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. Medical Fiber Optics application include X-ray imaging, lab and clinical diagnostics, ophthalmic lasers, light therapy, dental hand pieces, surgical, diagnostic instrumentation, surgical microscopy and endoscopy.
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Globally, 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. Moreover, innovative applications of medical fiber optic technology are also driving growth of the market. In addition, miniaturization of medical devices holds immense potential for growth of medical fiber optics market. Presence of various medical applications such as, fiberoptic surgical lights, fiberoptic dental lights, endoscopes, laser fiberoptics and fiberoptic sensors, has increased the importance of fiber optics for the treatment of various diseases.
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North America is the largest market for medical fiber optics. Endoscope holds largest market share in global medical fiber optics market. However, Asia is the fastest growing region in medical fiber optics market. Additionally, Laser fiberoptics is the fastest growing technology in the global medical fiber optics market.
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The global medical fiber optics market was valued at USD 863.1 million in 2013 and is likely to grow a CAGR of 7.6% from 2013 to 2019 to reach USD 1,336.1 million by 2019.
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