Medical Fiber Optics Industry Overview
The global medical fiber optics market size is expected to reach USD 1.6 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.0% from 2022 to 2030. 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.
Medical Fiber Optics Market Segmentation
Grand View Research has segmented the global medical fiber optics market on the basis of fiber type, application, and region:
Based on the Fiber Type Insights, the market is segmented into single mode optical fiber, multimode optical fiber.
- In 2021, 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.
- Single-mode optical fibers possess higher transmission and can cover 50 times more distance 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.
Based on the Application Insights, the market is segmented into endoscopic imaging, laser signal delivery, biomedical sensing, illumination, others.
- In 2021, 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.
- 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.
- Biological sensors are being used for identifying and quantifying biochemical molecules, such as antibodies, antigens, and enzymes.
Medical Fiber Optics Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key players are focusing on their innovative product development strategies and devising their partnerships, collaborations, and merger & acquisition strategies to expand their business footprint and gain a competitive edge in the market.
Some prominent players in the global Medical Fiber Optics market include
- Molex
- AFL
- Schott
- Integra Lifesciences Corporation
- Fiberoptics Technology Incorporated (FTI)
- Coherent Inc.
- Gulf Fiberoptics
Order a free sample PDF of the Medical Fiber Optics Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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