Medical Fiber Optics Market Share, Size, Trends, Industry Analysis Report, By Fiber Type (Single Mode Optical, Multimode Optical), By Application (Endoscopic Imaging, Laser Signal Delivery, Biomedical Sensing, Illumination, Others) By Region; Segment Forecast, 2022 - 2030
- Published Date:Mar-2022
- Pages: 101
- Format: PDF
- Report ID: PM2354
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Summary
The global medical fiber optics market was valued at USD 926.60 Million in 2021 and is expected to grow at a CAGR of 6.2% during the forecast period. The increasing use of laser technologies in medical care, as well as an increase in endoscopic operations for diagnosing and treatment, are expected to drive the medical fiber optics market growth.
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The outbreak of the COVID-19 virus strained healthcare systems, necessitating substantial organizational adjustments in medicinal institutions, leading to the delay of elective operations and treatments, severely influencing supplier and consumption chains, production processes, and sales and profit rotations. However, increasing chronic diseases and product innovation are expected to boost the growth of the medical fiber optics market during the anticipated period.
Industry Dynamics
Growth Drivers
Increasing knowledge of the advantages of negligibly invasive treatments is attributed to an increase in the number of methods, developing a sturdy demand for optics cables, detectors, as well as miniaturized camera systems, thus propelling the industry growth in numerous medicinal environments. Moreover, lasers are extensively utilized by beauticians and dentists, and several scientific research on sensing devices are being done, which is predicted to support development.
The increasing implementation of optics in the clinical and health businesses has provided new prospects for the industry. Expanding implementations of these optics for minimally invasive surgeries, ongoing miniaturization of medicinal equipment, as well as a growing adoption for effective imaging techniques, primarily in developing economies, are some of the key factors propelling the medical optics industry forward.
The restrictive laws and guidelines governing medicinal optics are the primary impediments to the industry. These laws and guidelines slow the licensing of novel equipment and impede the use of optic technologies in the medicinal and healthcare businesses, which in turn restrains industry development.
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Report Segmentation
The market is primarily segmented based on fiber type, application, and region.
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By Fiber Type |
By Application |
By Region |
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Insight by Fiber Type
Multimode optical are expected to dominate the global industry over the forecast period due to their excellent durability and capacity provided by these materials. Furthermore, operating, installing, and maintaining multimode wires is less costly. Since these optical are developing popularity with differences in reflecting angle, multiple signals may be delivered over the same fiber.
Single-mode optical is expected to grow considerably over the forecast period as these provide faster transmission over long ranges as less switching or routers are required in the middle. These are primarily utilized in medicinal uses, including Optical Coherence Tomography (OCT) devices to provide imaging information or even detectors to deliver superior signals.
Insight by Application
The illumination application segment is expected to hold the majority shares in the global medical optics market owing to the increased need for illumination in endoscopic operations and lighting in surgeries. Additionally, the increasing use of illumination in light treatment and phototherapy is fueling the segment demand, which in turn will boost the industry's growth.
Geographic Overview
Asia Pacific dominated the medical fiber optics market in 2021 and is expected to grow at the fastest pace over the forecast period due to increasing healthcare infrastructure across the region. Furthermore, growth in technology advancement along with minimally invasive procedures are expected to favor the trend.
The market in North America is expected to grow at a considerable pace during the projected period due to the rise in the occurrence of chronic illnesses, including cancer, diabetes, and others. Moreover, the presence of major market players and the increasing adoption of advanced technology in this region is expected to fuel the market demand.
Middle East & Africa is expected to grow significantly over the forecast period due to the increasing prevalence of chronic diseases and the rapidly evolving healthcare industry. Furthermore, the growing demand for advanced screening testing for identifying numerous types of illnesses is expected to propel the market demand.
Competitive Insight
Several players operating in the global medical fiber optics market include AFL, American Medical System LLC (AMS), Applied Fibrostics, CardioGenesis Corporation, Coherent, Inc., Fiberoptics Technology, Inc., Gulf Fiberoptics, Inc., Integra Lifesciences Corporation, IPG Photonics, Laserscope, Leoni, MKS Instruments, Inc, Molex Incorporated, Newport Corporation, ROFIN-SINAR Technologies Inc., Schott, Sunoptic Technologies Inc., Timbercon, Inc., TRUMPF Group, and Vitalcor, Inc.
These players are investing in research & development to introduce novel products and are adopting marketing techniques such as product launches, mergers & acquisitions, collaboration & partnerships, and several others in order to compete in the environment and to increase their customer base. Schott AG, for example, introduced Autoclavable Solidur LEDs in March 2019 for use in dentistry and medical advances industries. Furthermore, the company introduced the SCHOTT SingleEZ Guide plug-and-play lighting system with single-use endoscopes in November 2019.
Medical Fiber Optics Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 926.60 Million |
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Revenue forecast in 2030 |
USD 1,550.74 Million |
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CAGR |
6.2% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2022 to 2030 |
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Segments covered |
By Fiber Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
AFL, American Medical System LLC (AMS), Applied Fibrostics, CardioGenesis Corporation, Coherent, Inc., Integra Lifesciences Corporation, IPG Photonics, Laserscope, Leoni, MKS Instruments, Inc, Molex Incorporated, Newport Corporation, ROFIN-SINAR Technologies Inc., Schott, Sunoptic Technologies Inc., Timbercon, Inc., TRUMPF Group, and Vitalcor, Inc. |
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- Regional analysis
- Segmentation analysis
- Industry outlook
- Competitive landscape
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