The “Medical Fiberscope Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The medical fiberscope market is evaluated at US$509.811 million for the year 2019 and is projected to grow at a CAGR of 3.70% to reach US$657.293 million in 2026.
High flexibility and the ability to examine difficult-to-reach areas of the body is the main factor anticipated to boost the growth of the medical fiberscope device market. The rising adaption of minimally invasive surgery and reduced healing time are some other major factors projected to drive market growth in the coming years. The rapid increase in the prevalence of diseases requiring endoscopic evaluation and treatment is also anticipated to propel the market growth during the forecast period.
Furthermore, the new technological developments such as the launch of HD fiberscope which enables remarkable image quality during the medical procedure are expected to boost the medical fiberscope market growth during the assessment period.
The recent outbreak of the novel coronavirus disease harmed the medical fiberscope market. The pandemic shifted the major focus of the healthcare system towards COVID-19 and as part of the COVID-19 restrictions, a large number of surgeries had to be canceled in many parts of the world, which led to a decline in the medical fiberscope device market in 2020. However, as the restrictions are being eased in most parts of the world, the market is anticipated to recover and continue at its normal pace from the year 2022 onwards.
Innovations in fiberscope technology.
Various research and developments are being conducted for advancements in the fiberscope technology in the medical field, which is leading to the development of innovations, which is expected to further expand the use of fiberscope in the medical field and is anticipated to propel the growth of medical fiberscope device market during the forecast period. Minimally invasive vascular procedures are usually guided by X-rays which emit considerable amounts of radiation.
The recently launched Fiber Optic RealShape (FORS), described by the presenters at the 2020 International Symposium on Endovascular Therapy (ISET), allows the procedure to be done without the use of X-rays and hence reduces radiation. Also, it reduces the time under anesthesia for the patient. UMass Memorial Health stated in May 2021 that it expects this new technology to become the standard for complex minimally invasive endovascular aortic treatment.
Owing to such innovations, the demand for fiberscope is expected to surge during minimally invasive procedures which are anticipated to propel the market growth during the forecast period. In April 2021, scientists at the University of Nottingham developed the first fiber-optic ultrasonic imaging system in the world which will be used to see the issues related to cells in the human body.
This innovation was funded by EPSRC and is aimed at providing better diagnoses of the diseases where the cells that are to be examined are at the hard-to-reach parts of the body like the gastrointestinal tract. It creates microscopic and nanoscopic resolution images which will help in studying and analyzing the cells.
The fluorescent labels which are traditionally used to study cell biology under a microscope are deteriorating to the human cells but with the use of this innovation, their usage gets reduced, which is another advantage provided by this new advancement.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Medical Fiberscope Market Analysis, by Application
5.4. Vascular Fibroscopy
6. Medical Fiberscope Market Analysis, by End-User
6.3. Ambulatory Centers
6.4. Research Institutes
7. Medical Fiberscope Market Analysis, by Geography
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
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