Mid-infrared Lasers Market is Anticipated to Hold a Share of US$ 2.2 billion by 2031 Says Transparency Market Research

Increase in adoption of mid-infrared (IR) lasers in healthcare and biomedical applications is anticipated to offer lucrative opportunities to companies in the market

Wilmington, Delaware, United States, June 23, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global mid-infrared laser was valued at US$ 938.9 Mn in 2022 and is projected to reach US$ 2.2 Bn by 2031. Extensive usage of mid-infrared laser in the monitoring of industrial processes and for environmental analysis is anticipated to spur market growth.

Mid-infrared (IR) laser technology allows non-intrusive detection of gases with high sensitivity and selectivity. Utilization of mid-IR lasers is increasing rapidly in environmental gas monitoring applications.

Surge in application of mid-IR in minimally invasive surgeries is a key trend expected to augment market development in the next few years. Continuous advancements in laser technologies are paving the way for introduction of powerful mid-IR laser sources which find usage in non-metal laser material processing applications.

Focus of laser device manufacturers to incorporate novel laser gas analysis technologies. For instance, tunable diode laser spectrometer has been developed, which is used for accurate identification of a range of gases such as methane, ammonia, and carbon dioxide. Surge in demand for laser absorption spectroscopy gas analyzers is likely to boost the market.

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Market Snapshot:

Report Coverage	Details
Market Revenue	US$ 938.8 Mn
Estimated Value	US$ 2.2 Bn
Growth Rate –  CAGR	9.6%
Forecast Period	2023-2031
No. of Pages	165 Pages
Market Segmentation	Type, Wavelength, Application, End-use Industry
Regions Covered	North America, Europe, Asia Pacific, Middle East & Africa, South America
Companies Covered	Hamamatsu Photonics K. K., Thermo Fisher Scientific Inc., Boston Electronics Corporation, Genia Photonics Inc., IPG PHOTONICS CORPORATION, Photonics Industries International Inc., Menlo Systems GmbH, Sacher Lasertechnik Group, Soliton Laser- und Messtechnik GmbH, Thorlabs, Inc., HÜBNER Photonics

Key Findings of Study

• Rise in Usage of Tunable Mid-IR Lasers: Usage of mid-IR lasers in non-destructive testing of materials in microelectronics presents significant business opportunities for companies in the market. Considerable utilization of tunable lasers in biomedical and environmental gas sensing applications is expected to fuel mid-infrared lasers industry growth.
• Rise in R&D activities in tunable mid-IR lasers is expected to bolster commercialization of next-generation laser technologies for use in spectroscopy and sensing applications. Based on wavelength, the tunable mid-IR lasers segment is anticipated to grow at a CAGR of 10.1% from 2023 to 2031.
• Rapid Increase in Adoption of Mid-IR Lasers in Minimally-invasive Surgeries: Significant adoption of mid-IR laser sources for ablation and tissue imaging applications is anticipated to propel the healthcare and life science end-use industry segment in the next few years. Surge in usage of mid-IR lasers in disease diagnosis is expected to offer robust growth opportunities for companies in the market.

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Key Growth Drivers of Mid-infrared Laser Market

• Continuous adoption of laser technology for the treatment of a range of diseases across medical specialties is a key driver of the mid-infrared lasers market. Rise in adoption of advanced laser devices in dermatology, imaging, dentistry, and ophthalmology is anticipated to drive the market in the next few years.
• Rapid technological advancement in mid-IR laser technology is expected to pave the way for novel gas & chemical lasers. For instance, quantum cascade lasers have been developed that detect chemical species in solid, liquid, and gas mixtures with high accuracy.
• Rapid increase in utilization of mid-IR technology by the militaries in the defense sector is expected to drive the mid-infrared lasers industry

Regional Landscape

North America constituted the leading market share of 36.7% in 2022. The market in the region is anticipated to expand at a significant pace from 2023 to 2031, due to considerable usage of spectroscopy equipment in a range of applications, especially environmental gas monitoring.

Surge in demand for mid-IR lasers in the defense and aerospace sectors in the U.S. is anticipated to augment market value in the region in the near future.

Asia Pacific accounted for a share of 34.9% in 2022. Significant utilization of mid-IR lasers in the chemical and healthcare industries is anticipated to propel the market.

Rise in application of mid-infrared lasers to detect toxic pollutants from industrial processes in developing countries is poised to accelerate market development in Asia Pacific in the near future. Widespread usage of mid-IR lasers in healthcare and biomedical applications in South Korea, India, Taiwan, and China is likely to strengthen market size in the region.

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Competition Landscape

Leading players are adopting mergers & acquisitions and product portfolio expansion strategies to strengthen their positions in the mid-infrared lasers market.

Prominent companies in the in the market are

• Hamamatsu Photonics K.K.
• Thermo Fisher Scientific Inc.
• Boston Electronics
• Genia Photonics Inc.
• IPG Photonics Corporation
• Photonics Industries International Inc.
• Menlo systems GmbH
• Soliton Technologies
• Thorlabs
• HÜBNER Photonics
• Sacher Lasertechnik Group

Mid-infrared Laser Market Segmentation

Type

• Quantum Cascade Lasers
• Optical parametric Oscillators
• Solid State Lasers
• Fiber Lasers
• Gas and Chemical Lasers
• Others
  • Lead Salt Lasers
  • Dope Insulator Bulk Laser

Wavelength

• Tunable Mid-IR Lasers
• Fixed Mid-IR Lasers
• Broadband Mid-IR Lasers

Application

• Missile Countermeasures
• Spectroscopy
• Remote Sensing
• Welding
• Non-invasive Medical Diagnosis
• LIDAR
• Laser Scalpels
• Others
  • Line-of-Sight Communications
  • Non-destructive Inspection

End-use Industry

• Healthcare and Life Science
• Aerospace and Defense
• IT & Telecom
• Automotive
• Industrial
• Chemical
• Others
  • Oil & Gas
  • Research and Academia

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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