Global medical fiber optics market is expected to experience growth over the forecast period owing to continuous miniaturization of medical devices, rising demand for advanced diagnostic technologies and minimally invasive surgeries. Technological advancement in the field of medical fiber optics technology is the key driver of this market. For example, high temperature resistant glass optics used for medical fluorescence imaging applications including toxic materials screening, gene sequencing, and analyte detection. Additionally, increasing application of biomedical sensing optical fiber is further expected to fuel growth. Smaller disposable sensing catheters required in minimally invasive surgery is also anticipated to provide the growth of medical fiber optics market globally.
Segmentation of medical fiber optics market is done on the basis of its types, applications and modes. Types of medical fiber optics are laser, surgical lights, endoscopes, fiber optics dental lights and sensors. Fibers are used for laser light delivery systems, flexible light guide systems, illumination, flexible image bundle and flexible image bundles. In healthcare, fiber optics are used in X-ray imaging, ophthalmic lasers, dental hand pieces, surgical instrumentation, ophthalmic lasers, light therapy, endoscopy and lab & clinical diagnostics. Most commonly optical fibers are used in imaging components of endoscope and illumination. Endoscopic imaging application was found to have significant revenue share, in 2014. Medical fiber optics is immune to radio frequency and electromagnetic signals, ideal for usage in procedures like PET, SPECT, CT and MRI for diagnostic imaging. It is also used in thermal ablative treatments. It has two basic types such as single mode and multiple mode fibers. Core size of single mode fiber is 9 microns in diameter which limits the light transmission while multimode fibers have large core size 50 to 62 microns in diameter which improves the light transmission. For visualization of organs and internal tissues multifibers are used.
Geographic segmentation of medical fiber optics market includes North America, Latin America, Middle East Africa, Asia Pacific and Europe. North America registered the largest market share for medical fiber optics in 2014 due to higher per capita income & healthcare expenditure, well established medical delivery systems and improvised healthcare infrastructure. Presence of medical organizations such as the association of Canadian academic healthcare organization, Canadian healthcare association (CHA) and society of laparoendoscpic surgeons, promoting usage of fiber optics is additionally propelling the demand in this region. European market show moderate growth due to advancing healthcare facilities. Increasing use of endoscopes and supportive government initiatives expected to boost the demand for medical fiber optics. Asia pacific market is growing at rapid pace due to presence of high unmet needs and improving healthcare infrastructure. Increasing awareness about advancement in surgical technologies and larger untapped opportunities are also promoting the growth of Asia Pacific region. Emerging economies such as India and China are anticipated to be the fastest growing markets for medical fiber optics in Asia Pacific region owing to increasing patient awareness levels and rising disposable income levels. Growing geriatric population base and diseases associated with old age are anticipated to fuel the growth of medical fiber optics industry in the coming seven years.
Key players of medical fiber optics market are Timbercon Inc., Timbercon Inc., LEONI AG, Coherent Inc., TRUMPF Group, Vitalcor Inc., American Medical System LLC (AMS), ROFIN-SINAR Technologies Inc., Applied Fibrostics, CardioGenesis Corporation, Sunoptic Technologies Inc., Laserscope, SCHOTT Ag and IPG Photonics. To sustain the competition companies adopting strategies such as new product launch, collaborations, merger & acquisitions and partnership agreements. Geographic expansion especially in the emerging Asia Pacific countries in an attempt to increase market penetration is a remarkable strategy adopted by industry players, which in turn is expected to increase market competitiveness in the near future.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."