Laser Technology Market Growth & Trends

According to a recent report published by Grand View Research, Inc., the global laser technology market is poised for robust growth, with its market size projected to reach USD 32.69 billion by 2030. This market is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. Key drivers of this growth include rapid advancements in medical infrastructure and the rising number of cosmetic procedures being performed globally. In particular, the increasing demand for aesthetic laser treatments in emerging economies such as China and India is significantly contributing to the market expansion.

For instance, in November 2022, Apollo Hospitals Enterprise Ltd. in Bengaluru, India, unveiled the country's first Moses 2.0 laser technology system. This advanced system enables bloodless and painless treatments for conditions such as prostate enlargement and large kidney stones, offering a highly effective solution for high-risk patients.

Laser technology also plays a critical role in the evolution of Industry 4.0, which emphasizes smart manufacturing and automation. The integration of laser systems into industrial processes has led to enhanced productivity, cost efficiency, better quality control, and greater scalability. Laser technology supports a wide range of mechanical applications, including laser printing, cutting, welding, engraving, and brazing. Moreover, its convergence with modern technologies—such as the Internet of Things (IoT), cloud computing, artificial intelligence (AI), machine learning, and cyber-physical systems—further broadens its industrial application scope.

A notable example of this trend is the October 2022 launch of HIGHvision by Coherent Corp., a prominent U.S.-based manufacturer of semiconductors and optical components. This smart machine vision system, integrated with Industry 4.0 frameworks, enhances the precision and efficiency of laser welding heads. It is particularly effective in the manufacturing of electric vehicle (EV) motors and batteries, where speed and accuracy are essential.

In the medical field, laser technology has witnessed transformative growth. Medical lasers are non-invasive, high-intensity light sources that can target tissue accurately without causing discoloration or scarring. These devices are now routinely used across various disciplines, including urology, dermatology, ophthalmology, and dentistry. The increasing preference for non-invasive treatments and the rising number of laser-based procedures for disease management are expected to significantly boost market demand.

For example, in October 2021, Quantel Medical, a leading manufacturer of ophthalmic medical devices, launched a dedicated website focused on laser therapies for retinal disorders. The platform serves as a centralized resource, offering access to the latest clinical information, research, and advancements in retinal laser treatments, further demonstrating the growing application of laser technology in healthcare.

Laser Technology Market Report Highlights

• North America is witnessing strong market growth due to increased healthcare investment, the expansion of medical infrastructure, and technological advancements across multiple sectors.
• The rising adoption of laser technologies in augmented and virtual reality (AR/VR) as well as in LiDAR (light detection and ranging) applications is propelling growth across both consumer electronics and automotive industries.
• The implementation of 3D laser technologies has significantly lowered the cost and improved the efficiency of producing prosthetic devices. These technologies offer high precision, minimal contamination, and faster manufacturing times.
• The market is further driven by increased demand in healthcare, particularly for non-invasive procedures, and the expanding use of lasers in the fabrication of nanodevices and microdevices—key components in next-generation electronics and medical technologies.

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Laser Technology Market Segmentation

Grand View Research has segmented the global laser technology market based on type, product, application, vertical, and region:

Laser Technology Type Outlook (Revenue, USD Million, 2017 - 2030)

• Solid-state Lasers
  • Fiber Lasers
  • Ruby Lasers
  • YAG Lasers
  • Thin-Disk Lasers
• Gas Lasers
  • CO2 Lasers
  • Excimer Lasers
  • He-Ne Lasers
  • Argon Lasers
  • Chemical Lasers
• Liquid Lasers
• Semiconductor Lasers

Laser Technology Product Outlook (Revenue, USD Million, 2017 - 2030)

• Laser
• System

Laser Technology Application Outlook (Revenue, USD Million, 2017 - 2030)

• Laser Processing
  • Macroprocessing
    • Cutting
    • Drilling
    • Welding
  • Microprocessing
• Optical Communications
• Optoelectronic Devices
• Other Applications

Laser Technology Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• Telecommunications
• Industrial
• Semiconductor & Electronics
• Commercial
• Aerospace & Defence
• Automotive
• Healthcare
• Other End Users

Laser Technology Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
• Asia Pacific
  • China
  • India
  • Japan
• Central & South America
  • Brazil
• Middle East and Africa (MEA)

List of Key Players of the Laser Technology Market

• Coherent, Inc. 
• TRUMPF GmbH + Co. KG
• Han's Laser Technology Industry Group Co., Ltd. 
• Lumentum Holdings Inc. 
• JENOPTIK AG  
• Novanta Inc.
• LUMIBIRD
• Gravotech Marking 
• Corning Incorporated 
• Bystronic Laser AG

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