U.S. Medical Fiber Optics Market Size & Outlook, 2022-2030
U.S. medical fiber optics market, 2016-2030 (US$M)
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U.S. medical fiber optics market highlights
- The U.S. medical fiber optics market generated a revenue of USD 975.7 million in 2022 and is expected to reach USD 1,285.4 million by 2030.
- The U.S. market is expected to grow at a CAGR of 3.5% 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.
Medical fiber optics market data book summary
| Market revenue in 2022 | USD 975.7 million |
| Market revenue in 2030 | USD 1,285.4 million |
| Growth rate | 3.5% (CAGR from 2022 to 2030) |
| Largest segment | Multimode optical fiber |
| Fastest growing segment | Plastic Optical Fiber (POF) |
| Historical data | 2016 - 2021 |
| Base year | 2022 |
| Forecast period | 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, U.S. accounted for 21.2% of the global medical fiber optics market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. medical fiber optics market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 446.6 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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U.S. 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 U.S. 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.
The U.S. dominated the North America medical fiber optics market in 2019 with a 78.1% market share and is anticipated to grow at a lucrative rate over the forecast period. Key factors driving the country’s market include growing preference for minimally invasive surgeries over traditional surgeries.
The country has high incidence of diseases, such as kidney stones, cancer, cardiovascular diseases, and arthritis, which is leading to an increase in the preference for minimally invasive surgeries owing to benefits such as lesser pain during procedure, faster recovery, & lower risk of infection.
Thus, the demand for endoscopes and laser systems is very high in the U.S. Optical fibers are major components in these devices. Hence, as the adoption of these devices is increasing in the country, the demand for medical fiber optics is also growing.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. medical fiber optics market , including forecasts for subscribers. This country databook contains high-level insights into U.S. medical fiber optics market from 2016 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. medical fiber optics market size, by type, 2016-2030 (US$M)
U.S. Medical Fiber Optics Market Outlook Share, 2022 & 2030 (US$M)
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