With Rise In Adoption Of Fiducial Markers In Radiology To Target The Exact Location Of A Tumor Is Expected To Boost The Growth Of The Market By 8% CAGR
05 Aug 2022
Radiation TherapyCollaborate
Modern lifestyle, lack of healthy habits, cutting-edge technologies in hospitals and medical sectors have provided profitable avenues for the market
Fact.MR – A Market Research and Competitive Intelligence Provider: The global fiducial market is predicted to witness a CAGR of 8% during the forecast period.
Occurence of cancer and the number of radiotherapy centers has increased substantially in recent years. With increase in rates of lung, breast and prostate cancer, demand for fiducial markers is growing rapidly. Growing awareness regarding early detection and proper treatment is fuelling the sales of fiducial markers. Fiducial markers are also preferred as these are effectively used to treat cancerous tissues without touching healthy tissues.
While modern lifestyle, lack of healthy habits, and high adoption of cutting-edge technologies in medical industry has boosted the growth of the market.
Significant investments by governments and non-profit organizations in research & development activities and modern medical equipment further boosting the growth of fiducial markers.
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Moreover, various countries across Europe are reporting surge in new cases of breast cancer. For instance, as per Global Cancer Observatory, report published in 2020, 69,697 new cases of breast cancer were reported in Germany, while the new cases of lung cancer were 64,804 and prostate cancer were 67,959.
“With incorporation of cutting-edge technologies in modern healthcare systems, demand for fiducial markers has grown significantly in the past years, especially in radiotherapy. According to the report published by the International Journal of Medical Sciences, nearly 50% of all cancer patients receive radiation therapy during their course of illness, while it contributes towards 40% of curative treatment for cancer,” says a Fact.MR analyst.
Key Takeways:
United States is expected to be the world’s second largest market for fiducial markers due to rise in number of cancer institutes, radiotherapy centers in the region. Moreover, recently National Institutes of Health (NHI) collaborated with the National Cancer InstituteCancer Institute (NCI) to provide efficient treatment to the growing number of patients in the US.
By modality type, photon therapy is the most dominant segment due to its high efficiency. Photon therapy prevents cancer cells from dividing and growing and hence it is preferred due to its efficiency.
By disease site, lung cancer is the most commonly occurring cancer and this accounts for highest demand for fiducial markers.
Restraints:
Fiducial markers are not very affordable and this act as a restraint to the growth of the market
Also, Covid-19 pandemic had a negative impact on the manufacturing of fiducial markers due to non-operational manufacturing hubs. However, recovery has started and fiducial marker manufacturers are expected to witness an increase in revenue during the forecast period.
Growth Drivers:
High adoption of precise detection, cutting edge technologies in hospitals and advanced treatment of diseases such as cancer, tumors is expected to drive the growth of fiducial markers market.
Fiducial markers are preferred over other treatments as it targets the exact location while keeping healthy tissues intact.
Significant investments made by hospitals and medical companies/facilities are expected to fuel the sales of fiducial markers
Surge in number of cancer institutes, highly advanced medical manufacturing units, radiotherapy centers is expected to boost the revenue generated in the market
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Competitive Landscape:
Global fiducial markers market is growing rapidly. To continue to establish their foothold in the market, key players are focusing on launch of quality markers with upgraded features. For instance,
IBA launched the new Visicoil Twin-Line fiducial marker at the annual meeting of American Society for Radiation Oncology. The company offers innovative new solution that includes two markers separated by a bioresorbable spacer
Innovative Oncology Solutions launched its range of fiducial markers, such as SBRT immobilization and Supine Breast & Thorax Positioning
Civco launched its extensive range of fiducial markers, such as Monarch™ Vac-Lok™ Options and others in 2020.
Key Companies Profiled by Fact.MR
Eckert & Zieglar BEBIG
Innovative Oncology Solutions
Boston Scientific
IBA
Best Medical International, Inc.
IZI Medical Products
Carbon Medical Technologies
CIVCO
AlphaXRT
Nanovi A/S
Stellar Medical
More Valuable Insights on Fiducial Markers Market
Segmentation of Fiducial Markers Market
By Product:
Polymer Based Markers
Metal Based Markers
Pure Gold Markers
Liquid Based Markers
By Modality:
Photon Therapy
Proton Therapy
Tomotherapy
Cyberknife
By Disease Site:
Head & Neck
Breast
Lung
Abdomen
Prostate
Kidney
Cervix or Other Gynaecologic Organs
By End User:
Hospitals
CancerCancer Research Institutes
Radiotherapy Centers
Region
North America
Latin America
Europe
Middle East and Africa (MEA)
East Asia
South Asia
Oceania
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Fiducial Markers Market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis Product (Polymer Based Markers, Metal Based Markers, Pure Gold Markers, Liquid Based Markers), By Modality (Photon Therapy, Proton Therapy, Tomotherapy, Cyberknife), By Disease Site, By End User - Forecast 2021 to 2031
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