Global Fiducial Markers Market, By Product (Metal-Based Markers, Polymer-Based Markers, Other Fiducial Markers), By Modality (CT/CBCT, MRI, Radiotherapy, Ultrasound), By Type (Lung Cancer, Gastric Cancer, Prostate Cancer, Breast Cancer, Other Cancers), By End-User (Hospitals & Outpatient Facilities, Independent Radiotherapy Centers, Cancer Research Centers), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: August 2021
- Report ID: BWC2134
- Available Format: PDF
- Page: 200
Report OverviewThe global fiducial markers market is growing at high rate because of the rising prevalence of various types of cancers, such as lung, breast, prostate, and gastric cancers, and the use of radiation therapy for oncology treatment, as well as increasing technological advancements in healthcare facilities.
The global fiducial markers market was worth USD 100.1 million in 2020 and is further projected to reach USD 137.5million by the year 2027, growing at the CAGR of 4.8% in the forecast period. The market is expanding rapidly as a result the rising prevalence of cancers such as lung, breast, prostate, gastric, and others, as well as the increased use of radiation therapy in oncology treatment.Furthermore, the global fiducial markers market would be propelled by increasing technological advancements in healthcare facilities
Source: BlueWeave Consulting
Global Fiducial Markers Market- Overview
The fiducial markers are grain-size metal objects which are used as an imaging guidance during radiation therapy to pinpoint the exact location of the tumor.It is made up to metal, generally gold. Some fiducial markers are also made of polymer or carbon. Placement of a fiducial marker may require imaging equipment such as CT scans or ultrasounds, as well as the use of an endoscope. Though these markers are widely used in cancer treatments, they can also be applied to a variety of other areas, such as in medical imaging, metrology, augmented reality, and genetic testing.
Global Fiducial Markers Market Forecast and Trends
Increasing Prevalence of Cancer
With the increasing frequency of various types of cancer all over the world, the use of radiation therapy for treatment is also on the rise, driving up demand for fiducial markers.The International Agency for Research on Cancer (IARC) released its updated Globocan 2020 report in December 2020, indicating a rise of 19.3 million cancer cases and a ten-million cancer death toll for 2020.Furthermore, especially in developing and low-income nations, there is still a big gap between cancer patients and diagnoses. As a result, the fiducial markers have a lot of room for growth over the forecast period.
Surging Use of Radiotherapy and Medical Imaging Procedures
Radiotherapy or radiation therapy is the most common and widely used method for cancer treatment, which is used for killing cancer cells and tumors. This factor will further fuel the demand for fiducial markers as it is a major equipment required during radiation therapy. Additionally, cancer diagnoses are increasing at a high rate because of the use of various medical imaging procedures such as CT scan, X-ray, MRI, and ultrasound.Due to this, the global fiducial markers market is estimated to gain significant traction.
Availability of Radiation Therapy Alternatives
Fiducialmarkersare used to ensure that each radiation treatment is precisely aligned with the target. However, radiation therapy can also cause several side effects such as baldness, hair loss, fatigue, etc.As a result, radiation therapy is often replaced with alternatives.One such therapy is proton therapy, which uses atomic particles charged positively to treat cancer.An increase in the use of other alternatives to radiation therapy could hinder the growth of fiducial markers during the forecast period.
Impact of COVID-19 on Global Fiducial Markers Market
COVID-19 is having a severe effect on the global market for fiducial markers.This is because of the sharp decline in the demand for fiducial markers post the declaration of the nationwide lockdowns to curb the spread of the deadly coronavirus. Researchers have found that the number of cancer screenings reduced by 85% since the COVID-19 was declared a pandemic by the WHO.Consequently, the demand for fiducial markers declined as well. Nevertheless, the post-COVID-19 period will be more lucrative in fulfilling the gap between diagnosis and patients with curable cancer.
Global Fiducial Markers Market - By Product
Based on products, the global fiducial markers market is segmented into metal-based markers, polymer-based markers, and other fiducial markers. Among these, the metal-based market holds the largest market share. This segment is further classified into pure gold markers, gold combination markers, and other metal-based markers. At present, pure gold markers enjoy considerable market demand since they target the tumor more accurately, which allows doctors to administer higher radiation doses without causing damage to adjacent tissues.
Global Fiducial Markers Market - By Modality
Based on modalities, the global fiducial markers market is categorized into CT/CBCT, MRI,radiotherapy, and ultrasound. The CT/CBCT segment accounts for the largest market share.CT/CBCT are used frequently for lung cancer diagnosis and offer many benefits including lower radiation doses, lower costs, fewer space requirements, easier image recognition, and interactive displays. However, the ultrasound modality is estimated to witness a higher CAGR during the forecast period.
Global Fiducial Markers Market - Regional Insights
Geographically, the global fiducial markers market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America accounts for the largest market share, followed by Europe. Fiducial markers are in big demand in the region due to the strong presence of leading market players in countries such as the US. Moreover, favorable reimbursement policies are also driving the growth of the fiducial markers market in the North American region.The market share of Europe is also significant because breast and colorectal cancer are becoming more prevalent in the region and people are more aware of early diagnosis.
Source: BlueWeave Consulting
The leading market players in the global fiducial markers market are Nanovi A/S, Carbon Medical Technologies, IZI Medical Products, Innovative Oncology Solutions, Naslund Medical AB, Qfix, CIVCO Radiotherapy, Varian Medical Systems, Inc., Stellar Medical, Eckert & Ziegler, Gold Anchor, JJ-Medtech, Boston Scientific Corporation, Medtronic, Beekley Corporation, QLRAD, Meditronix Corporation, Best Medical International, Inc., and other prominent players.
To obtain a competitive advantage, market players strive to incorporate new technologies and innovations into their products.The companies also adopt competitive strategies like partnerships, mergers, and acquisitions, collaborations, etc. to expand their product portfolio and increase their market penetration. For instance, in 2019, IZI Medical Products LLC, a leading radiology medical device company acquired RadioMed, the manufacturer of VISICOIL implantable fiducial marker, from its parent company IBA S.A.
Recent Developments in the Global Fiducial Markers Market
- In June 2021, Navigation Sciences, a US-based clinical-stage company, announced the commencement of the first-in-human clinical feasibility trial of its NaviScitm System for tissue-conserving removal of early-stage lung tumors. This system consists of several components like a fiducial marker, surgical cutting instrument, etc.
- In January 2021, C4 Imaging LLC, a US-based medical device company, announced to have received FDA 510(k) clearance for the use of C4 imaging’s Serious positive-signal MRI Markers with Isoray’s Cesium-131, brachytherapy seeds.
Scope of the Report
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia
By Product, By Modality, By Type, By End-User, By Region
Nanovi A/S, Carbon Medical Technologies, IZI Medical Products, Innovative Oncology Solutions, Naslund Medical AB, Qfix, CIVCO Radiotherapy, Varian Medical Systems, Inc., Stellar Medical, Eckert & Ziegler, Gold Anchor, JJ-Medtech, Boston Scientific Corporation, Medtronic, Beekley Corporation, QLRAD, Meditronix Corporation, Best Medical International, Inc., and other prominent players.
- Metal-Based Markers
Pure Gold Markers
Gold Combination Markers
Other Metal-Based Markers
- Polymer-Based Markers
- Other Fiducial Markers
- Lung Cancer
- Gastric Cancer
- Prostate Cancer
- Breast Cancer
- Other Cancers
- Hospitals & Outpatient Facilities
- Independent Radiotherapy Centers
- Cancer Research Centers
- North America
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
1. What is the current size of the global fiducial markers market?
Answer: The global fiducial markers market reached USD 100.1million in 2020.
2. What are the major factors driving the growth of the global fiducial markers market?
Answer: The major factors driving the growth of the global fiducial markers market are the increasing prevalence of cancer and surging use of radiotherapy and medical imaging procedures.
3. Who are the key players in the global fiducial markers market?
Answer: The key players in the global fiducial markers market are: Nanovi A/S, Carbon Medical Technologies, IZI Medical Products, Innovative Oncology Solutions, Naslund Medical AB, Qfix, CIVCO Radiotherapy, Varian Medical Systems, Inc., Stellar Medical, Eckert & Ziegler, Gold Anchor, JJ-Medtech, Boston Scientific Corporation, Medtronic, Beekley Corporation, QLRAD, Meditronix Corporation, Best Medical International, Inc., and other prominent players.
4. Which end-user segment accounted for the largest share in the global fiducial markers market?
Answer: The hospital segment accounted for the largest share in the global fiducial markers market.
5. Which region is at the highest growth rate in the global fiducial markers market?
Answer: North America has the largest share in the global fiducial markers market.
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