(PharmaNewsWire.Com, August 22, 2020 ) The study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
According MarketsandMarkets Research - 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.
Market Size Estimation:
Market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (segmental analysis of major segments) and top-down approach (assessment of utilization/adoption/penetration trends, by product, cancer type, modality, end user, and region).
Data Triangulation:
After arriving at the market size, the fiducial markers market was divided into several segments and subsegments. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at exact statistics for all segments & subsegments, wherever applicable.
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.
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.
The fiducial markers market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific market is expected to be the fastest-growing region owing to improvements in healthcare infrastructure and supportive government initiatives. In addition, the growing incidence of cancer and the rising acceptance of radiotherapy procedures are propelling market growth. However, a dearth of skilled and experienced oncologists in developing countries and the slow adoption of advanced technologies are restraining the growth of the market.
Key Market Players:
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 in the market are Best Medical International, Inc. (US), Nanovi A/S (Denmark), Carbon Medical Technologies (US), Eckert & Ziegler (Germany), Innovative Oncology Solutions (US), Medtronic (Ireland), QlRad Inc. (US), JJ-Medtech (Netherlands), 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.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
