Medical Fiber Optics Market

Market Study on Medical Fiber Optics: Imaging Application to Lead Market Expansion Over Coming Years

Medical Fiber Optics Market Segmented By Pure Silica Fiber, Thulium Doped Fiber Lasers, Holmium: YAG, Step-Index Fiber, Graded-Index Fiber, Polycrystalline Fiber, Polymer Optical Type in Single, Multi-Mode Fiber Mode for Disposable Surgical Laser Fiber, Reusable Surgical Laser Fiber Usage with Optical Coherence Tomography, Brain Tumor Ablation, Lipolysis Procedure

Medical Fiber Optics Market Outlook (2022-2032)

The size of the global medical fiber optics market is expected to increase from US$ 1.27 Bn in 2021 to US$ 2.53 Bn by 2032, expanding at a CAGR of 6.7% over the decade. Sales of medical fiber optics accounted for around 26% share of the global fiber optics market in 2021.

The market for medical fiber optics is anticipated to grow rapidly as a result of rising health consciousness and the expansion of medical institutions around the world. Globally, the healthcare sector is expanding significantly. In addition, the number of technologically-advanced hospitals and medical facilities is increasing around the world.

Demand for medical diagnostic tools is anticipated to rise as gastrointestinal disorders, particularly peptic ulcers, become more common. As a result, demand for fiber optics in medical for diagnostic uses is anticipated to rise substantially.

Medical Fiber Optics Market Size (2022)

US$ 1.33 Bn

Projected Market Value (2032)

US$ 2.53 Bn

Global Market Growth Rate (2022-2032)

6.7% CAGR

Market Share of Top 5 Vendors

60%

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Companies

  • SCHOTT
  • LEONI
  • Newport Corporation
  • Coherent Inc.
  • Molex Incorporated
  • Integra LifeSciences Holdings Corporation
  • Fiberoptics Technology Incorporated
  • Timbercon
  • Gulf Fiberoptics

Demand Analysis of Medical Fiber Optics (2017-2021) Vs. Market Outlook (2022-2032)

The global market for medical fiber optics expanded at 4.2% CAGR from 2017-2021.

Growing popularity of minimally-invasive surgeries over conventional open surgeries happens to be one of the major factors driving market growth. Due to advantages such as less bleeding, shorter hospital stay, low cost, and minimal risks, this technique is becoming more common in hospitals and clinics around the world.

The number of minimally-invasive surgeries has increased significantly since they were first implemented at the Cleveland Clinic in the United States in 1996.

In terms of regional growth, Persistence Market Research identifies North America, followed by Europe, as leading markets for medical fiber optics. Expansion in South Asia & Pacific is supported by growth in the number of entry-level companies manufacturing medical fiber optics.

Overall, the global medical fiber optics market is predicted to expand at a CAGR of 6.7% through 2032.

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What are the Dynamics of the Medical Fiber Optics Market?

“Increasing Utilization of Fiber Optics in Medical Devices”

Fiber optics are utilized in endoscopes and support the medical imaging and illumination components within these devices. Another application of fiber optics in medical devices is in biomedical sensors. Biomedical sensors can be utilized externally and internally and can measure a broad variety of indicators within the human body, such as blood temperature, body temperature, muscle displacement, heart rate, etc.

Because of the non-toxic nature, small size, and flexibility of fiber optics, they are extremely beneficial for several procedures and a crucial tool in medicine. Their usage has led to more secure surgeries, effective procedures, faster recovery times, and detailed examinations.

These benefits of medical fiber optics are anticipated to drive the market substantially over the coming years.

“High Cost & Lower Acceptance of Medical Fiber Optics”

The low acceptance rate of medical fiber optics in developing nations because of the high cost is anticipated to restrain the development of the market.

  • Also, according to a WHO report, nearly 70% of medical devices coming from developed countries do not work in developing nations because of the lack of skilled professionals and the high cost involved in the maintenance of medical fiber optic devices.

Owing to this, many hospitals and medical professionals still use conventional methods to perform surgical procedures. Medical fiber optics are costly due to the advanced technology used in them, which also requires high levels of maintenance, which is very expensive.

Thus, the high cost of medical fiber optic devices, together with their high maintenance cost, is a major issue restraining the growth of the market to some extent.

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Country-wise Insights

How are Sales of Medical Fiber Optics Shaping Up in the U.S.?

The North American region is expected to dominate the global fiber optics market during the forecast period. According to this study, the U.S. is estimated to emerge as a most attractive market with a significant share of around 74.3% by the end of 2022.

The U.S. medical fiber optics market is expected to increase due to the growing prevalence of chronic diseases such as cancer, diabetes, and various other conditions. Also, an increase in the number of endoscopic operations for the timely diagnosis of cancer and other chronic illnesses is a crucial factor driving the growth of the market in the U.S.

Moreover, the presence of key players in the country who are manufacturing medical fiber optic products is further responsible for driving high market growth.

Another factor boosting the growth of the market is the increase in the utilization of laser technology in cosmetology and dentistry and continuous research of biomedical sensors.

Why is the U.K. Emerging as a Prominent Market for Medical Fiber Optics?

The U.K. is anticipated to be one of the prominent markets for medical fiber optics in the European region and its market size is expected to expand 2.3X during 2022-2032. The U.K. medical fiber optics market is expected to surge at a robust CAGR of 8.7% during the forecast period.

In Europe, the medical fiber optics market is expanding rapidly due to growing awareness about minimally-invasive surgeries such as laparoscopic surgeries and robotic surgeries, and rising demand for the usage of technologically-developed products in the medical sector.

  • As per a report by the Centers for Disease Control and Prevention, cardiovascular diseases are the major cause of death in the European Union, and around 13 million new cardiovascular disease cases are diagnosed every year.

Thus, increasing prevalence of cardiovascular diseases and the growing need for surgeries is contributing to the growth of the medical fiber optics market in the region, especially in the U.K.

Why are Manufacturers of Medical Fiber Optics Eyeing China?

The China medical fiber optics market is set to register the highest growth in the medical fiber optics industry in East Asia, and its market size is expected to expand 2.3X, creating an absolute $ opportunity of US$ 163.5 Mn between 2022 & 2032.

  • As per a report by the Centres for Disease Control and Prevention, in China, cardiovascular disease is the major cause of death and the country has around 106 million cardiovascular patients.

Thus, rising cases of cardiovascular diseases are majorly contributing to the demand growth for medical fiber optics in the country.

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Category-wise Insights

Why is Demand for Pure Silica Fiber Type Rising Rapidly?

By fiber type segment, pure silica fiber will dominate the market and is set to exhibit the highest CAGR of 7.1% during 2022-2032. The pure silica fiber segment is further bifurcated into UV- silica, near infrared (NIR) silica, metal- coated silica, and plastic clad silica.

Growth of the pure silica fiber type segment can be attributed to its properties such as flexibility and high mechanical strength, which make it perfect for several medical applications.

Why is Multi-Mode Fiber Dominating the Medical Fiber Optics Landscape?

Based on mode, the multi-mode fiber will be a dominating segment and is anticipated to expand at a CAGR of 6.2% from 2022 to 2032.

Over the forecast period, the multi-mode fiber segment is anticipated to maintain its dominant position. Increasing use of multi-mode optical fibers in lighting systems and surgical lighting applications is responsible for the expansion of the segment.

The production of multimode optical fibers is simpler and more affordable. These optical fibers are frequently used to carry light from the laser source to the site when a signal or light wave needs to be transferred across a shorter distance. Multimode optical fibers are commonly employed in developing countries because of their cost-effective nature.

Why is Demand for Reusable Surgical Laser Fibers Rising?

Among the disposable surgical laser fibers and reusable surgical laser fibers, the reusable surgical laser fibers segment is expected to emerge as the most attractive in the market and expand at a CAGR of 7.1% through 2032.

Growth of the segment can be attributed to the long-term cost advantages that this type provides. Even though initially it is more expensive, there are significant savings later on that eventually lower its overall pricing.

Competitive Landscape

The global medical fiber optics market is fragmented with new vendors offering advanced products and solutions. Companies supplying medical fiber optics are focused on research and development and are adding new products to their product portfolios.

For instance,

  • In December 2020, Leoni announced the new design of the SideFire laser probe for the enhancement of innovative OEM laser systems. The new design is rated especially for high-power medical laser applications and increases precision and comfort for urologists.
  • In November 2020, Schott AG announced the launch of the new and enhanced Coldvision MC-LS LED light source. It fulfills the standards of material science, microscopy, and machine vision applications at a reasonable price.

Medical Fiber Optics Industry Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

USD Million for Value

Key regions covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East & Africa

Key countries covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Oceania
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Fiber Type
  • Mode
  • Usage
  • Type of Procedure
  • Application
  • Region

Key companies profiled

Report coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Qualitative Analysis on Medical Procedures
  • Insights on Key Applications of Medical Optic Fibers
  • Specifications by Types of Medical Optic Fibers
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

Medical Fiber Optics Industry Survey by Category

Medical Fiber Optics Market by Fiber Type:

  • Pure Silica Fiber
    • UV- Silica
    • Near Infrared (NIR) Silica
    • Metal- Coated Silica
    • Plastic Clad Silica
  • Thulium Doped Fiber Lasers (TDFLs)
  • Holmium: YAG
  • Step-Index Fiber
  • Graded-Index Fiber
  • Polycrystalline Fiber
  • Polymer Optical

Medical Fiber Optics Market by Mode:

  • Single Mode Fiber
  • Multi-Mode Fiber

Medical Fiber Optics Market by Usage:

  • Disposable Surgical Laser Fiber
  • Reusable Surgical Laser Fiber

Medical Fiber Optics Market by Type of Procedure:

  • Optical Coherence Tomography
  • Brain Tumor Ablation
  • Lipolysis
  • Others

Medical Fiber Optics Market by Application:

  • Power Delivery
  • Imaging
  • Sensing
  • Others

Medical Fiber Optics Market by Region:

  • North America Medical Fiber Optics Market
  • Latin America Medical Fiber Optics Market
  • Europe Medical Fiber Optics Market
  • East Asia Medical Fiber Optics Market
  • South Asia & Pacific Medical Fiber Optics Market
  • Middle East & Africa (MEA) Medical Fiber Optics Market

- FAQs -

The global medical fiber optics market was valued at US$ 1.27 Bn in 2021.

Increasing utilization of fiber optics in medical devices, growing preference for minimally-invasive surgeries, and increasing usage of fiber optics in optical coherence tomography (OCT) are driving market expansion.

From 2017 to 2021, demand for medical fiber optics increased at a CAGR of 4.2%.

Sales of medical fiber optics are projected to increase at 6.7% CAGR and reach US$ 2.53 Bn by 2032.

SCHOTT, LEONI, Molex Incorporated, Coherent Inc., and Integra LifeSciences Holdings Corporation account for around 60% market share.

India and Oceania together held more than 55% of the South Asia & Pacific market share in 2021.

The U.S, Canada, China, Japan, and U.K. are major demand countries for medical fiber optics.

Total absolute opportunity for Japan is set to reach US$ 63.8 Mn, whereas, the market in India is anticipated to reach US$ 119.6 Mn by 2032.

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