(MENAFN- Straits Research) Medical fiber optics involves using optical fibers in medical and therapeutic applications. High-quality glass or plastic makes thin, flexible, and transparent optical fibers. They can send light signals over great distances with little loss and are widely used in medical equipment and procedures. Medical fiber optics are essential in current medical practices and breakthroughs because they provide better imaging, diagnoses, and therapies.
The rising incidence of chronic diseases such as cancer, technical breakthroughs in medical equipment, increased awareness of minimally invasive operations, and quickly improving healthcare infrastructure are all projected to fuel market expansion throughout the forecast period.
Market Dynamics
Growing Popularity of Minimally Invasive Surgery Propels the Market Growth
MIS uses small incisions and specialized devices to minimize tissue damage. It reduces pain, hospital stays, and complications compared to open surgery. Medical fiber optics enable minimally invasive surgery (MIS) by offering high-quality imaging, accurate lighting, and efficient energy supply. According to the AAOS, minimally invasive surgery (MIS) can reduce hospital stays, discomfort, and recovery time. Boosting the medical fiber optics industry.
On the other hand, medical fiber optic devices require expensive materials, accurate engineering, and strict quality control. Fiber optics with high-tech medical equipment raises prices. Fiber optic endoscopes illustrate the drawbacks of high cost. Minimally invasive techniques employ these technologies for imaging and diagnosis. Fiber optic endoscopes are expensive. Thus, hospitals and doctors must invest in them. In 2019, according to SPIE, medical fiber optic devices cost USD 1,500 on average. Low- and middle-income people can no longer afford these gadgets. Fiber optic medical gadgets can save lives.
Technological Advancements to Create Tremendous Opportunities
As research and development efforts continue, improvements emerge that broaden the uses of medical fiber optic devices and enhance patient outcomes. Advances in fiber optic technology have resulted in high-resolution, flexible endoscopes that improve vision and patient comfort during treatments. The rigid shafts of traditional endoscopes can be unpleasant and limit movement. On the other hand, incorporating advanced fiber optic bundles into flexible endoscopes increases navigation across delicate anatomical systems while decreasing patient suffering. Furthermore, the rise of precision medicine and individualized healthcare has fuelled demand for increasingly sophisticated medical fiber optic equipment. Researchers and manufacturers focus on creating specialized fiber optic sensors and tools for real-time monitoring of vital signs and particular health indicators to improve patient care.
Regional Insights
North America dominates the market at a CAGR of 6.6%. This research projects a significant U.S. market share. Cancer, diabetes, and other chronic diseases will boost the U.S. medical fiber optics market. U.S. markets are growing because of endoscopic cancer and chronic illness diagnosis. Leading medical fiber optic products, manufacturers promote market growth. Cancer, cardiovascular, and gastrointestinal problems enhance endoscopic surgery demand, which may boost the region's market. Due to postponed surgeries, laparoscopic procedures recovered to pre-pandemic levels in 2021, increasing medical fiber optics use for greater lighting. Due to increased demand for minimally invasive and non-invasive procedures, sophisticated healthcare infrastructure, and continuing integration of breakthrough optical fiber technologies in cosmetology and dermatology, such as skin tightening and face lifting, the market may rise. The Aesthetic Society reported 87,007 US facelifts in 2021. Two thousand twenty facelifts increased by 54%. Facelift surgeries would likely boost medical fiber optics utilization and market development. Lasers in cosmetology, dentistry, and biomedical sensor research fuel market growth.
Asia Pacific is anticipated to lead the market with a high CAGR of 7.1%. The market growth is driven by government support, healthcare infrastructure, and living standards. Medical tourism in South Korea, Thailand, and Singapore may boost fiber optics growth. Top firms desire to invest in China and India to boost market growth. Japan's older population requires a fast healthcare network. The COVID-19 pandemic has revealed Japan's digital laggard status, according to Kyodo News. By 2028, 99.9% of Japanese households will have fiber-optic networks in the healthcare ecosystem. According to the Korea Institute of Science and Technology Information, fiber optic sensors are improving as non-destructive civil engineering structural health monitors. Korean healthcare uses more medical fiber optics, expanding the market.
Key Highlights
The global medical fiber optics market was valued at
USD 3.4 billion in 2022
and is projected to reach
USD 8.2 billion by 2031 , registering a
CAGR of 6.6%
during the forecast period (2023-2031).
The type segment is subdivided into pure silica fiber, thulium-doped fiber lasers (TDFLs), Holmium: YAG, step-index fiber, Graded-Index fiber, polycrystalline fiber, and polymer optical. Pure silica fiber retains the largest market share. Based on fashion, Single-mode fiber and multi-mode fiber. Multi-mode fiber holds the largest market share. The market is divided into disposable surgical laser fiber and reusable surgical laser fiber based on application. The disposable surgical laser fiber has the greatest market share. The market can be segmented by procedure type into optical coherence tomography, brain tumor ablation, and lipolysis. Optical coherence tomography is the controlled market segment. By application, the segment can be subdivided into Endoscopic imaging, laser signal delivery, biomedical sensing, illumination, and others. Illumination maintains a substantial market share.
Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America dominates the market.
Competitive Landscape
The key players in the global medical fiber optics market are SCHOTT, LEONI, Coherent Inc., Molex Incorporated, Integra LifeSciences Holdings Corporation, Fiberoptics Technology Incorporated, Newport Corporation, Timbercon, and Gulf Fiberoptics.
Market News
In July 2023 , SCHOTT AG joined the UN Global Compact for the first time. In June 2023 , the new Coherent Monaco 1035-150-150 provided more pulse energy and power than previous versions, enhancing cutting speed and maximum substrate thickness in applications such as OLED display glass, medical devices, and implants.
Global Medical Fiber Optics Market: Segmentation
By Fiber Type:
Pure Silica Fiber UV- Silica Near Infrared (NIR) Silica Metal- Coated Silica Plastic Clad Silica
Thulium Doped Fiber Lasers (TDFLs) Holmium: YAG Step-Index Fiber Graded-Index Fiber Polycrystalline Fiber Polymer Optical
By Mode:
Single Mode Fiber Multi-Mode Fiber
By Usage:
Disposable Surgical Laser Fiber Reusable Surgical Laser Fiber
By Type of Procedure:
Optical Coherence Tomography Brain Tumor Ablation Lipolysis Others
By Application:
Endoscopic imaging Laser signal delivery Biomedical sensing Illumination Others
By Region:
North America Europe Asia-Pacific The Middle East and Africa Latin America
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