Fiber medicine

Global medical fiber optic market to reach $1.2 billion by 2026

Editing: 19; Published: January 2021
Executive commitments: 9481
Companies: 43 – Players covered include biolitec AG; Boston Scientific Society; Coherent, Inc.; Nufern; IPG Photonics Corporation; LEONI S.A.; Newport Corporation; OFS Fitel, LLC; Schott AG; Optical solar technologies; Timbercon, Inc.; Trimedyne, Inc.; Vitalcor, Inc. and others.
Blanket: All major geographies and key segments
segments: Fiber type (pure silica fiber, polycrystalline fiber and optical polymer); Application (endoscopes, lasers, surgical lights, dental lights, sensors and other applications); End use (hospitals, specialty clinics, outpatient surgery centers and other end uses)
World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Brazil; Mexico; Rest of Latin America; Rest of the world.

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Global medical fiber optic market to reach $1.2 billion by 2026
In the medical world, optical fiber has been used for several years in various surgical instruments and diagnostic devices due to their characteristics such as resistance to electromagnetic fields, chemical inertness and non-toxic nature. The diverse application areas of fiber optics include manual dental systems, ophthalmic lasers, X-ray imaging, and surgical instrumentation, among others. The growing importance of fiber optic technology in the medical industry is attributed to the growing demand for portable, miniature, and user-friendly devices capable of efficiently performing surgical and diagnostic procedures at affordable prices. Major demographic trends, such as increasing population and expanding elderly population across the world, are driving the demand for quality health care. In this context, healthcare professionals are increasingly looking for advanced patient monitoring devices, especially biomedical instruments to ensure efficient diagnosis, patient monitoring and treatment procedures. This pressing need has highlighted the growing importance of fiber optic technologies in medical devices for effective diagnosis, monitoring and treatment. Growth will also be fueled by the growing application of fiber optic biomedical sensing. The increasing use of small-scale disposable sensing catheters in minimally invasive surgeries is also expected to drive growth.

Amid COVID-19 crisis, Global Medical Fiber Optic Market Estimated at US$958.5 million in 2020, is expected to reach a revised size of US$1.2 billion by 2026, growing at a CAGR of 4.7% over the analysis period. Pure silica fiber, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.4% to reach US$623.6 million at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the polycrystalline fibers segment is readjusted to a revised CAGR of 3.8% for the next 7-year period. This segment currently represents a 29.6% share of the global medical fiber optic market. Silica fibers are the most widely used optical fibers in sensors, and current medical applications widely use high-quality silica optical fiber. The core of the fiber comprising silica doped with germanium increases the refractive index. Polycrystalline infrared (PIR) fiber is expected to find promising use in fiber optic infrared sensors due to the main advantages of high flexibility, high transmission over the fingerprint region, low toxicity, low hydroscopic properties and optimum core/sheath design to reduce the aging effect. As a key part of the PIR fiber arthroscopy probe, it can be used in the assessment of articular cartilage, which allows early diagnosis of degenerative joint diseases, for example osteoarthritis.

The US market is estimated at $367.8 million in 2021, when China is expected to reach $87.5 million by 2026
The medical fiber optic market in the United States is estimated at US$367.8 million in 2021. The country currently accounts for a 37.15% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$87.5 million in 2026 with a CAGR of 7.5% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 3.1% and 4.6% respectively over the analysis period. In Europe, Germany is expected to grow at around 4.8% CAGR while the rest of the European market (as defined in the study) will reach US$93.9 million at the end of the analysis period. The large share of the United States in the global medical fiber optic market is largely due to the advanced nature of medical infrastructure established in the region, as well as the rapid increase in the number of minimally invasive surgeries and the increase in per capita expenditure on health services. The presence of some of the major medical organizations in the region also promotes the use of fiber optics in medical applications. Europe, another major market for medical fiber optics, is poised to grow at a healthy rate owing to the aging population and increasing number of minimally invasive procedures with the application of medical fiber optics. The growth of the market is driven by the development of healthcare institutions and the increasing use of endoscopes in healthcare institutions. The region is also benefiting from support initiatives taken by governments to boost the medical fiber optic market. Growth in the Asia Pacific The region is supported by improved healthcare facilities and increased consumer awareness of sophisticated surgical techniques for the diagnosis and treatment of various medical treatments. The rapid growth in medical tourism owing to the relatively low cost of healthcare services offered in developing economies also presents growth potential for the medical fiber optic market.

Polymer optical segment to reach $313.9 million by 2026
Polymer optical fiber has unique material characteristics such as high flexibility, higher elastic limits, high sensitivity for mechanical parameters and impact resistance. These advantageous features meet the instrumentation requirements of many healthcare devices. In the global optical polymers segment, United States, Canada, Japan, China and Europe will drive the CAGR of 4.3% estimated for this segment. These regional markets representing a combined market size of US$213 million in the year 2020 will reach a projected size of US$285.2 million at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach 21 million US dollars by 2026, while Latin America will grow at a CAGR of 5.2% over the analysis period. Continued

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