Will Japan’s Liquid-Based Fiducial Markers Market Exhibit Hegemony : Check Fact.MR’s Latest Study
Fiducial markers sales are anticipated to surpass 100 Mn by 2019, registering an upswing from 93.9 Mn in 2018, according to a Fact.MR study. As fiducial markers gain traction in parallel to rising incidences of various cancer forms affecting lung, prostate, abdomen and kidney, the growth potential of the market is set to witness a considerable rise. The escalating demand for fiducial markers can be accredited to,
- Growing adoption of radiotherapy devices by oncologists
- Surging demand for IGRT and SBRT procedures
- Versatility of fiducial markers in effective diagnosis
- Increasing rates of cancer across the globe
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“Cancer survivors are increasingly opting for radio therapy procedures, either for primary management or for symptom control. This rise in embracement of radiotherapy as an effective methodology for diagnosis and management of cancer is substantially spurring sales of fiducial markers”, Senior Analyst, Fact.MR
With the adoption of fiducial markers as a standard tool for image-guided radiotherapy, manufacturers are coming across huge demand. According to a report titled “Radiotherapy in Global Cancer Control” published by the Cancer Control Organization, availability of radiotherapy equipment varied from 8.6 machines per million people in high-income countries (as per the World Bank definition) to 1.6 per million in high-middle income, 0.71 in low-middle income countries, and 0.21 per million in low-income countries. This data reveals the growth scope for fiducial markers over the coming years.
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Key Takeaways from Fiducial Markers Market Study
- Germany remains the leading country in the world’s largest market for fiducial – Europe
- The United States will remain the epicenter of the world’s largest fiducial markers market – North America – with a share of more than 85% in the region.
- China, Japan, Indonesia, and others to remain highly sought-after markets for suppliers.
- High demand for pure gold fiducial markers to fuel sales.
- Growing requirement of photon therapy to propel growth of fiducial manufacturers.
- In terms of disease site, prostate cancer to emerge as a dominant segment.
- Radiotherapy centers to lead market demand in terms of end user.
Segmentation by Category
- Polymer Based Markers
- Metal Based Markers
- Pure Gold Markers
- Liquid Based Markers
- Photon Therapy
- Proton Therapy
- Head & Neck
- Cervix or Other Gynaecologic Organs
- Cancer Research Institutes
- Radiotherapy Centers
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
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Rise in Cases of Cancer Fuelling Sales of Fiducial Markers
As fiducial markers are an integral part of radiation therapy for cancer patients, rise in cases of cancer is fuelling sales. As per a report published by The International Agency for Research on Cancer (IARC) in December 2020, globally, 1 in 5 people develop cancer during their lifetime, while the fatality rate is 1 in 8 for men and 1 in 11 for women. The report also stated that, more than 50 million people are living within 5 years of a past cancer diagnosis.
According to a report published by the World Health Organization (WHO) on 12th September 2018, cancer is the second-leading cause of death globally, and was responsible for an estimated 9.6 million deaths in 2018. While this data represents the high fatality rate of cancer, it also signifies huge demand for various medical devices and equipment for its diagnosis and treatment, of which, fiducial markers play a huge role.
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Who is Winning in this Space?
As key market players are investing more, competition is getting tougher gradually in the fiducial markers market space. In order to leverage new opportunities, key players are diversifying their products.
- Boston Scientific launched its new LumiCoil Platinum Fiducial Markers, which are designed for clear visibility in CT, X-ray, EUS, and others, in January 2018.
- Stellar Medical launched its new range of fiducial markers, such as Stellar Gold Fiducial Markers, Soft Tissue Implantable Gold Fiducial Markers, and others, in 2019.
- Eckert & Zieglar BEBIG
- Innovative Oncology Solutions
- Boston Scientific
- Best Medical International, Inc.
- IZI Medical Products
- Carbon Medical Technologies
- Nanovi A/S
- Stellar Medical
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