Optical Fibers in Endoscopy Market By Material (Glass optic fibers (GOF) in endoscopy, Plastic optic fibers (POF) in endoscopy), By Type (Rigid endoscopy, Flexible endoscopy): Global Opportunity Analysis and Industry Forecast, 2021-2030
The optical fibers in endoscopy market was valued at $869.02 million in 2020, and is estimated to reach $1471.24 million by 2030, growing at a CAGR of 5.4% from 2021 to 2030. Optical fibers are used to transmit information in the form of light. An endoscope consists of two to three optical cables, of which one carries light into the patient's body, whereas the other carries reflected light (image of patient’s body) back up to the physician's eyepiece, which is then displayed on TV monitor.
The growth of the global optical fibers in endoscopy market is attributed to rise in geriatric population, which is at a higher risk of diseases such as orthopedic diseases, gastrointestinal conditions, ophthalmic diseases, and GI cancer. Moreover, rise in adoption of endoscopy due to several benefits such as reduction of risk of complications, minimal scarring, and reduced hospital stays boosts the market for endoscopy, which, in turn, escalates the use of optical fibers. For instance, in May 2021, Boston Scientific Corporation launched new SpyGlass Visualization system for single operator duodenoscope. SpyGlass is an innovative system that requires just one physician operator, providing unprecedented, direct visualization of all bile duct quadrants. These aforementioned factors have fostered the growth of the optical fibers endoscopy market.
Furthermore, owing to high demand for optical fibers in R&D activities coupled with rise in production of optical fibers and surge in use for the diagnosis of diseases have boosted the growth of the market.
Conversely, problems associated with use of optic fibers such as risk of attenuation and dispersion are expected to hinder the market growth. People, presently, are more aware of health, which, in turn, compels them to maintain their health condition and increase demand for optical fibers in endoscopy to detect infection. This has further encouraged many key players to enter emerging markets, thus offering a lucrative growth opportunity.
The global optical fibers in endoscopy market is segmented into material, type, and region. By material, the market is categorized into glass optical fibers in endoscopy and plastic optical fibers in endoscopy. On the basis of type, it is fragmented into rigid endoscopy and flexible endoscopy.
Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.Some of the major companies that operate in the global optical fibers in endoscopy market are Boston Scientific Corporation, Cognetix Medical, Fujifilm Holdings Corporation, Happersberger Otopront GmbH, Karl Storz GmbH & Co. KG, Olympus Corporation, Pentax Medical, Strauss Surgical, Vimex SP.Z O.O (Vimex Endoscopy), and Xion GmbH .
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the optical fibers in endoscopy market analysis from 2020 to 2030 to identify the prevailing optical fibers in endoscopy market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the optical fibers in endoscopy market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global optical fibers in endoscopy market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By TypeRigid endoscopy
Flexible endoscopy
By MaterialGlass optic fibers (GOF) in endoscopy
Plastic optic fibers (POF) in endoscopy
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
COGENTIX MEDICAL
KARL STORZ GMBH & CO. KG
HAPPERSBERGER OTOPRONT GMBH
STRAUSS SURGICAL
PENTAX MEDICAL (HOYA CORPORATION)
FUJIFILM Holdings Corporation
Boston Scientific Corporation
VIMEX SP. Z O.O (VIMEX ENDOSCOPY)
XION GMBH
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