Fiducial Markers Market Growing at a CAGR of 4.5% – Recent Developments and Leading Key Players

PUNE, India, 2021-Oct-05 — /EPR Network/ — According to the new market research report “Fiducial Markers Market by Product (Metal Based Markers (Gold, Gold Combination) Polymer Markers), Cancer Type (Prostate, Lung, Breast), Modality (CT, CBCT, MRI, Ultrasound), End user (Hospitals, Outpatient Facilities) – Global Forecast to 2025″, published by MarketsandMarkets™, the Metal-Based Fiducial Markers Market is projected to reach USD 123 million by 2025 from USD 95 million in 2019, at a CAGR of 4.5% from 2019 to 2025.

Recent Developments:

– In 2019, Stratpharma AG (Switzerland) expanded its agreement with CIVCO (US) to distribute CIVCO’s radiotherapy solutions globally

– In 2019, IZI Medical Products (US) acquired the RadioMed division of IBA (Belgium), which manufactures the VISICOIL implantable fiducial markers

– In 2018, Nanovi A/S (Denmark) secured USD 2.23 million from existing investors to expand its business and introduce BioXmark in the European market

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The Asia Pacific is expected to register significant growth over the forecast period owing to the rising patient pool

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.

The major players in the Metal-Based Fiducial Markers 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).

CIVCO Radiotherapy (US): In 2018, 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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The metal-based FMs product segment to register significant growth over the forecast period

Based on product, the Fiducial Markers Market is classified into metal-based markers, polymer-based markers, and others. The metal-based markers segment is expected to register significant growth over the forecast period of 2019 to 2025. The adoption of radiotherapy has increased in recent years due to its advantages, such as high precision & radiation control, reduced risk of side-effects, and minimal exposure of healthy tissues to radiation. As metal-based FMs are widely preferred for tumor localization, the rising adoption of radiotherapy procedures is expected to support market growth.

The CT/CBCT modality segment is projected to hold the largest share of the market during the forecast period.

On the basis of modality, the Fiducial Markers Market is classified into CT/CBCT, MRI, ultrasound, and radiotherapy. CBCT is preferred for prostate and lung cancer indications, as it effectively detects changes in the position of cancer tumors. Thus, the rising incidences of prostate & lung cancer and the widespread use of CBCT in most developed countries for cancer diagnosis and treatment are the key factors driving the segment growth.

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