Fiducial Markers Market Report
Global Fiducial Markers Market, Dynamics, and Market Analysis See less
Global Fiducial Markers Market, Dynamics, and Market Analysis
Global Fiducial Markers Market is segmented By Product (Gold, Gold Combination, Polymer, Other Metals, Liquid), Modality (CT/CBCT, MRI, Ultrasound, X-Ray), By Application (Breast Cancer, Lung Cancer, Prostate Cancer, Head and Neck Cancer, Others), By End-Use (Hospitals, Radiotherapy Center, Academic and Research Center), and Region - COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global fiducial markers market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
Global Fiducial Markers Market is segmented By Product (Gold, Gold Combination, Polymer, Other Metals, Liquid), Modality (CT/CBCT, MRI, Ultrasound, X-Ray), By Application (Breast Cancer, Lung Cancer, Prostate Cancer, Head and Neck Cancer, Others), By End-Use (...
The Global Fiducial Markers Market is projected to grow from USD 108.3 million in 2020 to USD 140.6 million by 2026 at a CAGR of over 4.4% during the forecast period.
Figure: Global Fiducial Markers Market Size, 2020-2026 (USD Million)
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A fiducial marker is a medical device that is mainly placed on the object or body so that it can mark the area that needs to get surgery. These markers are very tiny equipment of the size of rice grains, which can help to target cancerous tumours or tissues without affecting the healthy ones. This device enables to mark of the exact position of the tumour and can help the doctor to provide maximum radiation dose to the particular area consisting of the tumour without harming the surrounding tissues.
Key players operating in the global fiducial markers market are-
The growing adoption of radiotherapy devices by oncologists coupled with rising cases of cancer across the globe are the prime factors augmenting the product demand. Also, the surging demand for SBRT and IGRT procedures further boosts market growth.
Moreover, increasing awareness regarding the fiducial markers to give effective diagnosis further offers lucrative opportunities to the industry players. However, the requirement of placing fiducial markers before the CT scan will necessitate a second 3D scan before or during surgery can hamper the industry expansion.
By product, the fiducial markers market has been categorized into the gold, gold combination, polymer, and other metals, liquid.
Under these, the gold segment witnessed the highest market share in 2020 and is likely to register a significant CAGR during the review period.
This is mainly attributed to the accurate visibility and excellent stability of these products across various imaging modalities. Also, gold fiducial markers come in combination with various metals, such as platinum, titanium, and nickel, for better efficiency.
By region, the North American market garnered the largest market share in 2020 and is projected to grow at a substantial CAGR during the assessment period.
This is mainly ascribed to streamlined reimbursement policies, the strong presence of key market players, and public health programs in the region. Growing healthcare expenditure and rising adoption of advanced radiotherapy procedures & imaging modalities further boosts the regional growth.
The outbreak of COVID-19 virus has moderately affected the fiducial markers industry owing to stringent lockdown measures and restricted movement of people. The ongoing coronavirus pandemic has adversely altered the healthcare landscape.
As major healthcare companies accelerate efforts to discover potential vaccines and drugs for COVID-19, with immense pressure being exerted across global hospital infrastructures. In spite of this, the market for fiducial markers has remained strong due to unceasing cancer treatments. Although, some of the treatments were postponed or cancelled.
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The following is a list of the customers that the Fiducial Markers market aims to convert the most:
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The fiducial markers market is expected to witness an impressive growth of 4.4% CAGR in the foreseeable future.
CIVCO Radiotherapy (The U.S), IZI Medical Products (The U.S), Naslund Medical AB (Sweden), Medtronic, Inc. (Ireland), QlRad Inc. (Netherlands), QFix (The U.S), Boston Scientific Corporation (The U.S), Nanovi A/S (Denmark), Eckert & Ziegler (Belgium) and IBA Dosimetry GmbH (Germany) are among the key players in the fiducial markers market.
The fiducial markers market size is expected to reach USD 140.6 million in the coming years.
North America garnered the largest share in the fiducial markers market in 2020.
The gold segment witnessed the highest share in the fiducial markers market in 2020.
The growing adoption of radiotherapy devices by oncologists coupled with rising cases of cancer across the globe, increasing awareness regarding the fiducial markers to give effective diagnosis are the factors driving the growth of fiducial markers market.
Fiducial Markers companies, Fiducial Markers vendors, R&D companies, Hospitals, Cancer organizations are the target audience in the fiducial markers market.