Fiducial Markers Market to Garner Brimming Revenues by 2030
Future Market Insights (FMI) has recently published an exhaustive yet unbiased study on the global fiducial markers market elaborating on the vital dynamics responsible for shaping future growth trajectory for the forecast period ranging from 2020-2030.
According to the American Cancer Society, in 2019, approximately 174,650 men were diagnosed with prostate cancer, up by 6% from 2018. It is also the second leading cause of deaths among American men, with over 33,000 fatalities expected by 2020-end.
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Therefore, manufacturers are likely to find immense opportunities with respect to introducing fiducial markers to aid in eradicating this deadly disease across potential regions. Recent research has paved the way for non-implantable fiducial markers using the cone-beam CT technology.
- Global fiducial markers market to reach US$ 258.8 Mn by 2030, expanding at over 8% CAGR
- Pure gold fiducial markers to capture lion’s share, expected to generated over 60% revenue by 2020-end
- By modality, photon treatment is expected to generate an absolute opportunity worth US$ 12 Mn through 2030
- Maximum uptake likely across the prostate cancer segment, accounting for over 7 out of 10 fiducial marker applications
- Radiotherapy centers to remain primary end-users of fiducial markers due to deployment of specialized cancer treatments
- Europe and North America to capture an impressive market share, East Asia following closely
“Increasing research and development for discovering technologically advanced solutions to treat cancers and other debilitating disorders is generating immense green space for potential fiducial markers market players,” says the FMI analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic has widened growth prospects for the global fiducial markers market. As cancer treatment acquires precedence, healthcare providers are making accommodations to address patients suffering from debilitating conditions. Consequently, the need for precision-based detection systems has aggrandized in recent months.
Amid strict hygiene and social distancing protocols, healthcare providers are conducting radiation and chemotherapy procedures, leading to increased uptake of fiducial markers. Moreover, to reduce infection risks, patients requiring immediate surgical care are attended to first while consultation for possible prevalence have been shifted to virtual platforms.
The global fiducial markers market comprises of the following prominent players: Eckert & Ziegler BEBIG, Innovative Oncology Solutions, Boston Scientific, IBA Dosimetry, Best Medical International, Inc., Carbon Medical Technologies, CIVCO, alphaXRT, Nanovi A/S, and Stellar Medical to name a few.
A combination of expansion strategies, ranging from new product launches to strategic collaborations and alliances and technological disruptions are employed by these manufacturers to stay afloat in this highly competitive environment.
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Innovative Oncology Solutions, for instance, markets the FLEXIMARC G/T Specialty Fiducial Markers, consisting of two 1.2 mm x 3 mm gold nodes separated by a thin, medical grade titanium filament which is optimized for MRI visibility. This permits soft tissue to anchor the marker in place, reducing chances of migration.
With regard to technological advancements, IBA Dosimetry announced the launch of its myQA iON radiation therapy integrated quality assurance (QA) platform in 2019. This platform incorporates process automation, task-based workflows and PT machine log files to streamline cancer treatment procedures.