The global fiducial markers market is expected to reach USD 127.3 Million by 2027, according to a new report by Reports and Data. Fiducial markers find usage in image-guided radiotherapy procedures, where the placement of the markers is by modalities such as computed tomography (CT) or ultrasound, among others, and may encompass the application of an endoscope. Fiducial markers assist in precisely locating a tumor, thereby allowing the radiologist or a team of radiologists to provide the maximum radiation dosage to the tumor while mitigating the dose radiation imparted to healthy tissue in the vicinity.

The growing prevalence of cancer is a significant factor in driving the fiducial markers market growth. Cancer has a significant impact on global society, including the US. Detection of the disease at an early stage significantly increases the chances of survival. Creating awareness to encourage early diagnosis and screening are the crucial steps responsible for early detection of the disease. Identifying likely warning symptoms of the disease and taking rapid measures is necessary for early diagnosis. Greater awareness of probable symptoms of cancer amongst physicians, nurses, and other healthcare providers, in addition to the general public, would positively impact the survival rate and hence would be instrumental in increasing the market demand. The American Cancer Society proposes that in 2020, over 1.8 million individuals are likely to be diagnosed with cancer, of which various patients would require a blood transfusion, occasionally on a daily basis.

Additionally, a growing inclination towards fiducial markers in stereotactic radiosurgery is of significant importance in propelling the market growth. Stereotactic surgery is a form of minimally invasive surgical technique used to treat functional defects and small tumors of the brain. This minimally invasive surgery is meant especially for those patients having tumors and abnormalities that are hard to reach, subject to movement within the body, or located close to vital organs and anatomic regions.

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COVID-19 Impact

As the global economies are experiencing the negative impact of the Covid-19 pandemic, organizations are suffering losses, among various other challenges. Nevertheless, firms in the pharmaceutical industry are of immense importance in combatting the pandemic and are witnessing positive growth in the contagious disease landscape with the race for treatment approval therapy gaining momentum. Patients presently taking cancer therapy or Individuals with active cases may possess different risk profiles associated with contracting COVID-19 and peril of complications arising out of infection from the virus. Cancer patients may suffer from an impaired immune system based on type, treatment approach, age, and various other health-related factors, thereby creating a growing demand for fiducial markers.

The global pharmaceutical and healthcare industry has gained significant momentum since the COVID-19 outbreak. The global health crisis has led to an unprecedented impact on the industry and brought about major disruptions in healthcare technologies. Growing prevalence of chronic and infectious diseases worldwide, increasing cases of COVID-19 infections, enforcement of stringent norms and regulations by world-leading healthcare regulatory authorities, and increasing government initiatives towards public safety measures are major factors contributing to industry revenue growth. Rising focus of pharmaceutical companies on vaccine development, increasing COVID-19 support from international health agencies, rapidly increasing pharmaceutical and biotechnological research development activities, and growing healthcare expenditure of consumers further propel the industry revenue growth.

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Further key findings from the report suggest

• By type, metal-based markers contributed to the largest fiducial markers market size in 2019. Metal-based markers such as gold fiducial markers find widespread application owing to the offering of benefits like a high contrast level and better visualization.
• By modalities, ultrasound is likely to grow at a rate of 4.7% in the forecast period for the fiducial markers market, attributed to a lower level of toxicity associated with ionizing radiation, as well as cost-effectiveness as compared to other forms of modalities.
• By cancer type, lung cancer is likely to witness a growth rate of 4.8% in the forecast period for the fiducial markers market. It may occur due to various reasons, including smoking, genetic, and exposure to toxic gases. The American Cancer Society projects over 228,000 lung cancer cases, with the occurrence of the disease being higher in men than women. It is a significant cause of death in both US men and women dying due to cancer.
• The fiducial markers market in the Asia Pacific region is expected to grow at the fastest rate of 5.5% in the forecast period. The high growth of the APAC region is owing to the growing prevalence of target conditions, growth of the pharmaceutical industry, and a surge in RD activities the diagnostic procedures, among others.
• Key participants include Boston Scientific Corporation, Naslund Medical AB, Carbon Medical Technologies, Stellar Medical, CIVCO Radiotherapy, Medtronic, Innovative Oncology Solutions, IZI Medical Products, Nanovi A/S, and Eckert Ziegler, among others.
• In December 2019, IZI Medical Products, LLC, a leading fiducial markers market player, made an announcement about the acquisition of RadioMed, the producer of VISICOIL™, an implantable fiducial marker.

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For the purpose of this report, Reports and Data have segmented the global fiducial markers market on the basis of type, modalities, application, end-user, and region:

Type Outlook (Revenue, USD Million; 2017-2027)

• Metal-Based Markers
• Polymer-Based Markers
• Others

Modalities Outlook (Revenue, USD Million; 2017-2027)

• Computed Tomography/Computer-Based Computed Tomography
• Magnetic Resonance Imaging
• Ultrasound
• Radiotherapy

Application Outlook (Revenue, USD Million; 2017-2027)

• Prostate cancer
• Lung Cancer
• Breast Cancer
• Gastric Cancer
• Others

End-User Outlook (Revenue, USD Million; 2017-2027)

• Hospitals
• Radiotherapy Centers
• Academic Research Centers

Key Regional Markets Covered in the Fiducial Markers Market Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Frequently Asked Questions Addressed in the Report:

• What is the forecast size and revenue growth rate of the global Fiducial Markers market?
• What are the leading products offered by the global Fiducial Markers market players?
• What are the key drivers and restraints for the global Fiducial Markers market growth?
• Which regional market is expected to register the highest CAGR over the forecast period?
• What are the outcomes of the report’s SWOT and Porter’s Five Forces analyses?

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