NEW YORK, Feb. 2, 2021
NEW YORK, Feb. 2, 2021 /PRNewswire/ -- Award winning market research company Fact.MR has recently published an extensive coverage on the global fiducial markers market. According to the study, the market is poised to make significant progress in 2021, registering a positive annual growth. Growth for the next decade also appears positive, with Fact.MR projecting a CAGR exceeding 4% from 2021-2031.
The market is expected to ride on the coattails of increasing emphasis on advanced cancer research and treatment. The International Agency for Research on Cancer (IARC) estimates that globally, 1 in 5 people develop cancer during their lifetime, with over 12% of men and 9% of women succumbing to the disease. Furthermore, over 50 million people currently live within five years of a past diagnosis. Hence, efforts to bolster oncology research have registered an uptick, providing fertile ground for fiducial markers expansion.
Over the years, fiducial markers have emerged as the gold standard for image guided radiotherapy, prompting manufacturers to introduce new products into the global market. As governments in emerging countries bolster efforts to improve healthcare access, the scope for fiducial markers is poised to enhance in forthcoming years. Studies suggest that the number of patients expected to benefit from radiotherapy range from 40-62%. Demand is slated to remain especially high amongst older patients with solid tumors.
The Global Taskforce on Radiotherapy for Cancer Control (GTFRCC) discovered that by 2035, nearly 12 million cancer patients would benefit from radiotherapy, with the potential to save 950,000 lives and help control cancer for 2.5 million people globally.
"Cutting-edge technology penetration has led to prolific advancements in fiducial markers, with manufacturers effectively leveraging advancements such as precision based imaging to assist healthcare providers in achieving higher accuracy in oncology treatment procedures," says the Fact.MR analyst.
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Key Takeaways from Fact.MR's Fiducial Markers Study
Key fiducial markers manufacturers profiled in Fact.MR's report include Eckert & Zieglar BEBIG, Innovative Oncology Solutions, Boston Scientific, IBA, Best Medical International Inc., IZI Medical Products, Carbon Medical Technologies, CIVCO, AlphaXRT, Nanovi A/S and Stellar Medical. Players are attempting to establish a firm footing by diversifying existing portfolios through new product launches and other inorganic strategies.
In 2018, Boston Scientific introduced the LumiCoil Platinum Fiducial Markers featuring platinum construction designed for clear visibility in CT, X-Ray, EUS, CBCT and MRI procedures. This device has immensely helped achieve precision in radiation delivery, leaving healthy tissues undamaged.
In March 2020, Nanovi A/S earned the CE mark for its BioXmark® novel liquid fiducial marker intended for marking soft body tissues for enhanced visibility on medical imaging, thus facilitating high precision radiation therapy. It consists of an adhesive-like iodine-based soft marker for adaptability to surrounding tissues, positional stability and visibility on relevant imaging modalities.
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More Valuable Insights on Fiducial Markers Market
In the latest report by Fact.MR, we offer an unbiased analysis of the global fiducial markers market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (metal-based, polymer-based, and others) and cancer type (lung cancer, breast cancer, prostate cancer, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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