Portland, OR, May 10, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global optical fibers in endoscopy market generated $869.02 million in 2020, and is expected to reach $1.5 billion by 2030, manifesting a CAGR of 5.4% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in number of aging population with high risk of chronic disorders such as cancer, neurological, and gastrointestinal diseases, technological advancements, and patient preference for early detection of diseases drive the growth of the global optical fibers in endoscopy market. Furthermore, increase in number of product approvals and the launch of cancer prevention programs by healthcare organizations present new opportunities in the coming years.
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Impact of Covid-19 Pandemic on Optical Fibers in Endoscopy Market:
- During the Covid-19 pandemic, many non-elective procedures were postponed as the resources in hospitals and clinics were shifted to take care of rise in patients infected with Covid-19 and preventive measures were taken to avoid possibility of cross-contamination. These non-elective procedures involved endoscopy procedures.
- The demand for optical fibers in endoscopy lowered considerably as endoscopy processes were either canceled or postponed. However, the demand is expected to recover post-pandemic.
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The report offers detailed segmentation of the global optical fibers in endoscopy market based on material, type, and region.
Based on material, the glass optic fibers (GOF) in endoscopy segment accounted for the highest share in 2020, contributing to more than four-fifths of the total share, and is estimated to continue its lead position during the forecast period. However, the plastic optic fibers (POF) in endoscopy segment is expected to witness the highest CAGR of 7.3% from 2021 to 2030.
Based on type, the flexible endoscopy segment held the highest share in 2020, contributing to nearly three-fourths of the total share of the global optical fibers in endoscopy market, and is projected to continue its leadership status during the forecast period. Moreover, this segment is estimated to manifest the fastest CAGR of 5.8% from 2021 to 2030. The report also analyzes the rapid endoscopy segment.
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Based on region, North America contributed to the highest share in 2020, accounting for more than two-fifths of the total market share, and is expected to continue its dominance in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the largest CAGR of 6.2% during the forecast period.
Leading players of the global optical fibers in endoscopy market analyzed in the research include Boston Scientific Corporation, Fujifilm Holdings Corporation, Cognetix Medical, Karl Storz GmbH & Co. KG, Happersberger Otopront GmbH, Pentax Medical, Olympus Corporation, Vimex SP.Z O.O (Vimex Endoscopy), Strauss Surgical, and Xion GmbH.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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