Fiducial Markers Market Is Set to Expand at A CAGR Of 8.4% To Reach US$ 226.7 Million During the Forecast Period 2022-2028
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 2022-2030.
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 2022-end.
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.
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- Global fiducial markers market to reach US$ 226.7 Mnby 2028, expanding at over 8.4% CAGR
- Pure gold fiducial markers to capture lion’s share, expected to generated over 60% revenue by 2022-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
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.
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
Key Segments of Fiducial Markers Industry Survey
Fiducial Markers Market by Product:
- Polymer-based Fiducial Markers
- Metal-based Fiducial Markers
- Pure Gold Fiducial Markers
- Liquid-based Fiducial Markers
Fiducial Markers Market by Modality:
- Photon Therapy
- Proton Therapy
Fiducial Markers Market by Disease Site:
- Head & Neck
- Cervix or Other Gynecologic Organs
Fiducial Markers Market by End Use:
- Cancer Research Institutes
- Radiotherapy Centers
Fiducial Markers Market by Region:
- North America Fiducial Markers Market
- Latin America Fiducial Markers Market
- Europe Fiducial Markers Market
- East Asia Fiducial Markers Market
- South Asia & Pacific Fiducial Markers Market
- Middle East & Africa (MEA) Fiducial Markers Market
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Why Future Market Insights?
- Comprehensive analysis on evolving purchase pattern across different geographies
- Detailed insights of market segments and sub-segments for historical as well as forecast period
- A competitive analysis of prominent players and emerging players in the keyword market
- Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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