The global medical fiber optics market size is predicted to surpass around USD 2.6 billion by 2030 from valued at USD 920.9 million in 2020, growing at a CAGR of 6.02% from 2022 to 2030.
The global medical fiber optics market size is predicted to surpass around USD 2.6 billion by 2030 from valued at USD 920.9 million in 2020, growing at a CAGR of 6.02% from 2022 to 2030.
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.
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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.
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.
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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.
Key Players
- Molex
- AFL
- Schott
- Integra Lifesciences Corporation
- Fiberoptics Technology Incorporated (FTI)
- Coherent Inc.
- Gulf Fiberoptics
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
- North America
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