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Fiducial Markers Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 122
  • SKU: IRTNTR73415
Technavio

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According to Technavio's analyst, the fiducial markers market size is expected to be valued at USD 36.5 million by 2026 with a progressing CAGR of 5.66%.

This fiducial markers market forecast report extensively covers segmentations by:

  • End-user - Hospitals and outpatient facilities, independent radiotherapy centers, and cancer research centers
  • Geography - North America, Europe, Asia, and Rest of World (ROW)

This fiducial markers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The fiducial markers market report offers information on several market vendors, including alphaXRT Pty. Ltd., Beekley Corp., Best Medical International Inc., Boston Scientific Corp., Carbon Medical Technologies Inc., CP Medical, Eckert and Ziegler AG, Innovative Oncology Solutions, IZI Medical Products, MediTron, MedTec Inc., Medtronic Plc, Nanovi AS, Naslund Medical AB, Oncology Systems Ltd., Qfix, QLRAD INC USA, Riverpoint Medical, SeeDOS Ltd., and Stellar Medical among others.

What will the Fiducial Markers Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Fiducial Markers Market Size for the Forecast Period and Other Important Statistics

Who are the Major Fiducial Markers Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • alphaXRT Pty. Ltd.
  • Beekley Corp.
  • Best Medical International Inc.
  • Boston Scientific Corp.
  • Carbon Medical Technologies Inc.
  • CP Medical
  • Eckert and Ziegler AG
  • Innovative Oncology Solutions
  • IZI Medical Products
  • MediTron
  • MedTec Inc.
  • Medtronic Plc
  • Nanovi AS
  • Naslund Medical AB
  • Oncology Systems Ltd.
  • Qfix
  • QLRAD INC USA
  • Riverpoint Medical
  • SeeDOS Ltd.
  • Stellar Medical

 

This statistical study of the fiducial markers market encompasses successful business strategies deployed by the key vendors. The fiducial markers market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Bostonscientific.com - The company offers fiducial markers under the brand name LumiCoil, which features platinum construction designed for clear visibility in CT, X-Ray, EUS, CBCT, and MRI procedures.
  • Ezag.com - The company offers fiducial markers to improve image coregistration in sequential scans with standalone scanners of different modalities, or for anatomical or position marking with visibility in both images of a hybrid scanner.
  • Izimed.com - The company offers fiducial markers that can be used in IMRT, CRT, and IGRT treatment to provide real time, accurate localization of the treatment volumes.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The fiducial markers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Fiducial Markers Market?

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37% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the fiducial markers market in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).

The rising incidence of cancer in countries such as the US and Canada will facilitate the fiducial markers market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had a negative impact on the fiducial markers market growth. However, in the first half of 2021, the initiation of vaccination drives led to a gradual decrease in the number of COVID-19 cases. This has resulted in the lifting of lockdowns and the reopening of healthcare facilities and clinics, which has increased the demand for fiducial markers in the region and thereby driving the market growth.

Fiducial Markers Market: Key Drivers, Trends, and Challenges

The rising global incidence of cancer is notably driving the fiducial markers market growth, although factors such as the lack of adequate healthcare infrastructure in developing nations may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the fiducial markers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Fiducial Markers Market Driver

One of the key drivers supporting the fiducial markers market growth is the rising global incidence of cancer. Factors such as smoking, obesity, and a rise in the number of infections increase the incidence of cancers. For instance, as per the CDC, the number of cancers caused due to overweight, except breast and colorectal cancers, was expected to increase to 30%-40% by 2020. Fiducial marker placement uses imaging guidance to place small metal objects called fiducial markers in or near a tumor in preparation for radiation therapy. The fiducial markers help to highlight the location of a tumor with greater accuracy and enable doctors to deliver the maximum dosage of radiation to the tumor while minimizing the dose delivered to nearby healthy tissue. Thus, the rapidly rising incidence of cancer across the world will drive the growth of the fiducial markers market during the forecast period. 

Key Fiducial Markers Market Trend

One of the key fiducial markers market trends contributing to the market growth is the increase in research and development. Ongoing research in the field of molecular and cell biology has clarified the understanding of mechanisms such as gene silencing and RNAi. This has further led to the development of antisense and RNAi therapies for the treatment of genetic disorders, including cancer. There are a few antisense and RNAi-based therapies for cancer that are in the early phases of development. Some of the molecules have even reached the late stages of development. For instance, TheraSphere is a treatment option in a new field of cancer care called interventional oncology, in which the diagnosis, treatment, and palliation of the disease are performed through advanced imaging and minimally invasive techniques. Such developments will propel the fiducial markers market growth during the forecast period.

Key Fiducial Markers Market Challenge

One of the challenges limiting the fiducial markers market growth is the lack of adequate healthcare infrastructure in developing nations. Only a limited number of healthcare institutions in underdeveloped and developing countries can use advanced radiotherapy systems for cancer treatment. This limits the number of radiotherapy and chemotherapy procedures despite their high demand. For instance, in 2021, more than 1.3 million new patients were diagnosed with cancer, and over 850,000 patients die of the disease annually in India. The mortality to incidence ratio for cancer in India is much higher than in high-income countries (HIC), with cancer contributing to 8% of adult deaths. Thus, the lack of proper diagnosis of cancer in developing and underdeveloped countries is expected to limit the adoption of fiducial markers, which, in turn, will hinder the growth of the market during the forecast period. 

This fiducial markers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

What are the Revenue-generating End-user Segments in the Fiducial Markers Market?

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The fiducial markers market share growth by the hospitals and outpatients facilities segment will be significant during the forecast period. Large hospitals such as multispecialty hospitals and hospital groups work under government sponsorship or through funding from private entities. They have more than 500 hospital beds, allowing the accommodation of individuals within the locality. The sales of fiducial marker products in hospitals will increase due to the increased number of hospital admittance of people with cancer during the forecast period. This, in turn, is driving the fiducial markers market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the fiducial markers market size and actionable market insights on post COVID-19 impact on each segment.

Parent Market Analysis

Technavio categorizes the global fiducial markers market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the fiducial markers market during the forecast period.

Fiducial Markers Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the fiducial markers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Fiducial Markers Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.66%

Market growth 2022-2026

$ 36.5 million

Market structure

Fragmented

YoY growth (%)

5.13

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 37%

Key consumer countries

US, Canada, Germany, UK, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

alphaXRT Pty. Ltd., Beekley Corp., Best Medical International Inc., Boston Scientific Corp., Carbon Medical Technologies Inc., CP Medical, Eckert and Ziegler AG, Innovative Oncology Solutions, IZI Medical Products, MediTron, MedTec Inc., Medtronic Plc, Nanovi AS, Naslund Medical AB, Oncology Systems Ltd., Qfix, QLRAD INC USA, Riverpoint Medical, SeeDOS Ltd., and Stellar Medical

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Fiducial Markers Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive fiducial markers market growth during the next five years
  • Precise estimation of the fiducial markers market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the fiducial markers industry across North America, Europe, Asia, and Rest of World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of fiducial markers market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Hospitals and outpatient facilities - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Hospitals and outpatient facilities - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Hospitals and outpatient facilities - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Hospitals and outpatient facilities - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Hospitals and outpatient facilities - Year-over-year growth 2021-2026 (%)
    • 5.4 Independent radiotherapy centers - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Independent radiotherapy centers - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Independent radiotherapy centers - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Independent radiotherapy centers - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Independent radiotherapy centers - Year-over-year growth 2021-2026 (%)
    • 5.5 Cancer research centers - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Cancer research centers - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Cancer research centers - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Cancer research centers - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Cancer research centers - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 40: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 Asia - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Asia - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Asia - Year-over-year growth 2021-2026 (%)
    • 7.6 Rest of World (ROW) - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
    • 7.7 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.8 Germany - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.9 UK - Market size and forecast 2021-2026
      • Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Boston Scientific Corp.
              • Exhibit 89: Boston Scientific Corp. - Overview
              • Exhibit 90: Boston Scientific Corp. - Business segments
              • Exhibit 91: Boston Scientific Corp. - Key news
              • Exhibit 92: Boston Scientific Corp. - Key offerings
              • Exhibit 93: Boston Scientific Corp. - Segment focus
            • 10.4 Eckert and Ziegler AG
              • Exhibit 94: Eckert and Ziegler AG - Overview
              • Exhibit 95: Eckert and Ziegler AG - Business segments
              • Exhibit 96: Eckert and Ziegler AG - Key news
              • Exhibit 97: Eckert and Ziegler AG - Key offerings
              • Exhibit 98: Eckert and Ziegler AG - Segment focus
            • 10.5 IZI Medical Products
              • Exhibit 99: IZI Medical Products - Overview
              • Exhibit 100: IZI Medical Products - Product / Service
              • Exhibit 101: IZI Medical Products - Key offerings
            • 10.6 MedTec Inc.
              • Exhibit 102: MedTec Inc. - Overview
              • Exhibit 103: MedTec Inc. - Product / Service
              • Exhibit 104: MedTec Inc. - Key offerings
            • 10.7 Medtronic Plc
              • Exhibit 105: Medtronic Plc - Overview
              • Exhibit 106: Medtronic Plc - Business segments
              • Exhibit 107: Medtronic Plc - Key news
              • Exhibit 108: Medtronic Plc - Key offerings
              • Exhibit 109: Medtronic Plc - Segment focus
            • 10.8 Nanovi AS
              • Exhibit 110: Nanovi AS - Overview
              • Exhibit 111: Nanovi AS - Product / Service
              • Exhibit 112: Nanovi AS - Key offerings
            • 10.9 Naslund Medical AB
              • Exhibit 113: Naslund Medical AB - Overview
              • Exhibit 114: Naslund Medical AB - Product / Service
              • Exhibit 115: Naslund Medical AB - Key offerings
            • 10.10 Qfix
              • Exhibit 116: Qfix - Overview
              • Exhibit 117: Qfix - Product / Service
              • Exhibit 118: Qfix - Key offerings
            • 10.11 QLRAD INC USA
              • Exhibit 119: QLRAD INC USA - Overview
              • Exhibit 120: QLRAD INC USA - Product / Service
              • Exhibit 121: QLRAD INC USA - Key offerings
            • 10.12 Stellar Medical
              • Exhibit 122: Stellar Medical - Overview
              • Exhibit 123: Stellar Medical - Product / Service
              • Exhibit 124: Stellar Medical - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 125: Inclusions checklist
                • Exhibit 126: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 127: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 128: Research methodology
                • Exhibit 129: Validation techniques employed for market sizing
                • Exhibit 130: Information sources
              • 11.5 List of abbreviations
                • Exhibit 131: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The fiducial markers market growth will increase by $36.5 million during 2022-2026.
              The fiducial markers market is expected to grow at a CAGR of 5.66% during 2022-2026.
              Technavio has segmented the fiducial markers market by geographic (North America, Europe, Asia, and Rest of World (ROW)).
              alphaXRT Pty. Ltd., Beekley Corp., Best Medical International Inc., Boston Scientific Corp., Carbon Medical Technologies Inc., CP Medical, Eckert and Ziegler AG, Innovative Oncology Solutions, IZI Medical Products, MediTron, MedTec Inc., Medtronic Plc, Nanovi AS, Naslund Medical AB, Oncology Systems Ltd., Qfix, QLRAD INC USA, Riverpoint Medical, SeeDOS Ltd., Stellar Medical are a few of the key vendors in the fiducial markers market.
              North America will register the highest growth rate of 37.07% among the other regions. Therefore, the fiducial markers market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the fiducial markers market growth are:
              • Rising global incidence of cancer

                Cancer is a chronic condition characterized by abnormal and uncontrolled growth of the cells. The major etiological factors leading to cancer include genetic mutations, environmental factors such as tobacco smoking and pollution, and changing dietary patterns. The rising prevalence of these factors has directly contributed to the increased global incidence of cancer. As a result, cancer has become the second leading cause of death across the world. In 2020, there were 19.3 million new cancer cases and 10 million associated deaths across the worldwide.

                Cancers such as melanoma, prostate cancer, kidney cancer, liver cancer, lung cancer, breast cancer, uterine cancer, thyroid cancer, and bladder cancer mainly contribute to the increased number of new cancer cases globally. Factors such as smoking, obesity, and a rise in the number of infections increase the incidence of cancers. For instance, as per the CDC, the number of cancers caused due to overweight, except breast and colorectal cancers, was expected to increase to 30%-40% by 2020. Cancer can occur in any individual irrespective of age or gender. In the US, 89,500 adolescents and young adults aged 15-39 years were diagnosed with cancer, and 9,270 died of the condition in 2020.

                Fiducial marker placement uses imaging guidance to place small metal objects called fiducial markers in or near a tumor in preparation for radiation therapy. The fiducial markers help to highlight the location of a tumor with greater accuracy and enable doctors to deliver the maximum dosage of radiation to the tumor while minimizing the dose delivered to nearby healthy tissue. Thus, the rapidly rising incidence of cancer across the world will drive the growth of the market during the forecast period.


              • Increase in research and development

                The market is witnessing an increase in the R an D of novel biologics such as bispecific antibodies, gene therapy, stem cell therapy, and antisense and RNAi therapies for the treatment of cancer. These drugs have innovative mechanisms of action; hence, they can change the treatment landscape for various types of cancers.

                Ongoing research in the field of molecular and cell biology has clarified the understanding of mechanisms such as gene silencing and RNAi. This has further led to the development of antisense and RNAi therapies for the treatment of genetic disorders, including cancer. There are a few antisense and RNAi-based therapies for cancer that are in the early phases of development. Some of the molecules have even reached the late stages of development. Also, there are ongoing R and D activities for the diagnosis and treatment of cancer. For instance, TheraSphere is a treatment option in a new field of cancer care called interventional oncology, in which the diagnosis, treatment, and palliation of the disease are performed through advanced imaging and minimally invasive techniques. In the case of TheraSphere, a very high dose of radiation is delivered to the tumor through a catheter. Apart from this, vendors are also following strategic alliances for the oncology segment. For instance, in May 2021, GE Healthcare acquired Zionexa, an in-vivo oncology and neurology biomarkers developer. The acquisition will enable the precision of health and provide innovations that support oncologists, nuclear medicine specialists, and other physicians for cancer patients. Thus, such factors will propel the growth of the market during the forecast period.


              The fiducial markers market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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