Medical Fiber Optics Market: Segmentation Based On Product, Application And Region 2022-2029

An influential Medical Fiber Optics market report presents a comprehensive overview, market shares, and growth opportunities of the Medical Fiber Optics market by type, application, key manufacturers and key regions and countries. The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. Executives in marketing, strategic planning and new product development will find discussions in the reports pertinent and useful. This market analysis report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. Medical Fiber Optics report also analyzes key emerging trends and their impact on present and future development.
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.
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The Major Players who are Leading the Market Throughout the Globe 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) and Biolitec AG (Germany)
Medical Fiber Optics Market Segmentation:
By Type (Pure Silica Fiber, Polycrystalline Fiber, Polymer Optical), Usage (Re-usable, Disposable)
By End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Contract Research Organization (CRO), Diagnostic Laboratories)
By Application (Image Transmission, Laser Signal Delivery, Illumination, Laser soldering, Fiber Optic Confocal Scanning)
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
• 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.