Medical Fiber Optics Market to Expand at 7.60% CAGR 2013-2019 due to Growing Trend of Developing Miniature Medical Devices
Transparency Market Research (TMR) has announced the addition of a new market study on the medical fiber optics market. The report analyzes the drivers and restraints of the market. The report is titled “Medical Fiber Optics Market - Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2013 - 2019.” As per the findings in the report, the global medical fiber optics market, which was valued at US$863.1 mn in 2013, will rise to US$1.33 bn by 2019, exhibiting a CAGR of 7.60% from 2013 through 2019.
Browse the full Medical Fiber Optics Market- Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2013 - 2019 report at https://www.transparencymarketresearch.com/medical-fiber-optics-market.html
The use of fiber optics for minimally invasive surgeries is one of the major drivers of the global medical fiber optics market. Medical fiber optics technology is being used in x-ray imaging, light therapy, ophthalmic lasers, lab and clinical diagnostics, surgical and diagnostic instrumentation, surgical microscopy, dental head pieces, and endoscopy. Thus, the rising applications of medical fiber optics technology are expected to propel the growth of the market.
The trend of developing miniature medical devices is also increasing the demand for medical fiber optics technology. The rapid growth in the medical fiber technology field is further expected to drive the market in the coming years. On the other hand, the market is restricted by stringent regulations regarding the high risk associated with intensity of light, which is also proving to be a challenge for the market’s growth. However, fiber optics is gaining importance in optical coherence tomography. This will open new doors of opportunity in the global medical fiber optics market.
The global medical fiber optics market is segmented on the basis of application and geography. On the basis of application, the market is segmented into fiberoptic surgical lights, endoscopes, laser fiberoptics, fiberoptic dental lights, and fiberoptic sensors. Of these, the endoscopes segment emerged as a leading segment in 2013 and is expected to expand at an 8.10% CAGR in the period from 2013 to 2019. The endoscopes segment was valued at US$339.8 mn in 2013 and is anticipated to rise to US$543 mn by the end of 2019.
On the basis of geography, the global medical fiber optics market is segmented into North America, Europe, Asia, and the Rest of the World. North America led the market in 2013 due to high demand for minimally invasive surgeries. North America is expected to continue to dominate the global medical fiber optics market from 2013 to 2019, but Asia is expected to be the fastest-growing regional market.
The report profiles the leading operators in the global medical fiber optics market. The strategies adopted by the leading players have been included. The challenges faced by the players, the factors driving their growth, and the recent developments of each of the players have been given in the report. The business overview and financial overview are also included. The companies studied are: Rofin, Leoni AG, Schott, IPG Photonics, Trumph, American Medical System, Sunoptic Technologies, Timbercon Inc., Vitalcor Inc., and Coherent Inc.
The global medical fiber optics market is segmented as follows:
- Laser fiberoptics
- Fiberoptic surgical lights
- Fiberoptic dental lights
- Fiberoptic sensors
- North America
- Rest of the World (RoW)
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