Global Medical Fiber Optics Market, By Type (Pure Silica Fiber, Polycrystalline Fiber, Polymer Optical), Fiber Type (Single-Mode Optical Fiber and Multimode Optical Fiber), Usage (Re-usable, Disposable), End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Contract Research Organization (CRO), Diagnostic Laboratories), Application (Image Transmission, Laser Signal Delivery, Illumination, Laser soldering, Fiber Optic Confocal Scanning) – Industry Trends and Forecast to 2029.
Medical Fiber Optics Market Analysis and Size
Fiber optics are used in medicine, including remote spectrophotometry, pressure and position sensing or scintillation counting. Fiber's physical properties, such as its flexibility and light weight, make it ideal for various medical applications. However, minimally invasive surgery is one of the main driving factors behind the success of fibre optics. The global rise in disease incidences such as kidney stones, cancer, cardiovascular disease, and arthritis has resulted in a larger population seeking minimally invasive procedures. Traditional surgery exposes tissues and organs through large incisions. In contrast, minimally invasive surgery allows for less pain during operations, quicker recovery time, and a lower risk of infection for the patient.
Data Bridge Market Research analyses that the medical fiber optics market, which was USD 926.60 million in 2021, is expected to reach USD 1633.20 million by 2029, at a CAGR of 6.5% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Fiber Optics Market Scope and Segmentation
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Report Metric |
Details |
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Forecast Period |
2022 to 2029 |
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Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2014 - 2019) |
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Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
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Segments Covered |
Type (Pure Silica Fiber, Polycrystalline Fiber, Polymer Optical), Fiber Type (Single-Mode Optical Fiber and Multimode Optical Fiber), Usage (Re-usable, Disposable), End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Contract Research Organization (CRO), Diagnostic Laboratories), Application (Image Transmission, Laser Signal Delivery, Illumination, Laser soldering, Fiber Optic Confocal Scanning) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
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Market Players Covered |
Newport Corporation (U.S.), Coherent, Inc. (U.S.), Molex LLC (U.S.), Integra lifesciences (U.S.), Fiberoptics Technology Incorporated (U.S.), Timbercon, Inc. (U.S.), Sunoptic Surgical (U.S.), Coherent, Inc. (U.S.), Vitalcor Inc (U.S.), Trumpf (Germany), Boston Scientific Corporation (U.S.), IPG Photonics Corporation (U.S.), Olympus America (U.S.), SCHOTT AG (Germany) and Biolitec AG (Germany) |
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Market Opportunities |
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Market Definition
Fiber optics are thin, long strands of very pure glass arranged in bundles that are used to transmit light signals over long distances. Fiber optics are used in various medical instruments for various purposes, including laser signal delivery, illumination, and image transfer. Medical fiber optics applications generally include X-ray imaging, light therapy, dental handpieces, ophthalmic lasers, diagnostic instrumentation, endoscopy, and surgical microscopy. Pure silica fiber, polycrystalline fiber, and polymer optical fiber are all used. Medical fiber optics are used in hospitals, diagnostic laboratories, contract research organizations, ambulatory surgical centers, specialty clinics, and other settings.
Global Medical Fiber Optics Market Dynamics
Drivers
- Growing demand for surgeries
The growing demand for minimally invasive and non-invasive procedures, advanced healthcare infrastructure, and the continuous integration of innovative optical fiber-based technologies in various fields, including cosmetology and dermatology, such as skin tightening and face lifting procedures, are expected to drive market growth. For instance, according to the American Society of Plastic Surgeons Plastic Surgery Report 2020, the United States reported 234,374 face-lifting procedures in 2020. These include surgeries as well as minimally invasive procedures that use medical fiber optics in the surgical procedure, contributing to market growth.
- Rising prevalence of chronic diseases
The rising prevalence of chronic diseases such as cancer, cardiovascular and gastrointestinal diseases, which increase the demand for endoscopic procedures, is expected to drive regional market growth. According to GLOBOCAN, 2020, approximately 2,281,658 new cancer cases were diagnosed in the United States in 2020, with 612,390 deaths. Furthermore, according to an article published in 2021 by the American Family Physician, laparoscopy procedures are returning to pre-pandemic levels in 2021, owing to increased demand in late 2020 or early 2021 to address postponed surgeries, which will eventually boost the adoption of medical fiber optics.
Opportunities
- Rising usage of endoscopy in medical fibers
The advantages of medical fiber optics over traditional light sources used in endoscopy are increasing their adoption in a variety of healthcare settings. For instance, Optical fibers are unaffected by electromagnetic interference (EMI), are non-hazardous, chemically inert, and intrinsically safe. Their use will not cause interference with traditional electronics in operating rooms. As a result, the advantages of medical fiber optics in endoscopic procedures are expected to boost the growth during the forecast period.
Restraints/Challenges
High cost of medical fiber optics and the low adoption rate in emerging and underdeveloped countries will obstruct the market's growth rate.
This medical fiber optics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical fiber optics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent developments
- In November 2019, Schott AG launched SCHOTT SingleEZ Guide plug-and-play illumination solution for single-use endoscopes. The SCHOTT® SingleEZ glass fibre illumination system provides a cost-effective solution for single-use endoscopy by combining improved heat management, small diameters, and light quality. The SingleEZ collection's components are all modular, resulting in a simple lighting solution for high-volume production
- In March 2019, Schott AG launched Autoclavable Solidur LEDs for use in dental and medical technology applications. Ultra-durable High Brightness Solidur® LEDs provide unrivaled reliability in conditions that conventional LEDs could not support. This includes life-critical medical, dental, UVB/UVC, and other harsh-environment applications where conventional LEDs and other light sources would fail.
Global Medical Fiber Optics Market Scope
The medical fiber optics market is segmented on the basis of type, fiber type, usage, end-user, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Pure Silica Fiber
- Polycrystalline Fiber
- Polymer Optical
Fiber Type
- Single-Mode Optical Fiber
- Multimode Optical Fiber
Usage
- Re-usable
- Disposable
End User
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Contract Research Organization (CRO)
- Diagnostic Laboratories
Application
- Image Transmission
- Laser Signal Delivery
- Illumination
- Laser soldering
- Fiber Optic Confocal Scanning
Medical Fiber Optics Market Regional Analysis/Insights
The medical fiber optics market is analyzed and market size insights and trends are provided by country, type, fiber type, usage, end-user, and application as referenced above.
The countries covered in the medical fiber optics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical fiber optics market owing to increased disposable incomes along with the innovatively advanced healthcare infrastructures, healthy medical delivery systems as well as greater healthcare expenditure
Asia-Pacific is expected to grow at the highest rate in the forecast period of 2022 to 2029 owing to the growing healthcare expenditure.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The medical fiber optics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical fiber optics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical fiber optics market. The data is available for historic period 2010-2020.
Competitive Landscape and Medical Fiber Optics Market Share Analysis
The medical fiber optics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical fiber optics market.
Some of the major players operating in the medical fiber optics market are:
- Newport Corporation (U.S.)
- Coherent, Inc. (U.S.)
- Molex LLC (U.S.)
- Integra lifesciences (U.S.)
- Fiberoptics Technology Incorporated (U.S.)
- Timbercon, Inc. (U.S.)
- Sunoptic Surgical (U.S.)
- Coherent, Inc. (U.S.)
- Vitalcor Inc (U.S.)
- Trumpf (Germany)
- Boston Scientific Corporation (U.S.)
- IPG Photonics Corporation (U.S.)
- Olympus America (U.S.)
- SCHOTT AG (Germany)
- Biolitec AG (Germany)
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