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Medical Fiber Optics Market Analysis | CMI

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Title: Medical Fiber Optics Market Analysis | CMI


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
MEDICAL FIBER OPTICS MARKET ANALYSIS
  • Medical Fiber Optics Market, By Fiber Type (Pure
    Silica Fiber, (UV-Silica, Near Infrared(NIR)
    Silica, Metal- Coated Silica, and Plastic Clad
    Silica), Polycrystalline Fiber, and Polymer
    Optical), By End User (Hospitals, Specialty
    Clinics, Ambulatory Surgical Centers, Diagnostic
    Laboratories, and Contract Research
    Organization), By Application (Image
    Transmission, Illumination, Laser Signal
    Delivery, Fiber Optic Confocal Scanning, and
    Laser soldering), By Usage (Reusable, and
    Disposable), and By Region (North America, Latin
    America, Europe, Asia Pacific, Middle East
    Africa) - Size, Share, Outlook, and Opportunity
    Analysis, 2020 - 2027
  • The global medical fiber optics market is
    estimated to account for US 1,855.2 Mn in terms
    of value by the end of 2027.

3
Market Dynamics- Drivers
  • Growing preference for minimally invasive surgery
    (MIS) is expected to drive growth of the global
    Medical Fiber Optics Market during the forecast
    period
  • MIS refers to a medical surgery, which performed
    through small incisions rather than large
    incisions. Since there is reduced blood loss,
    these surgical procedures are gaining major
    traction in hospitals and clinics worldwide.
    Furthermore, MIS offers shorter hospital stays,
    fewer complications, and low cost. For these
    surgeries, fiber optics are used as they are
    highly flexible, light, and can be placed in
    tight spaces highly localized measurements.
    Hence, these factors are expected to drive growth
    of the global medical fiber optics market during
    the forecast period.
  • Rising prevalence of gastrointestinal diseases is
    expected to propel the global medical fiber
    optics market growth over the forecast period
  • The prevalence of gastrointestinal and digestive
    diseases has increased significantly in the
    recent past in both developed and emerging
    economies. According to the Centers for Disease
    Control and Prevention (CDC), in 2019, there were
    around 14.8 million adults in the U.S. diagnosed
    with ulcers. Ulcer is a type of gastrointestinal
    disease and in severe cases, it requires surgical
    procedures. Medical fiber optics can be used in
    diagnosis and analysis of ulcers, which in turn,
    is expected to propel the global medical fiber
    optics market growth in the near future.

4
Statistics
  • North America held dominant position in the
    global medical fiber optics market in 2019,
    accounting for 36.0 share in terms of value,
    followed by Europe, APAC, Latin America, and MEA
    respectively.

Figure 1 Global Medical Fiber Optics Market
Share (), in terms of Value, By Region, 2019
5
Market Dynamics- Restraints
  • Increasing use of non-invasive diagnostics and
    monitoring methods is expected to restrain growth
    of the global medical fiber optics market during
    the forecast period
  • Many medical professionals and patients are
    preferring non-invasive diagnostics and
    monitoring methods for obvious reasons. These
    methods include glucose concentration,
    hemodynamic monitoring, X-rays, EKG, ECG, etc. As
    a result of this, the demand for medical fiber
    optics has declined significantly. Therefore,
    these factors are expected to restrain growth of
    the market in the near future.
  • Challenges associated with comp ability issues
    are expected to hamper the global medical fiber
    optics market growth over the forecast period
  • There still remains a major issue of integrating
    novel technology in healthcare industry that can
    help physicians to diagnose and monitor patients
    efficiently. Moreover, solution providers offer
    various devices that are compatible with certain
    optical fibers due to technical specifications
    and requirements. Hence, these factors are
    expected to hamper the market growth over the
    forecast period.

6
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7
Market Opportunities
  • Constant technological advancements can provide
    major business opportunities
  • Key companies in the market are focused on
    research and development activities, in order to
    innovate novel products. For instance, in June
    2015, Leoni introduced radiation-resistant
    multi-mode fibers for computer tomography
    applications. These fibers are IEC 60332-1-2 and
    IEC 60332-3-22 Cat. A compliant. Moreover, in
    June 2015, Leoni introduced radiation-resistant
    multi-mode fibers for computer tomography
    applications.
  • Rising business expansion of market players can
    present lucrative growth opportunities
  • Key market players are focused on business and
    capacity expansion, in order to enhance the
    market presence. For instance, in March 2015,
    Schott AG expanded its Puravis glass optical
    fiber solutions by introducing rigid fiber rods
    for dental devices applications.

8
  • The global medical fiber optics market was valued
    at US 1,160.8 Mn in 2019 and is forecast to
    reach a value of US 1,855.2 Mn by 2027 at a CAGR
    of 6.0 between 2020 and 2027.

Figure 2 Global Medical Fiber Optics Market
Value (US Mn), 2017 - 2027
9
Market Trends
  • North America Trends
  • Among regions, North America is expected to
    witness significant growth in the global medical
    fiber optics market during the forecast period.
    This is owing to high presence of major
    manufacturers across the U.S. Furthermore,
    technological advancements and rising foreign
    investment are expected to boost the regional
    market growth over the forecast period.
  • Europe Trends
  • Europe is expected to register a robust growth
    rate in the global medical fiber optics market
    over the forecast period. This is owing to strong
    industrial growth across the region. Furthermore,
    increasing surgical procedures in developed
    countries such as Germany, France, and the U.K.
    is expected to propel the regional market growth
    in the near future.

10
Regulations
  • USP Class Testing
  • The United States Pharmacopeia (USP) is a
    non-government organization that focuses
    primarily on setting standards to safeguard the
    quality of medicines and other health care
    technologies. This organization focuses on
    bio-technology and pharmaceutical industries. The
    USP sets standards for strength, purity, quality
    and consistency of various products. These
    standards are published in the National Formulary
    (USP NF) and US Pharmacopeia. The USP defines six
    classes, from I to VI, where USP class VI being
    the most stringent. Plastic manufacturers that
    utilize plastic resins as raw materials for
    manufacturing medical devices and components
    require these raw materials to be certified as
    USP Class VI in order to produce favorable
    biocompatibility results.

11
Global Medical Fiber Optics Market- Impact of
Coronavirus (Covid-19) Pandemic
  • According to Coherent Market Insights analysis,
    the impact of coronavirus (COVID-19) pandemic on
    the medical fiber optics is moderate. Due to
    lockdown in countries such as China and India,
    supply chain is mainly disturbed. Furthermore,
    many key players in the market remains
    operational with limited people working on the
    shop floor and remaining people are working from
    home, which lowered the production capacity of
    the factory. For instance, in April 2020,
    Coherent, Inc., a US based electronics component
    manufacturing company implemented COVID 19
    regulations such as social distancing norm, for
    employees working in the factory floor. Further
    company provided work from facility to the
    remaining employees to combat COVID 19. This has
    affected ongoing activities in the industry
    however, there is expected to be significant
    growth in the market post COVID.

12
Competitive Section
  • Key players operating in the global medical fiber
    optics market Leoni AG, Sunoptic Technologies
    LLC, Gulf Fiberoptics, Inc., Integra LifeSciences
    Holdings Corporation, Coherent, Inc., Molex
    Incorporated, Fiberoptics Technology, Inc.,
    Newport Corporation, and Schott AG.

13
Key Developments
  • Key market players are focused on product
    launches, in order to expand the product
    portfolio. For instance, in November 2019, Schott
    AG launched SCHOTT SingleEZ Guide plug-and-play
    illumination solution for single-use endoscopes.
  • Major market players are involved in product
    development, in order to gain a competitive edge
    in the market. For instance, in March 2019,
    Schott AG launched Autoclavable Solidur LEDs for
    use in dental and medical technology
    applications.

14
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Reference https//www.coherentmarketinsights.com
    /market-insight/medical-fiber-optics-market-1645

15
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

16
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

17
  • Thank You!
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