The market for laser technology will increase dramatically; Growth

Pune, India, December 14, 2021 (GLOBE NEWSWIRE) – The world laser technology market The size is expected to reach USD 15.99 billion by 2027, with a CAGR of 4.5% during the forecast period. The increasing integration of laser technologies into semiconductor optoelectronic devices such as LDs and LEDs and the ultrashort pulse laser will have a huge impact on the market, says Fortune Business Insights, in a report titled “Laser Technology Market Size, Share and COVID-19 Impact Analysis, By Laser Type (Semiconductor Laser, Liquid Laser, Gas Laser, and Others), by Application (Optical Communication, Laser Processing, and Others) , by industry (IT and telecommunications), electronics and semiconductor, healthcare, manufacturing, automotive, aerospace and defense, and others) and regional forecast, 2020-2027. The market size was $ 11.30 billion in 2019.

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The report lists key companies in the Laser Technology Market:

  • Lumenis Ltd. (Tsafon, Israel)
  • Lumentum Holdings Inc. (California, United States)
  • Jenoptik AG (Jena, Germany)
  • Novanta Inc. (Massachusetts, United States)
  • Lumibird (Lannion, France)
  • Laser Star Technologies Corporation (Florida, United States)
  • Epilog Corporation (Colorado, United States)
  • Han’s Laser Technology Industry Group Co., Ltd. (Guangdong, China)
  • MKS Instruments, Inc. (Massachusetts, United States)
  • Gravotech Engineering Pvt Ltd (Maharashtra, India)
  • The 600 Group PLC (Heckmondwike, England)
  • eurolaser GmbH (Lüneburg, Germany)
  • Laser Bystronic (Niederonz, Switzerland)
  • Toptica Photonics (Bayern, Germany)
  • Photonics Industries Inc. (New York, United States)
  • Solaris Laser SA (Warszawa, Poland)
  • Optotek doo (Ljubljana, Slovenia)

Scope and segmentation of the report –

Cover of the report Details
Forecast period 2020-2027
Forecast period 2020 to 2027 CAGR 4.5%
2027 value projection $ 15.99 billion
Year of reference 2019
Market size in 2019 $ 11.30 billion
Historical data for 2016-2018
Number of pages 160
Covered segments Type; Application; Industry; Regional
Growth drivers Growing adoption of laser technology in medical industry to drive market growth

Pitfalls and challenges

High initial cost to inhibit market growth

The outbreak of the coronavirus has put massive economic pressure on industries in various countries. We understand that this health emergency has had a negative impact on various sectors around the world. Growing support from governments and several companies can help fight this highly infectious virus. Some industries are struggling and others are thriving. It is estimated that almost all sectors are affected by this pandemic.

We are continuously working on our reports to help uplift businesses at this critical time. Our expertise and experience can offer tremendous benefits in helping to win back this global pandemic.

Click here to learn about the short and long term impact of COVID-19 on this market.

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The report on the laser technology market strong points:

  • Excellent market knowledge
  • Systematic data with detailed analysis
  • Market dynamics and aspects demonstrating development
  • Meticulous information on key market players
  • Statistics obtained on the dominant regions

Market engine:

Request Cosmetic procedures to increase growth

The growing acceptance of laser technology in the medical industry is expected to drive the growth of the market. Medical laser therapy is an intensive, non-invasive procedure to treat tissue and provides rapid healing without discoloration or scarring. It finds applications in dermatology, urology, ophthalmology, dentistry and others. The increasing demand for medical lasers and non-invasive therapies in the treatment of many diseases will subsequently drive the growth of the market. In addition, the increasing inclination towards cosmetic procedures will improve the market outlook. According to the American Society for Aesthetic Plastic Surgery (ASAPS), in 2018, the American population spent more than US $ 16.7 billion on various cosmetic procedures such as skin resurfacing, body contouring, prevention of acne and others. In addition, the introduction of innovative aesthetics by large companies can have a huge impact on the global market. For example, in October 2019, NY Laser Outlet launched the NYLO Aesthetics division which offers the latest innovation in medical laser technology and non-invasive aesthetics. The goal is to expand NYLO Aesthetics’ portfolio of innovative products, including JetPeel, Reshape, Horizon, EmCyte Pure PRP and Ready Medical across the United States.

Introduction of innovative therapies to help the market amid the coronavirus

Heavy investments by large companies in laser technology will have a positive impact on the global market during the pandemic. For example, in July 2020, BELKIN Laser Ltd. announced a $ 12.2 million investment in a Series B financing, also led by Santen Ventures Inc. and Rimonci Capital. The funding will allow easy, efficient and quick treatment for patients with glaucoma using its laser treatment. Additionally, growing government support for robust laser treatment may further drive the market up. The UK government has invested around $ 105.10 million to start an unconventional imaging center – “Extreme Photonics Applications Center (EPAC)”. This will help generate accurate 3D images of the internal structure of objects using powerful laser technology.

Regional analysis:

Rising healthcare spending to propel growth in North America

The market in North America is expected to develop drastically during the forecast period owing to the growth in healthcare spending. The demand for cosmetic surgeries coupled with the emergence of advanced technologies will accelerate the growth of the market in North America. The presence of key players such as Coherent, Inc., IPG Photonics Corporation, Corning Incorporated and others will have a remarkable effect on the North American market. In addition, the introduction of advanced laser solutions by large companies will further contribute to the growth of the market in North America. For example, in April 2020, Coherent, Inc. launched its new generation of multi-kilowatt industrial diode lasers – “HighLight DL HPSi”. It is suitable for various industrial applications in heat treatment, metal coating, welding and brazing.

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Key development:

july 2020: Lumenis Ltd. introduced the patented new generation MOSES platform – “MOSES 2.0”. The goal is to provide cost efficiency, greater patient satisfaction, better surgical outcomes and more.

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Contents

  • introduction
    • Definition, by segment
    • Research methodology / approach
    • Information source
  • Key points to remember
  • Market dynamics
    • Macro and micro economic indicators
    • Drivers, constraints, opportunities and trends
    • Impact of COVID-19
      • Short term impact
      • Long term impact
  • Competition landscape
  • Key market insights and strategic recommendations
  • Profiles of key players (Would be provided for 10 players only)
    • Overview
      • Key management
      • Headquarters etc
    • Offers / business segments
    • Key details (Key details are subject to data availability in the public domain and / or on chargeable databases)
      • Employee size
      • Key financial data
        • Past and current income
        • Gross margin
        • Geographic share
        • Share of business segment
    • Recent developments
  • Answers to the main interview
  • Annex / Appendix
    • Global Laser Technology Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
      • By laser type (value)
        • Semiconductor laser
        • Liquid laser
        • Gas laser
        • Others (Semiconductor, etc.)
      • By application (value)
        • Optical communication
        • Laser treatment
        • Others (Storage, etc.)

COT continues…!

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