Fiberscope Market - Forecasts from 2024 to 2029

Fiberscope Market - Forecasts from 2024 to 2029

Fiberscope market is projected to grow at a CAGR of 8.91% during the forecast period to reach US$11.536 billion by 2029, from US$6.348 billion in 2022.

A fiberscope is a flexible optical fiber bundle with an eyepiece on one end and a lens on the other, which is used to study and check small, hard-to-reach places like the insides of machinery, locks, and the human body. Fiberscope lenses are incapable of capturing high-resolution images.

The quality of images captured by a fiberscope is comparable to that of those captured by a night vision camera. Endoscopy, bronchoscopy, and gastroscopy are all procedures that use fiberscopes. Total internal reflection is used by fiber-optic cables in fiberscopes to rely on information visually. Doctors can use fiberscopes to examine the patient's body without making big incisions.

The fiberscope market is predicted to increase due to its minimally invasive nature, which is expected to fuel growth throughout the forecast period.

Market Drivers:

Rising healthcare expenditure due to health concerns and increased usage of fiberscopes in minimally invasive operations-

Minimally invasive treatments are used by a vast number of surgeons to remove tumors or malignant growths from the body. The use of minimally invasive techniques resulted in better outcomes. Many patients prefer minimally invasive treatments over other standard procedures due to reduced risks and less operation time.

Flexible endoscopes are widely employed in diagnostic and therapeutic procedures for illness diagnosis and treatment. As a result, the need for fiberscopes is increasing, which allows for flexible insertion to prevent blood loss and infection. Furthermore, demand for fiberscopes is expected to increase throughout the forecast period due to rising demand across several business verticals and R&D activities taking place in various countries.
Increased use of fiberscopes for surveillance and investigation-

Surveillance and investigation equipment used to be larger in size, but smaller equipment built using fiberscope technology is progressively being substituted, giving the investigator an edge. The increasing usage of fibercopes by governments of various nations for security monitoring purposes is also expected to support market expansion over the projection period.

The Whistler Group's Whistler WIC-5200 inspection camera is one example of a fiberscope used in surveillance and investigation. These devices are extremely beneficial when looking in difficult-to-reach areas, and as a result of their increased use, the fiberscope market is expected to rise significantly throughout the projected period.

Market Segmentation:

By procedure, the global fiberscope market is segmented into bronchoscopy, arthroscopy, colonoscopy, vascular fibroscopy, cystoscopy, and others. Due to advantages such as the decreased risk of infection and blood loss, the endoscopy segment is expected to account for a high part of the market. By end-user, the global fiberscope market is segmented into healthcare, military and defense, automotive, manufacturing, and others.

Owing to the rapidly increasing trend of minimally invasive operations, the healthcare segment is expected to acquire a significant share of the fiberscopes market during the projected period. Due to increased public knowledge of endoscopic treatments for diagnostic and therapeutic purposes, fiberscopes are being widely used in the healthcare industry.

By geography, the Global fiberscope market is segmented into five regions North America, Europe, South America, the Middle East and Africa, and Asia Pacific regions:

Due to the presence of a sophisticated healthcare system and a large number of endoscopic procedures performed in the region, the North American region is expected to hold a major market share. Because the adoption of new technologies is faster in the United States and Europe, North America, and Europe are expected to account for the majority of the worldwide fiberscopes market during the forecast period. Because of the rise of minimally invasive surgeries in the region, the Asia Pacific region is expected to see significant growth.

Market Developments:

March 2022- The introduction of Olympus' premium single-use bronchoscope portfolio marked another milestone in the advancement of technology in respiratory care. It seamlessly combines convenience and workflow efficiencies while enhancing utility in complex procedures, offering a valuable complement to the bronchoscope mix within healthcare facilities.

Market Segmentation
By Procedure
Arthroscopy
Bronchoscopy
Vascular Fibroscopy
Cystoscopy
Colonoscopy
Others
By End-User
Healthcare
Military and Defense
Automotive
Manufacturing
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
Japan
China
India
South Korea
Others