The mid-infrared lasers market is expected to reach US$ 1763.0 Mn in 2026, expanding at a CAGR of 11.4% during the forecast period.
Albany, NY -- (SBWIRE) -- 05/29/2018 -- The market for Mid-infrared Lasers Market growing with the expansion of this Industry Sector Worldwide. Market Research Report Search Engine (MRRSE) has added a new report titled "Mid-infrared Lasers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026" which offer details about the current trends as well as scope for the near future. This research study also covers information about the production and market share based on different active regions. Furthermore, an anticipated growth at a double-digit CAGR for the concerned Mid-infrared Lasers Market is highlighted in the report which indicates a prosperous future.
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Mid-infrared spectrum and sources find major applications in the field of defense and security in explosive detection; nuclear and narcotic material detection; combat identification; precision marking; targeting air, land, and naval countermeasures; and free space communication among others globally. Developed as well as developing economies are increasing research and development spending on aerospace and defense to strengthen defense capabilities and incorporate advanced counter measures to safeguard defense infrastructure and vessels from enemy threats. This is anticipated to drive the mid-infrared lasers market during the forecast period, as they offer superior solutions in defense and aerospace applications. The mid-infrared lasers market is expected to reach US$ 1763.0 Mn in 2026, expanding at a CAGR of 11.4% during the forecast period.
Demand for mid-infrared lasers has been increasing from the health care, environmental monitoring, and communication sectors. In recent times, there has been a rise in demand for laser-spectroscopic systems in laboratories for various applications in areas ranging from environmental and industrial to medical and forensic fields. Additionally, increasing demand for mid IR laser-based devices across various end-use application sectors such as aerospace & defense and research & development among others is projected to boost the mid-infrared lasers market. Mid-IR laser technology is not fully developed, and its applications are still in the research stage. The scope of research includes spectroscopy, environmental sensing, life sciences, free space communication, and medical diagnostics. Rise in terrorism activities around the globe has led to increased military spending. This is expected to drive the mid-IR laser market as these lasers are very useful in various military applications, particularly in bomb detection. Further more, health care is also one of the rapidly expanding segments in terms of application. Use of mid-IR laser in dentistry is one of the most popular applications. Moreover, the traditional surgery for removing tissues is now being replaced by laser surgery. Laser surgery helps to minimize scars on the tissues. In the coming years, rise in adoption of mid IR lasers in the health care industry is anticipated to propel demand for them. Mid-infrared (MIR) spectroscopy is a dominant tool for chemical sensing applications. As a result, MIR spectroscopy is widely used in industrial and environmental monitoring as well as medical and biochemical diagnostics. Rapid technological developments in the field of chemical and environmental research are expected to drive demand for mid infrared lasers in the near future.
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Prominent players as identified in the mid IR lasers market and profiled in the study include Hamamatsu Photonics Kk, IPG Photonics Corp, Photonics Industries International Inc, Genia Photonics Inc, Block Engineering, Alpes Lasers S.A, AMS Technologies AG, Boston Electronics Corporation, ELUXI Ltd, EQ Photonics Gmbh, Genia Photonics, Physical Sciences Inc, Polaronyx Laser, Power Technology Inc, Powerlase Photonics, Pranalytica Inc, Quanta System Spa, Sacher Lasertechnik Group, SOLAR Laser Systems, Soliton Laser- und Messtechnik GmbH, Spectra-Physics, and ThermoFisher Scientific Inc. Companies are focusing on expanding their businesses through strategic acquisitions and partnerships with several end-use industries.
Global Mid-infrared Lasers Market: Research Methodology
The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary sources such as annual reports, company websites, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, statistical databases, World Bank database, and industry white papers are usually referred.
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the mid infrared lasers market, across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competitive landscape, growth trends, etc. These factors help to validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.
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