The global fiducial markers market will reflect at a stellar CAGR of 8.5% amid the projected period, 2020-2030. The market growth can be primarily attributed to growing implementation for treating debilitating cancers. Furthermore, the COVID-19 outbreak has encouraged fiducial markers sales as healthcare providers have listed cancer treatment their top priority.
“Growing research & development for attaining technologically advanced solutions to treat cancers along with other debilitating disorders is producing immense green space for probable fiducial markers market players” says an FMI analyst.
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- North America is likely to account for notable market share fueled by increased awareness concerning advanced diagnostic procedures and cancer treatment.
- Pure gold segment is anticipated to reflect high growth prospects among other product types.
- Photon therapy modality segment will remain lucrative over the forecast period.
- Prostate cancer disease site will remain key beneficiary in the global market.
- Hospitals are projected to gain traction and surpass radiotherapy centers end users segment in the forthcoming years
- Surging cases of cancers across the world is bolstering the demand for fiducial markers in the global market.
- Increasing preference for stereotactic radiation due to its effective remedy against various debilitating cancers is boosting sales in the market.
- With advancements in healthcare, high demand for precision-based imaging modalities is driving the market growth.
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- Invasive nature of the implants can act as a huge constraint to market growth.
- Fiducial markers often distort image quality amid scanning, interpreting tumor delineation is a huge challenge to the market growth.
COVID-19 Impact on the Market
The COVID-19 pandemic has broaden the growth prospect s of the fiducial markers market. Since cancer treatment necessitates precedence, healthcare providers are accommodating to handle patients suffering from devastating conditions. Thus, the requirement for precision-based detection systems has been boosted in recent months. Furthermore, to decrease infection spread, patients needing immediate surgical care are assisted first while consultation for probable prevalence is shifted towards virtual platforms.
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The fiducial markers market encompasses of these key market players: Innovative Oncology Solutions, Eckert & Ziegler BEBIG, Boston Scientific, Best Medical International, Inc., IBA Dosimetry, Carbon Medical Technologies, alphaXRT, CIVCO, Stellar Medical and Nanovi A/S.
A mixture of growth strategies, scoping from new product launches to strategic alliances and collaborations and technological disruptions are adopted by these market players to stay afloat in the highly competitive scenario.