Global Medical Fiber Optics Market By Application (Illumination, Endoscopic Imaging, Biomedical Sensing, Laser Signal Delivery, and Other Applications), By Fiber Type (Multimode Optical Fiber and Single Mode Optical Fiber), By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Medical Fiber Optics Market size is expected to reach $1.3 billion by 2026, rising at a market growth of 8.6% CAGR during the forecast period. A fiber optic cable is used to reach longer distances and provide higher performance than the wired cables. When it comes to fiber optics, a majority of people consider it as a TV cable or high-speed internet cable. Regardless of that, fiber optics provide additional utilization in the medical division that can dominate the market for many years. The healthcare providers strive to discover technically-advanced biomedical instrumentation to give a more productive patient diagnosis, checking, and treatment.
Global Medical Fiber Optics Market Size
Fiber optics consists of various useful features that make them valuable in the medical field. These types of fibers are insensitive toward electromagnetic disturbances and are usually found in small size. Furthermore, they can resist high temperatures, solid electromagnetic fields like MRIs, and ionizing radiation. Fiber optics is an ideal medical apparatus. Also, optical fibers are non-toxic, chemically inert, and intrinsically safe to use. Thus, they are the perfect material to use in and close to the human body.
The most significant and common uses of fiber optics in medicine are in the imaging and illumination components of endoscopes. The features like flexibility and rigidity are used to design multifiber. The multifiber is comprised of step-index fibers and graded-index. The imaging rods are largely used for visualization of internal organs and tissue. The fabrication techniques applied to optical fibers for the process of imaging and illumination are evaluated in juxtaposition. Currently, various technologies are also involved in current communications techniques.
Medical Fiber Optics Market Share
The adoptions of technologically advanced products and rising awareness about minimally invasive surgeries have become the key factors for boosting the market growth. Advancement in the endoscopic procedure has led to early recognition of cancer and other chronic diseases. Additionally, the evolving utilization of lasers in dentistry and cosmetology and continuous exploration of biomedical sensors are other factors boosting the market.
Free Valuable Insights: Global Medical Fiber Optics Market to reach a market size of $1.3 billion by 2026
Based on Application, the market is segmented into Illumination, Endoscopic Imaging, Biomedical Sensing, Laser Signal Delivery, and Other Applications. Based on Fiber Type, the market is segmented into Multimode Optical Fiber and Single Mode Optical Fiber. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include MKS Instruments, Inc. (Newport Corporation), IPG Photonics Corporation, Coherent, Inc., LEONI Group, Fiberoptics Technology, Inc., Timbercon, Inc. (Radiall America, Inc.), Gulf Fiberoptics, Inc., Sunoptic Technologies, LLC, Vitalcor, Inc., and Infinite Electronics, Inc. (Integra Optics, Inc.).
Scope of the Medical Fiber Optics Market Analysis
- Endoscopic Imaging
- Biomedical Sensing
- Laser Signal Delivery
- Other Applications
By Fiber Type
- Multimode Optical Fiber
- Single Mode Optical Fiber
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- MKS Instruments, Inc. (Newport Corporation)
- IPG Photonics Corporation
- Coherent, Inc.
- LEONI Group
- Fiberoptics Technology, Inc.
- Timbercon, Inc. (Radiall America, Inc.)
- Gulf Fiberoptics, Inc.
- Sunoptic Technologies, LLC
- Vitalcor, Inc.
- Infinite Electronics, Inc. (Integra Optics, Inc.)
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Medical Fiber Optics Market Related Reports:
How valuable the medical fiber optics market be in the future?
The global medical fiber optics market size is expected to reach $1.3 billion by 2026.
What are the factors that anticipated to drive medical fiber optics market trends?
The major factors that are anticipated to drive the medical fiber optics industry include increasing number of minimally invasive surgeries.
Who are the top market players in the medical fiber optics industry?
MKS Instruments, Inc. (Newport Corporation), IPG Photonics Corporation, Coherent, Inc., LEONI Group, Fiberoptics Technology, Inc., Timbercon, Inc. (Radiall America, Inc.), Gulf Fiberoptics, Inc., Sunoptic Technologies, LLC, Vitalcor, Inc., and Infinite Electronics, Inc. (Integra Optics, Inc.).
Which segment dominated the medical fiber optics market in 2019?
The application, illumination of the market is anticipated to record huge market traction and is anticipated to dominate the market over the coming years as well.