New York, June 01, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research, demand for the European medical fibre optics market is forecast to increase at a high-value CAGR of 8.3% from 2023 to 2033. The report forecasts that the valuation of the market will reach US$666.7 million by the end of 2033.
Medical fiber optics is a technology that uses thin and flexible glass or plastic fibers to transmit light within the human body for medical applications such as illumination, imaging, and sensing. This technology enables medical professionals to perform minimally invasive procedures with greater accuracy and precision by providing clear visual images of the internal organs and tissues. Medical fiber optics are commonly used in endoscopic procedures, which allow medical professionals to examine and treat internal organs and tissues without the need for invasive surgery.
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Key Takeaways from Market Study
- The European market for medical fiber optics is estimated at US$ 299.9 million in 2023.
- By application, the illumination segment accounted for 33.1% share of the European market in 2022.
- Demand for medical fiber optics in Europe is estimated to surge ahead at a CAGR of 8.3% during the forecast period (2023 to 2033).
- Germany is estimated to be the market leader for medical fiber optics in Europe with a market share of 24.4%, followed by France with a market share of 19.2%.
“Europe market is anticipated to exhibit a substantial increase in the demand for medical fiber optics due to the rising need for advanced medical imaging technologies such as endoscopes and laparoscopes. Medical fiber optics enable visualization of internal body structures. Factors such as rising adoption of minimally invasive surgeries, increasing demand for advanced medical imaging technologies, and greater investments in healthcare infrastructure & facilities are set to drive market growth over the coming years,” says a Persistence Market Research analyst.
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Extensive Utilization of Fiber Optics in Image Transmission for Seamless Diagnosis
Development of optical fiber image bundles has garnered significant interest in many nations due to their widespread use in military and industrial detection systems as well as medical endoscopes. High resolution and excellent image quality are essential requirements for these applications.
Resolution refers to the ability of optical fiber image transmission components to resolve fine details. The ability to resolve image details is stronger if the resolution is higher.
Competitive Landscape
Important key players for Medical Fiber Optics Market in Europe are Schott AG, Leoni AG, Newport Corporation, biolitec AG, Boston Scientific, IPG Photonics, OFS Optics, Trimedyne, Inc, Coherent, Inc, Molex LLC, Integra LifeSciences Holdings Corporation, Fiberoptics Technology Inc, Timbercon, Inc, Gulf Medical Fiberoptics and more
Here are some recent developments of companies in the European medical fiber optics market:
- In 2022, Olympus Corporation launched a new line of fiber optic bronchoscopes that are designed to improve the accuracy and efficiency of bronchoscopy procedures.
- In 2021, Richard Wolf GmbH introduced a new fiber optic camera system that provides surgeons with a high-resolution image of the surgical field.
- In 2020, Karl Storz SE & Co. KG introduced a new line of fiber optic endoscopes that are designed to provide surgeons with a better view of the surgical field.
More Valuable Insights on Offer
Persistence Market Research’s report on the Europe medical fiber optics market is segmented into application (image transmission, illumination, laser signal delivery, fiber optic confocal scanning, others) and country (Germany, Italy, France, U.K., Spain, Benelux, Russia, and the Rest of Europe).
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For additional information on how the Europe medical fiber optics market will shape up in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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About the Electronics, Semiconductors, and ICT Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations—the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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