Global Industry Analysts, Inc.:Surging Demand for Medical Fiber Optic Systems Drives the Global Medical Fiber Optics Market
Innovative and new areas of medicine, in which fiber optics can be used, have created abundant opportunities for medical fiber optics. Of late, fiber optic sensors have gained prominence in the medical field, owing to their accuracy, small size, and safety (non-electrical). Fiber optics are primarily used for site illumination in a majority of medical applications. They are used as standalone light sources (as in surgical lights, dental lights) or as integrated components in endoscopes. Fiber optics are also used as laser delivery devices for laser surgery in urology, cardiology, and ophthalmology applications. Other areas of fiber optic applications in the medical field include image transfer, medical X-ray, and sensors. Also, fiber optics are increasingly being used in developing equipment and tools, which aid in minimally invasive surgery and diagnostics. Growing demand for fiber optics in the healthcare sector is pushing suppliers to expand product capacity and manufacturers to focus on developing fibers, which provide enhanced performance and control feature, when compared to the previous versions. For instance, lasers have become more precise than their former versions and cost much less than before. Fibers, on the other hand, are coated with fluorescent dyes, to enable them to transmit weak signals and signals that have to go through curved paths in sophisticated instruments. Additionally, advancements in fiber optic networks are transforming the medical world by merging diagnostic radiology and communication technologies.
Fiber optics sensors continue to find new avenues in the medical equipment and healthcare markets. Market prospects for fiber optics sensors continue to increase as developments continue to grow in the area of medical equipment in applications, such as diagnosis, disease treatment, monitoring and surgery that are prompting the implementation of high-quality and efficient products and technologies. Novel applications for fiber optics in this area include surgical procedures, cancer diagnosis, as well as remote healthcare monitoring. In another instance, fiber lasers that use optical fiber in the form of a waveguide for delivering laser beam has gained rapid popularity in the area of biotechnology and medical equipment. Key factors driving their popularity include their safety features as well as higher efficiency. Major applications of fiber optical laser include oral therapy, medical cosmetology, surgery, cell and tissue analyses, and in biological projects such as DNA sequencing.
The US represents the largest market, as stated by the new market research report on Medical Fiber Optics. Asia-Pacific represents the fastest growing market for medical fiber optics. The market is projected to post a compounded annual growth rate of 7.4% over the analysis period. Endoscopes represent the most popular medical application that uses fiber optics for illumination and imaging. Endoscopes are fiberscopes or fiber optic examining scopes that use optical fibers for illumination of the area under examination. Factors driving growth of endoscopes market include the introduction of High Definition (HD) systems, growing prevalence of gastrointestinal diseases, including esophagitis and colorectal cancer, and increased patient awareness of diseases that is resulting in increased disease screening procedures. Laser fiberoptics, registering a CAGR of 7.5% over the analysis period, represents the fastest growing application. Laser fiberoptics are widely used in cardiology and urological applications.
Major players profiled in the report include Biolitec AG, CardioGenesis Corp., Coherent Inc., IPG Photonics Corp., Laserscope, Newport Corp., Rofin-Sinar Technologies, Spectranetics Corp., Sunoptic Technologies LLC, Trimedyne Inc., TRUMPF GmbH + Co. KG, Vitalcor Inc., Applied Fiberoptics Inc., among others.
The research report titled "Medical Fiber Optics: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the Medical Fiber Optics market, current market trends, key growth drivers, new product innovations/launches, recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for the global Medical Fiber Optics market for the years 2009 through 2017 for the regions, including US, Canada, Japan, Europe, Asia-Pacific, and Latin America. Key application segments analyzed in the report include Fiberoptic Surgical Lights, Fiberoptic Dental Lights, Endoscopes, Laser Fiberoptics, Fiberoptic Sensors, and Others (Medical Fiberoptic Connectors and Imaging/X-ray Fiberoptics). Also, a six-year (2003-2008) historic analysis is provided for an additional perspective.