The global market for fiducial markers is on track for a significant surge, fueled by growing demand across diverse industries. A recent market analysis by Future Market Insights reveals the industry’s current value at US$153.6 million in 2023. However, the future looks even brighter, with the market projected to experience a phenomenal Compound Annual Growth Rate (CAGR) of 10.3% over the next decade. This impressive growth trajectory translates to a projected market valuation of a staggering US$408.3 million by 2033
The meteoric rise of the Fiducial Markers Industry can be attributed to the expanding adoption of cutting-edge targeted radiotherapy techniques. These techniques, including image-guided radiotherapy, stereotactic radiosurgery, and intensity-modulated radiotherapy, rely on fiducial markers to precisely pinpoint tumors and deliver highly accurate radiation doses.
A game-changing factor in this surge is the integration of advanced navigation technologies such as the SPiN System. These innovations play a pivotal role in ensuring the precise placement of fiducial markers for surgical resection or radiation therapy. By empowering clinicians to pinpoint target sites with unparalleled accuracy, these technologies are driving down errors and revolutionizing treatment outcomes.
The compelling growth story of the Fiducial Markers Market reflects the dynamic landscape of healthcare, where precision and innovation converge to redefine patient care. As we move into the future, the synergy between radiotherapy advancements and cutting-edge navigation tools is set to elevate healthcare to unprecedented heights, offering patients a new ray of hope in their journey toward recovery.
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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 Industry 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 Industry’. 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 Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the 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 Industry 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.
Fiducial Markers Market 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 Industry is likely to witness persistence in the years to come.
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Key Segments Covered in Fiducial Markers Market 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 gynecologic organs
End User:
- Hospitals
- Cancer Research Institutes
- Radiotherapy Centers
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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 is 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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