Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Fiber optics are thin, long strands of very pure glass, arranged in bundles that are used to translate light signals over long distances. Various medical instruments utilize fiber optics for several applications including laser signal delivery, illumination, and image transfer. Generally, medical fiber optics applications include X-ray imaging, light therapy, dental handpieces, ophthalmic lasers, diagnostic instrumentation, endoscopy, and surgical microscopy. Different types of fibers are used such a pure silica fiber, polycrystalline fiber, and polymer optical. Medical fiber optics are used in hospitals, diagnostic laboratories, contract research organizations, ambulatory surgical centers, specialty clinics, etc.

The global medical fiber optics market is estimated to account for US$ 1,855.2 Mn in terms of value by the end of 2027.

Market Dynamics- Drivers

  1. Growing preference for minimally invasive surgery (MIS) is expected to drive growth of the global medical fiber optics market during the forecast period

MIS refers to a medical surgery, which performed through small incisions rather than large incisions. Since there is reduced blood loss, these surgical procedures are gaining major traction in hospitals and clinics worldwide. Furthermore, MIS offers shorter hospital stays, fewer complications, and low cost. For these surgeries, fiber optics are used as they are highly flexible, light, and can be placed in tight spaces highly localized measurements. Hence, these factors are expected to drive growth of the global medical fiber optics market during the forecast period.

  1. Rising prevalence of gastrointestinal diseases is expected to propel the global medical fiber optics market growth over the forecast period

The prevalence of gastrointestinal and digestive diseases has increased significantly in the recent past in both developed and emerging economies. According to the Centers for Disease Control and Prevention (CDC), in 2019, there were around 14.8 million adults in the U.S. diagnosed with ulcers. Ulcer is a type of gastrointestinal disease and in severe cases, it requires surgical procedures. Medical fiber optics can be used in diagnosis and analysis of ulcers, which in turn, is expected to propel the global medical fiber optics market growth in the near future.

Statistics:

North America held dominant position in the global medical fiber optics market in 2019, accounting for 36.0% share in terms of value, followed by Europe, APAC, Latin America, and MEA respectively.

Figure 1: Global Medical Fiber Optics Market Share (%), in terms of Value, By Region, 2019

Medical Fiber Optics  | Coherent Market Insights

Market Dynamics- Restraints

  1. Increasing use of non-invasive diagnostics and monitoring methods is expected to restrain growth of the global medical fiber optics market during the forecast period

Many medical professionals and patients are preferring non-invasive diagnostics and monitoring methods for obvious reasons. These methods include glucose concentration, hemodynamic monitoring, X-rays, EKG, ECG, etc. As a result of this, the demand for medical fiber optics has declined significantly. Therefore, these factors are expected to restrain growth of the market in the near future.

  1. Challenges associated with comp ability issues are expected to hamper the global medical fiber optics market growth over the forecast period

There still remains a major issue of integrating novel technology in healthcare industry that can help physicians to diagnose and monitor patients efficiently. Moreover, solution providers offer various devices that are compatible with certain optical fibers due to technical specifications and requirements. Hence, these factors are expected to hamper the market growth over the forecast period.

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Medical Fiber Optics Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 1,160.8 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 6.0% 2027 Value Projection: US$ 1,855.2 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, Israel, South Africa, North Africa, Central Africa, Rest of Middle East
Segments covered:
  • By Fiber Type:
    • Pure Silica Fiber: UV-Silica, Near Infrared(NIR) Silica, Metal- Coated Silica, Plastic Clad Silica.
    • Polycrystalline Fiber, Polymer Optical.
  • By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Diagnostic Laboratories, Contract Research Organization.
  • By Application: Image Transmission, Illumination, Laser Signal Delivery, Fiber Optic Confocal Scanning, Laser soldering.
  • By Usage: Reusable, Disposable.
Companies covered:

Leoni AG, Sunoptic Technologies LLC, Gulf Fiberoptics, Inc., Integra LifeSciences Holdings Corporation, Coherent, Inc., Molex Incorporated, Fiberoptics Technology, Inc., Newport Corporation, and Schott AG.

Growth Drivers:
  • Growing preference for minimally invasive surgery (MIS)
  • Rising prevalence of gastrointestinal diseases
Restraints & Challenges:
  • Increasing use of non-invasive diagnostics and monitoring methods
  • Challenges associated with comp ability issues

Market Opportunities

  1. Constant technological advancements can provide major business opportunities

Key companies in the market are focused on research and development activities, in order to innovate novel products. For instance, in June 2015, Leoni introduced radiation-resistant multi-mode fibers for computer tomography applications. These fibers are IEC 60332-1-2 and IEC 60332-3-22 Cat. A compliant. Moreover, in June 2015, Leoni introduced radiation-resistant multi-mode fibers for computer tomography applications.

  1. Rising business expansion of market players can present lucrative growth opportunities

Key market players are focused on business and capacity expansion, in order to enhance the market presence. For instance, in March 2015, Schott AG expanded its Puravis glass optical fiber solutions by introducing rigid fiber rods for dental devices applications.

Figure 2: Global Medical Fiber Optics Market Value (US$ Mn), 2017 - 2027

Medical Fiber Optics  | Coherent Market Insights

The global medical fiber optics market was valued at US$ 1,160.8 Mn in 2019 and is forecast to reach a value of US$ 1,855.2 Mn by 2027 at a CAGR of 6.0% between 2020 and 2027.

Market Trends

  1. North America Trends

Among regions, North America is expected to witness significant growth in the global medical fiber optics market during the forecast period. This is owing to high presence of major manufacturers across the U.S. Furthermore, technological advancements and rising foreign investment are expected to boost the regional market growth over the forecast period.

  1. Europe Trends

Europe is expected to register a robust growth rate in the global medical fiber optics market over the forecast period. This is owing to strong industrial growth across the region. Furthermore, increasing surgical procedures in developed countries such as Germany, France, and the U.K. is expected to propel the regional market growth in the near future.

Regulations

USP Class Testing

The United States Pharmacopeia (USP) is a non-government organization that focuses primarily on setting standards to safeguard the quality of medicines and other health care technologies. This organization focuses on bio-technology and pharmaceutical industries. The USP sets standards for strength, purity, quality and consistency of various products. These standards are published in the National Formulary (USP NF) and US Pharmacopeia. The USP defines six classes, from I to VI, where USP class VI being the most stringent. Plastic manufacturers that utilize plastic resins as raw materials for manufacturing medical devices and components require these raw materials to be certified as USP Class VI in order to produce favorable biocompatibility results.

Global Medical Fiber Optics Market- Impact of Coronavirus (Covid-19) Pandemic

According to Coherent Market Insights’ analysis, the impact of coronavirus (COVID-19) pandemic on the medical fiber optics is moderate. Due to lockdown in countries such as China and India, supply chain is mainly disturbed. Furthermore, many key players in the market remains operational with limited people working on the shop floor and remaining people are working from home, which lowered the production capacity of the factory. For instance, in April 2020, Coherent, Inc., a US based electronics component manufacturing company implemented COVID 19 regulations such as social distancing norm, for employees working in the factory floor. Further company provided work from facility to the remaining employees to combat COVID 19. This has affected ongoing activities in the industry however, there is expected to be significant growth in the market post COVID.

Competitive Section

Key players operating in the global medical fiber optics market Leoni AG, Sunoptic Technologies LLC, Gulf Fiberoptics, Inc., Integra LifeSciences Holdings Corporation, Coherent, Inc., Molex Incorporated, Fiberoptics Technology, Inc., Newport Corporation, and Schott AG.

Key Developments

  1. Key market players are focused on product launches, in order to expand the product portfolio. For instance, in November 2019, Schott AG launched SCHOTT SingleEZ Guide plug-and-play illumination solution for single-use endoscopes.
  2. Major market players are involved in product development, in order to gain a competitive edge in the market. For instance, in March 2019, Schott AG launched Autoclavable Solidur LEDs for use in dental and medical technology applications.

Fiber optics are thin, long strands of very pure glass, arranged in bundles that are used to translate light signals over long distances. Various medical instruments utilize fiber optics for several applications including laser signal delivery, illumination, and image transfer. Different types of fibers are used such a pure silica fiber, polycrystalline fiber, and polymer optical. Medical fiber optics are used in hospitals, diagnostic laboratories, contract research organizations, ambulatory surgical centers, specialty clinics, etc.

Market Dynamics

The adoption of the medical fiber optics is increasing in the various clinics and hospitals across the globe this is owing to the benefits such as shorter length of stay, reduced bleeding, low cost, lesser complications and others provided by the medical fiber optics. Due to these reasons the adoption of medical fiber optic is expected to increase in the medical field during the forecast period.

Furthermore, Technological advancements in the electronics industry has led to increasing adoption of sensor-based components, in combination with optical fiber, in the healthcare industry. Currently, certain fiber-optic sensing mechanisms such as Sagnac interferometers, mach-zehnder interferometers, Fiber Bragg Gratings (FBG), fabry-perot cavities or external fiber, and sensors are being used in the biomedical applications for sensing and image delivery. Thus, increasing technological development in the electronics sensor and technology is expected to drive the global fiber optics market during the forecast period.

Market taxonomy

This report segments the global Medical Fiber Optics market on the basis of fiber type, end user, application, usage, and region. On the basis of fiber type, the global medical fiber optics market is segmented into Pure Silica Fiber, Polycrystalline Fiber, and Polymer Optical. Further, on the basis of pure silica fiber global medical fiber optics is sub-segmented into UV-silica, near infrared (NIR) silica, metal- coated silica, and plastic clad silica. On the basis of end user, the global medical fiber optics market is segmented into hospitals, specialty clinics, ambulatory surgical centers, diagnostic laboratories, and contract research organization. On the basis of application, the global medical fiber optics market is segmented into image transmission, illumination, laser signal delivery, fiber optic confocal scanning, and laser soldering. On the basis of usage, the global medical fiber optics market is segmented into reusable, and disposable. On the basis of region, the global medical fiber optics market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global Medical Fiber Optics market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Medical Fiber Optics market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global Medical Fiber Optics market are Leoni AG, Sunoptic Technologies LLC, Gulf Fiberoptics, Inc., Integra LifeSciences Holdings Corporation, Coherent, Inc., Molex Incorporated, Fiberoptics Technology, Inc., Newport Corporation, and Schott AG.
  • The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global Medical Fiber Optics market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global Medical Fiber Optics market.

Detailed Segmentation:

  • Global Medical Fiber Optics Market, By Fiber Type:
    • Pure Silica Fiber
      • UV-Silica
      • Near Infrared(NIR) Silica
      • Metal- Coated Silica
      • Plastic Clad Silica
    • Polycrystalline Fiber
    • Polymer Optical
  • Global Medical Fiber Optics Market, By End User:
    • Hospitals
    • Specialty Clinics
    • Ambulatory Surgical Centers
    • Diagnostic Laboratories
    • Contract Research Organization
  • Global Medical Fiber Optics Market, By Application:
    • Image Transmission
    • Illumination
    • Laser Signal Delivery
    • Fiber Optic Confocal Scanning
    • Laser soldering
  • Global Medical Fiber Optics Market, By Usage:
    • Reusable
    • Disposable
  • Global Medical Fiber Optics Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • MEA
  • Company Profiles
    • Leoni AG*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Sunoptic Technologies LLC
    • Gulf Fiberoptics, Inc.
    • Integra LifeSciences Holdings Corporation
    • Coherent, Inc.
    • Molex Incorporated
    • Fiberoptics Technology, Inc.
    • Newport Corporation, and Schott AG.

*Browse all the market data tables and figures on “Global Medical Fiber Optics Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Fiber Type
      • Market Snippet, By End User
      • Market Snippet, By Application
      • Market Snippet, By Usage
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
  4. Impact of COVID-19 Pandemic on Global Medical Fiber Optics Market
    • Short Term and Long Term Impact, by Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East and Africa
    • Short Term and Long Term Impact, by End User
      • Hospitals
      • Specialty Clinics
      • Ambulatory Surgical Centers
      • Diagnostic Laboratories
      • Contract Research Organization
  5. Global Medical Fiber Optics Market, By Fiber Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Pure Silica Fiber
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
        • UV-Silica
        • Near Infrared(NIR) Silica
        • Metal- Coated Silica
        • Plastic Clad Silica
    • Polycrystalline Fiber
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Polymer Optical
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Medical Fiber Optics Market, By End User, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Specialty Clinics
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Diagnostic Laboratories
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Contract Research Organization
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Medical Fiber Optics Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Image Transmission
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Illumination
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Laser Signal Delivery
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Fiber Optic Confocal Scanning
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Laser soldering
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  8. Global Medical Fiber Optics Market, By Usage, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Reusable
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Disposable
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  9. Global Medical Fiber Optics Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
    • North America
      • Region Trends
      • Market Size and Forecast, By Fiber Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By End User, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Usage, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Region Trends
      • Market Size and Forecast, By Fiber Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By End User, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Usage, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Region Trends
      • Market Size and Forecast, By Fiber Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By End User, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Usage, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Region Trends
      • Market Size and Forecast, By Fiber Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By End User, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Usage, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Region Trends
      • Market Size and Forecast, By Fiber Type, 2020–2027 (US$ Million)
      • Market Size and Forecast, By End User, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Usage, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  10. Competitive Landscape
    • Company Profiles
      • Leoni AG.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sunoptic Technologies LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Gulf Fiberoptics, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Integra LifeSciences Holdings Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Coherent, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Molex Incorporated
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Fiberoptics Technology, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Newport Corporation, and Schott AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  11. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse XX market data tables and XX figures on “Global Medical Fiber Optics Market-forecast to 2027”.

Frequently Asked Questions

The global medical fiber optics market size was valued at US$ 1,160.8 million in 2019 and is estimated to exhibit a CAGR of 6.0% between 2020 and 2027.
Illumination, segment held the major market share in 2019 owing to growing preference for minimally invasive surgery (MIS)
Major factor driving the growth of global medical fiber optics market during the forecast period are growing preference for minimally invasive surgery (MIS) and rising prevalence of gastrointestinal diseases
Major factor hampering the growth of the medical fiber optics market during the forecast period constitutes of increasing use of non-invasive diagnostics and monitoring methods
North America medical fiber optics market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Leoni AG, Sunoptic Technologies LLC, Gulf Fiberoptics, Inc., Integra LifeSciences Holdings Corporation, Coherent, Inc., Molex Incorporated, Fiberoptics Technology, Inc., Newport Corporation, and Schott AG.
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