This agreement focuses on the commercial manufacturing capabilities of Fujikura and to use the imaging technology of MIS.

Micro Imaging Solutions CEO Jeffrey Adair said, "Partnering with Fujikura further validates the already well established MIS CMOS imaging technology platform, while providing us with industry-leading medical device expertise and experience essential to maximizing this technology’s commercial market potential in a $6 billion a year industry."

MIS possess over 30 issued patents world over that are associated with micro-format CMOS sensor technology and other advanced technologies by supplying low-cost, disposable and high-resolution endoscopes.

The value of the endoscopy market world-wide is said to be $6.2bn in 2011, and is gradually developing at a compound annual growth rate (CAGR) of about 9.77% and thus it is expected to be approximately $10.9bn by 2017.

The MIS license agreement is planned to expand into multiple additional medical fields on condition that both the companies finds an opportunity to develop the surgeon’s capabilities in enhancing the patient outcomes through the use of endoscopy visualization.

Fujikura will commence its shipping of 1.2 millimeter diameter CMOS module in 2013 with the establishment of the MIS patent license.

Fujikura applied optics business unit associate executive officer Tsumanuma said, "Fujikura is extremely excited about the broad applicability of this technology and the expert imaging development capabilities of the MIS engineering team."