Global Optical Fibers in Endoscopy Market: Overview

Endoscopy is a medical procedure to obtain high-resolution microscopic images of internal organs of the body. Endoscopes are made up of dense bundles of optical fibers. Optical fibers are thin fibers made up of glass or plastic, and they ensure efficient light transmission during endoscopic procedures. These fibers transmit light into the patient’s body and enable the physician to view images of internal structures of the body for the early detection of diseases.

Global Optical Fibers in Endoscopy Market: Key Trends

The global optical fibers in endoscopy market is estimated to expand rapidly in the next few years. A rise in the geriatric population, which is at an increased risk of chronic disorders and increase in the prevalence of chronic diseases such as cancer and neurological and gastrointestinal disorders are driving the growth of the global optical fibers in endoscopy market. For instance, according to a 2017 United Nations Report, the number of people aged 60 years and above is expected to increase two fold by 2050 and is projected to reach 2.1 billion in 2050 from 962 million in 2017.  This is likely to augment the global optical fibers in endoscopy market in the coming few years. Moreover, an increase in the adoption of endoscopy, owing to benefits such as minimally invasive procedure, reduced recovery time and hospital stay, and minimal discomfort to patients is projected to propel the optical fibers in endoscopy market in the near future. However, complications or risk associated with optical fibers such as attenuation and dispersion are likely to hamper the global optical fibers in endoscopy market during the forecast period.

Global Optical Fibers in Endoscopy Market: Segmentation

The global optical fibers in endoscopy market can be segmented based on material, type, and region. In terms of material, the global optical fibers in endoscopy market can be classified into glass optical fibers (GOF) and plastic optical fibers (POF). The glass optical fibers segment is projected to dominate the global optical fibers in endoscopy market. However, the plastic optical fibers segment is expected to expand at a rapid pace in the coming years as plastic optical fibers are cost-effective and lightweight compared to glass optical fibers used in endoscopy. Based on type, the global optical fibers in endoscopy market can be classified into rigid endoscope and flexible endoscope. The flexible fiber optic endoscope segment is expected to expand at a substantial growth rate in the coming years as flexible fiber optic endoscope are composed of multiple bundled fibers and can be easily twisted and bent to visualize inaccessible internal organs and structures of the body. This, in turn, enables the early diagnosis of diseases and is likely to fuel the segment in the next few years.

Global Optical Fibers in Endoscopy Market: Regional Analysis

Based on region, the global optical fibers in endoscopy market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America accounts for a major share of the global optical fibers in endoscopy market. Increase in the geriatric patient pool susceptible to chronic diseases, rise in the number of new cancer cases, and a rise in use of endoscopy in the region are factors contributing to the dominant share of North America in the global market. Europe is anticipated to account for a significant share of the global optical fibers in endoscopy market between 2019 and 2027. Increase in endoscopic procedures for the detection of diseases and presence of well-established manufacturers are major factors expected to drive the market in Europe. The optical fibers in endoscopy market in Asia Pacific, which includes countries such as China, India, and Japan, is projected to expand rapidly during the forecast period. This is due to a rise in the number of baby boomers with chronic ailments and rise in disposable income in these countries.

Global Optical Fibers in Endoscopy Market: Competitive Landscape

Major players operating in the global optical fibers in endoscopy market include Boston Scientific Corporation, Hoya Corporation, Olympus Corporation, Fujifilm Holdings Corporation, KARL STORZ GmbH & Co. KG, XION GmbH, Happersberger otopront GmbH, Cogentix Medical (Vision Sciences Inc.), SCHOTT AG, Vimex Sp. z o.o., and Strauss Surgical.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Optical Fibers In Endoscopy Market

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