Medical Fiber Optics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
The use of fiber optics has for decades been prevalent in the medical industry, particularly evident in its commercialization in endoscopic imaging applications. Since then, there have been several forces at work that promote the use of medical fiber optics in advanced biomedical instrumentation, notably in imaging technologies. The drive for the medical optics market stems from their marked potential of the technology in biomedical sensing. They have thus become an advanced sensing technology to be used in CT, PET, and SPECT systems. In addition, medical optics have become part of ablative instrumentation. The medical fiber optics market has evolved underpinned by the minimally-invasive diagnostics and therapeutics that work on fiber-optic sensing mechanisms. Major areas of application in the medical optics market are X-ray imaging, ophthalmic lasers, surgical instrumentation, ophthalmic lasers, and dental hand pieces.
Fiber optics thus become a key enabler for the standard of care in the healthcare systems world over. Salient characteristics that make a versatile component in wide range of diagnostic devices and surgical instruments are their being immune to strong electromagnetic fields, their non-toxicity, and chemical inertness. The broad imperative for advances in the medical fiber optics market is the need for improvements in the diagnosis, monitoring, and treatment of diseases for a rapidly aging worldwide populations. There is a consistent demand for minimally-invasive surgeries in neurology, gastroenterology, and cardiology. Surgeons are increasingly deploying instrumentation equipped with miniaturized sensing technology, thus boosting the prospects of the medical fiber optics market.
Growing popularity of disposable sensing catheters has bolstered the uptake of fiber optics in medical diagnosis and treatment technologies. Additionally, world over, medical fiber optics help in advancing kidney care by being part of surgical technologies used in urology. Strides made in medical instrumentation technology have propelled the prospects of the use of fiber optics in sensing technologies.
Optical equipment manufacturers have been harnessing the potential of medical fiber optics for cutting-edge sensing technologies used in wide range of diagnostics and surgical instrumentation. Growing body of research in fiber optics for medical applications is paving way to next-generation diagnostics for humans. Investigators from Italian Institute of Technology (IIT) and the University of Salento, recently teamed up and developed an optics mechanism to capture and pinpoint the epicenter of neural activity in the brain. The new development—using tapered optical probe--is considered to have transformative potential in neuroscience. The fiber optics technology can map connections across different brain regions by capturing light coming from different neurons lying over a long distance. The study comes under the aegis of the European Union’s Horizon 2020 research and innovation program, and is also funded by the National Institutes of Health.
Growing quantum of research grants will expand the potential of the medical fiber optics market by bringing novel technologies to the healthcare fraternity.
Some of the players vying for substantial stakes in the medical fiber optics market are IPG Photonics, Vitalcor Inc., Laserscope, and American Medical System LLC (AMS).
Various regions contributing revenues in the global medical fiber optics market notably comprise North America, Europe, the Middle East and Africa, Europe, and Latin America. Of these, North America has shown great proclivity for rapid uptake of medical fiber optics. Numerous medical organizations are supporting the application of the technology in advanced biomedical instrumentation. On the other hand, Asia Pacific is expected to rise at prominent pace in the global medical fiber optics market, attributed to the growth coming from constantly advancing diagnostic technologies in its healthcare systems. Emerging economies are seeing substantial demands for medical optical fiber as an advanced bio-sensing in used in minimally-invasive surgeries.
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Latest Trends and Cardinal Growth Prospects
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Existing and Future Insights in Growth
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
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This report is the key to questions such as:
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