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Medical Fiber Optics - Global Market Trajectory & Analytics

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    Report

  • 469 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338857

Global Medical Fiber Optics Market to Reach $1.2 Billion by 2026


In the medical world, fiber optics has been in use since the past several years in various surgical instruments and diagnostic devices due to their characteristics such that resistance to electromagnetic fields, chemical inertness, and non-toxic nature. The various application areas for fiber optics include dental hand systems, ophthalmic lasers, X-ray imaging, and surgical instrumentation, among others. The growing prominence of fiber optics technology in medical industry is attributed to the increasing demand for portable, miniature, and user-friendly devices that are capable of carrying out surgical as well as diagnostic procedures efficiently at cost effective prices. Major demographic trends, such as increasing population and expanding elderly population across the globe, are driving demand for quality healthcare. Against this backdrop, healthcare professionals are increasingly seeking advanced patient monitoring devices, particularly biomedical instrumentation for ensuring efficient diagnosis, patient monitoring, and treatment procedures. This pressing need has brought to fore the growing prominence of fiber optic technologies in medical devices for effective diagnoses, monitoring as well as treatment. Growth will also be fueled by the increasing application of biomedical sensing optical fiber. Rising use of small-scale disposable sensing catheters in minimally invasive surgeries is also expected to spur growth.

Amid the COVID-19 crisis, the global market for Medical Fiber Optics estimated at US$1 Billion in the year 2022, is projected to reach a revised size of US$1.2 Billion by 2026, growing at a CAGR of 4.7% over the analysis period. Pure Silica Fiber, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach US$623.6 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polycrystalline Fiber segment is readjusted to a revised 3.8% CAGR for the next 7-year period. This segment currently accounts for a 29.6% share of the global Medical Fiber Optics market. Silica fibers are the most widely used optical fibers in sensors and current medical applications make extensive use of high-quality silica optical fiber. The fiber core comprising of silica doped with germanium increase the refractive index. Polycrystalline Infrared (PIR) fiber are expected to find promising use in fiber-optic infrared sensors owing to key benefits of high flexibility, high transmittance on fingerprint region, low toxicity, low hydroscopic properties, and optimal core/clad design to reduce aging effect. As a key element of PIR fiber arthroscopy probe, it can be used in evaluation of articular cartilage, which enables early diagnosis degenerative joint diseases, for example, osteoarthritis.

The U.S. Market is Estimated at $382.1 Million in 2022, While China is Forecast to Reach $87.5 Million by 2026


The Medical Fiber Optics market in the U.S. is estimated at US$382.1 Million in the year 2022. The country currently accounts for a 37.15% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$87.5 Million in the year 2026 trailing a CAGR of 7.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$93.9 Million by the end of the analysis period. The large share of the US in the market for medical fiber optics globally is due largely to advanced nature of medical infrastructure established in the region, along with rapid increase in the number of minimally invasive surgeries and increased per capita spending on healthcare services. The presence of some of the leading medical organizations in the region also promotes use of fiber optics in medical applications. Europe, another major market for medical fiber optics, is poised to grow at a healthy rate owing to an aging population and rising number of minimally invasive procedures with application of medical fiber optics. Market growth is led by advancing healthcare facilities, and increasing use of endoscopes in healthcare settings. The region also benefits from supportive initiatives undertaken by governments to boost the medical fiber optics market. Growth in the Asia-Pacific region is supported by advancing healthcare facilities and rising consumer awareness about sophisticated surgical techniques for the diagnosis and treatment of various medical treatments. Rapid growth of medical tourism due to the relatively low cost of healthcare services offered in developing economies also presents growth potential for medical fiber optics market.

Polymer Optical Segment to Reach $313.9 Million by 2026


Polymer optical fiber exhibit unique material features such as high flexibility, higher elastic limits, high sensitivity for mechanical parameters, and impact resistance. These advantageous features meet the instrumentation requirements of numerous healthcare devices. In the global Polymer Optical segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$213 Million will reach a projected size of US$285.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$21 Million by the year 2026, while Latin America will expand at a 5.2% CAGR through the analysis period.

Select Competitors (Total 43 Featured):

  • biolitec AG
  • Boston Scientific Corporation
  • Coherent, Inc.
  • Nufern
  • IPG Photonics Corporation
  • LEONI AG
  • Newport Corporation
  • OFS Fitel, LLC
  • Schott AG
  • Sunoptic Technologies
  • Timbercon, Inc.
  • Trimedyne, Inc.
  • Vitalcor, Inc.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • Pandemic Disrupts Fiber Optic Supply Chain
  • Optic Fiber Sensors: Important Role in COVID-19 Detection
  • A Prelude to Medical Fiber Optics
  • Global Market Prospects & Outlook
  • Application of Optical Fibers in Healthcare Sector
  • Developed Regions Lead Medical Fiber Optics Market, Developing Nations Promise Future Growth
  • Endoscopes: The Largest Application Market for Medical Fiber Optics
  • Global Endoscopy Systems Market: Breakdown of Annual Sales in US$ Million by Geographic Region/Country for 2020 & 2025
  • Pure Silica Fibers: The Most Widely Used Fibers
  • Competition
  • World Brands
  • Recent Market Activity
  • Medical Fiber Optics - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Technological Advancements Expand Scope of Applications for Medical Fiber Optics
  • Fiber Optic Devices combined with Smartphones for Enhanced Assistance to Physicians
  • Fiber Optic Transillumination Improves Visual Inspections in Dentistry
  • Smart Fiber Optics Enable Radiation Free Guidance for Vascular Catheters
  • Fiber Optics Enabling Life-Like Bionic Limbs
  • New Device Aids Real-time Optical Imaging of Cancer Cells during Surgery
  • Ultra-thin Fiber Endoscopes to Reach Hard-to-reach Brain Structures
  • Innovative Ho:YAG Laser Technology
  • Novel Use in Respiratory Procedures
  • Researchers Develop Air-clad Imaging Fibers for Improving Usage of Endoscopes
  • New Fiber-Optic Technology for Faster Healing of Wounds
  • Stretchable Biocompatible Optical Fibers for Implantation
  • Researchers Develop Femtosecond Laser Fiberoptic Sensor Technology for 3D Navigation of Surgical Instruments
  • Researchers Design Bioresorbable Fiber Bragg Gratings
  • Researching Doctors Develop Compact Optical Endoscope
  • Researchers Develop Fiber Optic Sensor to Measure Weak Magnetic Fields
  • Optical Detection of Magnetic Fields
  • Researchers Develop Novel Optical Fiber for Printing Nano-Scale 3D Microstructures
  • Low-power, Continuously Emitting Laser
  • Commercial Usage of Technique
  • Researchers Develop Smart Photoacoustic Imaging Method
  • Micro-Endoscope - A Major Breakthrough in Endoscopy
  • Fiber Optic Thermometers:
  • Opportunities Abound for Fiber Optic Sensors in Biomedical Sensing Market
  • List of Select Commercial Fiber-Optic Biomedical Sensors
  • Specialty Optical Fibers Make Surgery Less Invasive
  • Optical Fiber Pressure Sensors for Medical Applications: An Overview
  • Select Companies Developing Optical Sensors for Medical Applications
  • Innovative Optical Biomedical Sensors
  • Select Promising Medical Applications for the Fiber Optic Technology
  • Fiber Optics Technology Emerges as an Essential Requirement for Dental Practices
  • Remote Fiber Optic Lighting: A Promising Alternative to Standard Overhead Lighting for Dentists
  • Fiber Laser Technology Offers Promising Applications in Medical Sector
  • Global Medical Laser Systems Market (in US$ Million) by Geographic Region/Country for 2020 & 2024
  • Role of Optic Fibers in Delivering CO2 Laser Beams for Medical Applications
  • Emergence of Single-Use disposable Fiber-Optic Catheters: New Revenue Opportunities
  • Widespread Adoption and Usage of Fiber Bragg Grating Sensors for an Array of Applications
  • Fiber Optic Sensors in Medical Smart Textiles: An Emerging Opportunity in Healthcare Monitoring Space
  • OCT Technology Creating Waves, Benefits to Accrue to Medical Fiber Optics Market
  • Fiber Optics for Surgical Lighting: Providing Effective Illumination in Operating Rooms
  • Surgical Headlight Manufacturers Step up Focus on Product Innovation
  • New Lighting Technologies Offer Improved Performance and Cost-Efficiencies
  • Cableless Surgical Headlights Enable Easier Mobility
  • Fiber Optic Probe Set to Facilitate Endoscopic Cancer Diagnosis
  • Innovations in Gastrointestinal Surgery Space Drive Market Growth
  • Nano-optic Endoscopes Provide High-Resolution OCTs in vivo
  • Biological or Chemical Sensors Undergo Technological Evolution
  • An Optical Fiber to Safely Deliver Drugs and Light into Human Body
  • High Light Intensity of Medical Fiber Optics Holds Potential to Cause Tissue Damage
  • Expanded Beam Connectors Safeguard Medical Fiber Optics
  • MACRO GROWTH DRIVERS
  • An Aging Global Population Drives Demand for Medical Fiber Optic Technology
  • Global Population Statistics for the 60+ Age Group by Geographic Region: 2019
  • Global Population Statistics for the 65+ Age Group by Select Countries: 2019
  • Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Increasing Healthcare Expenditure to Foster Market Growth
  • Global Healthcare Expenditure (In US$ Trillion) for the Years 2017, 2019, 2021 and 2023
  • Elderly Healthcare Expenditure as a % of GDP
  • Rising Incidence of Cancer: A Major Growth Driver
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • Rising Preference for Minimally Invasive Procedures Boosts Market Prospects
  • Rise in Prevalence of GI Tract Disorders to Drive Global Market for GI Endoscopy Devices
  • Diagnosed Gastrointestinal Prevalence (in %) by Select Countries for 2019
  • Rising Use of Increasingly Miniaturized Medical Devices Fuels Demand for Medical Fiber Optics
  • MEDICAL FIBER OPTIC APPLICATIONS: A CONCEPTUAL REVIEW
  • Fiberoptic Surgical Lights
  • Fiberoptic Dental Lights
  • Endoscopes
  • Use of Fiber Optics in Endoscopes
  • Rigid and Flexible Endoscopes
  • Endoscope Channels
  • Types of Fibers Used
  • Light Sources Used
  • Applications of Endoscopes
  • Fiber Optic Lasers
  • Optical Fibers: The Appropriate Beam Delivery Systems
  • Types of Lasers and Associated Need for Optical Fiber Beam Delivery Systems
  • Select Laser Surgeries Using Optical Fibers
  • Fiber Optic Catheters
  • Fiber Optic Sensors
  • Intra-Arterial Blood Gas Monitoring Systems (IABGS)
  • Silica Fibers: The Most Widely Used Fibers
  • Applications of Various Types of Sensors
  • Disadvantages of Using Plastic and Glass Fibers in Sensors
  • Other Fiberoptic Products
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Minimally-Invasive Endoscopes Demand to Drive Medical Fiber Optics Market
  • Aging Baby Boomer Populace Spells Growth Opportunities
  • Aging Population in the US (2015, 2020 & 2025): 65 Years and Above Population (in Thousands) and Percentage of Population
CANADA
JAPAN
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Graying Population Spurs Growth of Medical Fiber Optics
  • Elderly (65 & Above Years) Population in Million in Japan for the Years 2000-2050
CHINA
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Rising Demand for Endoscopy to Drive Growth in the Medical Fiber Optics Market
  • Chinese Makers Benefiting from Laser Boom in Asia-Pacific
EUROPE
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Expanding Elderly Population - Opportunity for Medical Fiber Optics
  • Europe’s Aging Population - Country-wise Statistics of 65+ Population (in Thousands) for 2020
FRANCE
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
AUSTRALIA
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Endoscopic Devices Market: Promising Opportunities for Medical Fiber Optics
  • Indian Endoscopic Devices Market (2019): Percentage Breakdown of Value Sales by Segment - Rigid Endoscopy and Flexible Endoscopy
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Medical Fiber Optics Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
BRAZILMEXICOREST OF LATIN AMERICAREST OF WORLD
IV. COMPETITION
  • Total Companies Profiled: 43

Companies Mentioned

A selection of companies mentioned in this report includes:

  • biolitec AG
  • Boston Scientific Corporation
  • Coherent, Inc.
  • Nufern
  • IPG Photonics Corporation
  • LEONI AG
  • Newport Corporation
  • OFS Fitel, LLC
  • Schott AG
  • Sunoptic Technologies
  • Timbercon, Inc.
  • Trimedyne, Inc.
  • Vitalcor, Inc.