North America Medical Fiber Optics Market Size & Outlook
North America medical fiber optics market, 2016-2030 (US$M)
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North America medical fiber optics market highlights
- The North America medical fiber optics market generated a revenue of USD 1,269.5 million in 2022.
- The market is expected to grow at a CAGR of 4% from 2023 to 2030.
- In terms of segment, multimode optical fiber was the largest revenue generating type in 2022.
- Plastic Optical Fiber (POF) is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 1,269.5 million |
| Market revenue in 2030 | USD 1,732.0 million |
| Growth rate | 4% (CAGR from 2022 to 2030) |
| Largest segment | Multimode optical fiber |
| Fastest growing segment | Plastic Optical Fiber (POF) |
| Historical data covered | 2016 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Single Mode Optical Fiber, Multimode Optical Fiber, Plastic Optical Fiber (POF), Fiber Bundles |
| Key market players worldwide | Integra Lifesciences Holdings Corp, Coherent Corp, Leoni AG ADR, MKS Instruments Inc, Schott Pharma AG & CO KGaA, Hirose Electric Co Ltd, Georg Fischer AG, Smiths Group PLC, Molex |
Other key industry trends
- In terms of revenue, North America region accounted for 27.6% of the global medical fiber optics market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 474.2 million by 2030.
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Medical Fiber Optics Market Scope
Medical Fiber Optics Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America medical fiber optics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical fiber optics market will help companies and investors design strategic landscapes.
Multimode optical fiber was the largest segment with a revenue share of 44.1% in 2022. Horizon Databook has segmented the North America medical fiber optics market based on single mode optical fiber, multimode optical fiber, plastic optical fiber (pof), fiber bundles covering the revenue growth of each sub-segment from 2016 to 2030.
North America dominated the global medical fiber optics market in 2019, with a revenue of USD 246.7 million, and is expected to grow at a lucrative rate over the forecast period. Some of the key factors responsible for its large market share include high adoption of technologically advanced products such as endoscopes and lasers for performing minimally invasive surgeries, favorable reimbursement policies, and low out-of-pocket expenditure.
High incidence of cancer and increasing need for early cancer detection are anticipated to further drive the market for medical fiber optics over the forecast period. Local presence of several key players, such as Integra Life Sciences Holdings Corporation, Fiber optics Technology Incorporated (FTI), AFL, and Molex Incorporated, is expected to contribute to market growth.
Moreover, the U.S. market is currently saturated, whereas the demand for medical fiber optics is anticipated to increase at the fastest rate in Canada over the forecast period. Hence, North America medical fiber optics market is anticipated to grow at a lucrative rate over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America medical fiber optics market , including forecasts for subscribers. This continent databook contains high-level insights into North America medical fiber optics market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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North America medical fiber optics market size, by country, 2016-2030 (US$M)
North America Medical Fiber Optics Market Outlook Share, 2022 & 2030 (US$M)
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