The growing use of lasers in a variety of industries and the strict government rules for worker safety are only two of the factors propelling the laser safety market. Another important factor for the market's expansion is the development of laser technology. The greater awareness of the dangers associated with the use of lasers is another factor driving the market's rise. Additionally, it is projected that throughout the forecast period, new chances for market expansion will arise as a result of ongoing innovation and the creation of new products.
Due to the rise in laser-related incidents, there is a greater need for laser safety. The sector is also growing as a result of rigorous government regulations around worker safety. Another important factor for the market's expansion is the development of laser technology.
The goods in the Laser Safety Market have the benefit of preventing the damaging effects of lasers on the skin and eyes. Additionally, these goods contribute to lowering the chance of accidents and injuries. The ability to decrease downtime and boost productivity is another benefit of laser safety equipment. The advantages provided by laser safety devices are promoting market expansion.
In order to reduce the danger of laser accidents, injuries, and health damage, laser safety refers to the safe design, use, and implementation of lasers. The main objective of laser safety is to safeguard the skin and eyes against the harmful effects of lasers. The design of laser enclosures and the usage of personal protection equipment are just a couple of the steps taken to ensure the safe use of lasers. The use of lasers in a variety of fields, including medicine, the military, research, and education, is expanding quickly.
From 2021 to 2031, the market for laser safety is expected to expand at a CAGR of 5.6%, reaching a value of USD 1.2 billion.
One of the main problems impeding market expansion is the high cost of laser safety devices. Another factor impeding market expansion is small and medium businesses lack of knowledge about laser safety products. However, it is projected that over the projection period, ongoing innovation and the development of new products will generate the new potential for market growth.
ThreeM, Honeywell International Inc., MKS Instruments, Inc., The Berg Group, Inc., Rofin-Sinar Technologies, Inc., Coherent, Inc., Physik Instrumente (PI) GmbH & Co. KG, Trumpf Lasers & Systems, and Epilog Laser are the major companies active in the laser safety market.
The Eyewear & Goggles Type to Emerge as the Most Lucrative Segment
Eyewear & Goggles, Face Shields, Windows, Barriers & Curtains, and Others are the types into which the Laser Safety Market is divided. Among them, the eyeglasses & goggles segment is predicted to grow at the highest CAGR over the projection period. Laser safety devices are becoming more and more necessary as the frequency of incidents brought on by lasers rises. Due to the growing application of lasers across a number of sectors, the Windows segment is anticipated to hold the greatest market share. In terms of CAGR, the Face Shields market is anticipated to expand at the second-highest rate. While the market for curtains and barriers is predicted to grow at a moderate CAGR over the course of the projected period.
The Most Popular Application Segment is the Medical
The Laser Safety Market is divided into the Medical, Military, Industrial, Education & Research, and Other categories based on applications. The medical sector is predicted to experience the highest CAGR growth of all of them throughout the projection period. because more medical operations, including surgery, cancer therapy, and aesthetic surgeries, are using lasers. Due to the strict government rules for troops' safety, the military sector is anticipated to hold the highest market share. The education & research category is expected to grow at a moderate CAGR throughout the projection period. And throughout the course of the projected period, the others section is anticipated to increase slowly.
The Asia Pacific (APAC) region to render Adequate Financing Avenues
The geographies that make up the Laser Safety Market are North America, South America, Asia Pacific, Europe, the Middle East, and Africa. Asia Pacific is anticipated to hold the largest market share for laser safety among these regions as a result of the growth of industrial firms in the region. The expansion of the market in this area is also being fueled by the increased knowledge of the risks involved with the usage of lasers. Due to the presence of some of the top players, North America is also anticipated to be a significant market for laser safety. The Europe market is predicted to grow significantly as well during the forecast period. Due to the tighter government rules for employee safety and the expansion of laser use across a variety of sectors. During the forecast period, a respectable growth rate is also anticipated for the Middle East and Africa and South American regions.
COVID-19 Impact and Market Status
The COVID-19 outbreak has had a significant negative influence on the growth of the Laser Safety market as most manufacturing firms have closed down as a result of the lockdown imposed by various governments. The pandemic's beginning has had the biggest negative effects on the markets in North America and Europe. In the Asia Pacific market, the economic downturn is also projected to have an impact. The market is anticipated to rebound in the following years, though, as lockdown restrictions are gradually relaxed and manufacturing sectors are allowed to reopen. The market is expanding as a result of increased consumer knowledge of the risks connected with using lasers.
Latest Innovations in the Global Laser Safety Market: A Snapshot
• American Laser Enterprises (ALE) unveiled the Smartbeam Pro 2200, a 3 kW fibre laser intended for welding and cutting applications, in January 2019.
• Schott North America Inc. introduced a new line of filter glasses in February 2019 to protect eyes from dangerous lasers.
• A 3 kW fibre laser called Smartbeam Pro 2200, which was introduced in October 2019 by Rofin-Sinar Technologies Inc., is intended for welding and cutting applications.
Laser Safety Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 1.2 billion|
|Growth Rate||CAGR of 5.6% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||ThreeM, Honeywell International Inc., MKS Instruments, Inc., The Berg Group, Inc., Rofin-Sinar Technologies, Inc., Coherent, Inc., Physik Instrumente (PI) GmbH & Co. KG, Trumpf Lasers & Systems, and Epilog Laser|
Key Segment of Global Laser Safety Market
By Type Overview 2021-2031, (USD Billion)
• Eyewear & Goggles
• Face Shields
• Barriers & Curtains
By Application Overview 2021-2031, (USD Billion)
• Education & Research
By Region Overview 2021-2031, (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa