Medical Fiber Optics Market to Surpass US$ 1,729.1 Million by 2027 - Coherent Market Insights

Published On : Jun 25, 2019

The global medical fiber optics market was valued at US$ XXXX.X million in 2018 and is expected to increase to US$ 1,729.1 million by 2027, registering a CAGR of 6.1% over the forecast period (2019-2027), according to Global Medical Fiber Optics Market Report, by Fiber Type (Pure Silica Fiber (UV-Silica, Near Infrared (NIR) Silica, Metal- Coated Silica, Plastic Clad Silica), Polycrystalline Fiber and Polymer Optical), by End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Diagnostic Laboratories, and Contract Research Organization), by Application (Image Transmission, Illumination, Laser Signal Delivery, Fiber Optic Confocal Scanning, Laser soldering), by Usage (Reusable and Disposable), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) published by Coherent Market Insights.

For many years fiber optics are applied in medical industry. The physical feature of fiber optics makes the suitable for medical application. Generally, fiber optics is utilized in illumination. Two basic types of fiber optics are multiple mode fiber and single mode fibers.

Fiber optics has many application in medical industry, it is used in medical machines and also manufacturing of small instruments such as sensors. Properties such as transparency and flexibility are utilized to transfer light through optical devices. Fibers are utilized as flexible light delivery systems, laser light transmission systems, flexible image packages, and illumination and light conductors.

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https://www.coherentmarketinsights.com/market-insight/medical-fiber-optics-market-1645

Browse 150 market data tables* and 90 figures* on “Medical Fiber Optics Market” - Global forecast 2019 to 2027.

Key Trends and Analysis of the Global Medical Fiber Optics Market:

  • North America and Europe are projected to hold the largest regional markets share for medical fiber optics. Increasing adoption of instruments and machines supporting the medical fiber optics technology in hospitals and growing government investment on research and development in technologies affecting the medical field is powering growth of the global medical fiber optics market in the region. Since the introduction of MIS at the Cleveland Clinic, U.S. in 1996, there has been a significant growth in the number of MIS. The volume of MIS has increased 5.8X during the period 1996–2013
  • The global medical fiber optics market in Asia Pacific is assessed to register the highest growth during the forecast period. A large number of hospitals having machines supporting the medical fiber optics technology and swift economic growth is expected to boost the global medical fiber optics market in the region.
  • Among end user type, hospital segment held a significant market share in 2018, among other segments. Growing implementation of advanced technologies in hospitals and medical research facilities for surgeries and treatment of multiple diseases, such as ulcers and kidney diseases, is projected to fuel development of the global medical fiber optics market during the forecast period.
  • Among fiber type, pure silica fiber segment is held a significant market value share in 2018.
  • The global medical fiber optics market is expected to witness significant growth during the forecast period due to technological developments affecting precision and quality of endoscopy and other medical procedures.
  • One of the primary challenges faced by the healthcare industry is integrating various solutions and technologies that can aid physicians to diagnose and monitor patients effectively owing to the insufficient implementation of technologies. Furthermore, medical devices and instruments providers offer various devices that are compatible with certain optical fibers, due to technical specifications and requirements. This is expected to hinder demand for medical optical fiber for applications in the medical industry. Increasing usage of non-invasive monitoring and diagnostics methods such as glucose concentration, ECG, EKG, and hemodynamic monitoring are expected to hinder growth of the global medical optical fiber market to a certain extent
  • Major players operating in the global medical fiber optics market include Leoni AG, Gulf Fiberoptics, Inc., Coherent, Inc., Timbercon, Inc., Fiberoptics Technology, Inc., Schott AG, Newport Corporation, Molex Incorporated, Integra LifeSciences Holdings Corporation, and Sunoptic Technologies LLC

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