Fiducial Markers Market By Product (Polymer-Based Markers and Metal-Based Markers (Gold Combination Markers and Pure Gold Markers), Modality (MRI, Radiotherapy, Ultrasound and CT/CBCT), Cancer Type (Breast Cancer, Lung Cancer, Prostate Cancer, and Gastric Cancer) and End User (Cancer Research Centers, Hospitals & Outpatient Facilities, and Independent Radiotherapy Centers) – Global Analysis & Forecast 2020-2030

Fiducial Markers Market Overview and Introduction

Fiducial markers act as medical devices or small objects placed in or on the body to mark an area for radiation treatment or surgery. This aids the doctor to adjust the dosage of radiation to a tumor ensuring less harm to the nearby healthy tissues. Implantable fiducial markers provide a highly effective method to ensure accurate target localization for tumors or organs. The markers move to precise locations with respect to the external anatomy as required for stereotactic radiotherapy.

The global fiducial markers market is driven by the growing prevalence of different types of cancers. According to the WHO, cancer is the second leading cause of deaths globally and is responsible for an estimated 9.6 million deaths in 2018. The growing awareness among masses and advancements in the field of radiotherapy are resulting in the high demand for fiducial markers. Revised reimbursement policies for cancer treatment are resulting in an increased number of cancer patients opting for radiation therapy. In 2019, Medicare proposed increasing reimbursements for costly cancer therapies for patients whose blood cancers don’t respond to other treatments. Also, Medicare proposes higher payments for innovative cancer treatment. These factors are anticipated to propel market growth during the forecast period. However, the availability of alternative techniques to identify an area for radiation treatment may hinder market growth to a certain extent.

The global fiducial markers market has been segmented into the following categories – product, modality, cancer type, and end user.

Fiducial Markers Market By Product

Based on product, the market can be segmented into polymer-based markers, metal-based markers, and other fiducial markers. Metal-based markers are further segmented into gold combination markers, pure gold markers, and other metal-based markers. Metal-based markers will dominate the market during the forecast period owing to the charactertistic of these markers such as magnetic sensitivity, which helps in easy identification of the tumor area and with accuracy.

Fiducial Markers Market By Modality

Based on modality, the market can be segmented into MRI, radiotherapy, ultrasound, and CT/CBCT. The MIR modality accounted for the largest market share as it is used for image guidance owing to its excellent soft-tissue contrast, multi-planar capabilities and the potential to yield spectral or biological tumor mapping.

Fiducial Markers Market By Cancer Type

Based on cancer type, the market can be segmented into breast cancer, lung cancer, prostate cancer, gastric cancer, and other types of cancer. The prostate cancer segment dominated the market due to the increased number of patients suffering from it.  The American Cancer Society has estimated that in 2020, about 191,930 new cases of prostate cancer and about 33,330 deaths from prostate cancer will occur.

Fiducial Markers Market By End User

Based on end user, the market can be segmented into cancer research centers, hospitals & outpatient facilities, and independent radiotherapy centers. The hospitals & outpatient facilities segment dominated the market due to the increased number of hospitals & outpatient facilities, which are well equipped to treat cancer patients and have a well-trained workforce.

Fiducial Markers Market By Region

Based on the region, the global Fiducial Markers market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW).  North America dominated the market share owing to the high prevalence of cancer, and the high prevalence of leading market players contributing to market growth. Moreover, ongoing modernization and well-established health care infrastructure are further contributing to the overall market growth in this region.

Fiducial Markers Market Prominent Players

Some of the key players operating in the global fiducial markers market include CIVCO Radiotherapy, Boston Scientific Corporation, IZI Medical Products, IBA Worldwide, Naslund Medical Inc., Medtronic, Best Medical International, Inc., Nanovi A/S, Eckert & Ziegler., Innovative Oncology Solutions, and others.