Medical Fiber Optics Market- Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2013 - 2019
Albany, NY -- (SBWIRE) -- 01/16/2017 -- Transparency Market Research (TMR) has announced the addition of a new market study on the medical fiber optics market. The report analyzes the drivers and restraints of the market. The report is titled "Medical Fiber Optics Market - Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2013 - 2019." As per the findings in the report, the global medical fiber optics market, which was valued at US$863.1 mn in 2013, will rise to US$1.33 bn by 2019, exhibiting a CAGR of 7.60% from 2013 through 2019.
The report pegs the overall value of the global medical fiber optics market at US$863.1 mn in 2013. By the end of 2019, the market is expected to reach an overall valuation of US$1.3 bn. If these figures hold true, the global medical fiber optics market will exhibit a CAGR of 7.60% between 2013 and 2019."The market for medical fiber optics has been substantially capitalizing on technical advancements in medical devices, resulting in their miniaturization," said a lead TMR analyst. "The market is also gaining impetus from the rising demand for advanced technologies and rapid development in fiber technology," he added.
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Despite exhibiting a positive growth trajectory, stringent regulations to ensure high standards and the risk linked with the high intensity of fiber optic lights are some crucial challenges inhibiting the global market for medical fiber optics. Nevertheless, improvements in healthcare infrastructure and medical standards, together with growing awareness about the diverse applications of fiber optics, will enable the market to capitalize on lucrative opportunities in the near future.
The report studies the global medical fiber optics market on two fronts, namely application and regional distribution. Based on application, the global medical fiber optics market is segmented into endoscopes, fiberoptic surgical lights, fiberoptics, fiberoptic sensors, fiberoptic dental lights, and others. Regionally, the market is broadly classified into Asia Pacific, Europe, North America, and Rest of the World.
Among the segments based on applications, the endoscopes segment emerged as the dominant player in 2013, with a valuation of US$339.8 mn. The market for endoscopes is likely to expand at a positive CAGR of 8.10% during the report's forecast period and reach US$543 mn by 2019.
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Regionally, the global medical fiber optics market is dominated by North America, since the region boasts high standards and sophisticated healthcare and medical infrastructure. Apart from this, increasing demand for minimally invasive surgeries from the region also boosts the North America market for medical fiber optics, which through the forecast period will maintain its lead in the global medical fiber optics market.
The report profiles the leading operators in the global medical fiber optics market. The strategies adopted by the leading players have been included. The challenges faced by the players, the factors driving their growth, and the recent developments of each of the players have been given in the report. The business overview and financial overview are also included. The companies studied are: Rofin, Leoni AG, Schott, IPG Photonics, Trumph, American Medical System, Sunoptic Technologies, Timbercon Inc., Vitalcor Inc., and Coherent Inc.