Westford USA, April 12, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the Medical Fiber Optics market will attain a value of USD 71.10 billion by 2030, with a CAGR of 5.4% over the forecast (2022-2030). The usage of lasers in dentistry and cosmetology is predicted to fuel market expansion due to better and more promising patient outcomes. Two cosmetic procedures that use lasers more frequently include permanent hair removal and tattoo removal. For instance, a study by Astanza found that 23% of tattoo owners eventually experience regret. In addition, the use of lasers in medical procedures for kidney stone removal, tumour removal and eye correction. It is anticipated that the use of lasers would grow because of quickly wounds heal and how well they stop bleeding.
According to the SkyQuest's, in addition, while the demand for MIS is growing, so the acceptance of such techniques in gynaecological surgeries also increases, according to another study published by Cedars Sinai in January 2022. According to the above-mentioned source, the gynaecology at Cedars-Sinai reported that roughly 400 gynaecological procedures and annually carried out using 99% minimally invasive techniques. As a result, the analysis demonstrates that there is a rising demand for MIS, which is also driving up demand for Medical Fibre Optics. hence anticipated to fuel market expansion.
Browse in-depth TOC on "Medical Fiber Optics Market"
- Pages - 242
- Tables - 92
- Figures – 70
Medical Fibre Optics is frequently employed in fibre optic, which enables light to be transmitted over longer distances and at considerably higher bandwidths than wire lines. Applications for fibres include flexible light guide systems, laser light delivery systems, flexible picture bundles, lighting and light conductors. The demand for sensors, miniature optical cameras and optical fibres is anticipated to increase as the number of minimally invasive procedures conducted globally rises, boosting the growth of the Medical Fibre Optics market.
Prominent Players in Medical Fiber Optics Market
- Integra Lifesciences Corporation
- Coherent, Inc.
- Fiberoptics Technology Incorporated
- AFL
- Timbercon, Inc.
- Gulf Fiberoptics
- LEONI
- Newport Corporation
- LEMO
- Schott
- Hirose Electric Co. Ltd.
- Fischer Connectors SA
- ODU GmbH & Co. KG
- Molex, LLC
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Multimode Optical Fibre Segment Dominates the Market Due to Enabling Doctors and Surgeons to Perform Procedures with Greater Precision and Accuracy
The multimode optical fibre segment, which had the biggest share of 45.3% in 2022, is predicted to exhibit a CAGR of 6.5% over the forecast period due to the numerous uses for fibres in surgical lighting and illumination solutions. Moreover, these fibres are cheaper and simpler to produce. They are employed to send signals and light waves over small distances, and they are frequently used to send information from the light source to the places.
North America is anticipated to dominate in the global Medical Fibre Optics market over the forecast period due to the rising prevalence of various manufacturers throughout the United States. Additionally, it is anticipated that the growth of the regional market will be fueled by rapid foreign investment and technical advancements.
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Plastic Optical Fibre Segment Is Expected to Grow the Market Due to High Flexibility
The plastic optical fibre segment is predicted to have profitable growth at a CAGR of 7.0% throughout the forecast period due to its high flexibility, elastic limit and resilience. Additionally, because to their small size, they are sterilizable, biocompatible, and non-invasive, which boosts their use in medical applications. Moreover, fibres can be modified based on their diameter. Furthermore, the need for fibres is anticipated to increase as a result of technical developments in data transmission, electronics, and material processing.
Asia Pacific is anticipated to hold the biggest worldwide market share for Medical Fibre Optics throughout the forecast period due to government initiatives that promote healthcare infrastructure and the high level of living of the population in the region. In addition, expanding medical tourism in nations like South Korea, Thailand, and Singapore is anticipated to fuel the expansion of fibre optics in the region.
A comprehensive analysis of the major players in the Medical Fiber Optics market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Medical Fiber Optics Market
- HyperGrip disposable connectors were added to Smiths Interconnect's product lineup in April 2022. It works with both a cycle receptacle and a disposable connector, making it an affordable solution for single-use medical devices.
- Coractive announced in April 2021 that it would invest more than USD 24 million in Quebec City, Canada, to build a state-of-the-art fibre optic production facility.
Key Questions Answered in Medical Fiber Optics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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