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 2024-2031

Medical Fiber Optics Market size was valued at USD 4.34 billion in 2019 and is poised to grow from USD 4.6 billion in 2023 to USD 7.39 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).

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.