Medical Fiber Optics Market

Global Market Study on Medical Fiber Optics - Rising Preference for Minimally Invasive Surgeries to Foster Adoption

Introduction

The global medical fiber optics market size is expected to be nearly US$ 1,087.2 Mn in 2018. The medical fiber optics market is expected to grow at a CAGR of approximately 5.5% during the forecast period of 2018 to 2028. The illumination subsegment is expected to hold a significant market value share among the application segments of the medical fiber optics market during 2018.

medical fiber optics market value share

The hospital subsegment of the end-user segments of the medical fiber optics market is expected to hold a significant market value share in 2018 among the other subsegments. The increasing adoption of advanced technologies in hospitals for surgeries and the treatment of multiple diseases, such as peptic ulcers, is expected to fuel growth of the medical fiber optics market during the forecast period.

The pure silica fiber subsegment of the fiber type segment of the medical fiber optics market is expected to hold a significant market value share in 2018. The medical fiber optics market is expected to witness significant growth during the forecast period due to technological advancements pertaining to endoscopy and other medical procedures.

Organizations such as the United States Pharmacopeia (USP) and IEC Telecommunication, focus primarily on setting standards to safeguard the quality of medicines and other healthcare technologies. Thus, medical fiber optics products need to follow some regulations and standards undertaken by these organizations.

North America and Europe are estimated to remain the largest regional markets for medical fiber optics. 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.

The medical fiber optics market in Asia Pacific is estimated to register the highest CAGR during the forecast period. Presence of a large number of hospitals having machines supporting the medical fiber optics technology and rapid economic growth is expected to fuel the growth of the medical fiber optics market in the region.

The medical fiber optics market in North America is expected to witness a significant incremental opportunity. The presence of a large number of key players in the region is responsible for the substantial growth of the medical fiber optics market in North America. 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.

  • Increasing number of minimally invasive surgeries is fuelling growth of the medical fiber optics market

Minimally invasive surgical procedures with the help of medical fiber optics technology are gaining popularity across various clinics and hospitals across the globe owing to benefits such as shorter length of stay, reduced bleeding, low cost, and lesser complications. This is expected to increase the demand for medical fiber optics for minimally invasive surgeries during the forecast period.

  • The medical fiber optics market is expected to witness a significant growth due to increasing use of optical fibers in the medical field

The optical fibers used in medical fiber optics technologies are resistant to electromagnetic interference and radio frequency, and find applications in real-time diagnostic imaging such as MRI, PET, and CT systems. Thus, the medical fiber optics market is expected to witness significant growth during the forecast period.

  • Advancements in sensor-based component technology are expected to register growth opportunities for the medical fiber optics market

Technological advancements in the electronics industry pertaining to sensor-based components have led to the 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, Fiber Bragg Gratings (FBG), mach-zehnder interferometers, and fabry-perot cavities or external fiber, sensors, are predominately used in biomedical applications for sensing and image delivery. This is estimated to drive the medical fiber optics market in the near future.

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Companies

Company Profiles

  • Products/Brand Offerings
  • Company Share Analysis (2016)
  • Company Highlights
  • Global Players
  • SCHOTT 
  • LEONI
  • Newport Corporation
  • Coherent Inc.
  • Molex Incorporated
  • Integra LifeSciences Holdings Corporation
  • Fiberoptics Technology Incorporated
  • Timbercon
  • Gulf Fiberoptics

Medical Fiber Optics Market – Competitive Landscape

Some of the top participants in the global medical fiber optics market include SCHOTT AG, LEONI, Newport Corporation, Coherent Inc., Molex Incorporated, Integra LifeSciences Holdings Corporation, Fiberoptics Technology Incorporated, Timbercon, and Gulf Fiberoptics.

Medical fiber optics play a significant role in minimally invasive and noninvasive surgeries. Growth of the electronics and communication industry is fueling growth of the global medical fiber optics market.

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