Fiducial Markers Market is anticipated to grow at a CAGR of 4.3% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Fiducial Markers Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Global Fiducial Markers Market accounted for over US$ 94 million in 2019. It is anticipated to grow at a CAGR of 4.3% from 2020 to 2030.
Fiducial markers are tiny metal objects that allow doctors to line up the beams of radiation to make sure that radiation therapy is delivered the same way each time. This helps them to target tumors and avoid healthy tissues. Fiducial markers are emerging as a standard tool for image-guided radiotherapy (IGRT). These markers are implantable devices designed to act as reliable surrogates for imaging anatomic structures of interest.
The market growth of fiducial markers can be attributed to the increased number of cancer patients globally. As per the U.S. Department of Health and Human Services, in 2018, 1,735,350 new cases of cancer were diagnosed in the U.S. and 609,640 people died from the disease. This leads to an increased demand for fiducial markers. The adoption of radiation therapy along with that of External Beam Radiation Therapy (EBRT) procedures that utilize FMs for tumor localization is growing rapidly. Additionally, the development & modernization of healthcare facilities are supporting market growth. Furthermore, increased investments in R&D by major biopharmaceutical companies are also leading to market growth.
Other factors, such as supportive government policies and improvised reimbursement Medicare policies, are expected to provide lucrative growth opportunities for the market. Moreover, technological advancements by the key players will also boost market growth.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, 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 in detail along with the table of contents:https://www.marketindustryreports.com/fiducial-markers-market/336
However, the dearth of skilled professionals and high costs of these markers, as well as complications associated with the placement of fiducial markers, may curb market growth to a certain extent.
Asia Pacific is estimated to be the fast-growing region owing to the high prevalence of cancer patients and regulatory reforms in the region. Furthermore, surging investment in R&D activities by key market players, ongoing modernization & expansion of healthcare infrastructure, growing medical tourism, and improving research capabilities are expected to improve radiotherapy accessibility, further supporting market growth.
Some of the prominent players 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.
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