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Fiducial Markers Market: Increase in Incidence of Cardiovascular Diseases Contributes to Drive the Market
Fiducial markers, also known as fiducial, can be defined as the object placed in the viewing field of an imaging system, which appears in the image produced, and which can be used as a point of measure or reference
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Fiducial markers are implanted for defining and targeting the lesions which are located in the soft tissues of chest, abdomen, pelvis, head, and neck
The placement of fiducial marker is an image-guided procedure which is performed by interventional radiologists, in preparation for certain types of radiation therapy, including proton therapy, stereotactic body radiotherapy (SBRT), and stereotactic radiosurgery (SRS)
Key Drivers and Restraints of Global Fiducial Markers Market
The strong growth of the fiducial markers market can be attributed to increase in prevalence of cancer in the population. According to Globocan, over 18 million new cases of cancer were reported in 2018. The major forms of cancers affecting the people include lung, breast, colorectal prostate, and stomach.
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Increase in adoption of radiotherapy in cancer treatment has been fuelling the demand for fiducial markers, aiding in the growth of the market. Technological investments and rise in demand for minimally invasive surgeries have been supporting the growth of the ultrasound modality. This aids in the growth of the fiducial markers market.
Increase in incidence of cardiovascular diseases contributes in driving the market for fiducial markers. According to the WHO, cardiovascular diseases was the major cause of mortality globally.
Technological advances in ventricular assist devices (VAD) including continuous flow technology, have aided in improving implantability and efficiency, providing extended support, and improving the overall patient experience. This, in turn, creates the demand for these devices, contributing to the growth of the fiducial markers market.
However, lack of skilled labor and the high cost of fiducial markers might hinder the growth of the fiducial markers market
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North America to Lead Global Fiducial Markers Market
In terms of region, the global fiducial markers market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America dominated the global fiducial markers market in 2018, owing to strong presence of leading market players, high prevalence of cancer owing to lifestyle disorders, ongoing modernization and expansion of health care infrastructure, and well-established health care infrastructure
Europe was the second largest market for Fiducial Markers in 2018, followed by Asia Pacific. Asia Pacific is projected to be the fastest growing market for fiducial markers, followed by Latin America and Middle East & Africa. Growing focus of governments in Asian countries on enhancing the health care facilities, growing incidence of cancer, government initiatives, and rise in acceptance of radiotherapy procedures contribute to the growth of the fiducial markers market in the region.
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Key Manufacturers Operating in Global Fiducial Markers Market
Leading players in the global fiducial markers market are:
Stratapharma AG
CIVCO Medical Solutions
IZI Medical Products
Nanovi A/S
Boston Scientific Corporation
Naslund Medical AB
Medtronic
QlRad Inc.
JJ-Medtech
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