North America Medical Fiber Optics Market By Application (Illumination, Endoscopic Imaging, Biomedical Sensing, Laser Signal Delivery, and Other Applications), By Fiber Type (Multimode Optical Fiber and Single Mode Optical Fiber), By Country, Industry Analysis and Forecast, 2020 - 2026
The North America Medical Fiber Optics Market would witness market growth of 7.8% CAGR during the forecast period (2020-2026).
The unique properties of fiber optics collectively prove to be a perfect material for the advancement of complex biomedical instrumentation. These tools conform to easy surgical procedures and diagnostic examinations. Altogether, the development of this advanced technology continues to open doors in areas including neurology, gastroenterology, cardiology, and many more. In the coming years, the requirements of biomedical equipment are anticipated to dominate the market.
The physical attributes of fiber, for example, its flexibility and lightweight, making it perfect for a wide range of medical applications. Minimally invasive surgery is one of the primary reasons for the demand for fiber optics in the market. Due to an increase in the number of diseases like kidney stones, cancer, cardiovascular, and arthritis, most of the world population is seeking the use of these tools in minimally invasive surgery. The minimally invasive surgery allows less pain during operations, faster recovery time, and lower risk of infection for the patient. On the contrary, traditional surgery exposes tissues and organs through large incisions.
One of the most common utilization of fiber optics in medication is in the imaging and light segments of endoscopes. The multifiber offers features like flexibility, yet rigidity that helps visualization of internal organs and tissue clearer. Various surgeons prefer using endoscopes to investigate symptoms such as nausea and abdominal pain. It is also used for performing biopsies or providing medical treatment.
Based on Application, the market is segmented into Illumination, Endoscopic Imaging, Biomedical Sensing, Laser Signal Delivery, and Other Applications. Based on Fiber Type, the market is segmented into Multimode Optical Fiber and Single Mode Optical Fiber. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include MKS Instruments, Inc. (Newport Corporation), IPG Photonics Corporation, Coherent, Inc., LEONI Group, Fiberoptics Technology, Inc., Timbercon, Inc. (Radiall America, Inc.), Gulf Fiberoptics, Inc., Sunoptic Technologies, LLC, Vitalcor, Inc., and Infinite Electronics, Inc. (Integra Optics, Inc.).
Scope of the Study
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