Persistence Market Research Blog

New York City, New York, Oct 21, 2015: Fiber optics has found immense potential in various areas of medicine. A new report published by Persistence Market Research (PMR), titled “Global Market Study on Medical Fiber Optics: Asia to Witness Highest Growth by 2019”, provides an in-depth assessment of the global medical fiber optics market and helps the user understand the various opportunities, strengths, and threats pertaining to this market.

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According to the report, the global medical fiber optics market stood at US$863.1 million in 2013 and is further expected to reach an estimated value of US$1,336.1 million by the end of 2019. The market is anticipated to demonstrate a 7.6% CAGR from 2013 to 2019.

Fiber optics is mainly used for laser delivery systems, flexible image bundles, flexible light guides, and illumination and light conductors. The market for medical fiber optics is rapidly growing and experiencing significant growth due to the high demand for fiber optics in minimally invasive surgeries such as endoscopy and microscopy.

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As fiber optics and sensors are safe, reliable, and highly stable during operations, they offer several advantages over conventional electronic medical sensors in the field of medical sensing. Minimally invasive surgery reduces costs and helps facilitate shorter hospital stays. Hence, major demand for accurate, stable, and effective tools for surgery, diagnostics, and patient care are some of the key drivers of the medical fiber optics market.

The medical fiber optics market is also witnessing significant growth owing to rapid development of medical fiber optics technology and increased demand for advanced diagnostic technologies. For the forecast period 2013-2019, the medical fiber optics market is witnessing a considerable rise in the number of medical fiber optics applications, such as lab and clinical diagnostics, diagnostic and surgical instrumentation, dental head pieces, and endoscopy, light therapy, X-ray imaging, ophthalmic lasers, and surgical microscopy. A rise in these innovative applications of medical fiber optic technology is driving the medical fiber optics market across the globe.

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Among the major drivers and latest trends in the global medical fiber optics market, miniaturization of medical devices has also contributed to the rising demand for medical fiber optics technology. The presence of a number of medical applications such as endoscopes, fiber-optic sensors, fiber-optic surgical lights, laser fiber-optics, and fiber-optic dental lights have augmented the usage of medical fiber optics for the treatment of various diseases.

Improving healthcare infrastructure, innovative applications within the medical fiber optics market and constantly growing demand for medical fiber optics in the healthcare sector are key factors encouraging manufacturers to focus on expanding their product capacity and developing innovative fiber products to meet various medical and surgical requirements. Such factors will open new opportunities and boost the overall market.

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Geographically, this market is divided into North America, Asia, Europe, and Rest of the World. At present, North America leads the market for medical fiber optics, with Asia expected to be the next fastest growing region in the medical fiber optics by 2019. Asia will witness high growth in the medical fiber optics market due to government initiative programs, medical infrastructure development, and age-related disorders.

Key points covered in the report
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
North America
Europe
AsiaAbout Us
RoW
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.

Browse Full PDF: Medical Fiber Optics

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