The global Fiducial Markers Industry presently boasts a valuation of US$ 153.6 Million, with a compelling projection to soar to US$ 408.3 Million by 2033, underpinned by a robust Compound Annual Growth Rate (CAGR) of 10.3% anticipated between 2023 and 2033. This remarkable ascent is fueled by an array of factors, chief among them being the escalating adoption of precision radiotherapy methodologies like image-guided radiotherapy, stereotactic radiosurgery, and intensity-modulated radiotherapy. These innovative approaches hinge upon the utilization of fiducial markers to pinpoint tumor locations with utmost precision and administer highly accurate radiation doses.
Furthermore, the integration of cutting-edge navigation technologies, exemplified by the SPiN System, assumes a pivotal role in guaranteeing the precise placement of fiducial markers for surgical resection or radiation therapy. Such advanced technology empowers healthcare practitioners to pinpoint the target site with unparalleled accuracy, effectively mitigating errors and elevating treatment outcomes to new heights.
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Radiotherapy has become a widely accepted treatment modality for various types of cancers, including breast cancer stages 1 and 2. In fact, many patients receive radiotherapy in combination with breast-conserving surgery. Furthermore, government agencies and social organizations are actively funding research related to cancer and fiducial markers, contributing to the growth of the market.
Overall, the expanding application of fiducial markers in cancer treatment, coupled with advances in navigation technology and increased funding for research, will drive the growth of the global Fiducial Markers Market in the upcoming years.
Modality-wise, the 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 doses, 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 its ability to provide 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 the 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 of 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 shortly”, 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, acquired 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 the 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 gynecologic organs), and by end-user (hospitals, cancer research institutes, and radiotherapy centers).
- With the increase in incidences of breast, prostate, and lung cancer with the 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
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Disease Site:
- Head & Neck
- Breast
- Lung
- Abdomen
- Prostate
- Kidney
- Cervix or other gynecologic organs
End User:
- Hospitals
- Cancer Research Institutes
- Radiotherapy Centers
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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