Fiducial Markers Market to Reach USD 127.3 Million By 2027
The Global Fiducial Markers Market is assessed to expand at a CAGR of 4.3% from 2020 to 2027 to reach a valuation of USD 127.3 Million by 2027-end from an estimated value of USD 90.6 Million in 2019. The market is primarily gaining traction due to the increased usage of radiation therapy for treatment and screening of numerous chronic health conditions. Fiducial markers have extensive use in image-guided radiotherapy procedures, where the markers are placed with the help of an endoscope.
The fiducial markers are ideal for locating a tumour, which helps radiologists to provide maximum radiation dosage to targeted tissues. The fiducial markers are finding more comprehensive applications in stereotactic radiosurgery for the treatment of diseases and chronic health conditions, which is estimated to drive growth of the market.
One of the key factors influencing the growth of the market positively is swelling prevalence of deadly diseases such as brain tumours and Parkinson’s diseases, which is fueling demand for advanced and improved radiology for treatment as well as screening. In 2018, cancer was the second foremost cause of death globally, marking almost 9.6 million deaths. Thus, the early screening of diseases has a key role in the treatment; increasing awareness among people regarding early screening of diseases is propelling the demand for advanced technologies. This is one of the key factors driving growth of the fiducial markers market substantially.
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According to the CBTRUS Statistical Report: Primary Brain and Other Central Nervous System Tumors Diagnosed in the United States in 2012-2016 (January 2020), brain and other nervous system cancer is the 10th leading cause of death and is estimated to claim 18,020 adults in 2020. Additionally, around 24,000 adults in the US alone undergone cancer and tumour screening processes. Such factors are boosting the adoption of treatments and screening options, which is fuelling fiducial markers market growth. However, the higher cost involved in the treatments coupled with undefined government reimbursement policies is restraining growth of the market.
The demand for advanced markers is increasing from the past few years is boosting further investment for the development of advanced navigation system. For instance, Veran Medical Technologies introduced SPiN System, an advanced navigation technology by helps locate the target to place. Such newer products are estimated to drive market growth and create several opportunities in the market.
Regionally, the market is dominated by North America in terms of revenue and market share in 2019 and is estimated to expand exhibiting growth rate of 3.9% by the end of the projection period. The growth of fiducial markers market is attributable to the factors such as the rising prevalence of types of cancers, increasing investments for research and developments (R&D) activities, presence of larger players in the market, and rising adoption of personalized medicine from the region.
The European market acquired a second-largest share in fiducial markers market in 2019 and is estimated to expand with the growth rate of 4.1% over the forecast period. This growth is due to increasing investment for the adoption of the advanced healthcare infrastructure in the region.
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Key participants in the fiducial markers market include:
Naslund Medical AB
Boston Scientific Corporation
Carbon Medical Technologies
IZI Medical Products
Innovative Oncology Solutions
Eckert & Ziegler
Fiducial Markers Market: Segmentation
For the purpose of this report, Reports And Data has segmented the global fiducial markers market based on the type, modalities, application, end-user, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
Modalities Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
End-User Outlook (Revenue, USD Million; 2017-2027)
Regional Outlook (Revenue, USD Million; 2017-2027)
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