Global Fiducial Markers Market Size, Share, Forecast Report, 2020-2027

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. Increasing investments, funds, and grants by public-private organizations for cancer research, technological advancements in the market, and the rising cancer burden globally will fuel market growth over the forecast period.
By product, the metal-based markers segment is expected to hold the largest share of the fiducial markers market during the forecast period
Based on product, the market is segmented into metal-based, polymer-based, and other fiducial markers. The metal-based markers segment is further subsegmented into pure gold markers, gold combination markers, and other metal-based markers (tungsten, platinum, and nitinol, among others). The metal-based markers segment commanded the largest share of the market in 2018.

The ultrasound modality segment will register significant growth over the forecast period
On the basis of modality, the market is classified into CT/CBCT, MRI, ultrasound, and radiotherapy. Technological advancements and the rising preference for minimally invasive procedures have supported the high growth of the ultrasound modality segment.

Prostate cancer commanded the leading market share due to the rising preference for radiotherapy treatment
By cancer type, the fiducial markers market is segmented into prostate cancer, lung cancer, breast cancer, gastric cancer, and others. The prostate cancer segment is expected to dominate the market. The ongoing modernization and expansion of healthcare infrastructure, growing medical tourism, and improving research capabilities are expected to improve radiotherapy accessibility, further supporting market growth.

The hospitals & outpatient facilities end-user segment garnered the highest revenue in the market in 2018
The end users of fiducial markers include hospitals & outpatient facilities, independent radiotherapy centers, and cancer research centers. As FM placement around tumors is generally a noncritical procedure, it is typically performed in outpatient settings seven days before radiotherapy. This has ensured a sustained demand for the services of such facilities. In addition, the growing adoption of EBRT procedures (that utilize FMs for tumor localization) and the development & modernization of healthcare facilities are supporting the growth of this segment.
The Asia Pacific market is expected to grow at the highest CAGR during the forecast period
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).

An analysis of market developments between 2016 and 2019 revealed that several growth strategies, such as product launches and enhancements, partnerships, and acquisitions, were adopted by market players to strengthen their portfolios and maintain a competitive position in the market. Partnerships and agreements were the most widely adopted growth strategies by market players.

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.

The research report categorizes the market into the following segments and subsegments:

Market, by Product

• Metal-based Markers
  • Pure Gold
  • Gold Alloys
  • Other Metal-based Markers
• Polymer-based Markers
• Other Fiducial Markers

Market, by Modality

• CT/CBCT
• MRI
• Ultrasound
• Radiotherapy

Market, by Cancer Type

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

Market, by End User

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

Market, by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • RoLA
• Middle East & Africa