The global Medical Fiber Optics market was valued at USD 850.2 million in 2019 and is expected to grow at a CAGR of 5.4% over the forecast period 2020 to 2028. Rising demand for minimally invasive surgeries with advancement in imaging techniques is likely to drive the global market growth in coming years. Increasing reverence of cancer, where optical fibers are used as a light source for observing tumors is also one of the key factor for such market development. However, stringent regulatory landscape pertaining to quality standards of fibers is likely to limit the new entrants in the emerging market.
Adroit Market Research report on medical fiber optics market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for historic as 2018, with the base year of estimation as 2019 and forecast from 2020 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market competition with company positioning based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global Medical Fiber Optics market have been studied in detail.
Geographically, the majority share of the global demand for medical optic fibers was held by North America, followed by Europe, which was the second largest geographic demand. However, Asia Pacific is likely to emerge as the fastest growing segment over the forecast period.
The global medical optic fiber market has been bifurcated based on type, application and region. In terms of type, the market is divided into single mode optical fiber and multimode mode optical fiber. On the basis of application, the segment is divided into Endoscopic Imaging, Laser Signal Delivery, Biomedical Sensing, Illumination, and others.
Key players serving the global market include Integra Lifesciences Corporation , Fiberoptics Technology Incorporated , AFL , Molex , COHERENT, INC , Timbercon, INC , Gulf Fiberoptics , Newport Corporation , SCHOTT , LEONI ,among other prominent players.
Key segments of the global Medical Optic Fiber market
Type Overview, 2018-2028 (USD Million)
- Single Mode Optical Fiber
- Multimode Mode Optical Fiber
Application Overview, 2018-2028 (USD Million)
- Endoscopic Imaging
- Laser Signal Delivery
- Biomedical Sensing
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa