The global Fiducial Markers Market is worth US$ 153.6 Million as of now and is expected to reach US$ 408.3 Million by the year 2033 at a CAGR of 10.3% between 2023 and 2033.
With growing awareness regarding targeted radiotherapy techniques like image-guided radiotherapy, stereotactic radiosurgery, and intensity-modulated radiotherapy, fiducial markers are expected to witness an explicit demand in the years to come. Herein, advanced navigation technology by SPiN System helps in locating the target of placing fiducial marker properly for resection or radiation.
Radiotherapy has been recommended as palliative or parallel therapy with the other procedures of treatment for several types of cancers. For example – in breast cancer stage 1 and 2, majority of patients are prescribed radiotherapy and breast-conserving surgery sessions. Plus, social organizations and governments are continuously funding for research regarding cancer and fiducial markers.
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Modality-wise, market constitutes ultrasound, CT/CBCT, X-Ray, and MRI; out of which CT/CBCT holds a sizable market share and the trend is expected to remain the same even in the forecast period. This could be attributed to exposure to low dose, ease of integration with radiotherapy equipment that exists, and CBCT’s orthogonal imaging features are the factors basically driving the fiducial markers market.
Ultrasound modality would be the major contributor to the revenue due to ability of providing real-time volumetric information along with organ tracking. It is widely used in treating liver, prostate, and breast cancer.
MRI modality does provide precise and reliable details regarding soft tissues while treating complex cases like orthotopic prostate tumors. MRI-based LINAC system is also being increasingly adopted.
Beacon FNF from Medtronic plc comes across as a pre-loaded gold fiducial marker system reducing risk of complications commonly reported – like pneumothorax.
Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Fiducial Markers Market’. The team of analysts and consultants is there with its 360-degree view in primary, secondary, and tertiary modes of research.
“With various technological advancements being ushered for developing an advanced navigation system for appropriate product placement, the fiducial markers market is likely to grow on an altruistic note in the near future”, says an analyst from Future Market Insights.
Key Takeaways from Fiducial Markers Market
- North America holds the largest market share due to the US witnessing streamlined reimbursement policies along with public health programs. Plus, with advanced radiotherapy procedures and imaging modalities being increasingly adopted, the market is expected to flourish in the upcoming period.
- Europe holds the second-largest market share. It has been observed that more than 3.2 Million contract cancer every single year. The geriatric population is more into colorectal and breast cancer. Plus, numerous fiducial markers are being approved by CE. On these grounds, BioXmark, in March 2020, did receive CE approval. It was devised by Nanovi A/S.
- The Asia-Pacific is expected to witness growth at a rapid pace in the fiducial markers market in the forecast period. India and China are dominating the market. Along these lines, the government of China did relieve extra tax on 16 imported goods inclusive of medical LINAC systems.
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Competitive Markers
- Stratpharma AG, in the year 2019, did expand the agreement with US-based CIVCO for distributing the latter’s radiotherapy solutions at the global level.
- IZI Medical Products, in 2019, did acquire IBA’s RadioMed division, which produces VISICOIL implantable fiducial markers.
- Nanovi A/S, in 2018, did secure US$ 2.23 Million from the existing investors for expanding business and introducing BioXmark in Europe.
What Does the Report Cover?
- The research study is based on product (polymer based markers, metal based markers, pure gold markers, and liquid based markers), by modality (photon therapy, proton therapy, tomotherapy, and cyberknife), by disease site (head & neck, breast, lung, abdomen, prostate, kidney, and cervix or other gynaecologic organs), and by end-user (hospitals, cancer research institutes, and radiotherapy centers).
- With increase in incidences of breast, prostate, and lung cancer with growing adoption of radiotherapy for treating oncology, the global fiducial markers market is likely to witness persistence in the years to come.
Key Market Segments Covered in Fiducial Markers Industry Research
Product:
- Polymer Based Markers
- Metal Based Markers
- Pure Gold Markers
- Liquid Based Markers
Modality:
- Photon Therapy
- Proton Therapy
- Tomotherapy
- Cyberknife
Disease Site:
- Head & Neck
- Breast
- Lung
- Abdomen
- Prostate
- Kidney
- Cervix or other gynaecologic organs
End User:
- Hospitals
- Cancer Research Institutes
- Radiotherapy Centers
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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