Global Ultrafast Laser Market Bwc19163

Global Ultrafast Laser Market, By Laser Type (Titanium-sapphire lasers, Diode-pumped lasers, Fiber Lasers, Mode-locked diode lasers), By Pulse Duration (Picosecond, Femtosecond), By Application (Biomedical, Materials processing, Spectroscopy and imaging, Science and research, Others), By Region (North America, Europe, The Asia-Pacific, Latin America, The Middle East and Africa) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: August 2021
  • Report ID: BWC19163
  • Available Format: PDF
  • Page: 200

Report Overview

The global ultrafast laser market is growing owing to the rise in applications of ultrafast laser for drilling, cutting, and surface processing in industrial processes. Also, its increasing use in nanomachining, and growing applications in biomedical applications is driving market growth.

The global ultrafast laser market was worth USD 1,435.3 million in 2020, and the market is further expected to reach USD 3,198.5 million by 2027 at a CAGR of 12.2% during the forecast period (2021-2027). Ultrafast lasers are being used in a growing number of industrial processes including drilling, cutting, and surface processing. Moreover, the growing demand for ultrafast laser for micromachining solutions and its use in biomedical applications for its features such as delivering high power without thermal damage is expected to drive the growth of the ultrafast laser market over the forecast period.

Ultrafast Laser Market

Source: BlueWeave Consulting

Global Ultrafast Laser Market Overview:

Ultrafast lasers are the lasers capable of producing short pulses of light, generally less than one picosecond. Ultrafast lasers are generated by coherently emitting light waves with a large number of modes, or integer multiples of half the light’s wavelength through in-phase superposition. Ultrafast lasers have become an essential part of the medical industry with Laser-Assisted In-Situ Keratomileusis (LASIK) operations becoming a go-to for non-invasive tissue surgeries.Ultrafast lasers are used for X-ray radiography, cancer therapy, positron emission tomography, as well as to develop advanced ignition schemes for fusion energy via inertial confinement (ICF) and for security purposes.

Global Ultrafast Laser MarketForecast and Trend

Growth Drivers

Growing Application in The Healthcare Industry

Nowadays, lasers are an essential part of the medical industry. One of the world’s most recognizable femtosecond laser brands, IntraLase is owned by American healthcare giant, Abbott, and the technology is used extensively in eye surgery. Ultrafast pulse rate lasers are especially beneficial in ophthalmology and the production of some medical devices.Femto lasers, a type of ultrafast laser, generate huge amounts of peak power while also massively reducing the heat produced during the process. Femtosecond lasers are being used in ophthalmic procedures, such as laser eye or refractive surgery, corneal surgery, and operations to remove cataracts from the eye. It's worth noting that ultrafast lasers help to ensure safe surgery and facilitate quick recovery times by processing tissues with extreme precision and minimal adverse effects without modifying their surface. Apart from surgery, ultrafast lasers are also used for the manufacturing of stents that are inserted into arteries or veins to improve blood flow. Additionally, ultrafast lasers are also used for prostheticsfabrication and intraocular lenses. Companies are also exploring the possibility of using Femto lasers for eye surgery, skin surgery, and other applications. During the forecast period, technological advancements are expected to drive the global ultrafast laser market, enabling the desired results to be achieved with a minimum of damage.

Upsurge in Demand for Ultrafast Lasers from The Automotive Industry

The automotive industry employs ultrafast lasers owing to their numerous advantages. Laser processing is highly flexible and adaptable as per the components, materials, and processes. The versatile nature of lasers is the main reason for their extensive application in the automotive industry. CO2 lasers and Nd:YAG lasers are commonly used by the automotive industry for welding, cutting, drilling, and surface modification. Additionally, ultrafast lasers are capable of removing paint from composite, polymer, and metal surfaces, as well as parts with complex structures. These applications, along with the highly precise and accurate nature of the laser process, are supporting the growing adoption of ultrafast lasers in the automotive industry, thereby driving the growth of the global ultrafast laser market.

Restraints

High Cost of Ultrafast Lasers

The cost-intensive nature of ultrafast lasers is the major restraint for the growth of the global ultrafast laser market. A femtosecond laser system for eye surgery requires an initial outlay of about USD 500,000, along with a 10% service fee every year. Usually, it takes a hospital about five to six years to break even on the high initial investment, without considering marketing or additional costs for facilities. This usually leads to hospitals charging excessively high rates for surgeries. This can drive patients away from laser surgeries besides affecting the growth of the global ultrafast laser market.

Impact of COVID-19 in the industry

The COVID-19 affected all the markets around the globe including the global ultrafast laser market. Ultrafast laser demand saw a decline in 2020 because of a drop in the demand for vehicles, as well as the overall drop in laser-assisted surgeries. As a result of the COVID-19 pandemic, Chinese parts exports were disrupted, large-scale manufacturing interruptions occurred across Europe, and the U.S. assembly plants were shut down, causing a decline in the demand for ultrafast lasers in the automotive industry. Nevertheless, the Refractive Surgery Council reported that laser vision correction procedures increased by over 200% in the second quarter of 2021 compared to the same period in 2020. With the automotive and surgical sectors expected to recover in 2021, the demand for ultrafast lasers is expected to go up and support the recovery of the market.

Global Ultrafast Laser Market: By Laser Type

Based on laser type, the global ultrafast laser market is segmented into titanium-sapphire lasers, diode-pumped lasers, fiber lasers, and mode-locked diode lasers. Among these, the fiber lasers segment dominated the global ultrafast lasers market in 2020 and held the largest market share. The fiber lasers' dominance in the market is due to their long service life, maintenance-free nature, versatility and high adaptability for varied processes and materials, ease of integration, compact size, low sensitivity, and little to no heat damage to the objects.

Regional Insights

Source: BlueWeave Consulting

Global Ultrafast Laser Market: Regional insights

Based on regions, the global ultrafast laser market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. Among these regions,North America dominated the global ultrafast laser market in 2020, driven by its global leaders in automotive, biomedical, material processing, and other industries. The rise in refractive eye surgery performed in North America is another factor driving the region’smarket growth. The Pacific Vision Institute in the U.S registered an increase of 42% in refractive eye surgeries between June-August 2020 compared to the same period in 2019. The fast recovery of the automotive and healthcare sector in the U.S further supports the dominant market share of the region in the global ultrafast laser market.

Competitive landscape

Several players dominate the ultrafast laser market, with a few holding the majority of the market share.Companies operating in Global Ultrafast Laser Market compete against each other based on solutions and services provided to the customers for various applications. The key players in the ultrafast laser market are Amplitude Systemes, Attodyne Inc., Coherent Inc., DPSS Lasers Inc., Fianium Ltd., Ekspla, Laser Quantum Ltd., Clark-MXR, Inc., Epilog Laser, Fluence Sp. z o.o., IPG Photonics, JENOPTIK Laser GmbH, Jds Uniphase Corporation, NKT Photonics A/S, Preco, Inc., Resonetics, Rofin-Sinar Laser GmbH, TRUMPF GmbH + Co. KG, Lumentum Operations LLC, and other prominent players.

Recent Developments

  • In July 2021, German research institute Fraunhofer IWS revealed that it is testing a 3D printing system that could be up to a thousand times faster than current mirror-based laser manufacturing technologies. According to the institute, this technology allows new alloys for use within the medical, electromobility, and aerospace sectors.
  • In March 2021, TRUMPF GmbH + Co. KG launched its new TruPrint 3000 metal Additive Manufacturing machine. The machine uses Laser Beam Powder Bed Fusion (PBF-LB) technology to produce parts with a diameter of up to 300 mm and a height of up to 400 mm.

 

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

United States, Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa

Product/Service Segmentation

By Laser Type, By Pulse Duration, By Application, By Region

Key Players

Key players in the market are Amplitude Systemes, Attodyne Inc., Coherent Inc., DPSS Lasers Inc., Fianium Ltd., Ekspla, Laser Quantum Ltd., Clark-MXR, Inc., Epilog Laser, Fluence Sp. z o.o., IPG Photonics, JENOPTIK Laser GmbH, Jds Uniphase Corporation, NKT Photonics A/S, Preco, Inc., Resonetics, Rofin-Sinar Laser GmbH, TRUMPF GmbH + Co. KG, Lumentum Operations LLC, and other prominent players.

 

Scope of the Report

By Laser Type

    • Titanium-sapphire lasers
    • Diode-pumped lasers
    • Fiber Lasers
    • Mode-locked diode lasers

Pulse Duration

    • Picosecond
    • Femtosecond

By Application

    • Biomedical
    • Materials processing
    • Spectroscopy and imaging,
    • Science and research
    • Others

By Region

    • North America
    • Europe
    • The Asia-Pacific
    • Latin America
    • The Middle East and Africa

 

 

FAQs:

 

  1. What is the current size of the Global Ultrafast Laser Market?

Answer: The global ultrafast laser market reached USD 1,435.3 million in 2020.

  1. What are the major factors driving the growth of the global ultrafast laser market?

Answer: The global ultrafast laser market growth is driven by its growing applications in healthcare and demand from the automotive sector.

  1. Who are the key players in the global ultrafast laser market?

Answer: The key players in the global ultrafast laser market are Amplitude Systemes, Attodyne Inc., Coherent Inc., DPSS Lasers Inc., Fianium Ltd., Ekspla, Laser Quantum Ltd., Clark-MXR, Inc., Epilog Laser, Fluence Sp. z o.o., NKT Photonics A/S, and other prominent players.

  1. Which laser type accounted for the largest share in the global ultrafast laser market?

Answer: Based on types, the fiber laser segment accounted for the largest share in the global ultrafast laser market.

  1. Which region held the largest market share in the global ultrafast laser market?

Answer: North America held the largest market share in the global ultrafast laser market.