Medical Fiber Optics - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Medical Fiber Optics Market is accounted for $784.33 million in 2019 and is expected to reach $1,388.47 million by 2027 growing at a CAGR of 7.4% during the forecast period. Growing adoption of laser technology, increasing number of minimally invasive surgeries, and increasing need for early cancer detection are the major factors propelling the market growth. However, high cost of optic fibers is hampering the market growth.
Medical fiber optics is optical fiber used for medical applications. This fiber optics are used in various medical applications such as diagnosis and surgeries, as it aids to access the unreachable areas of the human body and enable transmission of lights and lasers through it. Optical fiber is a transparent and flexible fiber prepared of quality flexible glass, silica and plastic. Optical fibers are generally used as a mean to transfer light between two ends of fiber. It has a wide usage in fiber optics communications, where it permits light transfer over elongated distance and at much higher bandwidths compared to wire cables. Fibers are used for flexible light guide systems, laser light delivery systems, flexible image bundles, and illumination and light conductors.
Based on the fiber type, the multimode fibers segment is going to have a lucrative growth during the forecast period due to the high adoption of multimode fibers as compared to single-mode fibers. Multimode fibers are more economical and easier to manufacture, further boosting its market growth. Furthermore, their usage in surgical lightning and other illumination solutions is increasing. This is further anticipated to drive the market over the forecast period.
By geography, North America is going to have a lucrative growth during the forecast period due to the presence of a large number of key players in the region. Adoption of the latest technologies and advanced systems pertaining to optical fiber are already providing significant growth opportunities to the medical fiber optics market in the region. The high adoption of machines supporting the medical fiber optics technology in hospitals and increasing government spending on technologies pertaining to the medical field is fuelling the growth of the medical fiber optics market in the region. Furthermore, well-established healthcare industry, adoption of latest technologies among medical as well as other industries and increasing awareness regarding health and spending on better healthcare services are some additional factors supporting revenue growth of the target market in this region.
Some of the key players profiled in the Medical Fiber Optics Market include AFL, COHERENT, INC, Fiberoptics Technology Incorporated (FTI), Gulf Fiberoptics, Integra Lifesciences Corporation, LEONI, Molex, Newport Corporation, SCHOTT, and Timbercon, INC.
Sales Channels Covered:
• Direct Channel
• Distribution Channel
Fiber Types Covered:
• Multimode Optical Fiber
• Polycrystalline Fiber
• Polymer Optical
• Pure Silica Fiber
• Single-Mode Optical Fiber
• Biomedical Sensing
• Dental Hand Pieces
• Fiber Optic Confocal Scanning
• Fiberoptic Surgical Lights
• Fiberoptic Dental Lights
• Fiberoptic Sensors
• Image Transmission
• Laser Signal Delivery
• Laser Soldering
• Laser Fiberoptics
• Light Therapy
• Ophthalmic Lasers
• Surgical Microscopy
• X-ray Imaging
End Users Covered:
• Ambulatory Surgical Centers
• Contract Research Organization (CRO)
• Diagnostic Laboratories
• Specialty Clinics
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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