Global Fiducial Markers Market projected to grow at a CAGR of 4.7% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Fiducial Markers Market by Product Type (Polymer Markers, Metal-Based Markers, Liquid Markers and Carbon Makers), Cancer Type (Lung, Breast, Prostate, Abdomen, Gastric, Kidney, Cervix, Gynaecologic Organs and Others), Modality, End-User, Region and Global Forecast 2020-2027.
The global fiducial markers market is expected to grow from USD 97.67 million in 2019 to USD 141.03 million by 2027, at a CAGR of 4.7 % during the forecast period 2020-2027. North America is the dominant region in terms of market shares. The growing incidence of cancer, increasing accessibility to the healthcare facilities and the presence of efficient manufacturers are the primary reasons for the market growth. However, Asia-Pacific is expected to grow at a significant rate during the forecasted years. The region is witnessing rapid healthcare infrastructure development, increasing initiatives by the government and increasing radiotherapy procedures. These factors are contributing to the market growth significantly.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the fiducial markers market are Boston Scientific Corporation, IZI Medical Products, Naslund Medical AB, Nanovi A/S, IBA, CIVCO Radiotherapy, Carbon Medical Technologies, Eckert & Ziegler, QFIX, QlRad Inc., JJ-Medtech, Medtronic, Best Medical International Inc., Innovative Oncology Solutions and others. In 2019, Stratpharma AG and CIVCO collectively decided to provide radiotherapy solutions manufactured by CIVCO, globally.
The product type segment includes polymer markers, metal-based markers, liquid markers and carbon makers. The metal-based markers segment further includes gold markers, gold combination markers, platinum markers and others. The metal-based markers constitutes the majority of the market shares. It provides several advantages over the other products. It has radiation control property, high precision and prevention from exposure to healthy tissues. Further, the risk arising from the process is negligible. The increased demand for IGRT and rising prevalence of cancer are the primary reason contributing to the market growth. The cancer type segment includes lung, breast, prostate, abdomen, gastric, kidney, cervix, gynecologic organs and others. Out of these, prostate cancer holds majority of the market share. The growth can be attributed to increasing adoption of modern lifestyle, growing healthcare infrastructure and rising research capabilities. The modality segment includes MRI, MEG, CT, CBCT, proton therapy, tomotherapy, LINAC, radiation therapy, ultrasound and others. CBCT is the most preferred modality. It is used for detection of the position of the tumor. Thus, the growing incidence of cancer has increased the demand for CBCT. The end-users segment includes hospitals & outpatient facilities, independent radiotherapy centres, speciality clinics, ambulatory surgical centres and cancer research centres. Hospitals & outpatient facilities are the dominant segment. The pre-surgeries activities are performed in the hospitals & outpatient facilities before going for radiotherapy. Further, the segment provides better facilities than the alternatives.
Fiducial markers are widely used in the imaging systems as a point of reference. The growing awareness for radiotherapy because of the increase in prevalence of cancer has been the primary factor for the growth of the device. Further, increased investment on the R&D funding for the chronic diseases like cancer ought to uplift the demand of fiducial markers in the healthcare sector.
About the report:
The global Fiducial markers market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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