Dublin, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The "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 has been added to ResearchAndMarkets.com's offering.
The global medical fiber optics market size is expected to reach USD 1.6 billion by 2030. It is expected to expand at a CAGR of 6.0% from 2022 to 2030. The market growth can be credited to the advancements in healthcare infrastructure, readiness to adopt technologically advanced products, growing prevalence of cancer, and rising awareness regarding minimally invasive surgeries.
The growing adoption of laser technology in various healthcare services and a surge in endoscopic procedures for diagnostic and therapeutic purposes are the key factors fueling the market growth. The growing trend of opting for minimally invasive surgeries over conventional open surgeries owing to the benefits associated with minimally invasive surgeries, such as reduced hospitalization, minimized infection risk, and quicker recovery periods is driving the demand for medical fiber optics.
The ongoing COVID-19 pandemic burdened the healthcare systems resulting in massive structural reforms in healthcare facilities, which led to the postponement of elective surgeries and procedures, thereby negatively impacting supply and demand chains, manufacturing cycles, and sales and revenue cycles. Surgeons are rapidly adopting minimally invasive surgical practices since they reduce hospitalization and minimize the risk of contracting infections. Market players are collaborating and partnering with experts to introduce innovative products.
The multimode optical fiber type segment dominated the market in 2021 owing to the cost-effectiveness and widespread adoption of these products in illumination and surgical lighting purposes. Single-mode optical fibers are anticipated to grow lucratively over the forthcoming years owing to the higher transmission capability and growing demand for advanced imaging solutions.
The illumination application segment dominated the market in 2021 owing to the growing demand for illumination in endoscopic procedures and lighting in surgical procedures. The growing trend of using illumination in light therapy and phototherapy is boosting segment growth. Biomedical sensing is expected to witness significant growth over the forthcoming years owing to the widespread adoption of biomedical sensing in medical devices and wearables. Asia Pacific dominated the market in 2021 owing to the improving healthcare infrastructure, rapid economic development, and growing favorable government initiatives.
Medical Fiber Optics Market Report Highlights
- The market growth can be attributed to the growing adoption rates of minimally invasive surgeries and the growing prevalence of chronic diseases such as cancer
- The multimode optical fiber type segment dominated the market in 2021 owing to the cost-effectiveness and widespread utilization in illumination and surgical lighting
- The illumination application segment dominated the market in 2021 owing to the growing adoption of illumination in endoscopic procedures and as lighting sources in surgical procedures
- Asia Pacific dominated the market in 2021 owing to the growing imports of high-quality medical devices and increasing medical tourism in several countries
Key Topics Covered:
Chapter 1 Methodology And Scope
Chapter 2 Executive Summary
Chapter 3 Medical Fiber Optics Market Variables, Trends & Scope
3.1 Market Segmentation And Scope
3.2 Penetration And Growth Prospect Mapping
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 Increasing Number Of Minimally Invasive Surgeries
3.3.1.2 Growing Adoption Of Laser Technology
3.3.1.3 Increasing Need For Early Cancer Detection
3.3.2 Market Restraint Analysis
3.3.2.1 High Cost Of Optic Fibers
3.3.3 Industry Challenges
3.4 Medical Fiber Optics Market Analysis Tools
3.4.1 Industry Analysis-Porter's
3.4.1.1 Bargaining Power Of Suppliers-Low
3.4.1.2 Bargaining Power Of Buyers-Low
3.4.1.3 Threat Of Substitution-Moderately Low
3.4.1.4 Threat Of New Entrants-Moderately Low
3.4.1.5 Competitive Rivalry-Moderately High
3.4.2 Pestel Analysis
3.4.2.1 Political Landscape
3.4.2.2 Economic Landscape
3.4.2.3 Social Landscape
3.4.2.4 Technology Landscape
3.4.2.5 Legal Landscape
Chapter 4 Medical Fiber Optics Market: Competitive Landscape Analysis
4.1 Recent Developments & Impact Analysis, By Key Market Participants
4.1.1 Recent Development Analysis
4.1.2 Product Launches
4.2 Company Market Position Analysis (Geographic Presence, Product Portfolio, Key Alliance, And Industry Experience)
4.3 Key Company Market Share Analysis, 2021
4.4 Synergy Analysis: Major Deals And Strategic Alliances
Chapter 5 Medical Fiber Optics Market: Fiber Type Estimates & Trend Analysis
5.1 Segment Dashboard
5.2 Medical Fiber Optics Market: Fiber Type Movement Analysis, 2021 & 2030 (USD Million)
5.3 Single Mode Optical Fiber
5.3.1 Single Mode Optical Fiber Market Estimates And Forecasts, 2016-2030 (USD Million)
5.4 Multimode Optical Fiber
5.4.1 Multimode Optical Fiber Market Estimates And Forecasts, 2016-2030 (USD Million)
Chapter 6 Medical Fiber Optics Market: Application Estimates & Trend Analysis
6.1 Medical Fiber Optics Market: Application Movement Analysis, 2021 & 2030 (USD Million)
6.2 Endoscopic Imaging
6.2.1 Endoscopic Imaging Market Revenue Estimates And Forecasts, 2016-2030 (USD Million)
6.3 Laser Signal Delivery
6.3.1 Laser Signal Delivery Market Revenue Estimates And Forecasts, 2016-2030 (USD Million)
6.4 Biomedical Sensing
6.4.1 Biomedical Sensing Market Revenue Estimates And Forecasts, 2016-2030 (USD Million)
6.5 Illumination
6.5.1 Illumination Market Revenue Estimates And Forecasts, 2016-2030 (USD Million)
6.6 Others
6.6.1 Others Market Revenue Estimates And Forecasts, 2016-2030 (USD Million)
Chapter 7 Medical Fiber Optics Market: Regional Estimates & Trend Analysis, By Fiber Type And Application
Chapter 8 Medical Fiber Optics Market: Competitive Landscape Analysis
8.1 Company Profiles
8.1.1 Integra Lifesciences Corporation
8.1.1.1 Company Overview
8.1.1.2 Financial Performance
8.1.1.3 Product Benchmarking
8.1.1.4 Strategic Initiatives
8.1.2 Fiberoptics Technology Incorporated (FTI)
8.1.2.1 Company Overview
8.1.2.2 Product Benchmarking
8.1.3 AFL
8.1.3.1 Company Overview
8.1.3.2 Product Benchmarking
8.1.4 Molex
8.1.4.1 Company Overview
8.1.4.2 Product Benchmarking
8.1.4.3 Strategic Initiatives
8.1.5 COHERENT, INC.
8.1.5.1 Company Overview
8.1.5.2 Financial Performance
8.1.5.3 Product Benchmarking
8.1.6 Timbercon, INC.
8.1.6.1 Company Overview
8.1.6.2 Product Benchmarking
8.1.6.3 Strategic Initiatives
8.1.7 Gulf Fiberoptics
8.1.7.1 Company Overview
8.1.7.2 Product Benchmarking
8.1.8 LEONI
8.1.8.1 Company Overview
8.1.8.2 Financial Performance
8.1.8.3 Product Benchmarking
8.1.8.4 Strategic Initiatives
8.1.9 Newport Corporation
8.1.9.1 Company Overview
8.1.9.2 Product Benchmarking
8.1.9.3 Strategic Initiatives
8.1.10 SCHOTT
8.1.10.1 Company Overview
8.1.10.2 Financial Performance
8.1.10.3 Product Benchmarking
For more information about this report visit https://www.researchandmarkets.com/r/k34vwv
