The global fiducial markers Market pure gold markers is anticipated to achieve a valuation of USD 153.6 million by the end of 2023, with projections indicating significant growth at a compound annual growth rate (CAGR) of 10.3%. By 2033, the market is expected to reach a remarkable USD 408.3 million, as highlighted in a recent study conducted by Future Market Insights.
Pure gold markers have emerged as a dominant player in the market, projected to capture an impressive share of approximately 62.50% in 2023. Their unique properties, including biocompatibility and excellent visibility, make them highly sought after in various applications, including medical and industrial sectors.
Key Factors Driving Market Growth:
- Rising Demand in Medical Applications: The use of pure gold markers in medical imaging and diagnostics is driving market growth, as these markers provide accurate and reliable results, enhancing patient care.
- Increasing Awareness of Quality Standards: With a growing emphasis on quality and safety standards in manufacturing processes, pure gold markers are preferred for their superior properties compared to alternatives.
- Technological Advancements: Innovations in marker manufacturing processes and their applications are further propelling the market, as companies invest in developing high-performance products to meet the evolving needs of various industries.
- Expanding Applications: Beyond the medical sector, pure gold markers are increasingly utilized in industrial applications, including electronics and aerospace, further contributing to market expansion.
The promising outlook for the pure gold markers market presents ample opportunities for manufacturers and stakeholders to innovate and enhance their offerings to cater to the growing demand across various sectors.
Furthermore, advanced navigation technologies like the SPiN System play a critical role in accurate fiducial marker placement for improved resection and radiation delivery. By enabling clinicians to precisely target sites, these technologies help reduce errors and improve patient outcomes.
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 Global Fiducial Markers Industry.
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 Global 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.
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 faced by clients 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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube