Ultrafast Lasers Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

By Author: Statzy Market Research
Total Articles: 979
Comment this article

The Ultrafast Lasers Market was valued at USD 1437.1 million in 2020 and is expected to reach USD 3313.0 million by 2026, registering a CAGR of 16.6%, during the forecast period (2021 - 2026). In medical applications, Q-switched lasers are being replaced with ultrafast lasers. Also, some non-laser techniques, such as surgical scalpels and mechanical saws are being substituted owing to their similar practicality traits and easy-to-handle options.

- Industries have moved from laser cut technology to ultrafast laser technology for machining accuracy and thus enabling early time to market. The improvement in the process precision reduces the overall time and operating cost for the production line, which is the primary reason for the adoption of material processing applications.

- There is a learning curve associated with bringing laser technology in house. For instance, the majority of drawbacks are related to the learning curve involved in bringing femtosecond laser-assisted cataract surgery in the house. More than the initial coursework, the professional needs to set aside dedicated time to learning how to ...
... work with the laser in his/her office. This includes everything from where to set up the machine to how the support staff can best assist with the procedures.

- In the medical applications, Q-switched lasers are being replaced with ultrafast lasers. Also, some non-laser techniques, such as surgical scalpels and mechanical saws, are being substituted, owing to their similar practicality traits and easy-to-handle options. The need for high precision is crucial, especially across high-value products, such as smartphones, automobiles, and medical devices, that are designed to match dimensional accuracies, which reflects the desired performance.

- With the government imposing regulations, including quality, to increase the mileage and reduce the CO2 emissions, automobile manufacturers are turning toward technological innovations in lasers to meet the targets and follow the stringent rules imposed by the government.

- Furthermore, with the outbreak of the COVID-19 pandemic across the globe, the market studied has witnessed a disruption in supply chain and manufacturing operations. Companies offering ultrafast lasers have witnessed decline in bookings for their products.

- For instance, Laser giant Coherent has reported sales of USD 298 million for the quarter ending July 4, 2020. The pandemic has inevitably impacted the company's ability to meet with customers directly, and bookings in the quarter were affected more than sales revenues. Although the sales figure was up slightly from the figure of USD 293 million registered three months ago, Coherent's book-to-bill ratio dropped below one.

Key Market Trends

Medical Industry is Expected to Witness Significant Growth

- Medical device manufacturers are also finding the need to install the ultrafast lasers for fabrication, as they are high-added-value components with stringent quality requirements, and the manufacturing process is often challenging. Metal marking (CE and UDI) mandates further scope for ultrafast lasers.

- Stents are widely manufactured by laser-based systems. They are mostly made of metal or polymers and are processed by microsecond or nanosecond pulse duration lasers. However, these long pulse lasers add to the post-processing (deburringand post-polishing) cleaning costs. Bio-absorbable stents (made of a polymer that is extremely sensitive to thermal effects) are gaining traction across high healthcare-spending regions, like Europe. Manufacturers find the need for ultrafast lasers, as they cannot be machined with the required quality by long pulse lasers.

- Technological advancements in laser power and repetition rate achieved by companies, like Amplitude, MKS (Spectra-Physics), Jenoptik, etc., over the years, have had a significant impact on the process productivity, thus increasing the buyers interest and increasing applications. These companies have collaborated with other technology companies to develop system integration capabilities that are necessary to move femtosecond lasers into the marketplace.

- Thus, the stent manufacturing sector provides significant scope for the vendors of the market. In addition to stents fabrication, ultrafast lasers are also being used for catheter hole drilling, intraocular lenses (IOLs), and prosthetics fabrication.

- In the biomedical field, ultrafast lasers are being used in full length procedures. For instance, to cut various incisions in the cornea and the lens capsule. Due to their ability to enable high precision and reducing/eliminating the need for intrusive ultrasounds and post processing in the eye (crystalline lens destruction in cataract procedures), these lasers are being increasingly used.

For sample report please visit: https://www.statzyreports.com/report/sr497110/ultrafast-lasers-market

Asia-Pacific is Expected to Hold a Significant Market Share

- Asia is expected to emerge as a potential market, considering the growth curve of the electronics powerhouse, China. As of November 2020, scientists from China (Chinese Academy of Sciences' Xi'an Institute of Optics and Precision Mechanics in Shaanxi province) were able to master the ultrafast laser technology independently and are being widely deployed in commercial applications in the past few years, thus helping in the improvement of the country's high-precision manufacturing capability.

- The achievement is expected to pave the way for the innovation-driven development mapped out in the blueprint for the 14th Five-Year Plan (2021-25). Besides, the adoption of longer-term objectives reiterated the core position of innovation in China's modernization at the Fifth Plenary Session of the 19th Communist Party of China Central Committee late last month.

- Significant advancements in ultra-short and ultra-intense laser technology have led numerous laboratories in China to develop laser systems as a means of investigating laser-matter interactions in a relativistic regime. For example, The Shanghai Superintense Ultrafast Laser Facility (SULF), a large-scale scientific project in Shanghai, China, consists of two laser beamlines, the SULF-1PW beamline operating at 0.1Hz repetition rate, and the SULF-10PW beamline operating at one shot per minute.

- A research study conducted by the researchers at the Photonic Sciences Lab at the Physical Research Laboratory in India indicated the development of an ultrafast, high-power yellow laser that helps fill the need for a practical yellow light source emitting ultrafast pulses of light. The tunable laser exhibits excellent beam quality and is poised to benefit biomedical applications.

Competitive Landscape

The Ultrafast lasers market is highly competitive owing to the presence of multiple players. The market appears to be moderately concentrated. Vendors in the market are involved in new product rollouts with significant R&D investments and partnerships that significantly boost the market growth. In addition to technological investments, companies also have acquisitions as their growth strategy. The market consists of laser/photonic giants, such as Coherent, Trumpf, Jenoptik, Lumentum, among others.

- March 2019 - Coherent Inc. significantly expanded its Gilching, Germany micromachining, and sub-system facility in Gilching, and completed the relocation of the company's laser marking group from nearby Gunding. This Center of Excellence, designated as Coherent Munich was an upgrade to the organization's applications and R&D capabilities.

- March 2019 - Trumpf's new disk laser TruDisk Pulse 421 generates laser light in the green spectrum at 515 nanometers. It operates in the pulsed mode at a mean power of 400 watts and solves the problems found when using infrared lasers to weld copper.

- February 2019 - MKS, introduced Spectra-Physics IceFyre 355-30, a high power, industrial UV picosecond hybrid fiber laser designed for micromachining applications in high throughput manufacturing.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format

- 3 months of analyst support

Free Sample report for this report is available @

For sample report please visit: https://www.statzyreports.com/report/sr497110/ultrafast-lasers-market

Contact Us:

Poojan Dogra

Public Relations Manager

Statzy Market Research

Email : info@statzyreports.com

(IN) - +918484035727

(US) - +1415-871-0483

Website : www.statzyreports.com

StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.