Fiducial Market Sluggish Growth Rate Foreseen by 2023-2032

Fiducial markers, which are tiny metal pieces approximately the size of a rice grain, are very effective at precisely locating tumors. Fiducial markers have a high demand in the healthcare and medical sectors since they are a crucial component of radiation therapy to target cancers without damaging neighboring healthy tissues. The global market for fiducial markers is anticipated to grow at a rate of above 8% CAGR through 2031, predicts Fact.MR.

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Manufacturers are experiencing tremendous demand as fiducial markers become a regular tool for image-guided radiotherapy. The availability of radiotherapy equipment varied from 8.6 machines per million people in high-income countries (as defined by the World Bank) to 1.6 per million in high-middle income countries, 0.71 per million in low-middle income countries, and 0.21 per million in low-income countries, according to a report titled “Radiotherapy in Global Cancer Control” written by the Cancer Control Organization. The growing potential for fiducial markers during the ensuing years is revealed by this data.

Fiducial Markers Market – Scope of Report:

A recent study by Fact.MR on the fiducial markers market offers a 10-year forecast from 2021 to 2031. The study analyzes crucial trends that are currently determining market growth.

This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with the manufacturing of fiducial markers.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.

A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the fiducial markers market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Rise in Cases of Cancer Fuelling Sales of Fiducial Markers:

As fiducial markers are an integral part of radiation therapy for cancer patients, rise in cases of cancer is fuelling sales. As per a report published by The International Agency for Research on Cancer (IARC) in December 2020, globally, 1 in 5 people develop cancer during their lifetime, while the fatality rate is 1 in 8 for men and 1 in 11 for women. The report also stated that, more than 50 million people are living within 5 years of a past cancer diagnosis.

According to a report published by the World Health Organization (WHO) on 12th September 2018, cancer is the second-leading cause of death globally, and was responsible for an estimated 9.6 million deaths in 2018. While this data represents the high fatality rate of cancer, it also signifies huge demand for various medical devices and equipment for its diagnosis and treatment, of which, fiducial markers play a huge role.

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Segmentation by Category:

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 Gynaecologic Organs

End User

  • Hospitals
  • Cancer Research Institutes
  • Radiotherapy Centers

Region

  • North America
  • Latin America
  • Europe
  • Middle East and Africa (MEA)
  • East Asia
  • South Asia
  • Oceania

Who is Winning in this Space?

As key market players are investing more, competition is getting tougher gradually in the fiducial markers market space. In order to leverage new opportunities, key players are diversifying their products.

For instance,

  • Boston Scientific launched its new LumiCoil™ Platinum Fiducial Markers, which are designed for clear visibility in CT, X-ray, EUS, and others, in January 2018.
  • Stellar Medical launched its new range of fiducial markers, such as Stellar Gold Fiducial Markers, Soft Tissue Implantable Gold Fiducial Markers, and others, in 2019.

Report benefits & key questions answered

  • Post covid consumer spending on Fiducial Markers: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
  • Fiducial Markers demand outlook: the market intelligence study reports highlights the factor propelling the demand for Fiducial Markers. As per the study, the demand for Fiducial Markers will grow through 2031.
  • Fiducial Markers historical volume analysis:mr survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2021-2031.
  • Fiducial Markers consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.

About Fact.MR

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