Medical Fiber Optics Market to Reach $722 Million by 2010, Driven by Expanding Applications, According to New Report by Global Industry Analysts, Inc.
World medical fiber optics market continues to progress at a healthy pace and is on course to reach US$722 million by 2010. United States is the largest market for medical fiber optics, followed by Europe. Within Europe, Germany represents the largest market, accounting for 23% in 2006. Other major European markets include France and the UK. Asia Pacific represents the fastest growing market for medical fiber optics, projected to register a CAGR of 6% over the next five years.
San Jose, California (PRWEB) July 9, 2007 -- A new report on medical fiber optics has been released by Global Industry Analysts, Inc. "Medical Fiber Optics: A Global Strategic Business Report" provides comprehensive analyses and coverage of the US, Canadian, Japanese, European, Asia-Pacific, and Latin American markets. The report provides incisive insights into key trends, issues, technological developments, business opportunities, and challenges in the medical fiber optics market.
Fiber optics has made immense advancement over the past few years. Although, the basic technology remains the same, present day glass fibers are much more tensile, cost efficient and effective. The ongoing progress in the field of medical fiber optics has led to the development of inexpensive lasers for PDT, fiber miniaturization, and complex data paths. The need for minimally invasive, small and efficient optical fibers is fast gaining importance with the growing need for minimally invasive surgery and diagnostics. Endoscopes market represents the largest segment in the world medical fiber optics market, projected to cross US$290 million by 2010.
Laser fiber optics market represents the fastest, with a projected CAGR of 7.13% over 2000-2010. Fiber optic sensors market represents the second fastest, with a projected CAGR of 6.6%.
Fiber optics work on the principle of total internal reflection, in which light is enclosed in an element encased by glass in air of low refractive index. The fibers are primarily, long, transparent glass or plastic stretchable rods covered by a transparent material of low refractive index. Fiber optics are primarily used for site illumination in a majority of medical applications. They can be used as standalone light sources (as in surgical lights, dental lights) or as integrated components in endoscopes. Fiber optics are also used as laser delivery devices for laser surgery in urology, cardiology, and ophthalmology applications. Other areas of fiber optic applications in the medical field include image transfer, medical X-ray, and sensors. Of late, fiber optic sensors have gained prominence in the medical field owing to their accuracy, small size, and safety.
Innovative and new areas of medicine, in which fiber optics can be used, have created abundant opportunities for medical OEMs. In response to new demand, suppliers are expanding their capacities. Manufacturers are focusing on fibers that have more performance features and control than the previous ones. Suppliers have introduced new processes and methods in their attempt to deliver the required performance. Currently, fibers are coated with fluorescent dyes, to enable them to transmit weak signals and signals that have to go through curved paths in sophisticated instruments. Lasers have also become more precise than their previous versions and cost much less than before. Sometimes, improvements in the component manufacturing market are a result of advances in medical fiber optic devices as a whole.
Leading players in the worldwide medical fiber optics market include, Applied Fiberoptics, Biolitec AG, CardioGenesis Corporation, Coherent, Getinge AB, MAQUET SA, Laserscope, Steris Corp., The Spectranetics Corporation, and Trimedyne, Inc., among others.
For more details about this research report, please visit http://www.strategyr.com/MCP-3332.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site www.StrategyR.com
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