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Medical Fiber Optics Market Revenue on Track to US$ 1,544.7 Million by 2024

Press Release   •   Feb 23, 2017 01:58 EST

The popularity of minimally invasive surgeries is boosting the growth of the global medical fiber optics market

MIS is a surgical procedure performed through tiny incisions – instead of a large opening – on the patient’s body. This procedure is fast gaining popularity across various hospitals and clinics throughout the globe, owing to benefits such as reduced bleeding, shorter length of hospitalization, low cost, and fewer medical complications. Fiber optics are flexible, light and can be placed in space-restricted environments such as instrument catheters for highly localized measurements and are ideal for MIS. This is expected to increase global demand for fiber optics in MIS during the assessment period.

In 2015, the global medical fiber optics market was valued at US$ 916.8 Mn. By 2024, the global medical fiber optics market is expected to reach a market valuation of US$ 1,544.7 Mn, growing at a CAGR of 6.1%. The global medical fiber optics market is estimated to create absolute dollar opportunity of US$ 63.5 Mn in 2017 over 2016.

Global Medical Fiber Optics Market Analysis and Forecast by Application, 2016–2024

  • Image transmission segment forecast
    • In 2015, the image transmission segment was valued at US$ 149.9 Mn and is expected to reach a value in excess of US$ 250 Mn by 2024, registering a CAGR of 6.3%
    • The image transmission segment is estimated to create absolute $ opportunity of US$ 11.3 Mn in 2017 over 2016
  • Illumination segment forecast
    • In 2015, the illumination segment was valued at US$ 464.7 Mn and is expected to reach a market valuation more than US$ 730 Mn by 2024, expanding at a CAGR of 5.5%
    • The illumination segment is estimated to create absolute $ opportunity of US$ 29.8 Mn in 2017 over 2016

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  • Laser signal delivery segment forecast
    • In 2015, the laser signal delivery segment was valued at US$ 111.3 Mn and is expected to reach a value of almost US$ 214 Mn by 2024, registering a CAGR of 5.2%
    • The laser signal delivery segment is estimated to create absolute $ opportunity of US$ 9.2 Mn in 2017 over 2016

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Global Medical Fiber Optics Market Analysis and Forecast by End Users, 2016–2024

  • Hospitals segment forecast
    • In 2015, the hospitals segment was valued at US$ 455.4 Mn and is expected to reach a value in excess of US$ 785 Mn by 2024, expanding at a CAGR of 6.3%
    • The hospitals segment is estimated to create absolute $ opportunity of US$ 32.4 Mn in 2017 over 2016

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  • Specialty clinics segment forecast
    • In 2015, the specialty clinics segment was valued at US$ 174.4 Mn and is expected to reach a market value close to US$ 290 Mn by 2024, exhibiting a CAGR of 5.5%
    • The specialty clinics segment is estimated to create absolute $ opportunity of US$ 11.6 Mn in 2017 over 2016
  • Ambulatory surgical centers segment forecast
    • In 2015, the ambulatory surgical centers segment was valued at US$ 136.9 Mn and is expected to reach a market valuation of over US$ 210 Mn by 2024, increasing at a CAGR of 5.2%
    • The ambulatory surgical centers segment is estimated to create absolute $ opportunity of US$ 8.4 Mn in 2017 over 2016

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