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2022
Optical Fibers In Endoscopy Market

Optical Fibers in Endoscopy Market

by Material (Glass optic fibers (GOF) in endoscopy, Plastic optic fibers (POF) in endoscopy), by Type (Rigid endoscopy, Flexible endoscopy): Global Opportunity Analysis and Industry Forecast, 2020-2030

✷  Report Code: A04111
Pages: 210
Apr 2022 | 9068 Views
Author(s) : Swapna S , Onkar S
Tables: 117
Charts: 53
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Optical Fibers In Endoscopy Market Research, 2030

The global optical fibers in endoscopy market was valued at $869.02 million in 2020, and is projected to reach $1.5 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.

Endoscopy is a medical procedure to obtain high-resolution microscopic images of internal organs of the body. Endoscopes are made up of dense bundles of optical fibers, which are made up of glass or plastic. They ensure efficient light transmission during endoscopic procedures. These fibers transmit light into the patient’s body and enable physician to view images of internal body structures for early detection of diseases. These fibers are used in various applications which includes internet, cable television, computer networking, automotive industry, and medicine and research. An endoscope consists of 2-3 optical cables, of which one carries light into the patient's body while the other carries reflected light (image of patient’s body) back up to the physician's eyepiece, which is then displayed on TV monitor. Optical fibers are long, thin strands that are used to transmit light signals over long distances. The fiber is made up of two concentric cylindrical cores. The inner core is surrounded by a concentric core where total internal reflection takes place and is known as cladding (protective sheath). The material used for currently commercialized fibers (core and cladding) include pure glass (SiO2), plastic, or a combination of both. Choosing the kind of material for optical fiber depends on a variety of factors such as quality and economics.

The overall impact of COVID-19 remains negative on the optical fibers in endoscopy market, owing to decline in number of operations performed in hospitals & clinics as doctors are the frontline warriors in the battle against the COVID-19, which led to decline in demand of endoscopy equipment.

Optical Fibers in Endoscopy Market, Optical Fibers in Endoscopy Market Size, Optical Fibers in Endoscopy Market Share, Optical Fibers in Endoscopy Market Analysis, Optical Fibers in Endoscopy Market Opportunity, Optical Fibers in Endoscopy Market Trends, Optical Fibers in Endoscopy Market Forecast

Growth of the global optical fibers in endoscopy market is majorly driven by rise in number of aged individuals who are at high risk of developing chronic disorders such as cancer and neurological and gastrointestinal diseases. In addition, according to the International Agency for Research on Cancer (IARC), the updated Globocan data of 2020, an estimate of around 19.3 million cases of cancer were recorded. Thus, rise in number of cancer patients increase the demand for optical fibers in endoscopy which is anticipated to foster the growth of the optical fibers in endoscopy market. Moreover, technological advancements of new products, patient emphasis for early detection of diseases, rise in global prevalence of targeted diseases propel the market growth.  Furthermore, the use of optical fibers offers improved image resolution as well as the ability to visualize difficult to reach areas.  According to the European Journal of Cancer, in 2020, there were about 520,000 cases of colorectal cancer in Europe. Thus, rising burden of cancer cases is anticipated to boost the growth of the market. Furthermore, increase in number of product approvals is expected to provide remunerative opportunities for the expansion of the global optical fibers in endoscopy market during the forecast period.

The COVID-19 outbreak is anticipated to have a positive impact to fuel the growth of the global optical fibers in endoscopy market. According to the National Library of Medicine, a survey conducted by an endoscopists covers all the aspects of daily performance in gastrointestinal endoscopy units. Around 67.35% of endoscopy procedures were performed. Thus, rise in number of gastrointestinal endoscopy procedures has increased the usage of optical fibers in endoscopy, which is anticipated to drive the optical fibers in endoscopy market growth during the forecast period. However, the market is restrained by high cost of the procedure.

The global optical fibers in endoscopy market size is segmented into material, type, and region. Depending on material, the market is divided into glass optical fibers in endoscopy and plastic optical fibers in endoscopy.

By type, the market is classified into rigid endoscopy and flexible endoscopy.

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Segment Review

Optical Fibers in Endoscopy Market
By Material

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Glass optic fibers (GOF) in endoscopy segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period

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Depending on material, the glass optical fibers in endoscopy market share segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in R&D activities in the pharmaceutical & medical device industry, rise in demand for optical fibers in endoscopy, and surge in adoption of endoscopy devices by large number of key players.Glass optical fiber is an optical fiber made of glass. As it is a delicate type of optical fiber, it cannot be cut, or repaired, has less resistance to flexibility and is prone to accidental breakage. Glass fiber optic cables are extremely versatile and robust and available in a mix of configurations, end fittings and adapter types. However, this kind of optical fiber is generally ideal for hostile environments. Even when exposed to mechanical stress, high temperatures, or chemical substances, it performs normal operation. However, the plastic optical fibers in endoscopy segment is expected to witness considerable growth of optical fibers in endoscopy market opportunity during the forecast period, owing to increase in number of colorectal cancer and rise in number of key players for development of optical fibers in endoscopy devices in the medical device industry.

Optical Fibers in Endoscopy Market
By Type

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Flexible endoscopy segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period

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By type, the rigid endoscopy segment was the major contributor in 2020, and optical fibers in endoscopy market forecast is expected to maintain its lead during the forecast period, owing to increase in number of cancer cases, rise in number of gastrointestinal endoscopy procedures, and increase in demand for endoscopy for the detection of diseases. However, the flexible endoscopy is expected to witness considerable growth during the forecast period, due to increase in number of geriatric population, rise in development of healthcare infrastructure.

Optical Fibers in Endoscopy Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

North America was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period

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North America garnered the major share in the optical fibers in endoscopy industry in 2020, and is expected to continue to dominate during the forecast period, owing to rise in number of neurological disorders, presence of key players, development of the healthcare sector, and presence of new innovative optical fibers in endoscopy products in the region. However, Asia-Pacific is expected to register the highest, owing to increase in use to detect the efficacy of treatment and development of healthcare infrastructure.

The key players that operate in the global optical fibers in endoscopy industry include 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.

Optical Fibers in Endoscopy Market Report Highlights

Aspects Details
By Material
  • Glass optic fibers (GOF) in endoscopy
  • Plastic optic fibers (POF) in endoscopy
By Type
  • Rigid endoscopy
  • Flexible 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 BOSTON SCIENTIFIC CORPORATION, COGENTIX MEDICAL, FUJIFILM HOLDINGS CORPORATION, HAPPERSBERGER OTOPRONT GMBH, KARL STORZ GMBH & CO. KG, OLYMPUS CORPORATION, STRAUSS SURGICAL, VIMEX SP. Z O.O (VIMEX ENDOSCOPY), XION GMBH, PENTAX MEDICAL (HOYA CORPORATION)
 

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According to the insights of CXOs, increase in number of colorectal cancer & neurological disorders and advancements in new device launches are expected to propel growth of the optical fibers in endoscopy market.

CXOs further added that improvement in consumer awareness, increase in demand for preventive healthcare services, rise in demand for healthcare services from overall population, and new advancements are predicted to broaden optical fibers in endoscopy clinical applications and increase the number of product approvals. Furthermore, emergency use of endoscopy devices to diagnose disease contributes toward growth of the market.

The market gains interest of healthcare companies, owing to focus on preventive facilities provided to patients who are undergoing critical pulmonary surgeries, which are more complex than other health conditions. This leads to increase in utilization of optical fibers in endoscopy, thus driving the growth of the market.

North America is expected to witness highest growth, in terms of revenue, owing to rise in geriatric population, presence of key players, and advancements in healthcare investments. Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register fastest CAGR during the forecast period, owing to increase in number of older population and unmet needs from advanced optical fibers in endoscopy devices. However, high cost associated with endoscopy procedures restrain the market growth during the forecast period.

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FREQUENTLY ASKED QUESTIONS?

A. The upcoming trends of Optical Fibers in Endoscopy Market in the world includes 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 market.

A. The leading application of Optical Fibers in Endoscopy is to diagnose disease and it is use in medical sector such as hospitals and clinics.

A. North America accounted for a majority of the global optical fibers in endoscopy market share in 2020.

A. Optical Fibers in Endoscopy is estimated to reach $1471.24 million by 2030, growing at a CAGR of 5.4% from 2021 to 2030.

A. The top companies to hold the market share in Optical Fibers in Endoscopy includes 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.

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