The global medical laser fibers market is expected to reach US$ 1,438.65 Mn in 2027 from US$ 565.61 in 2018.
The prominent players in the medical laser fibers market focus on various growth strategies to enroot their presence and garner significant market share across the globe. Some of the notable players in the global medical laser fibers market include Clarion Medical Technologies, Lumenis, biolitec AG, BD, Boston Scientific Corporation, Olympus Corporation, Cook, KARL STORZ SE & Co. KG, Richard Wolf GmbH, and IPG Photonics Corporation. Away from mainstream and conventional products, the research-based devices are likely to make a significant improvement in terms of performance, ease of use, and other benefits. For instance, in 2015, the launch of 200 Series Laser Fiber by Olympus Medical has led to its massive adoption all across the globe due to the ability of these laser fibers that compliments the full offering of lasers by the company.
The launch of innovative treatment solution is not only a revenue generation parameter among the major players but also one of the robust growth inducer for new entrants in the market. The Medical Laser Fibers Market is inclusive and adaptive towards the high-quality products offering considerate opportunities even to the newbies as well as existing players in the parallel markets. For instance, in Typenex Medical, a medical devices and supplies manufacturer, in January 2018 introduced Fibernex. It is a line of reusable and single-use holmium laser fibers that are compatible with holmium and Nd:YAG laser systems. The company entered into a parallel market to its existing portfolio with the launch of these laser fibers.
Apart from the developments for the medical laser fibers market, the key market players are entering strategic partnerships and acquisitions and working towards developments of innovative laser fibers for medical use to cater the demands for the patients. For instance, one of the milestone acquisition of C.R. Bard by BD in December 2017 has led the company to hold one of the dominant shares in the medical laser fibers market through the revenue generated by PROFLEX Laser Fibers portfolio by C.R. Bard. Similar small and large level partnerships and acquisition are expected to generate turbulence and act as growth boosters in the global medical laser fibers market.