Growing End-User Industries to Drive the Global Laser Materials Market | Technavio
LONDON–(BUSINESS WIRE)–#Research—TechnavioÔÇÖs
latest market research report on the global
laser materials market provides an analysis of the most
important trends expected to impact the market outlook from 2018-2022.
According to Technavio market research analysts, the global laser
materials market will grow at a CAGR of close to 6% during the
forecast period. One of the key factors driving the market growth is the
increased demand for laser materials from various end-user industries.
Laser materials are widely used in anti-tank missiles, radar, underwater
equipment in military applications, electronics sector, and the medical
and healthcare industry. The use of laser materials like metal,
plastics, ceramics, and glass to encapsulate laser equipment and to
protect printed circuit boards will significantly drive the growth of
the global laser materials market. Moreover, the implementation of laser
technology by the medical industry for oncology, drug delivery, gene
therapy, and nerve repair will boost the growth of the global laser
materials market during the forecast period.
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In this report, Technavio highlights the rise in the adoption of laser
technology by the medical industry as one of the key emerging trends in
the global laser materials market:
Rise in the adoption of laser technology by the
medical industry
During the forecast period, the medical and healthcare segment is
expected to witness the fastest growth rate in the global
laser materials market. Some of the important benefits provided
by the laser technology-based medical procedures are less incision,
faster curing time, which led to an increase in adoption by the medical
industry. In the medical sector, laser technology in highly adopted for
applications such as surgeries, reshaping the cornea to improve
eyesight, tattoo removal, and cutting into tissues during surgical
procedures. The implementation of laser technology helps remove plaque
from arteries and blood vessels. Plaque is a deposit of fat and
cholesterol formed in the inner walls of blood vessels, which blocks the
flow of blood to different organs.
ÔÇ£Laser technology is adopted in density and nerve repair. In
dentistry, laser technology is used to burn cavities and scaling. Thus,
the growth of the medical and healthcare sector and the extensive
acceptance of laser technology by the medical industry will drive the
growth of the global laser materials market during the forecast period,ÔÇØ says
a senior analyst at Technavio for research on specialty
chemicals.
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Global laser materials market segmentation
This market research report segments the global laser materials market
into the following material types (metal, glass, plastic, and ceramic)
and key regions (the Americas, APAC, and EMEA).
APAC was the leading region for the global laser materials market in
2017, accounting for a market share of nearly 48%. By 2022, APAC is
expected to continue dominating the market and register the highest
market growth.
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