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. There has been a substantial rise in the number of medical fiber optics 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, the rise in the number of applications of medical fiber optic technology is driving the market growth. In addition, miniaturization of medical devices has also increased the demand for medical fiber optics technology. 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. 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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North America is the largest market and Endoscope is the largest segment in the global market for medical fiber optics technology. However, Asia is the fastest growing region in medical fiber optics market. Additionally, Laser fiberoptics is the fastest growing technology in the global market of medical fiber optics technology.
Endoscopes commanded the largest share of about USD 339.8 million, in the overall medical fiber optics market in 2013. It is expected to reach USD 543 million in 2019, growing at a CAGR of 8.1% from 2013 to 2019.
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