The Global Medical Fiber Optics Market is Poised to Reach US$1.1 Billion by 2020
Growing Patient Preference for Minimally Invasive
Surgeries Drives the Medical Fiber Optics Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Medical Fiber Optics. The
global Medical Fiber Optics market is poised to reach US$1.1 billion by 2020,
driven by growing patient preference for minimally invasive surgeries.
The rapidly aging world population is
spurring demand for colonoscopies,
orthopedic implants, bariatric surgeries, and gastrointestinal endoscopy. All
of these procedures require the use of endoscopes and other medical instruments
which utilize medical fiber optics.
Endoscopes represent the largest end-use market for medical fiber optics,
supported by the growing popularity of minimally invasive surgeries.
Miniaturization of medical instruments is a key trend encouraging the use of small
and efficient optical fibers. The introduction of High Definition (HD) systems
is expected to accelerate the use of fiber optics in minimally invasive
surgical devices, such as endoscopes.
The
market is also benefitting from the increasing use of high-resolution imaging technologies, such as, Optical Coherence
Tomography (OCT), Photo-Acoustic Tomography (PAT), and Near Infrared
Spectroscopy (NIRS), for the diagnosis and treatment of ophthalmic and
cardiovascular conditions. Intensive R&D activity in the field of fiber
optics is giving rise to technological advancements, such as smart pills that
aid in generating accurate anatomical imaging; force-sensitive catheters with
applications in laser ablation procedures; and optical fiber arrays that aid in
positioning high-precision robotic arms. Increasing
sophistication of medical equipment and the development of high-speed networks
are prompting healthcare service providers to seek options for combining remote
monitoring and treatment domains. The ability of fiber optics to rapidly
transmit large blocks of information is expected to make long distance medical
consultations simple and commonplace in the future. In
response to the evolving needs of the medical industry, a range of specialty
optical fibers have been introduced in the recent years, featuring improved
damage thresholds at high power levels and tight bend radius that minimizes
optical loss.
Lasers represent the fastest growing
end-use application for medical fiber optics, with growth in this market
supported by increasing use of fiber-lasers in medical applications, ranging
from skin resurfacing to microsurgery. Inherent features, such as high
efficiency and compact size, are expected to widen the use of fiber optic
lasers in microsurgeries in areas such as dermatology, urology, ophthalmology,
and otolaryngology. As stated by the new market research report on Medical
Fiber Optics, the United States and Europe represent the largest markets
worldwide, supported by sophisticated healthcare infrastructure and favorable medical
reimbursements policies. Asia-Pacific ranks as the fastest growing market with
a CAGR of 6.4% over the analysis period. Investments in healthcare
infrastructure development, rollout of large-scale healthcare programs by
governments, and aging population, represent key factors driving growth the
region.
Major players covered in the report
include American Medical Systems Inc., biolitec AG, Coherent Inc., IPG
Photonics Corporation, Leoni AG, Newport Corporation, OFS Fitel LLC,
ROFIN-SINAR Laser GmbH, Nufern, Schott AG, Spectranetics Corporation, Sunoptic
Technologies LLC, Timbercon Inc., Trimedyne Inc., and Vitalcor Inc., among
others.
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