May 21, 2024

Medical Fiber Optics Market to Expand at a CAGR of 6.02% from 2021 to 2030

The global medical fiber optics market size was valued at USD 920.9 million in 2020, and is predicted to be worth around USD 2.6 billion by 2030, registering a CAGR of 6.02% during the forecast period 2022 to 2030.

Medical Fiber Optics

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Medical Fiber Optics Market Growth Factors

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.

Medical Fiber Optics Market Report Coverage
Report Scope Details
Market Size US$ 2.6 billion by 2030
Growth Rate CAGR of 6.02% From 2022 to 2030
Largest Market Asia Pacific
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Fiber type, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Molex; Schott; Fiberoptics Technology Incorporated (FTI); Coherent, Inc.; Integra Lifesciences Corporation; Newport Corporation; AFL; Leoni; Gulf Fiberoptics; Timbercon, Inc.

By Fiber Type Analysis

The multimode optical fiber segment dominated the market and accounted for a revenue share of over 60.0% owing to the widespread adoption of multimode optical fibers in illumination solutions and surgical lighting purposes.

These optical fibers are used when a signal or a light wave has to be transmitted over a shorter distance and are often used in transporting light from the laser source to the locations. Single-mode optical fibers are anticipated to register the fastest growth rate over the forecast period owing to the numerous ongoing research studies on optic-based sensors and growing demand for advanced imaging solutions.

Compared to multimode optical fibers and they are being used in telemedicine and wearables and the emergence of technologically advanced products is expected to boost the growth of this segment. They are mostly used in medical applications such as Optical Coherence Tomography (OCT) catheters to deliver image signals or as sensors for the delivery of high-intensity signals.

By Application Analysis

The illumination segment dominated the market and accounted for a revenue share of over 30.0% owing to the growing adoption of fiber optics as a source of illumination in endoscopies and as lighting solutions used in surgical procedures.

The growing usage of high-power lights in healthcare therapies such as light therapy and phototherapy is driving the segment. Biomedical sensing is anticipated to register the fastest growth rate over the forecast period owing to the growing use of biomedical sensors in medical devices and wearables and several ongoing research studies on sensor technology.  Imaging sensors are being used for advanced imaging techniques such as Optical Coherence Tomography (OCT) and photoacoustic imaging.

Researchers currently are using biosensors for detecting coronavirus at an early stage. Recently, a team of researchers at The Swiss Federal Laboratories for Materials Science and Technology (Empa), ETH Zurich, and Zurich University Hospital developed an optical thermal biosensor for detecting the presence of coronavirus.

By Regional Analysis

Asia Pacific dominated the market and accounted for a revenue share of over 30.0%. The market growth can be attributed to the improving standard of living, growing imports of high-quality medical devices, increasing medical tourism, advancing healthcare infrastructure, increasing favorable government initiatives, and rapid economic development.

The Middle East and Africa region is anticipated to register the fastest growth rate over the forecast period owing to the growing incidence rate of cancer, growing awareness of benefits associated with minimally invasive surgeries, and constant developments in healthcare infrastructure.

Read also @ Defibrillator Market to Reach US$ 20.8 Bn by 2030

Major Key Players Covered in The Medical Fiber Optics Market Report include
  • Molex
  • AFL
  • Schott
  • Integra Lifesciences Corporation
  • Fiberoptics Technology Incorporated (FTI)
  • Coherent Inc.
  • Gulf Fiberoptics
Medical Fiber Optics Market Segmentation
  • By Fiber Type
    • Single Mode Optical Fiber
    • Multimode Optical Fiber
  • By Application
    • Endoscopic Imaging
    • Laser Signal Delivery
    • Biomedical Sensing
    • Illumination
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Singapore
      • Australia
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Medical Fiber Optics Market, By Fiber Type

7.1.  Medical Fiber Optics Market, by Fiber Type, 2021-2030

7.1.1.    Single Mode Optical Fiber

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Multimode Optical Fiber

7.1.2.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Medical Fiber Optics Market, By Application

8.1.  Medical Fiber Optics Market, by Application, 2021-2030

8.1.1.    Endoscopic Imaging

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Laser Signal Delivery

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Biomedical Sensing

8.1.3.1.        Market Revenue and Forecast (2017-2030)

8.1.4.    Illumination

8.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Medical Fiber Optics Market, Regional Estimates and Trend Forecast

9.1.  North America

9.1.1.    Market Revenue and Forecast, by Fiber Type (2017-2030)

9.1.2.    Market Revenue and Forecast, by Application (2017-2030)

9.1.3.    U.S.

9.1.3.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.1.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.1.4.    Rest of North America

9.1.4.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.1.4.2.        Market Revenue and Forecast, by Application (2017-2030)

9.2.  Europe

9.2.1.    Market Revenue and Forecast, by Fiber Type (2017-2030)

9.2.2.    Market Revenue and Forecast, by Application (2017-2030)

9.2.3.    UK

9.2.3.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.2.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.2.4.    Germany

9.2.4.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.2.4.2.        Market Revenue and Forecast, by Application (2017-2030)

9.2.5.    France

9.2.5.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.2.5.2.        Market Revenue and Forecast, by Application (2017-2030)

9.2.6.    Rest of Europe

9.2.6.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.2.6.2.        Market Revenue and Forecast, by Application (2017-2030)

9.3.  APAC

9.3.1.    Market Revenue and Forecast, by Fiber Type (2017-2030)

9.3.2.    Market Revenue and Forecast, by Application (2017-2030)

9.3.3.    India

9.3.3.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.3.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.3.4.    China

9.3.4.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.3.4.2.        Market Revenue and Forecast, by Application (2017-2030)

9.3.5.    Japan

9.3.5.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.3.5.2.        Market Revenue and Forecast, by Application (2017-2030)

9.3.6.    Rest of APAC

9.3.6.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.3.6.2.        Market Revenue and Forecast, by Application (2017-2030)

9.4.  MEA

9.4.1.    Market Revenue and Forecast, by Fiber Type (2017-2030)

9.4.2.    Market Revenue and Forecast, by Application (2017-2030)

9.4.3.    GCC

9.4.3.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.4.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.4.4.    North Africa

9.4.4.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.4.4.2.        Market Revenue and Forecast, by Application (2017-2030)

9.4.5.    South Africa

9.4.5.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.4.5.2.        Market Revenue and Forecast, by Application (2017-2030)

9.4.6.    Rest of MEA

9.4.6.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.4.6.2.        Market Revenue and Forecast, by Application (2017-2030)

9.5.  Latin America

9.5.1.    Market Revenue and Forecast, by Fiber Type (2017-2030)

9.5.2.    Market Revenue and Forecast, by Application (2017-2030)

9.5.3.    Brazil

9.5.3.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.5.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.5.4.    Rest of LATAM

9.5.4.1.        Market Revenue and Forecast, by Fiber Type (2017-2030)

9.5.4.2.        Market Revenue and Forecast, by Application (2017-2030)

Chapter 10.  Company Profiles

10.1.              Molex

10.1.1.  Company Overview

10.1.2.  Fiber Type Offerings

10.1.3.  Financial Performance

10.1.4.  Recent Initiatives

10.2.              AFL

10.2.1.  Company Overview

10.2.2.  Fiber Type Offerings

10.2.3.  Financial Performance

10.2.4.  Recent Initiatives

10.3.              Schott

10.3.1.  Company Overview

10.3.2.  Fiber Type Offerings

10.3.3.  Financial Performance

10.3.4.  Recent Initiatives

10.4.              Integra Lifesciences Corporation

10.4.1.  Company Overview

10.4.2.  Fiber Type Offerings

10.4.3.  Financial Performance

10.4.4.  Recent Initiatives

10.5.              Fiberoptics Technology Incorporated (FTI)

10.5.1.  Company Overview

10.5.2.  Fiber Type Offerings

10.5.3.  Financial Performance

10.5.4.  Recent Initiatives

10.6.              Coherent Inc.

10.6.1.  Company Overview

10.6.2.  Fiber Type Offerings

10.6.3.  Financial Performance

10.6.4.  Recent Initiatives

10.7.              Gulf Fiberoptics

10.7.1.  Company Overview

10.7.2.  Fiber Type Offerings

10.7.3.  Financial Performance

10.7.4.  Recent Initiatives

Chapter 11.  Research Methodology

11.1.              Primary Research

11.2.              Secondary Research

11.3.              Assumptions

Chapter 12.  Appendix

12.1.              About Us

Glossary of Terms

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