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I AgreeAnalysis of Fiducial Markers market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global fiducial markers market is set to reach US$ 138.7 million in 2022 and further expand at a CAGR of 7.9% to end up at a market valuation of US$ 295.6 million by 2032.
Pure gold markers lead the race and are anticipated to contribute more than 55% share of the global market during the forecast period (2022-2032).
Report Attributes |
Details |
---|---|
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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Rising prevalence of various types of cancers among the global population has created a high requirement for the identification of tumors, which has generated a huge space for fiducial markers. Intensifying prevalence of tumors, cancer, and associated diseases led to the high acceptance of fiducial markers among radiotherapy centers, hospitals, cancer institutes, and others over the historical period (2017 to 2021), which amplified the sales of fiducial markers at a CAGR of 10.3%.
Moreover, rising awareness regarding the early detection of cancer and proper treatment of radiotherapy will further fuel the sales of fiducial markers during the forecast period. Manufacturers are also focusing on enhancing the variety of fiducial markers, which will increase their demand across the globe.
Fact.MR predicts that the global fiducial markers market will be valued at US$ 295.6 million by the end of 2032, expanding at a CAGR of 7.9%.
Market share analysis of fiducial markers based on product type and region. Under the product type segment, pure gold markers dominate with 62.8% market share in 2022.
“Intensifying Prevalence of Various Cancers Led to Upsurge in Sales of Fiducial Markers’’
Growing prevalence of various cancers such as lung cancer, breast cancer, and prostate cancer is expected to drive the demand growth for fiducial markers over the forecast period. In recent years, demand for non-invasive procedures, and radiation therapies for cancers, such as prostate cancer, has increased significantly.
Moreover, patients suffering from cancer, especially in developed regions, are progressively being treated with radiation therapies with fiducial marker placement for the particular positioning of the therapy and better and improved results post-procedure.
Moving cancer forms such as prostate cancer and lung cancer have a high demand for fiducial marker placement before radiation therapy. The moving organs pose a high threat of improper treatment, leading to lower efficiency of the results. Increase in the prevalence of these cancers is expected to boost the growth of the fiducial markers market over the coming years.
“Growing Adoption of Radiotherapy Devices by Oncologists and Rising Demand for IGRT and SBRT Procedures”
Radiation treatment plays an extremely vital role in the management and treatment of cancer. Over the recent years, this approach has become highly contained with technological advancements and has doubled the need for radiotherapy during the last 10 years.
More than 50% of all cancer patients are expected to get radiotherapy throughout the treatment of their disease, either for symptom control or in primary management. This approach has further ensured the usage of radiotherapy fields that promise the proper treatment of tumors and the capability to heighten the radiation dose with subsequently developed outcomes and minimum toxicity.
Modern radiotherapy devices are high in demand for the irradiation procedures of organs that are not stable in position. Ensuring the exact positioning of the target structure that needs to be radiated before or during the treatment requires constant image guidance by X-ray radiography (image-guided radiotherapy IGRT) or computed tomography (CT).
Thus, due to certain combinations of novel irradiation imaging and devices, such as in-room CT or onboard imaging, tomotherapy systems are developed and are high in demand.
The development of novel systems capable of tracking fiducial markers for tumors in moving organs is expected to boost market growth during the forecast period.
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“High Risk of Complications Associated with Fiducial Marker Placements”
The use of fiducial markers has helped in pointing the position of tumors to deliver maximum dosage while minimizing the dose delivery to the surrounding healthy tissue. Though this has proved to be of great advantage in radiation therapy procedures, there are also certain complications that fiducial markers carry.
Fiducial markers are supposed to be fixed at a particular target, however, they might move away from the originally placed position where they were implanted. A long period is required in between the implantation of markers and for them to hold the position and stabilize.
Certain risks are associated with the use of fiducial markers. Fiducial markers, when placed or used for lung cancer treatment, might lead to a complication called collapsed lung or pneumothorax. In this condition, the surgeon is required to insert a chest tube for removing the air pocket and further re-expand the lung.
Prostatitis is another complication associated with fiducial marker placement in the prostate. Approximately 32% of patients with fiducial marker implants have at least one symptom of prostatitis, i.e., fever or shivers, pain, dysuria, or frequency.
Any treatment procedure where the skin is needed to be penetrated carries a risk of infection. This possibility of infection requires antibiotic treatments. These factors are expected to hamper the growth of the fiducial markers market to some extent.
The fiducial markers market in the U.S. is expected to expand at a CAGR of 6.2% from 2022 to 2032.
The dominance of the U.S. is because of a high number of radiotherapy centers, cancer institutes, and extremely developed manufacturing units. It has been observed that radiation therapy centers are rapidly rising in number due to a high number of cancer cases.
China has made significant advancements in the detection and treatment of several types of cancer. Manufacturers of fiducial markers have benefited immensely due to the integration of cutting-edge technologies in radiation meant for cancer.
Over the next few years, demand for fiducial markers is likely to rise as more cancer patients turn to correct treatment at an earlier stage. Hence, following these factors, China will become a highly lucrative market for fiducial marker manufacturers.
The fiducial markers market, under product type, is categorized into polymer-based markers, metal-based markers, pure gold markers, and liquid-based markers. Amongst them, pure gold fiducial markers held the largest market share of 63.1% in 2021 and are expected to witness a CAGR of 7.5% during the forecast years of 2022-2032.
Pure gold fiducial markers have gained high popularity among all the markers and are expected to hold this position during the forecast period. Intraprostatic gold fiducial markers ensure that highly accurate and precise image-guided radiation therapy can be administered to patients suffering from prostate cancer. These are also highly preferred by radiologists in treating lung, breast, and other types of cancers.
Patients with prostate cancer receive extremely accurate and precise image-guided radiation therapy with the use of intraprostatic gold fiducial markers.
In terms of modality, the market is segmented into photon therapy, proton therapy, tomotherapy, and cyberknife. Out of these, the photon therapy segment holds a majority of the share in the global market. It is anticipated to follow the same trend during the forecast period. The segment is projected to account for 50.8% share of the market by 2032.
The dominance of photon therapy is due to its high demand from varied end-users such as radiotherapy centers, hospitals, and others. Photon therapy attacks tumors by preventing cancer cells from growing and dividing, and hence, it is highly desirable due to its efficiency.
Prominent fiducial marker manufacturers are Eckert & Ziegler BEBIG, Innovative Oncology Solutions, Boston Scientific, IBA Dosimetry, Best Medical International, Inc., IZI Medical Products, Carbon Medical Technologies, CIVCO, alphaXRT, Nanovi A/S, and Stellar Medical.
Most companies producing fiducial markers are working towards expanding their product portfolios. However, the most significant approach towards increasing the customer pool is through the marketing of the product through online portals. Making the product available on online channels is also expected to drive the growth of the market.
Fact.MR has provided detailed information about the price points of key manufacturers of fiducial markers positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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Sales of fiducial markers are anticipated to reach US$ 295.6 million by 2032.
Pure gold markers account for 62.8% share of the global market.
The global fiducial markers market is valued at US$ 138.7 million in 2022.
Europe leads the global market and accounts for 28.3% market share in 2022.
From 2017 to 2021, worldwide sales of fiducial markers increased at 10.3% CAGR.