Global Medical Fiber Optics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Medical Fiber Optics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Fiber optics have been used in the medical industry for years. The physical characteristics of fiber make it a natural choice for many different applications. Commonly used for illumination, flexible image bundles, light conductors, flexible light guides, laser delivery systems, and equipment interconnects, fiber optics provide a very compact, flexible conduit for light or data delivery in equipment, surgical, and instrumentation applications.

Market Overview:

The latest research study on the global Medical Fiber Optics market finds that the global Medical Fiber Optics market reached a value of USD 1149.93 million in 2022. It’s expected that the market will achieve USD 1481.6 million by 2028, exhibiting a CAGR of 4.31% during the forecast period.

Drivers

Due to the advancement of medical facilities, the increasing use of endoscopes and government-supported initiatives is expected to increase China's demand for medical fiber. With the rapid development of China's economy, the increase in disposable income levels, and the improvement of patient awareness, the further improvement of the national medical system has promoted the growth of the medical fiber optics market in the region.

In recent years, the Indian medical industry has developed rapidly, with an average annual growth rate of 16.5%. The increase in per capita income, the convenience of access to high-quality medical facilities, and the increase in the popularity of national health knowledge are the main reasons for the rapid development of the Indian medical industry. The existence of a large number of hospitals with machines that support medical fiber technology and rapid economic growth is the reason for the growth of the medical fiber optics market.

The Latin American economy has generally recovered well and the overall momentum is upward. It is expected to become a new market for new medical devices, and its growth space is very broad. South American countries, represented by Mexico, Brazil, Chile and Venezuela, have experienced rapid economic growth in recent years, and Latin America has now become a new impetus for world economic growth. As major economies in Latin America, such as Brazil, Mexico, Argentina, Venezuela and Chile, have developed well over the past decade, their health care sector has sufficient funds to import medical device products. The production of medical devices in the country has also entered a rapid development.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Leoni AG, Boston Scientific and Heraeus with the revenue market share of 6.93%, 5.16% and 4.59% in 2018.

LEONI AG, together with its subsidiaries, provides products, solutions, and services for energy and data management in the automotive sector and other industries worldwide. It operates in two divisions, Wiring Systems, and Wire & Cable Solutions. The Wiring Systems division provides complete wiring systems and customized cable harnesses for the motor vehicle industry. Its products and services comprise cable harnesses through to integrated wiring systems, high-voltage wiring systems for hybrid and electric vehicles, energy distribution components, and special connectors, as well as related services. The Wire & Cable Solutions division manufactures and sells wire and cable systems; and provides intelligent energy transmission and data management system solutions. This segment offers a range of products and services, such as wires, strands, optical fibers, standardized cables, special cables, and fully assembled systems, as well as related services for customers in the automotive, capital goods, medical technology, telecommunications, energy, and infrastructure industries.

Boston Scientific manufactures and markets medical solutions for heart, digestive, pulmonary, vascular, urological and chronic diseases. Boston Scientific's headquarters is in Marlborough, Massachusetts.

Segmentation Overview:

Among different product types, Silica Fiber/Glass Fiber segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Illumination segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Medical Fiber Optics market covered in Chapter 3:

Biolitec
Schott AG
Sunoptic Technologies
Furukawa Electric
Leoni AG
Fiberoptics Technology Incorporated
Gulf Fiberoptics
Corning Incorporated
Boston Scientific
Timbercon
Coherent
Heraeus
Fiberguide (Halma)
Molex (Koch)

In Chapter 4 and Chapter 14.2, on the basis of types, the Medical Fiber Optics market from 2018 to 2029 is primarily split into:

Plastic Fiber
Silica Fiber/Glass Fiber

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Medical Fiber Optics market from 2018 to 2029 covers:

Fiber-optic Beam Delivery
Image Transfer
Illumination
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)