Transparency Market Research includes new market research report "Medical Fiber Optics Market- Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2013 - 2019" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 04/14/2015 -- A new report published by Transparency Market Research (TMR) is titled "Medical Fiber Optics Market - Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2013 - 2019". The report gives an assessment of the global medical fiber optics market and helps the reader in identifying the strengths, weaknesses, opportunities, and threats relating to the market. According to the report the global medical fiber optics market was valued at US$863.1 million in 2013 and is expected to reach US$1,336.1 million by 2019, growing at a CAGR of 7.6% from 2013 to 2019.
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The global medical fiber optics market is primarily driven by its ability to assist minimally-invasive surgeries and tremendous advancements in technologies used for diagnosis. The other key reason driving this market is the development of medical fiber optics for adoption in applications such as lab and clinical diagnostics, X-ray imaging, ophthalmic lasers, surgical microscopy, dental head pieces, surgical and diagnostic instrumentation, and endoscopic procedures. The global medical fiber optics market will expand further as the applications of medical fiber optics continue to increase.Though the global medical fiber optics market has strong reasons supporting its growth, there are several other factors that are pulling it downwards. Some of the key challenges faced by the global medical fiber optics market are stringent regulatory frameworks set by governing bodies, high compliance standards, and risks related to high-intensity fiber optic lights, which are known to disrupt tissue during histopathology examination.
The global medical fiber optics market is segmented on the basis of application and geography. The application segment of the global medical fiber optics market includes the sub-segments of laser fiberoptics, fiberoptic surgical lights, endoscopes, fiberoptic dental lights, fiberoptic sensors, and others. Geographically, this market is divided into North America, Europe, Asia, and Rest of the World.
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According to analysts, North America has the largest share in the global fiber optics market, due to the established network of advanced medical and healthcare infrastructure. Due to the high number of minimally invasive surgeries, the market for medical fiber optics has grown considerably in this region. Europe follows North America closely, with regions such as France, Germany, and the United Kingdom leading the European market. In the coming few years, Asia Pacific is expected to witness the fastest growth rate in the global medical fiber optics market, as the region is on the verge of an infrastructural boom with supportive government policies. In addition to this, a huge population base and an increasing geriatric segment within it will also contribute to the growth of the medical fiber optics market in this region.
The key players in the global medical fiber optics market are IPG Photonics, Leoni AG, Coherent Inc., Trumpf, Rofin, Schott, and American Medical System. The report offers an in-depth insight of the research and development activities of these companies, along with their marketing strategies, potential mergers and acquisitions, list of existing products and those in the pipeline, and their growth strategies.
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