Report Overview

Global Fiducial Markers Market– Industry Trends & Forecast Report 2027

The global fiducial markers market was worth USD 100.1 million in 2020 and is further projected to reach USD 137.5million by the year 2027, growing at the CAGR of 4.8% in the forecast period. The market is expanding rapidly as a result the rising prevalence of cancers such as lung, breast, prostate, gastric, and others, as well as the increased use of radiation therapy in oncology treatment.Furthermore, the global fiducial markers market would be propelled by increasing technological advancements in healthcare facilities.

Source: BlueWeave Consulting

Global Fiducial Markers Market- Overview

The fiducial markers are grain-size metal objects which are used as an imaging guidance during radiation therapy to pinpoint the exact location of the tumor.It is made up to metal, generally gold. Some fiducial markers are also made of polymer or carbon. Placement of a fiducial marker may require imaging equipment such as CT scans or ultrasounds, as well as the use of an endoscope. Though these markers are widely used in cancer treatments, they can also be applied to a variety of other areas, such as in medical imaging, metrology, augmented reality, and genetic testing.

Global Fiducial Markers Market Forecast and Trends

Growth Drivers

Increasing Prevalence of Cancer

With the increasing frequency of various types of cancer all over the world, the use of radiation therapy for treatment is also on the rise, driving up demand for fiducial markers.The International Agency for Research on Cancer (IARC) released its updated Globocan 2020 report in December 2020, indicating a rise of 19.3 million cancer cases and a ten-million cancer death toll for 2020.Furthermore, especially in developing and low-income nations, there is still a big gap between cancer patients and diagnoses. As a result, the fiducial markers have a lot of room for growth over the forecast period.

Surging Use of Radiotherapy and Medical Imaging Procedures

Radiotherapy or radiation therapy is the most common and widely used method for cancer treatment, which is used for killing cancer cells and tumors. This factor will further fuel the demand for fiducial markers as it is a major equipment required during radiation therapy. Additionally, cancer diagnoses are increasing at a high rate because of the use of various medical imaging procedures such as CT scan, X-ray, MRI, and ultrasound.Due to this, the global fiducial markers market is estimated to gain significant traction.

Restraints

Availability of Radiation Therapy Alternatives

Fiducialmarkersare used to ensure that each radiation treatment is precisely aligned with the target. However, radiation therapy can also cause several side effects such as baldness, hair loss, fatigue, etc.As a result, radiation therapy is often replaced with alternatives.One such therapy is proton therapy, which uses atomic particles charged positively to treat cancer.An increase in the use of other alternatives to radiation therapy could hinder the growth of fiducial markers during the forecast period.

Impact of COVID-19 on Global Fiducial Markers Market

COVID-19 is having a severe effect on the global market for fiducial markers.This is because of the sharp decline in the demand for fiducial markers post the declaration of the nationwide lockdowns to curb the spread of the deadly coronavirus. Researchers have found that the number of cancer screenings reduced by 85% since the COVID-19 was declared a pandemic by the WHO.Consequently, the demand for fiducial markers declined as well. Nevertheless, the post-COVID-19 period will be more lucrative in fulfilling the gap between diagnosis and patients with curable cancer.

Global Fiducial Markers Market - By Product

Based on products, the global fiducial markers market is segmented into metal-based markers, polymer-based markers, and other fiducial markers. Among these, the metal-based market holds the largest market share. This segment is further classified into pure gold markers, gold combination markers, and other metal-based markers. At present, pure gold markers enjoy considerable market demand since they target the tumor more accurately, which allows doctors to administer higher radiation doses without causing damage to adjacent tissues.

Global Fiducial Markers Market - By Modality

Based on modalities, the global fiducial markers market is categorized into CT/CBCT, MRI,radiotherapy, and ultrasound. The CT/CBCT segment accounts for the largest market share.CT/CBCT are used frequently for lung cancer diagnosis and offer many benefits including lower radiation doses, lower costs, fewer space requirements, easier image recognition, and interactive displays. However, the ultrasound modality is estimated to witness a higher CAGR during the forecast period.

Global Fiducial Markers Market - Regional Insights

Geographically, the global fiducial markers market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America accounts for the largest market share, followed by Europe. Fiducial markers are in big demand in the region due to the strong presence of leading market players in countries such as the US. Moreover, favorable reimbursement policies are also driving the growth of the fiducial markers market in the North American region.The market share of Europe is also significant because breast and colorectal cancer are becoming more prevalent in the region and people are more aware of early diagnosis.

Competitive Landscape

The leading market players in the global fiducial markers market are Nanovi A/S, Carbon Medical Technologies, IZI Medical Products, Innovative Oncology Solutions, Naslund Medical AB, Qfix, CIVCO Radiotherapy, Varian Medical Systems, Inc., Stellar Medical, Eckert & Ziegler, Gold Anchor, JJ-Medtech, Boston Scientific Corporation, Medtronic, Beekley Corporation, QLRAD, Meditronix Corporation, Best Medical International, Inc., and other prominent players.

To obtain a competitive advantage, market players strive to incorporate new technologies and innovations into their products.The companies also adopt competitive strategies like partnerships, mergers, and acquisitions, collaborations, etc. to expand their product portfolio and increase their market penetration. For instance, in 2019, IZI Medical Products LLC, a leading radiology medical device company acquired RadioMed, the manufacturer of VISICOIL implantable fiducial marker, from its parent company IBA S.A.

Recent Developments in the Global Fiducial Markers Market

• In June 2021, Navigation Sciences, a US-based clinical-stage company, announced the commencement of the first-in-human clinical feasibility trial of its NaviSci^tm System for tissue-conserving removal of early-stage lung tumors. This system consists of several components like a fiducial marker, surgical cutting instrument, etc.
• In January 2021, C4 Imaging LLC, a US-based medical device company, announced to have received FDA 510(k) clearance for the use of C4 imaging’s Serious positive-signal MRI Markers with Isoray’s Cesium-131, brachytherapy seeds.

Scope of the Report

By Product

• Metal-Based Markers

1. Pure Gold Markers
2. Gold Combination Markers
3. Other Metal-Based Markers

• Polymer-Based Markers
• Other Fiducial Markers

By Modality

• CT/CBCT
• MRI
• Radiotherapy
• Ultrasound

By Type

• Lung Cancer
• Gastric Cancer
• Prostate Cancer
• Breast Cancer
• Other Cancers

By End-User

• Hospitals & Outpatient Facilities
• Independent Radiotherapy Centers
• Cancer Research Centers

By Region

• North America
• Europe
• Asia-Pacific (APAC)
• Latin America (LATAM)
• Middle-East & Africa (MEA)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Increasing Prevalence of Cancer
         2. Surging Use of Radiotherapy and Medical Imaging Procedures
      2. Market Restraints
         1. Availability of Radiation Therapy Alternatives
      3. Market Challenges
         1. Negative Influence of the COVID-19 Outbreak
      4. Market Opportunity
         1. Expanding Cancer Research Activities
         2. Growing Breast Cancer Prevalence
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Global Fiducial Markers Market Overview
   1. Market Estimates & Forecast by Value, 2017-2027
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Product
         1. Metal-Based Markers
            1. Pure Gold Markers
            2. Gold Combination Markers
            3. Other Metal-Based Markers
         2. Polymer-Based Markers
         3. Other Fiducial Markers
      2. By Modality
         1. CT/CBCT
         2. MRI
         3. Radiotherapy
         4. Ultrasound
      3. By Type
         1. Lung Cancer
         2. Gastric Cancer
         3. Prostate Cancer
         4. Breast Cancer
         5. Other Cancers
      4. By End-User
         1. Hospitals & Outpatient Facilities
         2. Independent Radiotherapy Centers
         3. Cancer Research Centers
      5. By Region
         1. North America
         2. Europe
         3. Asia-Pacific (APAC)
         4. Latin America (LATAM)
         5. Middle-East & Africa (MEA)
6. North America Fiducial Markers Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2017-2027
   2. Market Share and Forecast
      1. By Product
      2. By Modality
      3. By Type
      4. By End-User
      5. By Country
         1. U.S.
         2. Canada
7. Europe Fiducial Markers Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2017-2027
   2. Market Share and Forecast
      1. By Product
      2. By Modality
      3. By Type
      4. By End-User
      5. By Country
         1. Germany
         2. U.K.
         3. France
         4. Italy
         5. Spain
         6. Russia
         7. Netherlands
         8. Rest of Europe
8. APAC Fiducial Markers Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2017-2027
   2. Market Share and Forecast
      1. By Product
      2. By Modality
      3. By Type
      4. By End-User
      5. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM Fiducial Markers Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2017-2027
   2. Market Share and Forecast
      1. By Product
      2. By Modality
      3. By Type
      4. By End-User
      5. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA Fiducial Markers Market Overview
    1. Market Size and Forecast
       1. By Value (USD Million), 2017-2027
    2. Market Share and Forecast
       1. By Product
       2. By Modality
       3. By Type
       4. By End-User
       5. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking By Operating Parameters
12. Impact of COVID-19 on Global Fiducial Markers Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Nanovi A/S
    2. Carbon Medical Technologies
    3. IZI Medical Products
    4. Innovative Oncology Solutions
    5. Naslund Medical AB
    6. Qfix
    7. CIVCO Radiotherapy
    8. Varian Medical Systems, Inc.
    9. Stellar Medical
    10. Eckert & Ziegler
    11. Gold Anchor
    12. JJ-Medtech
    13. Boston Scientific Corporation
    14. Medtronic
    15. Beekley Corporation
    16. QLRAD
    17. Meditronix Corporation
    18. Best Medical International, Inc.
    19. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1: Global Fiducial Markers Market Segmentation

Figure 2: Global Fiducial Markers Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: Global Fiducial Markers Market Size, By Value (USD Million), 2017-2027

Figure 5: Global Fiducial Markers Market Share (%), By Product, By Value, 2017-2027

Figure 6: Global Fiducial Markers Market Share (%), By Modality, By Value, 2017-2027

Figure 7: Global Fiducial Markers Market Share (%), By Type, By Value, 2017-2027

Figure 8: Global Fiducial Markers Market Share (%), By End User, By Value, 2017-2027

Figure 9: Global Fiducial Markers Market Share (%), By Region, By Value, 2017-2027

Figure 10: North America Fiducial Markers Market Size, By Value (USD Million), 2017-2027

Figure 11: North America Fiducial Markers Market Share (%), By Product, By Value, 2017-2027

Figure 12: North America Fiducial Markers Market Share (%), By Modality, By Value, 2017-2027

Figure 13: North America Fiducial Markers Market Share (%), By Type, By Value, 2017-2027

Figure 14: North America Fiducial Markers Market Share (%), By End User, By Value, 2017-2027

Figure 15: North America Fiducial Markers Market Share (%), By Country, By Value, 2017-2027

Figure 16: Europe Fiducial Markers Market Size, By Value (USD Million), 2017-2027

Figure 17: Europe Fiducial Markers Market Share (%), By Product, By Value, 2017-2027

Figure 18: Europe Fiducial Markers Market Share (%), By Modality, By Value, 2017-2027

Figure 19: Europe Fiducial Markers Market Share (%), By Type, By Value, 2017-2027

Figure 20: Europe Fiducial Markers Market Share (%), by End User, By Value, 2017-2027

Figure 21: Europe Fiducial Markers Market Share (%), By Country, By Value, 2017-2027

Figure 22: Asia-Pacific Fiducial Markers Market Size, By Value (USD Million), 2017-2027

Figure 23: Asia-Pacific Fiducial Markers Market Share (%), By Product, By Value, 2017-2027

Figure 24: Asia-Pacific Fiducial Markers Market Share (%), By Modality, By Value, 2017-2027

Figure 25: Asia-Pacific Fiducial Markers Market Share (%), By Type, By Value, 2017-2027

Figure 26: Asia-Pacific Fiducial Markers Market Share (%), By End User, By Value, 2017-2027

Figure 27: Asia-Pacific Fiducial Markers Market Share (%), By Country, By Value, 2017-2027

Figure 28: Latin America Fiducial Markers Market Size, By Value (USD Million), 2017-2027

Figure 29: Latin America Fiducial Markers Market Share (%), By Product, By Value, 2017-2027

Figure 30: Latin America Fiducial Markers Market Share (%), By Modality, By Value, 2017-2027

Figure 31: Latin America Fiducial Markers Market Share (%), By Type, By Value, 2017-2027

Figure 32: Latin America Fiducial Markers Market Share (%), By End User, By Value, 2017-2027

Figure 33: Latin America Fiducial Markers Market Share (%), By Country, By Value, 2017-2027

Figure 34: Middle East & Africa Fiducial Markers Market Size, By Value (USD Million), 2017-2027

Figure 35: Middle East & Africa Fiducial Markers Market Share (%), By Product, By Value, 2017-2027

Figure 36: Middle East & Africa Fiducial Markers Market Share (%), By Modality, By Value, 2017-2027

Figure 37: Middle East & Africa Fiducial Markers Market Share (%), By Type, By Value, 2017-2027

Figure 38: Middle East & Africa Fiducial Markers Market Share (%), By End User, By Value, 2017-2027

Figure 39: Middle East & Africa Fiducial Markers Market Share (%), By Region, By Value, 2017-2027

List of Tables

Table 1: Global Fiducial Markers Market Size, By Product, By Value, 2017-2027

Table 2: Global Fiducial Markers Market Size, By Modality, By Value (USD Million), 2017-2027

Table 3: Global Fiducial Markers Market Size, By Type, By Value (USD Million), 2017-2027

Table 4: Global Fiducial Markers Market Size, By End User, By Value (USD Million), 2017-2027

Table 5: Global Fiducial Markers Market Size, By Region, By Value (USD Million), 2017-2027

Table 6: North America Fiducial Markers Market Size, By Product, By Value (USD Million), 2017-2027

Table 7: North America Fiducial Markers Market Size, By Modality, By Value (USD Million), 2017-2027

Table 8: North America Fiducial Markers Market Size, By Type, By Value (USD Million), 2017-2027

Table 9: North America Fiducial Markers Market Size, By End User, By Value (USD Million), 2017-2027,

Table 10: Europe Fiducial Markers Market Size, By Product, By Value (USD Million), 2017-2027

Table 11: Europe Fiducial Markers Market Size, By Modality, By Value (USD Million), 2017-2027

Table 12: Europe Fiducial Markers Market Size, By Type, By Value (USD Million), 2017-2027

Table 13: Europe Fiducial Markers Market Size, By End User, By Value (USD Million), 2017-2027

Table 14: the Asia-Pacific Fiducial Markers Market Size, By Product, By Value (USD Million), 2017-2027

Table 15: the Asia-Pacific Fiducial Markers Market Size, By Modality, By Value (USD Million), 2017-2027

Table 16: the Asia-Pacific Fiducial Markers Market Size, By Type, By Value (USD Million), 2017-2027

Table 17: the Asia-Pacific Fiducial Markers Market Size, By End User, By Value (USD Million), 2017-2027

Table 18: Latin America Fiducial Markers Market Size, By Product, By Value (USD Million), 2017-2027

Table 19: Latin America Fiducial Markers Market Size, By Modality, By Value (USD Million), 2017-2027

Table 20: Latin America Fiducial Markers Market Size, By Type, By Value (USD Million), 2017-2027

Table 21: Latin America Fiducial Markers Market Size, By End User, By Value (USD Million), 2017-2027

Table 22: The Middle-East & Africa Fiducial Markers Market Size, By Product, By Value (USD Million), 2017-2027

Table 23: The Middle-East & Africa Fiducial Markers Market Size, By Modality, By Value (USD Million), 2017-2027

Table 24: The Middle-East & Africa Fiducial Markers Market Size, By Type, By Value (USD Million), 2017-2027

Table 25: The Middle-East & Africa Fiducial Markers Market Size, By End User, By Value (USD Million), 2017-2027

Table 26: Nanovi A/S Financial Analysis

Table 27: Nanovi A/S Business Overview

Table 28: Carbon Medical Technologies Financial Analysis

Table 29: Carbon Medical Technologies Business Overview

Table 30: IZI Medical Products Financial Analysis

Table 31: IZI Medical Products Business Overview

Table 32: Innovative Oncology Solutions Financial Analysis

Table 33: Innovative Oncology Solutions Business Overview

Table 34: Naslund Medical AB Financial Analysis

Table 35: Naslund Medical AB Business Overview

Table 36: Qfix Financial Analysis

Table 37: Qfix Business Overview

Table 38: CIVCO Radiotherapy Financial Analysis

Table 39: CIVCO Radiotherapy Business Overview

Table 40: Varian Medical Systems, Inc. Financial Analysis

Table 41: Varian Medical Systems, Inc.Business Overview

Table 42: Stellar Medical Financial Analysis

Table 43: Stellar Medical Business Overview

Table 44: Eckert & Ziegler Financial Analysis

Table 45: Eckert & Ziegler Business Overview

Table 46: Gold Anchor Financial Analysis

Table 47: Gold Anchor Financial Analysis

Table 48: JJ-MedtechFinancial Analysis

Table 49: JJ-MedtechBusiness Overview

Table 50: Boston Scientific CorporationFinancial Analysis

Table 51: Boston Scientific CorporationBusiness Overview

Table 52: MedtronicFinancial Analysis

Table 53: MedtronicBusiness Overview

Table 54: Beekley CorporationFinancial Analysis

Table 55: Beekley CorporationBusiness Overview

Table 56: QLRADFinancial Analysis

Table 57: QLRADBusiness Overview

Table 58: Meditronix CorporationFinancial Analysis

Table 59: Meditronix CorporationBusiness Overview

Table 60: Best Medical International, Inc.Financial Analysis

Table 61: Best Medical International, Inc.Business Overview