and may encompass the application of an endoscope. Fiducial markers assist in precisely locating a tumor, thereby allowing the radiologist or a team of radiologists to provide the maximum radiation dosage to the tumor while mitigating the dose radiation imparted to healthy tissue in the vicinity.
The growing prevalence of cancer is a significant factor in driving the fiducial markers market growth. Cancer has a significant impact on global society, including the US. Detection of the disease at an early stage significantly increases the chances of survival. Creating awareness to encourage early diagnosis and screening are the crucial steps responsible for early detection of the disease. Identifying likely warning symptoms of the disease and taking rapid measures is necessary for early diagnosis. Greater awareness of probable symptoms of cancer amongst physicians, nurses, and other healthcare providers, in addition to the general public, would positively impact the survival rate and hence would be instrumental in increasing the market demand. The American Cancer Society proposes that in 2020, over 1.8 million individuals are likely to be diagnosed with cancer, of which various patients would require a blood transfusion, occasionally on a daily basis.
Leading companies operating in the market and profiled in the report include:
Boston Scientific Corporation, Naslund Medical AB, Carbon Medical Technologies, Stellar Medical, CIVCO Radiotherapy, Medtronic, Innovative Oncology Solutions, IZI Medical Products, Nanovi A/S, and Eckert & Ziegler, among others.
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Further key findings from the report suggest
- By type, metal-based markers contributed to the largest fiducial markers market size in 2019. Metal-based markers such as gold fiducial markers find widespread application owing to the offering of benefits like a high contrast level and better visualization.
- By modalities, ultrasound is likely to grow at a rate of 4.7% in the forecast period for the fiducial markers market, attributed to a lower level of toxicity associated with ionizing radiation, as well as cost-effectiveness as compared to other forms of modalities.
- By cancer type, lung cancer is likely to witness a growth rate of 4.8% in the forecast period for the fiducial markers market. It may occur due to various reasons, including smoking, genetic, and exposure to toxic gases. The American Cancer Society projects over 228,000 lung cancer cases, with the occurrence of the disease being higher in men than women. It is a significant cause of death in both US men and women dying due to cancer.
- The fiducial markers market in the Asia Pacific region is expected to grow at the fastest rate of 5.5% in the forecast period. The high growth of the APAC region is owing to the growing prevalence of target conditions, growth of the pharmaceutical industry, and a surge in R&D activities the diagnostic procedures, among others.
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Dominant key players in the market are adopting various strategies like mergers and acquisition, partnerships, collaborations, joint ventures and product launches to gain a robust footing in the market. Growing demand for various medical products, increasing adoption of home-care settings, point-of-care diagnosis, high demand for vaccines and medication for controlling COVID-19 is expected to benefit the key companies throughout the forecast period.
Global Fiducial Markers Market Segmentation:
Type Outlook (Revenue, USD Million; 2017-2027)
- Metal-Based Markers
- Polymer-Based Markers
Modalities Outlook (Revenue, USD Million; 2017-2027)
- Computed Tomography/Computer-Based Computed Tomography
- Magnetic Resonance Imaging
Application Outlook (Revenue, USD Million; 2017-2027)
- Prostate cancer
- Lung Cancer
- Breast Cancer
- Gastric Cancer
End-User Outlook (Revenue, USD Million; 2017-2027)
- Radiotherapy Centers
- Academic & Research Centers
The global Fiducial Markers market is broadly divided into 5 major regions, viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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