According to the latest study by Fact.MR, a market research and competitive intelligence provider, the global fiducial markers market is estimated at US$ 138.7 million in 2022 and is predicted to expand at a CAGR of 7.9% during the forecast years of 2022-2032.
The market is anticipated to benefit from rapid advancements in cancer research and treatment. It has been estimated that 1 in 5 persons will develop cancer at some point in their lives, with nearly 12% of men and 9% of women dying from the condition. Additionally, more than 50 million people are currently living within five years after a previous diagnosis.
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As a result, initiatives to support oncology research have increased, which has created a favorable environment for the development of fiducial markers.
- The Global Taskforce on Radiotherapy for Cancer Control (GTFRCC) discovered that by 2035, nearly 12 million cancer patients would benefit from radiotherapy, with the potential to save 950,000 lives and help control cancer for 2.5 million people globally.
- Additionally, it is anticipated that, by 2035, approximately 12 million cancer patients would benefit from radiotherapy, potentially saving 950,000 lives and assisting in the control of the disease for 2.5 million people worldwide.
This indicates that fiducial markers will gain rapid traction over the coming years. They have become the gold standard for image-guided radiotherapy over time, inspiring manufacturers to launch brand-new products in the market. The need for fiducial markers is anticipated to grow in the future years as governments in developing nations step up their efforts to increase healthcare access.
Key Takeaways from Market Study
- The global fiducial markers market is projected to expand at an impressive CAGR of 7.9% and reach US$ 295.6 million by 2032.
- The market expanded at 10.3% CAGR from 2017 to 2021.
- Under product type, pure gold markers are estimated to be valued at US$ 87.1 million in 2022.
- Europe dominated the global market with 28.4% share at the end of 2021.
- Revenue from fiducial markers is expected to increase at CAGRs of 6.4% and 6.8%, respectively, in North America and Europe.
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“Fiducial markers have advanced significantly as a result of the widespread adoption of cutting-edge technology, with manufacturers successfully utilising innovations such as precision-based imaging to help healthcare providers achieve higher accuracy in oncology treatment,’’ says Fact.MR analyst.
The fiducial markers market is partially fragmented, in which, key manufacturers are competing with each other in terms of product innovation and development. On the other side, emerging as well as mid-level players are trying to get product approvals from government authorities for successful product launches in the market.
Moreover, for global expansion and financial support, market players are investing in inorganic strategies such as acquisitions, partnerships, collaborations, etc.
|Fiducial Markers Market Size (2021A)||US$ 126.2 Million|
|Estimated Market Value (2022E)||US$ 138.7 Million|
|Forecasted Market Value (2032F)||US$ 295.6 Million|
|Global Market Growth Rate (2022-2032)||7.9% CAGR|
|North America Market Share (2021)||~ 27.8%|
|Europe Market Growth Rate (2022-2032)||~ 6.8% CAGR|
|United States Market Growth Rate (2022-2032)||~ 6.2% CAGR|
|Market Share of Top 5 Companies||~ 22.5%|
|Key Companies Profiled||
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