Overview
of the medical fiber optics market
The
findings of this market study indicate that the global medical fiber
optics market-which was valued at US$ 863.1 million in 2013-will
register a CAGR of 7.6% between 2013 and 2019, and is estimated to
grow to US$1,336.1 million by 2019. This moderately healthy rate of
growth will be spurred by several factors such as a rising preference
for surgeries that are minimally-invasive (where fiber optics lend
better maneuverability) and the advancement in diagnostic
technologies. While there are many other factors that work in the
favor of this market, the two aforementioned factors alone will drive
growth to a large extent.
The
secondary factors that will bring about the development of the
medical fiber optics market are applications such as: light therapy,
X-ray imaging, lab and clinical diagnostics, ophthalmic lasers,
dental head pieces, surgical microscopy, surgical and diagnostic
instrumentation, and endoscopy. As the scope of these applications
continues to expand, the market for medical fiber optics will reap
the benefits. Fiber optics also complements the miniaturization of
medical devices—a factor that cannot be overlooked while studying
this market.
Yet,
this players and key stakeholders in this market will have to plan
strategies around key challenges such as: the increasingly stringent
nature of regulations governing the medical fiber optics market,
strict standards of compliance, and the risks associated with
high-intensity fiber optic lights, as these lights are known to
disrupt tissue during histopathology examination.
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Market Research
Report:
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A
geographical overview of the medical fiber optics market
By
geography, the largest medical fiber optics market is North America.
Here, medical infrastructure is better than that in most other
geographical regions. The number of minimally-invasive surgeries
conducted in North America each year is considerably high. This has
created immense opportunities for the use of medical fiber optics.
Market growth is also supported via the initiatives taken by industry
bodies such as the Society of Laparoendoscopic Surgeons, Association
of Canadian Academic Healthcare Organizations (ACAHO), and the
Canadian Healthcare Association (CHA).
Besides
North America, developed European countries such as the United
Kingdom, Germany, and France boast modern healthcare systems that
have reported an increasing adoption of medical fiber optics.
However, growth here will be moderate. The fastest growing region
within the global medical fiber optics market will be Asia, where
infrastructure development is firmly on track, and the formulation of
favorable government policies has been highly beneficial. Besides
these aspects, the diagnosis of diseases and age-related disorders is
on an upswing.
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