Medical Fiber Optics Market Size, Share & Trends Analysis Report By Fiber Type (Single Mode Optical Fiber, Multimode Optical Fiber), By Application, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global medical fiber optics market size was valued at USD 927.9 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030. The rapidly advancing healthcare infrastructure, growing awareness regarding minimally invasive surgical procedures, widespread adoption of technologically advanced medical products, growing prevalence of chronic diseases such as cancer, and a significant surge of endoscopic procedures for diagnostic and therapeutic purposes are expected to bolster the market growth.

Growing awareness regarding the benefits associated with minimally invasive surgeries is directly contributing to the surge in the number of procedures, creating a strong demand for fiber optic wires, sensors, and miniaturized cameras, thereby driving the market for medical fiber optics in various healthcare settings. Furthermore, lasers are being widely used in cosmetology and dentistry and numerous research studies are being conducted on biomedical sensors, which is expected to fuel the growth.

Lasers are rapidly replacing non-laser technologies in various healthcare applications and produce better, promising patient outcomes. For instance, femtosecond lasers are being used in LASIK eye surgeries instead of traditional surgeries as they provide more accuracy and precision. The use of lasers in medical applications enhances more tissue absorption causing less bleeding and faster healing. Lasers are therefore being used for various applications such as diseases diagnosis, dentistry, cosmetics procedures, and tattoo removal. According to the Refractive Surgery Council in 2018, laser vision correction procedures such as Photorefractive Keratectomy (PRK), Laser-assisted In Situ Keratomileusis (LASIK), and small incision lenticule extraction have been increasing in the U.S. since the past 3 decades.

COVID-19 medical fiber optics market impact: an increase of 5.2% market growth between 2020 and 2021

According to the 2018 Plastic Surgery Statistics Report, in the U.S., approximately 1.0 million hair removal procedures were performed and around 217,836 people opted for laser treatment for leg veins and 594,266 people opted for laser skin resurfacing procedures. Lasers use optical fibers mostly made up of silica glass as they are capable of transmitting data in the form of light or optical signals over a longer distance with less energy loss. The high transparency offered makes optical fibers an ideal option for medical lasers. Hence, as the adoption of lasers in the medical field is increasing, the demand is rising.

The growing trend of opting for minimally invasive surgeries over conventional open surgeries is growing as an option for diagnostic and therapeutic purposes, thereby, driving the demand for medical fiber optics. These surgeries have several advantages, such as small-sized incisions, short post-operative healing time, and minimal pain and scarring. In most cases, these surgeries have even offered a higher accuracy rate when compared with conventional open surgeries.

Moreover, these MIS have even become standard surgical techniques in many routine operations, such as adrenalectomy for removal of adrenal glands, removal of the appendix, cancer surgery for the destruction of the tumor, hiatal hernia repair, and others. According to an article published in SAGE journals in 2019, endoscopy was the most commonly performed gastrointestinal procedure in the U.K., and each year approximately around 2 million procedures are performed, and around 4,100 endoscopists practice in England alone.

However, the low adoption rate of medical fiber optics in developing and under-developing nations due to the high cost involved is expected to restrain the market growth. The lack of adequate resources and prominent shortage of skilled surgeons operating endoscopes and lasers are anticipated to obstruct growth. Although optical cables are witnessing a surge in demand across global markets, manufacturers are manufacturing the components such as amplifiers, lasers, switches, filters, attenuators, and connectors manually.

These components often require labor-intensive adjustments and customizations across assembly lines, which adds to the manufacturing costs, making the end-product expensive. Adoption rates in developing and under-developed countries are inhibited due to the lack of capital and investment and market players are reluctant towards purchasing intellectual property rights or technology licenses, thereby restraining the scope of development of efficient processes.

Fiber Type Insights

In 2021, the multimode optical fiber segment dominated the market and accounted for a revenue share of over 60.0% owing to the widespread adoption of multimode optical fibers in illumination solutions and surgical lighting purposes. The multimode optical fibers are easier to manufacture and more economical. These optical fibers are used when a signal or a light wave has to be transmitted over a shorter distance and are often used in transporting light from the laser source to the locations. Due to the low cost of multimode optical fibers, they are being widely used in developing nations.

Single-mode optical fibers are anticipated to register the fastest growth rate over the forecast period owing to the numerous ongoing research studies on optic-based sensors and growing demand for advanced imaging solutions. Furthermore, single-mode optical fibers possess higher transmission and can cover 50 times more distance compared to multimode optical fibers and they are being used in telemedicine and wearables and the emergence of technologically advanced products is expected to boost the growth of this segment. They are mostly used in medical applications such as Optical Coherence Tomography (OCT) catheters to deliver image signals or as sensors for the delivery of high-intensity signals.

Application Insights

In 2021, the illumination segment dominated the market and accounted for a revenue share of over 30.0% owing to the growing adoption of fiber optics as a source of illumination in endoscopies and as lighting solutions used in surgical procedures. For instance, Schott introduced PURAVIS - a glass optical fiber that emits white light and is ideally suitable for use in operation theatres. Furthermore, the growing usage of high-power lights in healthcare therapies such as light therapy and phototherapy is driving the segment. Moreover, light therapy is being used in hair removal, tattoo removal, and treating mental disorders such as anxiety.

Biomedical sensing is anticipated to register the fastest growth rate over the forecast period owing to the growing use of biomedical sensors in medical devices and wearables and several ongoing research studies on sensor technology. Furthermore, fiber optics owing to their physical properties and flexibility in remote sensing make them an ideal option for biomedical sensing. In addition, imaging sensors are being used for advanced imaging techniques such as Optical Coherence Tomography (OCT) and photoacoustic imaging.

Hence, as the prevalence of eye-related disorders increases, the demand for OCT increases. This further boosts the demand for optic fiber-based biomedical sensors. Biological sensors are being used for identifying and quantifying biochemical molecules, such as antibodies, antigens, and enzymes. Researchers currently are using biosensors for detecting coronavirus at an early stage. Recently, a team of researchers at The Swiss Federal Laboratories for Materials Science and Technology (Empa), ETH Zurich, and Zurich University Hospital developed an optical thermal biosensor for detecting the presence of coronavirus.

Regional Insights

In 2021, Asia Pacific dominated the market and accounted for a revenue share of over 30.0%. The market growth can be attributed to the improving standard of living, growing imports of high-quality medical devices, increasing medical tourism, advancing healthcare infrastructure, increasing favorable government initiatives, and rapid economic development. Key players are undertaking collaborative partnerships and strategic alliances to enter emerging economies such as China and India.

The Middle East and Africa region is anticipated to register the fastest growth rate over the forecast period owing to the growing incidence rate of cancer, growing awareness of benefits associated with minimally invasive surgeries, and constant developments in healthcare infrastructure. Furthermore, the growing preference for cosmetic laser surgeries is expected to fuel the growth of the MEA market. Moreover, the increasing need for early screening tests for detecting various types of diseases is anticipated to drive the market over the forecast period.

Key Companies & Market Share Insights

Key players are focusing on their innovative product development strategies and devising their partnerships, collaborations, and merger & acquisition strategies to expand their business footprint and gain a competitive edge in the market. For instance, in January 2020, Radiall America Inc. acquired Timbercon Inc., an Oregon-based company manufacturing fiber optic cables for data storage, defense, medical, aerospace, industrial, broadcast, and telecommunications markets. Through this acquisition, Radiall would be able to expand its product portfolios. Some prominent players in the global medical fiber optics market include:

• Molex

• AFL

• Schott

• Integra Lifesciences Corporation

• Fiberoptics Technology Incorporated (FTI)

• Coherent Inc.

• Gulf Fiberoptics

Medical Fiber Optics Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2030. For the purpose of this study, Grand View Research, Inc. has segmented the global medical fiber optics market report on the basis of fiber type, application, and region:

• Fiber Type Outlook (Revenue, USD Million, 2016 - 2030)

  • Single Mode Optical Fiber

  • Multimode Optical Fiber

• Application Outlook (Revenue, USD Million, 2016 - 2030)

  • Endoscopic Imaging

  • Laser Signal Delivery

  • Biomedical Sensing

  • Illumination

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Singapore

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE