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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:
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.
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The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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.
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.
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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.
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.
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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.
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.
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.
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Fiducial Markers Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.66% |
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Market growth 2022-2026 |
$ 36.5 million |
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Market structure |
Fragmented |
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YoY growth (%) |
5.13 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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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 |
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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 |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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