Fiducial Markers Market Growing at a CAGR of 4.5% – Geographical Analysis and Leading Key Players

PUNE, India, 2021-Aug-25 — /EPR Network/ —

The Key Growth Elements in Detailed?

The growth of Fiducial Markers Market is mainly attributed to factors such as the growing incidence of cancer, rising awareness on radiotherapy, and funding for cancer as well as fiducial marker research. In addition, the modernization of healthcare infrastructure and rising penetration of healthcare insurance in developing countries is expected to further fuel the growth of the market in the near future.

Worldwide Growth Opportunities in Terms of Revenue:

The Fiducial Markers Market is projected to USD 123 million by 2025 from USD 95 million in 2019, at a CAGR of 4.5% during the forecast period of 2019 to 2025.

Prostate cancer commanded the leading market share due to the rising preference for radiotherapy treatment

By cancer type, the fiducial markers market is segmented into prostate cancer, lung cancer, breast cancer, gastric cancer, and others. The prostate cancer segment is expected to dominate the market. The ongoing modernization and expansion of healthcare infrastructure, growing medical tourism, and improving research capabilities are expected to improve radiotherapy accessibility, further supporting market growth.

The hospitals & outpatient facilities end-user segment garnered the highest revenue.

The end users of fiducial markers include hospitals & outpatient facilities, independent radiotherapy centers, and cancer research centers. As FM placement around tumors is generally a noncritical procedure, it is typically performed in outpatient settings seven days before radiotherapy. This has ensured a sustained demand for the services of such facilities. In addition, the growing adoption of EBRT procedures (that utilize FMs for tumor localization) and the development & modernization of healthcare facilities are supporting the growth of this segment.

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Regional Growth, Development and Demand Analysis:

The fiducial markers market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is projected to hold the largest share of the regional market for fiducial markers in 2019. This is attributed to the expansion of the target patient population, favorable reimbursement scenario, greater accessibility to radiotherapy procedures, and the presence of major players in this region.

Major Key Players Mentioned in the research report are:

The major players in the market include CIVCO Radiotherapy (US), IZI Medical Products (US), Boston Scientific Corporation (US), Naslund Medical AB (Sweden), and IBA (Belgium). Other players are Best Medical International, Inc. (US), Nanovi A/S (Denmark), Carbon Medical Technologies (US), Eckert & Ziegler (Germany), Innovative Oncology Solutions (US), Medtronic (Ireland), and QFIX (US).

An analysis of the market developments between 2016 and 2019 shows that product launches, acquisitions, expansions, collaborations, partnerships, and agreements were the most widely adopted growth strategies in the market.

CIVCO Radiotherapy (US) dominated t­he global fiducial markers market in 2019. Its strong product portfolio and high geographic penetration are the ­key factors contributing to the leading position of this company in the market. In order to maintain its dominant position, the company develops both metal-based as well as polymer-based fiducial markers, such as FusionCoil, PolyMark, FlexiCoil, Align, and PointCoil. The company is also focusing on increasing its presence in developing countries to leverage high-growth opportunities.

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