Cancer is considered one of the deadliest diseases in the world mainly caused by impairments due to malfunctioning of cells in the human body. An early detection of cancer cells will lead to a reduced death rate in the long run. Conventional methods for the detection of cancer cells such as mammography, Magnetic Resonance Imaging (MRI), ultrasound, Computerized Tomography (CT), and biopsy have limitations in terms of cost, real-time fast processing, safety, and size. Both governments and companies are working hard during the last few decades in the development of biosensors for continuous checking of biological parameters which can reduce extra costs to the patients as well as to the administration. This has been made possible with the advancement made using optical fiber technology, which have lately amalgamated to the development of bio-sensors. This paper reviews the various types of OFS and their recent applications in healthcare in order to help doctors/clinical technocrats to understand OFS technology in better manner with an overview about the challenges involved in designing of OFS technology in healthcare. OFS yet needs to fulfil their great potential in healthcare and methods of increasing the adoption of medical devices based on optical fibers are discussed. These factors are important for successful translation of the developed sensors in the device development process in healthcare.