Fiducial Markers Market To Reach USD 127.3 Million By 2027 | Reports And Data

Fiducial Markers Market To Reach USD 127.3 Million By 2027 | Reports And Data

PR Newswire

NEW YORK, Aug. 31, 2020

- Rising occurrence of cancer is one of the significant factors influencing the market growth.

- Market Size – USD 90.6 Million in 2019, Market Growth - CAGR of 4.3%, Market Trends – Increasing investment in cancer research

NEW YORK, Aug. 31, 2020 /PRNewswire/ --  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.

Reports And Data

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, as well as the general public, would positively impact cancer survival rate and hence would be instrumental in increasing the market demand. The American Cancer Society estimates 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.

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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.

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. Still, firms in the pharmaceutical industry are crucial in combatting the pandemic and are registering positive growth in the backdrop of the contagious disease and the race for gaining treatment approval therapy. 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.

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Further key findings from the report suggest

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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)

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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