Feb 01, 2021
Fiducial Markers Gaining Immense Traction as Standard Tool for Image-guided Radiotherapy: Fact.MR
by Team Fact.MR
Fiducial markers, tiny metal objects about the size of a grain of rice, are highly efficient in pinpointing the location of a tumor with high precision. As fiducial markers are an integral part of radiation therapy to target tumors without affecting nearby healthy tissues, they have high requirement in the healthcare and medical sectors. According to Fact.MR, the global fiducial markers market is set to expand at over 8% CAGR through 2031.
With the adoption of fiducial markers as a standard tool for image-guided radiotherapy, manufacturers are coming across huge demand. According to a report titled “Radiotherapy in Global Cancer Control” published by the Cancer Control Organization, availability of radiotherapy equipment varied from 8.6 machines per million people in high-income countries (as per the World Bank definition) to 1.6 per million in high-middle income, 0.71 in low-middle income countries, and 0.21 per million in low-income countries. This data reveals the growth scope for fiducial markers over the coming years.
Key Takeaways from Fiducial Markers Market Study
- Germany remains the leading country in the world’s largest market for fiducial - Europe
- The United States will remain the epicenter of the world’s largest fiducial markers market - North America - with a share of more than 85% in the region.
- China, Japan, Indonesia, and others to remain highly sought-after markets for suppliers.
- High demand for pure gold fiducial markers to fuel sales.
- Growing requirement of photon therapy to propel growth of fiducial manufacturers.
- In terms of disease site, prostate cancer to emerge as a dominant segment.
- Radiotherapy centers to lead market demand in terms of end user.
“With incorporation of cutting-edge technologies in modern healthcare systems, demand for fiducial markers has grown significantly in the past years, especially in radiotherapy. According to the report published by the International Journal of Medical Sciences, nearly 50% of all cancer patients receive radiation therapy during their course of illness, while it contributes towards 40% of curative treatment for cancer,” says a Fact.MR analyst.
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.
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.
- 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.
More Valuable Insights on Fiducial Markers Market
In the latest report by Fact.MR, we offer an unbiased analysis of the global fiducial markers market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (metal-based, polymer-based, and others) and cancer type (lung cancer, breast cancer, prostate cancer, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.