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Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Medical Fiber Optics Market
Medical Fiber Optics Market
Medical Fiber Optics Market
Published date: Nov 2021 • Formats:
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  • Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Medical Fiber Optics Market

Global Medical Fiber Optics Market; By Fiber Type (Multimode Optical Fiber and Single Mode Optical Fiber); By Application (Laser Signal Delivery,  Illumination, and Biomedical Sensing); As well as by Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast: 2023-2032

  • Published date: Nov 2021
  • Report ID: 21388
  • Number of Pages: 326
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
  • Request a Sample
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    • Report Overview
    • Market Dynamics:
    • Global Medical Fiber Optics Market Scope:
    • Кеу Маrkеt Ѕеgmеntѕ:
    • Regional Analysis
    • Key Regions and Countries Covered іn This Rероrt:
    • Market Share & Key Players Analysis:
    • Кеу Маrkеt Рlауеrѕ:

    Report Overview

    The Global Medical Fiber Optics size is expected to be worth around USD 1,903.80 million by 2032 from USD 1,033.45 million in 2022, growing at a CAGR of 6.30% during the forecast period 2022 to 2032.

    Market growth is expected to be bolstered by rapidly improving healthcare infrastructure, increasing awareness about minimally invasive surgery procedures, the widespread adoption and use of technologically advanced medical products, as well as a growing prevalence of chronic diseases like cancer.

    Medical Fiber Optics Market Analysis By Region

    Market Dynamics:

    The rise in minimally invasive surgery is directly due to growing awareness. This has led to a strong demand for fiber optic wires, sensors,s and miniaturized cameras. This drives the market for medical fiber optics in different healthcare settings. Lasers are used extensively in cosmetology, dentistry, and many research studies on the biomedical sensor are underway, which will fuel the growth.

    Non-laser technology is rapidly being replaced by lasers in many healthcare applications. Lasers produce better and more promising outcomes for patients. Femtosecond lasers, which are more precise and accurate than traditional surgery, are used for LASIK eye surgery. Lasers are used in medical applications to increase tissue absorption, which results in less bleeding and faster healing. Lasers are used in many applications, including cosmetic procedures, tattoo removal, diagnosis of diseases, and dentistry. The Refractive Surgery council in 2018 stated that laser vision correction procedures like Photorefractive Keratectomy, Laser-assisted in Situ Keratomileusis, and small incision lenticule removal have increased in the United States over the past three decades.

    According to the 2018 Plastic Surgery Statistics Report in the U.S. approximately 1.0 million hair removals were performed. Around 217,836 people chose laser light treatment for their leg veins, while 594,266 opted for laser skin-resurfacing procedures. Because they transmit data in the form of light or optical signals over long distances with less energy loss, lasers use optical fibers mainly made of silica glass. Optical fibers are ideal for medical lasers due to their high transparency. As lasers are increasingly used in medicine, so is the demand.

    Medical fiber optics are in high demand because of the growing preference for minimally invasive surgery over open surgeries. These surgeries offer many advantages such as minimal incisions and quick post-operative healing. They also have minimal scarring and pain. These surgeries offer a greater accuracy rate than traditional open surgeries in most cases.

    These MIS are also used in routine procedures such as adrenalectomy, which involves the removal of the adrenal glands and the removal of the appendix. They can also be used for cancer surgery to remove the tumor. According to a SAGE journal article, endoscopy is the most common gastrointestinal procedure in the U.K. Each year, approximately 2 million procedures are performed and 4,100 endoscopists work in England.

    The market growth is expected to be slowed by the low adoption of medical fiber optics in underdeveloped and developing countries due to their high cost. Growth is expected to be impeded by a lack of resources and a shortage of skilled surgeons who can operate endoscopes or lasers. While optical cables are experiencing a boom in demand, manufacturers are still manufacturing components like amplifiers, connectors, filters and attenuators manually.

    These components require labor-intensive modifications and customizations across multiple assembly lines. This increases manufacturing costs and makes the final product more expensive. The lack of capital and investment in developing countries and the reticence of market major players to purchase intellectual property rights and technology licenses are limiting the potential for efficient process development.

    Global Medical Fiber Optics Market Scope:

    Fiber Type Analysis

    In terms of ‘Fiber Type’, the ‘Multimode Optical Fibers segment dominated this market in 2021 and represented a revenue share of more than 61.03%. This was due to the widespread use of multimode optical fibers for illumination and surgical lighting applications. Multimode optical fibers are simpler to produce and more affordable. These optical fibers can be used to transmit light waves or signals over shorter distances. They are also used to transport light sources to their destinations. Multimode optical fibers are widely used in developing countries due to their low cost.

    Due to ongoing research on optical-based sensors and the growing demand for high-quality imaging solutions, the ‘Single-Mode Optical Fibers’ segment is expected to experience the fastest rate of growth over the forecast period. Single-mode optical fibers have a higher transmission rate and can travel 50 times farther than multimode optical solutions. They are used in telemedicine and wearables. The emergence of more technologically advanced products will also boost this segment’s growth trajectory. They are used mainly in medical applications, such as OCT (Optical Coherence Tomography) catheters that deliver image transfer signals and sensors to deliver high-intensity signals.

    Application Analysis

    On the basis of ‘Application’, the ‘Illumination’ segment accounted for over 31% of market revenues in 2021. This is due to the increasing use of fiber optics in endoscopies as well as surgical lighting applications. Schott introduced PURAVIS, a glass optical fiber that emits white light. It is ideal for use in operating theatres. The segment is also being driven by the increasing use of high-power light in healthcare therapies like phototherapy and light therapy. Light therapy can also be used to treat anxiety, in tattoo removal procedures, etc.

    The fastest growing segment is expected to be the ‘Biomedical Sensing’ segment over the forecast period. This is due to the increasing use of biomedical sensors in medical devices and wearables, as well as ongoing research concerning sensor technology. Fiber optics are ideal for biomedical sensing because of their flexibility and physical properties. Imaging sensors are also used to perform advanced imaging techniques like Optical Coherence Tomography, (OCT), and photoacoustic imagery.

    OCT is more in demand as the incidence of eye-related conditions continues to increase. This subsequently boosts the demand for optical fiber-based biomedical sensors. Biosensors are used to identify and quantify biochemical molecules such as antigens, antibodies, and enzymes. Researchers are currently using biosensors to detect coronavirus in an early stage. A team of researchers from the Swiss Federal Laboratories for Materials Science and Advanced Technology, ETH Zurich, and Zurich University Hospital created an optical thermal biosensor to detect the coronavirus.

    Кеу Маrkеt Ѕеgmеntѕ:

    By Fiber Type

    • Multimode Optical Fiber
    • Single Mode Optical Fiber

    By Application

    • Laser Signal Delivery
    • Endoscopic Imaging
    • Illumination
    • Biomedical Sensing
    • Other Applications

    Regional Analysis

    The Asia Pacific was the dominant regional market in 2021 and accounted for a revenue share exceeding 31%. Market growth can be attributed primarily to the improving standards of living, increased imports of high-quality medical devices, advanced healthcare infrastructures, favorable government initiatives, and rapid economic developments. To penetrate emerging markets like China and India, major market players have formed strategic alliances and collaborative partnerships.

    Due to the increasing incidence of cancer and a growing awareness concerning the benefits of minimally invasive surgery, the Middle East and Africa are expected to experience the fastest rate of growth over the forecast period. The MEA market is also expected to be influenced by the increasing demand for cosmetic laser surgery. This market is anticipated to be driven by a growing demand for early screening tests to detect various diseases.

    Medical Fiber Optics Market Regional Share

    Key Regions and Countries Covered іn This Rероrt:

    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Russia
      • Spain
      • Rest of Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Rest of Asia-Pacific
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • MEA
      • GCC
      • South Africa
      • Israel
      • Rest of MEA

    Market Share & Key Players Analysis:

    To expand their respective market share and increase competitiveness, key players are now focusing their efforts on innovative product development strategies. Radiall America Inc. purchased Timbercon Inc. in 2020. Timbercon Inc. is an Oregon-based company that manufactures fiber optic cables for data storage and broadcast. Radiall will be able to expand its product portfolio through this acquisition.

    Medical Fiber Optics Market Company Share

    Кеу Маrkеt Рlауеrѕ:

    • Molex
    • Schott
    • AFL
    • Coherent Inc.
    • Leoni
    • Gulf Fiberoptics
    • Molex Incorporated
    • Integra LifeSciences Holdings Corporation
    • Fiberguide
    • Integra Lifesciences Corporation
    • Newport Corporation
    • Fiberoptics Technology Incorporated (FTI)
    • Other Key Players

    For the Medical Fiber Optics Market research study, the following years have been considered to estimate the market size:

    AttributeReport Details

    Market Size in 2022

    USD 1,033.45 Million

    Growth Rate

    6.30%

    Forecast Value in 2032

    USD 1,903.80 Million

    Historical Years

    2016-2020

    Base Year

    2021

    Estimated Year

    2022

    Short Term Projection Year

    2028

    Projected Year

    2023

    Long Term Projection Year

    2032

    Report Coverage

    Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.

    Regional Scope

    North America, Europe, Asia-Pacific, South America, Middle East & Africa

    Country Scope

    United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa

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    Frequently Asked Questions (FAQ)

    What is the size of the Medical Fiber Optics Market in 2022?

    The Medical Fiber Optics Market size is USD 1,033.45 million in 2022.

    What is the projected CAGR at which the Medical Fiber Optics Market is expected to grow at?

    The Medical Fiber Optics Market is expected to grow at a CAGR of 6.30% (2023-2032).

    Name the key business areas for the Medical Fiber Optics Market.

    The US, Canada, China, India, Brazil, South Africa, etc., are leading key areas of operation for the Medical Fiber Optics Market.

    Which region is more appealing for vendors employed in the Medical Fiber Optics Market?

    The Asia Pacific was the dominant regional market in 2021 and accounted for a revenue share exceeding 31%.

    List the segments encompassed in this report on the Medical Fiber Optics Market?

    Market.US has segmented the Medical Fiber Optics Market by geography (North America, Europe, APAC, South America, And Middle East and South Africa). The market has been segmented By By Fiber Type Multimode Optical Fiber and Single Mode Optical Fiber. By Application Laser Signal Delivery, Endoscopic Imaging, Illumination, Biomedical Sensing, and Other Applications.

    Medical Fiber Optics Market
    Medical Fiber Optics Market
    Published date: Nov 2021
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    • Molex
    • Schott AG Company Profile
    • AFL
    • Coherent Inc.
    • Leoni
    • Gulf Fiberoptics
    • Molex Incorporated
    • Integra LifeSciences Holdings Corporation
    • Fiberguide
    • Integra Lifesciences Corporation
    • Newport Corporation
    • Fiberoptics Technology Incorporated (FTI)
    • Other Key Players
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