Laser diodes are semiconductor sources of coherent and monochromatic light that are broadly used across myriad industrial and consumer applications. Their ability to emit bright visible or infrared light beams has enabled various complex optical applications. Healthcare has emerged as one of the key end-users, utilizing laser diodes in surgical procedures, diagnostic imaging, flow cytometry, DNA sequencing, optical coherence tomography and other advanced medical applications. The increasing adoption of minimally invasive and non-surgical procedures along with technological advancements are anticipated to drive the demand from healthcare vertical. The global Laser Diode Market is estimated to be valued at US$ 15 Billion in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023-2032, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand from the healthcare industry is one of the key trends driving growth of the laser diode market. Laser diodes find wide application in various medical procedures such as ophthalmology, dermatology, dental and wound healing due to benefits such as high precision cutting ability, less pain and improved recovery time. Moreover, laser diodes are increasingly being used in advanced medical devices such as endoscopes, flow cytometers and surgical microscopes. Their ability to emit highly focused beams of visible or near-infrared light makes them well-suited for delicate surgical procedures. With growing global geriatric population and rising prevalence of chronic and lifestyle diseases, the demand for minimally invasive medical treatments is surging exponentially, thereby propelling the need for laser diodes in the healthcare industry.
The laser diode market is segmented based on type, applications and regional markets. Based on type, the market is divided into visible laser diodes, infrared laser diodes and ultraviolet laser diodes. Among these, the infrared laser diode segment dominates the market and accounts for over 50% share. Infrared laser diodes find widespread applications in optical communication, industrial processing, medical devices and LiDAR. Their capability to operate in a wide range of application environment and emission wavelengths makes them ideal for diverse applications.
The global laser diode market is expected to witness high growth over the forecast period of 2023-2030.
Regional analysis: The Asia Pacific region currently holds the largest share in the global laser diode market owing to robust manufacturing industry and presence of key players in the region. China, Japan and South Korea are major markets in Asia Pacific. With growing industrial and communication infrastructure development projects, the laser diode demand is further expected to rise in Asia Pacific in coming years.
Key players operating in the laser diode market are OSRAM Licht AG, IPG Photonics Corp, TRUMPF, Coherent Inc, Jinan Style Lighttronics Co.,Ltd., Lumentum Operations LLC, andROFIN-SINAR Technologies Inc. OSRAM Licht AG specializes in manufacturing infrared laser diodes for industrial processing applications such as cutting, welding, and engraving. IPG Photonics Corp offers a broad range of laser diodes and systems for applications spanning manufacturing, telecommunications and spectroscopy.
- Source: Coherent Market Insights, Public sources, Desk research
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