Rising occurrence of cancer is one of the significant factors influencing Fiducial Markers market growth.
Market Size – USD 90.6 Million in 2019,
Market Growth – CAGR of 4.3%,
Market Trends – Increasing investment in cancer research
The Fiducial Markers Market is expected to be worth USD 127.3 Million by 2027. Fiducial markers find extensive usage in the procedures of image-guided radiotherapy. The placement of these markers in the modalities like ultrasound or CT (computed tomography), encompassing an endoscope’s application. Fiducial markers provide assistance in accurately locating a tumor, allowing a team of radiologists in providing the maximum dosage of radiation to the targeted tumor, while mitigating the radiation imparted to nearby healthy tissue.
Rising prevalence of cancer globally is contributing significantly to the growth of the industry. Creating awareness regarding cancer to encourage early screening and diagnosis has become crucial for detecting the disease at early stage. Greater awareness about cancer’s probable symptoms amongst nurses, physicians, other healthcare professionals, and general public would largely impact the survival rate of the cancer patients, stimulating demand for the product in the market.
Furthermore, rising inclination towards fiducial markers in the procedures of stereotactic radiosurgery has significant importance in fueling the overall market’s growth. A type of minimally invasive surgical procedure—stereotactic surgery is used in the treatment of small brain tumors and functional defects. This minimally invasive surgical procedure has been performed exclusively for the patients having abnormalities and tumors that are difficult to reach, located in the vicinity of other vital anatomic regions, and subject to move within the whole body.
Organizations are going through several challenges and suffering huge losses during the pandemic situation. Nevertheless, the pharmaceutical firms are of high importance to combat the pandemic and are seeing steadfast growth in the landscape of contagious disease. Individuals with active cancer cases and patients taking cancer therapy may develop different risks associated with COVID-19. Cancer patients have an impaired immune system based on treatment approach, type, age, and several other factors relating to the health, creating a surge in the demand for distinct fiducial markers.
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Further key findings from the report suggest
- Based on type, metal-based markers contributed largely in the industry in 2019. Metal-based markers like gold fiducial markers find extensive applications, owing to their benefits like better visualization and a high level of contrast.
- On the basis of modalities, ultrasound segment is expected to grow at 4.7% of a rate in the estimated period, attributed to a reduced toxicity level of ionizing radiation, and cost-effectiveness as compared to other types of modalities.
- In terms of cancer type, lung cancer is foreseen to record a CAGR of 4.8% during the estimated period. This cancer may occur due to several reasons, including genetic, smoking, and exposure to various toxic gases. According to the American Cancer Society the occurrence of lung cancer is being higher among men than women.
- The Asia Pacific region has been projected to grow at a 5.5% CAGR in the projected time frame. The APAC region’s high growth is attributed to the growing cases of target conditions, robust growth in the pharmaceutical industry, and a huge surge in the activities of R&D in several diagnostic procedures, among others.
- Renowned players include Naslund Medical AB, Carbon Medical Technologies, Boston Scientific Corporation, CIVCO Radiotherapy, Medtronic, Stellar Medical, Innovative Oncology Solutions, IZI Medical Products, Eckert & Ziegler, and Nanovi A/S.
- In December 2019, a renowned market player—IZI Medical Products, LLC, made an announcement regarding the RadioMed acquisition, the producer of VISICOIL™—an implantable fiducial marker.
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For the purpose of this report, Reports And Data has segmented the global fiducial markers market on the basis of type, modalities, application, end-user, and region:
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
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- Rest of the Middle East and Africa
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Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Fiducial Markers Segmentation & Impact Analysis
4.1. Fiducial Markers Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
18.104.22.168. Rising occurrence of cancer
22.214.171.124. Increasing investment in cancer research
126.96.36.199. Technological advancements
4.2.3. Market restraints analysis
188.8.131.52. Cost prohibitive markers
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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