The global medical fiber optics market size was valued at USD 920.9 million in 2020, and is predicted to be worth around USD 2.6 billion by 2030, registering a CAGR of 6.02% during the forecast period 2022 to 2030.
The market growth can be credited to the advancements in healthcare infrastructure, readiness to adopt technologically advanced products, growing prevalence of cancer, and rising awareness regarding minimally invasive surgeries.
The growing adoption of laser technology in various healthcare services and a surge in endoscopic procedures for diagnostic and therapeutic purposes are the key factors fueling the market growth. The growing trend of opting for minimally invasive surgeries over conventional open surgeries owing to the benefits associated with minimally invasive surgeries, such as reduced hospitalization, minimized infection risk, and quicker recovery periods is driving the demand for medical fiber optics.
|Market Size||US$ 2.6 billion by 2030|
|Growth Rate||CAGR of 6.02% From 2022 to 2030|
|Largest Market||Asia Pacific|
|Forecast Period||2022 to 2030|
|Segments Covered||Fiber type, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Molex; Schott; Fiberoptics Technology Incorporated (FTI); Coherent, Inc.; Integra Lifesciences Corporation; Newport Corporation; AFL; Leoni; Gulf Fiberoptics; Timbercon, Inc.|
By Fiber Type Analysis
The multimode optical fiber segment dominated the market and accounted for a revenue share of over 60.0% owing to the widespread adoption of multimode optical fibers in illumination solutions and surgical lighting purposes.
These optical fibers are used when a signal or a light wave has to be transmitted over a shorter distance and are often used in transporting light from the laser source to the locations. Single-mode optical fibers are anticipated to register the fastest growth rate over the forecast period owing to the numerous ongoing research studies on optic-based sensors and growing demand for advanced imaging solutions.
Compared to multimode optical fibers and they are being used in telemedicine and wearables and the emergence of technologically advanced products is expected to boost the growth of this segment. They are mostly used in medical applications such as Optical Coherence Tomography (OCT) catheters to deliver image signals or as sensors for the delivery of high-intensity signals.
By Application Analysis
The illumination segment dominated the market and accounted for a revenue share of over 30.0% owing to the growing adoption of fiber optics as a source of illumination in endoscopies and as lighting solutions used in surgical procedures.
The growing usage of high-power lights in healthcare therapies such as light therapy and phototherapy is driving the segment. Biomedical sensing is anticipated to register the fastest growth rate over the forecast period owing to the growing use of biomedical sensors in medical devices and wearables and several ongoing research studies on sensor technology. Imaging sensors are being used for advanced imaging techniques such as Optical Coherence Tomography (OCT) and photoacoustic imaging.
Researchers currently are using biosensors for detecting coronavirus at an early stage. Recently, a team of researchers at The Swiss Federal Laboratories for Materials Science and Technology (Empa), ETH Zurich, and Zurich University Hospital developed an optical thermal biosensor for detecting the presence of coronavirus.
By Regional Analysis
Asia Pacific dominated the market and accounted for a revenue share of over 30.0%. The market growth can be attributed to the improving standard of living, growing imports of high-quality medical devices, increasing medical tourism, advancing healthcare infrastructure, increasing favorable government initiatives, and rapid economic development.
The Middle East and Africa region is anticipated to register the fastest growth rate over the forecast period owing to the growing incidence rate of cancer, growing awareness of benefits associated with minimally invasive surgeries, and constant developments in healthcare infrastructure.
Integra Lifesciences Corporation
Fiberoptics Technology Incorporated (FTI)
By Fiber Type
Single Mode Optical Fiber
Multimode Optical Fiber
Laser Signal Delivery
Middle East & Africa
The medical fiber optics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of medical fiber optics market for the base year 2021 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global medical fiber optics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the medical fiber optics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted medical fiber optics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the medical fiber optics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of medical fiber optics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global medical fiber optics market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major medical fiber optics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of medical fiber optics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the medical fiber optics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
medical fiber optics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to medical fiber optics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of medical fiber optics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new medical fiber optics market. These factors have benefited the growth of the global market for medical fiber optics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for medical fiber optics. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of medical fiber optics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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