The OEMs in the global CO2 laser market are continually adding new features in their products, resulting in regular launches of innovative products in the market, which analysts forecast to grow at a CAGR of 5.36% over the period 2014-2019.
Complete CO2 Laser Market by end-user applications (communication applications, communication applications, medical applications, military applications and others) report spread across 69 pages, analyzing 5 major companies and supported with 36 data exhibits is now available in the CO2 Laser Market report.
According to the report, there is an increased demand for highly precise and efficient laser products in manufacturing and healthcare industry because CO2 laser systems also provide benefits such as treatment of skin imperfections including pigmentation, removal of moles, birthmarks, sun-damaged skin, and precancerous spots. Thus, seen and increased demand for cosmetic dentistry or aesthetic dentistry has created the demand for high-precision laser products.
The CO2 laser used in communication applications and material processing applications has been the highest contributor to the total revenue in 2014. These applications are expected to maintain their dominance during the forecast period due to the increase in the capability of the satellite communications and manufacturing sectors. However, due to increase in application of CO2 lasers in medical devices, the healthcare segment will be the fastest growing segment during the forecast period.
In terms of geography, the market is dominated by APAC with a share of over 42% in 2014 because of the presence of numerous automobile and consumer electronic device manufacturers in China, South Korea,Taiwan, and Japan. The APAC region is followed by other geographical regions, such as Europe and the Americas.
Further, the CO2 Laser Market Analysis Report 2015-2019 report states that competition from other technologies poses a threat for CO2 lasers. CO2 lasers face intense competition from fiber lasers in material processing for industrial applications. The global CO2 laser market is broadly demarcated by well-established and prominent vendors. Due to increased use of CO2 laser for end-user applications such as medical, military, and metal processing, major vendors have increased their spending on R&D to customize their products as per customers' requirements and enhance market share. The following companies are the key players in the Global CO2 Laser Market: Coherent, GSI Group, Han's Laser Technology Industry Group, Rofin-Sinar Technologies, and Trumpf. Other Prominent Vendors in the market are: Fanuc, GBOS Laser Technology, Lumenis, Laser Photonics, and Quanta System SpA.