openPR Logo
Press release

North America will continue to be the Most Lucrative Market for Medical Fiber Optics Over 2024

08-28-2018 09:17 AM CET | Health & Medicine

Press release from: Persistence Market Research

North America will continue to be the Most Lucrative Market

Growing application of fiber optic products across various medical domains is one of the key factors expected to drive the global medical fiber optic market during 2016 to 2024. According to the latest findings by Persistence Market Research (PMR), the market is set to witness a CAGR of over 6% to reach US$ 1,544.7 Million by 2024.

Increasing occurrence of gastrointestinal diseases is playing a major role in pushing forward the overall market growth. In addition, incessant development in sensor-based component technology is expected to influence the demand for fiber optic in the near future. In 2015, the medical fiber optic market stood at US$ 916.7 Million in revenues.

The global medical fiber optics market has been categorised into fiber type, application, by usage and end user.

Based on fiber type, demand for polymer optical is expected to gain traction during the forecast period. The polymer optical segment is projected to surpass market valuation of US$ 577 Million by 2024 riding on a robust CAGR of over 6%. Whereas, the pure silica segment which had a market valuation of over US$ 429 Million in 2015 is anticipated to grow at a moderate pace during the assessment period.

Request Sample Report@ https://www.persistencemarketresearch.com/samples/2997

By application, the fiber scanning is expected to be the predominant segment, reflecting a 7.l% CAGR growth during the forecast period. In 2015, the segment accounted for over 15% share of the overall market standing at US$ 140.3 Million in terms of value. The image transmission is expected to emerge as the second largest segment and is estimated to cross US$ 270 Million by 2024.

By usage, reusable materials and components will account for a relatively higher valuation of the market as compared to disposable usage type. In addition, the reusable segment represented a market value of US$ 270.9 Million in 2015.

On the basis of end user, the diagnostic laboratories segment to witness a robust growth and will have a significant contribution in driving the overall market growth. The segment is projected to reach a market valuation of US$ 171.9 Million, expanding at a CAGR of 7.1% by the end of 2024.

PMR’s findings based on regional market suggest that North America will continue to be the largest market for medical fiber optics during the assessment period. The market in the region was valued at over US$ 336 Million in 2015. In addition, the region is set to increase at over 5% CAGR to reach US$ 534.8 Million. The medical fiber optics market in Asia Pacific is expected to witness the highest growth rate. The region is projected to stand at US$ 312 Million, reflecting a CAGR of 7.5% between 2016 and 2024.

Request TOC@ https://www.persistencemarketresearch.com/methodology/2997

Competitive Dashboard

Major stakeholder playing a significant part in the global medical fiber optics market include Sunoptic Technologies LLC, Leoni AG, Integra LifeSciences Holdings Corporation, Newport Corporation, Fiberoptics Technology, Inc., Coherent, Inc., Gulf Fiberoptics, Inc., Timbercon, Inc., Schott AG, and Molex Incorporated. Most of the companies are actively focusing on further product innovation and improving product offerings to cater to the growing requirements of consumers.

ABOUT US:
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

CONTACT:
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release North America will continue to be the Most Lucrative Market for Medical Fiber Optics Over 2024 here

News-ID: 1205175 • Views:

More Releases from Persistence Market Research

Frozen Foods Market Heats Up with Innovation and Growing Consumer Demand
Frozen Foods Market Heats Up with Innovation and Growing Consumer Demand
Market Overview: The frozen foods market consists of a wide range of products, including frozen fruits and vegetables, meat and seafood, ready-to-eat meals, and desserts. These products are preserved through freezing to maintain freshness and quality for an extended period. Market Size and Growth: The global market for frozen foods is forecasted to be of valuation US$ 281.0 Billion in the year 2022 which is expanding at a value CAGR of 5.1% and
The Global Graphene Market's Striking Growth and Innovative Applications
The Global Graphene Market's Striking Growth and Innovative Applications
Introduction Graphene, a single layer of carbon atoms arranged in a hexagonal lattice, has gained global recognition for its extraordinary properties, such as exceptional electrical and thermal conductivity, mechanical strength, and flexibility. Since its isolation in 2004 by Andre Geim and Konstantin Novoselov, graphene has sparked considerable interest in both scientific and industrial communities. This report explores the current state of the graphene market and its potential growth opportunities. Get Access To
Business Opportunities in Cyber Security Mesh Market : Top Countries Data Analysis, Emerging Trends with Upcoming Developments
Business Opportunities in Cyber Security Mesh Market : Top Countries Data Analys …
Market Overview: The projected global market size for cyber security mesh is expected to reach $8.8 billion by the year 2033, with an estimated valuation of $1.2 billion by 2023. This market is poised to experience a compound annual growth rate (CAGR) of 21.7% from 2023 to 2033. The global Cyber Security Mesh market is poised for significant growth as organizations worldwide grapple with the escalating threat landscape. Cybersecurity has become an
Synthetic Beta-Carotene Market To Boost Incredible Growth: 2033, Share Valuation and Industry Size
Synthetic Beta-Carotene Market To Boost Incredible Growth: 2033, Share Valuation …
Key market trends included a shift towards natural and plant-based ingredients, as consumers sought cleaner labels and healthier options. This drove the demand for naturally sourced beta-carotene, but synthetic beta-carotene still had its place due to its cost-effectiveness and consistency in production. The market was also influenced by regulatory changes and evolving dietary preferences, which affected the application and formulation of synthetic beta-carotene in various products. To obtain the latest market

All 5 Releases


More Releases for CAGR

Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn. Predictive analytics is segmented into: Risk management:
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population. ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and