The global fiducial markers market is expected to reach USD 142.0 million by 2027 with a CAGR of 4.2% according to the new report by Grand View Research, Inc. Growing prevalence of cancer and increase in adoption of radiotherapy is expected to pump the market growth. Rise in number of fiducial markets is thereby expected to boost the market demand.
Fiducial markers is employed for prostate cancer owing to the rising prevalence of the disease and high precision. Also, it is been perceived as an effective tool for patient care and early diagnosis of tumor by a radiation therapist. In the healthcare sector, there has been a wide use of fiducial markers for diagnosis and treatments. Increasing awareness pertaining to the various techniques of radiotherapy is anticipated to enhance the adoption of fiducial markers. There is a significant increase in population with brain disorders wherein radiotherapy helps with the problem detection and enables the therapists to advise therapy based medication to the patients. The markers help in locating the tumor location with high precision and allows the radiation dose to the affected parts.
In the last few decades, fiducial markers have become reliable for tumor detection and have also added enhanced features of radiotherapy. A dot pattern scheme enables robustness for large occlusions.
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On the backdrop of covid-19, Masachussets General Hospital explained the importance of treatment of cancer as frontline workers in healthcare are entirely serving covid affected patients. Cancer being a high priority disease can avail treatments through video conference or teleconsultation and prevent normal visits for patients with mild treatments. In case cancer patients visit the hospital, essential precautions have been taken from the hospital management.
Further findings from the report suggest:
l Based on products, the fiducial markers market can be segmented as gold, gold combination, liqiud, other metals, and polymer. Gold segment accounts for a significant share due to high visibility and versatility of the end-use products
l Companies are investing in the R&D for various designs and resulting in products with a high efficiency
l CT/CBCT segment held a large share in 2019 owing to technological integration, imaging features, and complying with radiotherapy equipment
l North America accounted for a significant growth in the past few years and will continue to retain its expansion based on the rise in number of radiotherapy driven by cancer cases
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Major Key Players:
l CIVCO Radiotherapy
l IZI Medical Products LLC
l IBA Dosimetry GmbH
l Boston Scientific Corporation
l Naslund Medical AB
l Medtronic Plc
l Eckert & Ziegler
Rising awareness about the safety and efficiency of advanced radiotherapy techniques, such as stereotactic radiosurgery, intensity-modulated radiotherapy, and image guide radiotherapy, in cancer treatment is expected to boost the market growth. Moreover, several initiatives undertaken by various governments for the development of new radiotherapy centers through direct funding or tax waive-off will aid in market growth.
On the other hand, availability of alternative treatment methods, such as chemotherapy, hormonal therapy, and surgery, is expected to have a negative impact on the product demand. Furthermore, with the advent of advanced imaging modalities, such as PET-based LINAC system, eliminates the need for fiducial markers hampering the market growth. However, high cost of PET-based LINAC systems is expected to contribute to the increased usage of fiducial markers for radiotherapy.
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Grand View Research has segmented the global fiducial markers market on the basis of product, modality, application, end user:
Fiducial Markers Product Outlook (Volume, Units; Revenue, USD Million, 2016 – 2027)
- Gold Combination
- Other Metal
Fiducial Markers Modality Outlook (Revenue, USD Million, 2016 – 2027)
Fiducial Markers Application Outlook (Revenue, USD Million, 2016 – 2027)
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Head and Neck Cancer
Fiducial Markers End User Outlook (Revenue, USD Million, 2016 – 2027)
- Radiotherapy Center
- Academic and Research Center
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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