Medical Fiber Optics Market to Reach $1.34B
NEW YORK, Oct. 31, 2016 — The global medical fiber optics market is expected to reach $1.34 billion in 2019, according to a market report by Persistence Market Research PVT Ltd.
The industry is expected to grow at a compound annual growth rate of 7.6 percent from 2013’s figure of $863.1 million. Asia is expected to see the highest growth, with innovative applications of medical fiber optic technology driving the market.
The medical fiber optics market is witnessing significant growth due to increased applications of fiber optics for minimally invasive surgeries, increased demand for advanced diagnostic technologies and rapid development in medical fiber optics technology. There has been a substantial rise in the number of medical fiber optic applications including X-ray imaging, ophthalmic lasers, light therapy, lab and clinical diagnostics, dental head pieces, surgical and diagnostic instrumentation, surgical microscopy and endoscopy. In addition, miniaturization of medical devices has also increased the demand for medical fiber optics technology.
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