Global Medical Fiber Optics Market<b> </b>

Global Medical Fiber Optics Market Size, Share, Growth Analysis, By Fiber type(Single mode optical fiber, multimode optical fiber), By Usage(Disposable surgical laser fiber, and reusable surgical laser fiber), By Application(Endoscopic imaging, biomedical sensing) - Industry Forecast 2023-2030


Report ID: SQMIG35B2072 | Region: Global | Published Date: February, 2024 | Pages: 242 | Tables: 92 | Figures: 76

Global Medical Fiber Optics Market Insights

Medical Fiber Optics Market size was valued at USD 4.34 billion in 2021 and is poised to grow from USD 4.6 billion in 2022 to USD 7.39 billion by 2030, growing at a CAGR of 6.1% in the forecast period (2023-2030).

Medical fiber optics is widely used in fiber optic communications, where it allows light to be transferred over longer distances and at much higher bandwidths than wire cables. Flexible light guide systems, laser light delivery systems, flexible image bundles, illumination, and light conductors are all applications for fibers. The growing percentage of minimally invasive surgeries performed around the world is expected to drive demand for sensors, miniaturised optical cameras, and optic fibres, thereby propelling the medical fibre optics market forward. Minimally invasive surgeries are expected to increase in popularity due to benefits such as faster recovery, smaller incisions, and shorter hospital stays. The procedures are used to treat a variety of conditions, including abdominal pain, hip and knee replacements, and certain types of cancer. However, the big concern of integrating novel technology in the healthcare industry that can assist physicians in efficiently diagnosing and monitoring patients. Furthermore, due to some technical specifications and requirements, solution providers offer a variety of devices that are compatible with specific optical fibres. The market growth is anticipated to be boosted by the use of lasers in dentistry and cosmetology due to better and more promising patient outcomes. Permanent hair removal and tattoo removal are two cosmetology procedures that increasingly make use of lasers. For instance, 23% of people with tattoos later feel regret, according to an article by Astanza. Additionally, laser technology is used in medicine to treat varicose veins, remove kidney stones, remove tumors, and correct eyes. The use of lasers promotes quicker healing and prevents bleeding, which is expected to increase their uptake.

US Medical Fiber Optics Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 4.34 billion

Largest Segment

Multimode

Fastest Growth

Multimode

Growth Rate

6.1% CAGR

Global Medical Fiber Optics Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Medical Fiber Optics Market Size By Fiber Type ($ Bn)
Global Medical Fiber Optics Market Size By Type (%)

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Global Medical Fiber Optics Market Segmental Analysis

Global medical fiber optics market is segmented based on the fiber type, usage, application, and region. Based on fiber type, global Medical Fiber Optics Market is segmented into single mode optical fiber, and multimode optical fiber. Based on usage, the global Medical Fiber Optics Market is segmented into disposable surgical laser fiber, and reusable surgical laser fiber. Based on application, the Medical Fiber Optics Market is segmented into endoscopic imaging, biomedical sensing, endoscopic imaging, illumination, and others. Based on region, Medical Fiber Optics Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Medical Fiber Optics Market Analysis by Fiber Type

Based on fiber type, global medical fiber optics market is segmented into single mode optical fiber, multimode optical fiber, plastic optical fiber, and fiber bundles. Due to the extensive applications of fibres in surgical lighting and illumination solutions, the multimode optical fiber segment is expected to hold the largest share during the forecast period. Furthermore, these fibers are less expensive and easier to produce. These are used to send light waves and signals over short distances, and they are frequently used to send signals from the source of light to the locations.

Because of its high flexibility, elastic limit, and resistance, the plastic optical fiber segment is expected to grow at a significant growth rate during the forecast period. Furthermore, because of their small size, these are sterilizable, biocompatible, and non-invasive, which raises their use in medical applications.

Medical Fiber Optics Market Analysis by Application

Based on application, the global medical fiber optics market is segmented into endoscopic imaging, biomedical sensing, endoscopic imaging, illumination, and others. Because of the growing usage of fibre optics as a source of illumination in endoscopies and as a lighting solution for surgical procedures, the illumination segment is expected to dominate the global market during the forecast period. Furthermore, the increasing use of fibre optics in high-powered lights in healthcare therapies such as phototherapy and light therapy is supposed to propel segment growth during the forecast period.

Due to the use of sensors in wearables and other medical devices, the biomedical sensing segment is expected to grow significantly with the fastest growth rate during the forecast period. Furthermore, the sensors are used to measure temperature of the body, muscle dislocation, and blood pressure.

Global Medical Fiber Optics Market Size By Fiber Type, 2021 (%)

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Global Medical Fiber Optics Market Regional Insights

Asia Pacific is expected to have the largest global medical fiber optics market share with a significant growth rate during the forecast period due to government programs that support healthcare infrastructure and the region's population's standard of living. Furthermore, rising medical tourism in countries such as South Korea, Thailand, and Singapore is projected to spur the region's growth in fiber optics.

Because of the increased prevalence of various manufacturers across the United States, North America is expected to gain momentum in the global medical fibre optics market throughout the forecast period. Furthermore, technological developments and soaring foreign investment are expected to drive regional market growth during the forecast period.

Because of the region's significant industrial growth, Europe is expected to have a high growth rate in the global medical fibre optics market throughout the forecast period. In addition, rising surgical procedures in advanced countries such as Germany, France, and the United Kingdom are expected to drive regional market growth over the forecast period.

Global Medical Fiber Optics Market Size By Geography, 2023-2030
  • Largest
  • Fastest

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Global Medical Fiber Optics Market Dynamics

Medical Fiber Optics Market Driver

  • The rising prevalence of chronic diseases such as cancer, technological breakthroughs in medical devices, increased awareness of minimally invasive surgeries, and rapidly progressing healthcare infrastructure are expected to propel medical fiber optics market expansion over the forecast period.

Medical Fiber Optics Market Restraint 

  • Non-invasive diagnostics and monitoring methods are preferred by many medical professionals and patients for various reasons. Among these are glucose concentrations, hemodynamic monitoring, X-rays, EKGs, ECGs, and so on. As a result, demand for medical fiber optics has significantly decreased. As a result, these factors are predicted to constrain medical fiber optics market growth over the forecast period.

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Global Medical Fiber Optics Market Competitive Landscape

Global medical fiber optics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Medical Fiber Optics Market Top Player's Company Profiles  

  • Carl Zeiss Meditec AG
  • Leica Microsystems GmbH
  • Schott AG
  • Coherent, Inc.
  • TRUMPF GmbH + Co. KG
  • Newport Corporation
  • Lumenis Ltd.
  • IPG Photonics Corporation
  • Schott North America, Inc.
  • Timken Company
  • Excelitas Technologies Corp.
  • VitalView Technologies, Inc.
  • FISBA AG
  • Northrop Grumman Corporation
  • Heraeus Holding GmbH
  • Molex, LLC
  • Fiberoptic Components, LLC
  • ROFIN-SINAR Technologies, Inc.
  • Edmund Optics, Inc.
  • Moxtek, Inc.

Medical Fiber Optics Market Recent Developments

  • In April 2022, Smiths Interconnect expanded its product line by introducing HyperGrip disposable connectors. It is a low-cost solution for single-use medical devices, and it can be used with both a disposable connector and a cycle receptacle.
  • In April 2021, Coractive announced an investment of more than USD 24 million in the development of a cutting-edge fibre optic production facility in Quebec City, Canada.
  • In February 2021, Scientific Bioprocessing announced the release of its Intelligent, Dynamic (ID) Fiber Optic Kit. The kit is a best pH and dissolved oxygen sensing solution that provides real-time, non-invasive, and easily versatile data from the smallest cell culture systems. This is the first cell supervision product proficient of accurately sensing culture conditions within organ-on-a-chip systems; it also provides bioprocessing engineers with novel cell culture sensing opportunities.

Global Medical Fiber Optics Key Market Trends

  • Endoscopy is becoming more common in hospitals because it reduces risk by enabling for more accurate diagnosis through direct imaging of the affected area. Endoscopic imaging is also less invasive than other diagnostic and therapeutic options, lowering costs by shortening hospital stays. Thus, the surge in the prevalence of endoscopic procedures including such bronchoscopy, colonoscopy, laparoscopy, and thoracoscopy, among others, is expected to propel the market for medical fiber optics for improved illumination and detection over the next eight years.

Global Medical Fiber Optics Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global medical fiber optics market analysis, Asia Pacific region is anticipated to grow significantly during the analysis period because of the availability of key players planning to invest in developing countries is expected to boost market growth in the region. Medical fibre optics can be used to diagnose and analyse ulcers, which is expected to accelerate the global market growth during the study period. However, the market growth may be hampered by factors such as the cancellation of non-essential surgical procedures such as dentistry and cosmetology.

Report Metric Details
Market size value in 2021 USD 4.34 billion
Market size value in 2030 USD 7.39 billion
Growth Rate 6.1%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Fiber type
    • Single mode optical fiber, multimode optical fiber, plastic optical fiber, and fiber bundles
  • Usage
    • Disposable surgical laser fiber, and reusable surgical laser fiber
  • Application
    • Endoscopic imaging, biomedical sensing, endoscopic imaging, illumination, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Carl Zeiss Meditec AG
  • Leica Microsystems GmbH
  • Schott AG
  • Coherent, Inc.
  • TRUMPF GmbH + Co. KG
  • Newport Corporation
  • Lumenis Ltd.
  • IPG Photonics Corporation
  • Schott North America, Inc.
  • Timken Company
  • Excelitas Technologies Corp.
  • VitalView Technologies, Inc.
  • FISBA AG
  • Northrop Grumman Corporation
  • Heraeus Holding GmbH
  • Molex, LLC
  • Fiberoptic Components, LLC
  • ROFIN-SINAR Technologies, Inc.
  • Edmund Optics, Inc.
  • Moxtek, Inc.
Customization scope

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  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Medical Fiber Optics Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Medical Fiber Optics Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Medical Fiber Optics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Medical Fiber Optics Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Medical Fiber Optics Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Medical Fiber Optics Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Medical Fiber Optics Market size was valued at USD 4.34 billion in 2021 and is poised to grow from USD 4.6 billion in 2022 to USD 7.39 billion by 2030, growing at a CAGR of 6.1% in the forecast period (2023-2030).

Global medical fiber optics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Carl Zeiss Meditec AG', 'Leica Microsystems GmbH', 'Schott AG', 'Coherent, Inc.', 'TRUMPF GmbH + Co. KG', 'Newport Corporation', 'Lumenis Ltd.', 'IPG Photonics Corporation', 'Schott North America, Inc.', 'Timken Company', 'Excelitas Technologies Corp.', 'VitalView Technologies, Inc.', 'FISBA AG', 'Northrop Grumman Corporation', 'Heraeus Holding GmbH', 'Molex, LLC', 'Fiberoptic Components, LLC', 'ROFIN-SINAR Technologies, Inc.', 'Edmund Optics, Inc.', 'Moxtek, Inc.'

The rising prevalence of chronic diseases such as cancer, technological breakthroughs in medical devices, increased awareness of minimally invasive surgeries, and rapidly progressing healthcare infrastructure are expected to propel medical fiber optics market expansion over the forecast period.

Endoscopy is becoming more common in hospitals because it reduces risk by enabling for more accurate diagnosis through direct imaging of the affected area. Endoscopic imaging is also less invasive than other diagnostic and therapeutic options, lowering costs by shortening hospital stays. Thus, the surge in the prevalence of endoscopic procedures including such bronchoscopy, colonoscopy, laparoscopy, and thoracoscopy, among others, is expected to propel the market for medical fiber optics for improved illumination and detection over the next eight years.

Asia Pacific is expected to have the largest global medical fiber optics market share with a significant growth rate during the forecast period due to government programs that support healthcare infrastructure and the region's population's standard of living. Furthermore, rising medical tourism in countries such as South Korea, Thailand, and Singapore is projected to spur the region's growth in fiber optics.

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Global Medical Fiber Optics Market<b> </b>

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