Precedence Research’s latest report on the global medical fiber optics market provides an analysis for the period of 2017 to 2030, wherein, 2020 is the base year, 2017 and before is historical data, and 2021 to 2030 is the forecast period.
The global medical fiber optics market size was valued at US$ 880 million in 2020 and is projected to reach US$ 1,531.9 million by 2030, rising at a market growth (CAGR) of 5.7% during the forecast period.
Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for medical fiber optics market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.
The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.
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Optical fibers used for medical purposes are medical fiber optics. Optical fibers are clear and flexible fibers made from high-quality, flexible glass, silica and plastic. In general, optical fibers primarily are used as a way to pass light between two ends of fiber. It is commonly used in communication with fiber optics, allowing light to be transmitted ended long distances and at far higher bandwidths compared to wire cables. For flexible light guide systems, laser light distribution systems, flexible picture packs, and light conductors, fibers are used.
For many networking networks, fiber optics is used as a spine, which means it infiltrates many traditionally wire only manufacturing. Medical device manufacturers understand superior capabilities of the fiber optics in the transmission of a wide variety of communication signals and incorporate them into cameras, invasive surgical systems and imaging. Aimed at medical devices, and robotics data rates are continuously increasing faster, thus fiber optics offers a better networking option. The basic distinction between fiber optic and wire system is, in place of using electrical pulses via copper wires, fiber optics directs data in light pulses form down the fiber cable.
Fiber optics is fast, have abundant superior capacity and provide higher per-size data rates over copper wire. Infiltration of the fiber optic cables is unlikely. Without cutting and splicing into the fibers, signals of fiber optic cannot be captured, rendering them highly protected in today’s data-heavy setting. In addition, loss due to low signal amplitude, no sensitivity to interference of electromagnetic and no interference between adjacent lines are defined by fiber optics. For control operations and power supply, utmost systems that are equipped along with the fiber optics too need simultaneous, electrical energy. Current practice requires the usage of distinct electrical as well as connectors of fiber optic, but by integrating fiber optic and electrical signals into the solitary connector, the latest technology developed by LEMO significantly simplifies this practice. For a wide range of uses, cables of the fiber optic can be made, which means that a particular set of requirements will be needed for your application. For example, in a broadly varying setting, environmental situations are able to vary from within a regulated environment to the outside due to extreme heat and cold, extraordinary humidity.
Among the medical fiber optics type segment Illumination segment is dominated the overall market. The growth is attributed to increasing numbers of endoscopic surgeries worldwide where the optic fibers are used as a light source.
Among the end user, hospitals segment was expected to register maximum share during the forecast period of time 2021-2030, owing to growing demand for medical fiber optics for minimally invasive surgeries that are carried out at hospitals in the developed regions across the globe.
Integra Life sciences Corporation accounted for a significant share of the global medical fiber optics market.
Key Players of the global medical fiber optics market are:
- Coherent, Inc.
- Fiberoptics Technology Incorporated (FTI)
- Timbercon, Inc.
- Gulf Fiberoptics
- Integra Lifesciences Corporation
- Newport Corporation
Segments Covered in the Report:
- Single mode optical fiber
- Multimode optical fiber
- Endoscopic imaging
- Laser signal delivery
- Biomedical sensing
By End User
- Specialty Clinics
- Ambulatory Surgical Centers
- Diagnostic Laboratories
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
- Latin America (Brazil and the Rest of Latin America)
- The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)
The research report deals with the industry prospects of medical fiber optics products around regions including Europe, North America, Latin America, Asia-Pacific, and Middle East and Africa. North America will dominate the global industry due to increased disposable incomes along with the innovatively advanced healthcare infrastructures, healthy medical delivery systems as well as greater healthcare expenditure in the countries of the North America. Presence of leading players in the region along with strategies that are implemented by the major players in the countries of North America is expected to witness substantial growth in the target industry in the near future.
Asia Pacific is likely to list the noteworthy CAGR, on account of rising awareness about the usage of medical fiber optics in emerging economies. Also, Most of the key players operating in the industry are investing heavily in order to get the competitive edge in the medical fiber optics market in Asia Pacific. Addition to this growth of the European countries is attributed to the growing adoption of machines that supports to the medical fiber optics technology in various Europe hospitals and upsurge in government funding for technologies. The Latin America medical fiber optics market is expected to grow at moderate CAGR in the near future. Also, Middle East and Africa region is expected to create lucrative growth opportunities in the target industry.
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Carolina is an author who specializes in covering healthcare, chemical, and the automotive industry. Before joining Market Stats News, Carolina covered some of the biggest companies in Silicon Valley for the San Jose Mercury News. She loves all things French and the written word. Articles by Carolina