Europe Medical Fiber Optics Market

Europe Medical Fibre Optics Market Size & Growth (2023 to 2028):

As per the research report, the size of the Europe Medical Fiber Optics Market was valued at USD 305.55 Million in 2023 and estimated to be growing at a CAGR of 4.89%, to reach USD 387.93 Million by 2028 during the forecast period 2023 to 2028.

One of the significant factors increasing the growth rate of the European medical fiber optics market is their applications in diagnostics and therapeutics. The increase greatly influences fiber optics in the number of endoscopies, growing awareness of minimally invasive surgeries such as robotic surgeries and laparoscopic surgeries, and growing demand for the use of technologically developed products in the European region. Various applications in the medical sectors can be seen in gynecology, ophthalmic, gastroenterology, dentistry, cosmetology, etc. The growing awareness about lasers and their benefits is also affecting the market positively.

Amongst the various applications of laser optic fibers, they are used for surgeries such enucleation of benign prostate, kidney stone removal, curettage of ulcers, laser ablation of tumorous tissue from organs, endoluminal sclerosis for scars, and dilated vein in body extremities. Recently, there has been a considerable market for the use of lasers due to technological development where fiber optics can be used at a low power range; these devices are used in dental surgeries such as gingival dehyperpigmentation, bone remodeling, atraumatic flap procedures, and crown lengthening, etc. Furthermore, there has been a lot of study and development in optic fiber and lasers in recent years, which has resulted in their being quite popular in small and large hospitals and clinics. All the factors above are estimated to increase the growth of the European medical fiber optics market in the projected period.

Although medical fiber optics may be a breakthrough evolution in medical technology, these products are fragile and need to be handled delicately. Hence, these are not opted for by everyone. In addition, various Laser optics components require customization and constant maintenance depending on their usage, which increases their overall cost. Laser equipment is pricey and needs skilled hands for their proper functions and maintenance; these factors will harm the market. Lasers and fiber optics are also not commonly found in underdeveloped economies, which can hamper the market's growth rate in the years to come.

This research report on the Europe Medical Fiber Optics Market has been segmented and sub-segmented into the following categories:

By Fiber Type:

• Pure Silica Fiber
• Polycrystalline Fiber
• Polymer Optical

By Application:

• Image Transmission
• Illumination
• Laser Signal Delivery
• Fiber Optic Confocal Screening
• Laser Soldering

By Usage:

• Reusable
• Disposable

By End User:

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Diagnostic Labs

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, the market in Germany medical fiber optics market will witness a market growth of 6.1% CAGR during the forecast period (2022 - 2027). Therefore, this regional market will continue to dominate during the forecasted period. According to the Centers for Disease Control and Prevention, in 2019, there were approximately 14.5 million people in the region diagnosed with ulcers. High demand for clinicians to perform minimally invasive surgeries, favorable reimbursement policies, and well-developed healthcare infrastructure will positively impact the market in Germany.

In 2022, France medical fiber optics market had the second largest market share in the European medical fiber optics market. This region is expected to continue having a reasonable market growth rate due to the high prevalence of chronic diseases and increased research and development. As a result, this market had a market share of 22% and is anticipated to have a growth rate during the analyzed period. Moreover, high cancer incidences and the development of biomedical instruments will further drive the market.

Within Europe, the UK medical fiber optics market is forecasted to grow at the highest CAGR. As a result, the U.K market will reach a value of US$94 million for the analysis period. This market growth is due to advanced medical infrastructure, demand for minimally invasive surgeries, and increased healthcare expenditure. In addition, the region also benefits from local government initiatives to raise healthcare awareness and the large population to boost the European medical fiber optics market.

While the rest of Europe is estimated to gather good revenue owing to the interest and presence of major medical organizations and companies in the areas, countries such as Sweden and Norway are focused on developing better products during the forecast period.

KEY MARKET PLAYERS

Key players operating in the Europe Medical Fiber optics Market profiled in this report are Schott, Leoni AG, Rofin, IPG Photonics, and Timbercon Inc.