According to a new market report published by Persistence Market Research “Global Market Study on Medical Fiber Optics: Asia to Witness Highest Growth by 2019,” the global medical fiber optics market was valued at USD 863.1 million in 2013 and is expected to grow at a CAGR of 7.6% from 2013 to 2019, to reach an estimated value of USD 1,336.1 million in 2019.
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Optical fiber is a flexible, transparent fiber made up of high quality glass, plastic and silica. Fiber optics technology has exciting new fields of applications in the medical industry. Fiber optics is commonly used for illumination and light conductors, flexible image bundles, flexible light guides and laser delivery systems. The medical fiber optics market is witnessing significant growth due to increased applications of fiber optics for minimally invasive surgeries, increased demand for advanced diagnostic technologies and rapid development in medical fiber optics technology. There has been a substantial rise in the number of medical fiber optic applications including X-ray imaging, ophthalmic lasers, light therapy, lab and clinical diagnostics, dental head pieces, surgical and diagnostic instrumentation, surgical microscopy and endoscopy. Thus, these innovative applications of medical fiber optic technology are also driving growth of the market. In addition, miniaturization of medical devices has also increased the demand for medical fiber optics technology.
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On the other hand, stringent regulations and standards impede growth of the medical fiber optics market. The risk associated with high intensity of lights also restrains growth of the medical fiber optics market. Medical fiber optics technology uses high intensity of light for treatment and surgeries of cancer and ophthalmic diseases. This light disrupts the tissue in histopathology examination.
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According to a new market report published by Persistence Market Research “Global Market Study on Microfluidic Devices: Asia to Witness Highest Growth by 2019” the global microfluidic device market was valued at USD 1,531.2 million in 2013 and is expected to grow at a CAGR of 22.8% from 2013 to 2019, to reach an estimated value of USD 5,246.4 million in 2019.
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Globally, the microfluidic device market is witnessing significant growth due to increasing R&D investment in pharmaceuticals, life science and rising point of care testing demand. New trends in healthcare, such as health care at home, supports point of care testing (POCT) as the most efficient and effective delivery of healthcare. Miniaturization also reduces the cost for screening compounds in pharmaceutical companies for cell biology problems. In addition, microfluidic proteomic devices are increasingly being used to quantify and identify proteins and to study interactions of different proteins with reagent in array. Different materials such as glass, silicon, polymer metal and ceramics, are used to manufacture microfluidic devices. The global microfluidic device market was valued at USD 1,531.2 million in 2013. It is likely to grow at a CAGR of 22.8% during 2013 to 2019 to reach USD 5,246.4 million in 2019.
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In North America, rising aging population, increasing health awareness, rising chronic and lifestyle diseases, technological developments for various home use applications, and proper insurance coverage are driving the use of microfluidic devices in the market. Usage of microfluidic technology in North America is high compared to other regions of the world due to its early adoption and multiple applications in different industries.
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