The optical fibers in endoscopy market was valued at $869.02 million in 2020, and is estimated to reach $1.47 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030. Optical fibers are used to transmit information in the form of light. An endoscope consists of two to three optical cables, of which one carries light into the patient's body, whereas the other carries reflected light (image of patient’s body) back up to the physician's eyepiece, which is then displayed on TV monitor.
The growth of the global optical fibers in endoscopy market is attributed to rise in geriatric population, which is at a higher risk of diseases such as orthopedic diseases, gastrointestinal conditions, ophthalmic diseases, and GI cancer. Moreover, rise in adoption of endoscopy due to several benefits such as reduction of risk of complications, minimal scarring, and reduced hospital stays boosts the market for endoscopy, which, in turn, escalates the use of optical fibers. For instance, in May 2021, Boston Scientific Corporation launched new SpyGlass Visualization system for single operator duodenoscope. SpyGlass is an innovative system that requires just one physician operator, providing unprecedented, direct visualization of all bile duct quadrants. These aforementioned factors have fostered the growth of the optical fibers endoscopy market.
Furthermore, owing to high demand for optical fibers in R&D activities coupled with rise in production of optical fibers and surge in use for the diagnosis of diseases have boosted the growth of the market.
Conversely, problems associated with use of optic fibers such as risk of attenuation and dispersion are expected to hinder the market growth. People, presently, are more aware of health, which, in turn, compels them to maintain their health condition and increase demand for optical fibers in endoscopy to detect infection. This has further encouraged many key players to enter emerging markets, thus offering a lucrative growth opportunity.
The global optical fibers in endoscopy market is segmented into material, type, and region. By material, the market is categorized into glass optical fibers in endoscopy and plastic optical fibers in endoscopy. On the basis of type, it is fragmented into rigid endoscopy and flexible endoscopy.
Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global optical fibers in endoscopy market are Boston Scientific Corporation, Cognetix Medical, Fujifilm Holdings Corporation, Happersberger Otopront GmbH, Karl Storz GmbH & Co. KG, Olympus Corporation, Pentax Medical, Strauss Surgical, Vimex SP.Z O.O (Vimex Endoscopy), and Xion GmbH .
The growth of the global optical fibers in endoscopy market is attributed to rise in geriatric population, which is at a higher risk of diseases such as orthopedic diseases, gastrointestinal conditions, ophthalmic diseases, and GI cancer. Moreover, rise in adoption of endoscopy due to several benefits such as reduction of risk of complications, minimal scarring, and reduced hospital stays boosts the market for endoscopy, which, in turn, escalates the use of optical fibers. For instance, in May 2021, Boston Scientific Corporation launched new SpyGlass Visualization system for single operator duodenoscope. SpyGlass is an innovative system that requires just one physician operator, providing unprecedented, direct visualization of all bile duct quadrants. These aforementioned factors have fostered the growth of the optical fibers endoscopy market.
Furthermore, owing to high demand for optical fibers in R&D activities coupled with rise in production of optical fibers and surge in use for the diagnosis of diseases have boosted the growth of the market.
Conversely, problems associated with use of optic fibers such as risk of attenuation and dispersion are expected to hinder the market growth. People, presently, are more aware of health, which, in turn, compels them to maintain their health condition and increase demand for optical fibers in endoscopy to detect infection. This has further encouraged many key players to enter emerging markets, thus offering a lucrative growth opportunity.
The global optical fibers in endoscopy market is segmented into material, type, and region. By material, the market is categorized into glass optical fibers in endoscopy and plastic optical fibers in endoscopy. On the basis of type, it is fragmented into rigid endoscopy and flexible endoscopy.
Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global optical fibers in endoscopy market are Boston Scientific Corporation, Cognetix Medical, Fujifilm Holdings Corporation, Happersberger Otopront GmbH, Karl Storz GmbH & Co. KG, Olympus Corporation, Pentax Medical, Strauss Surgical, Vimex SP.Z O.O (Vimex Endoscopy), and Xion GmbH .
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the optical fibers in endoscopy market analysis from 2020 to 2030 to identify the prevailing optical fibers in endoscopy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the optical fibers in endoscopy market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global optical fibers in endoscopy market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Rigid endoscopy
- Flexible endoscopy
By Material
- Glass optic fibers (GOF) in endoscopy
- Plastic optic fibers (POF) in endoscopy
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- COGENTIX MEDICAL
- KARL STORZ GMBH & CO. KG
- HAPPERSBERGER OTOPRONT GMBH
- STRAUSS SURGICAL
- PENTAX MEDICAL (HOYA CORPORATION)
- FUJIFILM Holdings Corporation
- Boston Scientific Corporation
- VIMEX SP. Z O.O (VIMEX ENDOSCOPY)
- XION GMBH
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: OPTICAL FIBERS IN ENDOSCOPY MARKET, BY MATERIAL
CHAPTER 5: OPTICAL FIBERS IN ENDOSCOPY MARKET, BY TYPE
CHAPTER 6: OPTICAL FIBERS IN ENDOSCOPY MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the optical fibers in endoscopy market was valued at $869.02 million in 2020, and is estimated to reach $1.5 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.Optical fibers in endoscope are narrow tubes of fibers used to transmit light into the patient's body. Non-coherent fiber optic bundles transmit the light to a specific area, whereas coherent fiber optic bundle transmits the final image, which is then examined by the doctor.
The factors that drive the growth of the Optical Fibers in Endoscopy Market Size include rise in applicability of optical fibers in the medical sector such as hospitals and clinics, in terms of both patients and investing firms. Moreover, rise in geriatric population and increase in usage to reduce complications & risks related with diseases such as cancer further drive the optical fibers in endoscopy market growth. Conversely, in Optical Fibers in Endoscopy Market Analysis, large-scale production of optical fibers in endoscopy and high growth potential in untapped emerging economies are expected to open new avenues for the expansion of the global Optical Fibers in Endoscopy Market Growth during the forecast period.
Surge in patient population suffering from colorectal cancer & gastrointestinal disorder and technological advancements leading to production of effective optical fibers in endoscopy devices notably contribute toward the market growth in Optical Fibers in Endoscopy Market Forecast. For instance, in August 2019, according to World Ageing 2019 report, there were around 703 million people aged 65 years or more in the world. Therefore, increase in the number of older population escalates the risk of chronic diseases, which increase the usage of optical fibers, thus boosting the market growth. Moreover, the World Health Organization (WHO) launched several cancer prevention programs across different nations, such as India, Korea, and Ireland, to lower the number of cancer cases. These programs intend to improve quality of life for cancer patients by implementing evidence-based strategies for prevention, early diagnosis, treatment, and palliation. Thus, development new strategies by key players propels the growth of the market.
The factors that drive the growth of the Optical Fibers in Endoscopy Market Size include rise in applicability of optical fibers in the medical sector such as hospitals and clinics, in terms of both patients and investing firms. Moreover, rise in geriatric population and increase in usage to reduce complications & risks related with diseases such as cancer further drive the optical fibers in endoscopy market growth. Conversely, in Optical Fibers in Endoscopy Market Analysis, large-scale production of optical fibers in endoscopy and high growth potential in untapped emerging economies are expected to open new avenues for the expansion of the global Optical Fibers in Endoscopy Market Growth during the forecast period.
Surge in patient population suffering from colorectal cancer & gastrointestinal disorder and technological advancements leading to production of effective optical fibers in endoscopy devices notably contribute toward the market growth in Optical Fibers in Endoscopy Market Forecast. For instance, in August 2019, according to World Ageing 2019 report, there were around 703 million people aged 65 years or more in the world. Therefore, increase in the number of older population escalates the risk of chronic diseases, which increase the usage of optical fibers, thus boosting the market growth. Moreover, the World Health Organization (WHO) launched several cancer prevention programs across different nations, such as India, Korea, and Ireland, to lower the number of cancer cases. These programs intend to improve quality of life for cancer patients by implementing evidence-based strategies for prevention, early diagnosis, treatment, and palliation. Thus, development new strategies by key players propels the growth of the market.
Surge in innovations in healthcare product offerings and increase in cases of chronic diseases further generate lucrative growth opportunities for the market.
The optical fibers in endoscopy market is segmented into material, type, and region. On the basis of by material, the market is categorized into glass optical fibers in endoscopy and plastic optical fibers in endoscopy. By type, it is fragmented into rigid endoscopy and flexible endoscopy.
The glass optic fibers (GOF) in endoscopy segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of product approvals, advancements in R&D activities in pharmaceutical & medical device industries, and surge in adoption of optical fibers in endoscopy products.
North America accounted for a majority of the global optical fibers in endoscopy industry share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in production of optical fibers in endoscopy, increase in number of approvals for endoscopy products, rise in presence of key players, and surge in development of technology for healthcare in the region. Asia-Pacific is anticipated to witness lucrative growth of optical fibers in endoscopy industry, owing to increase in number of colorectal cancer cases, rise in demand for endoscopy procedures, and surge in healthcare expenditures.
Key Findings of the Study
By material, the glass optic fibers (GOF) in endoscopy segment was the highest contributor to the market in 2020.By type, the flexible endoscopy segment was the highest contributor to the market in 2020.
Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- COGENTIX MEDICAL
- KARL STORZ GMBH & CO. KG
- HAPPERSBERGER OTOPRONT GMBH
- STRAUSS SURGICAL
- PENTAX MEDICAL (HOYA CORPORATION)
- FUJIFILM Holdings Corporation
- Boston Scientific Corporation
- VIMEX SP. Z O.O (VIMEX ENDOSCOPY)
- XION GMBH
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | August 2023 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 869.02 million |
| Forecasted Market Value ( USD | $ 1471.24 million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
