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According to this research, the Global Ultrafast Laser Market is expected to grow with a significant rate during the forecast period 2019-2025, owing to rising demand in the automobile industry for quality, product miniaturization, high precision, smaller lots, and applicability to diverse materials, and cost-effectiveness.
The uniqueness of ultrafast laser to deliver high peak power without thermal damage, which is ideally suited for biological and biomedical applications will boost the Ultrafast Laser market in the upcoming year.
Moreover, the major factor driving the market growth is the growing use of Ultrafast Laser in the automobile industry for performs micro-structuring in the automotive industry.
Furthermore, upsurge in the application of ultrafast lasers for the industrial process such as drilling, cutting, and surface processing due to their high efficiency and the precision will accelerate the growth of Ultrafast Laser market.
Additionally, the use of the ultrafast laser for fabricating three-dimensional structures in transparent solids and for removing the defects in ultrafast laser will contribute to Ultrafast Laser market growth during the forecast period.
Also, advancements in ultrafast laser technology as nonlinear imaging in bio-medical for understanding the dynamical processes found in many biological structures are major drivers for the growth of global Ultrafast Laser market in the forecast period.
Fiber Laser Diode Type of Ultrafast Laser Market Is Projected to Be the Leading Segment of the Overall Market During the Forecast Period
On the basis of diode type, the Ultrafast Laser market has been segmented into Titanium-sapphire lasers, diode-pumped lasers, fiber lasers, and mode-locked diode lasers. Fiber lasers dominate the global Ultrafast Laser owing to their growing need in micromachining and medical diagnostics due to its high stability, superior beam quality, compactness, and power scalability. Diode-pumped lasers will drive by its application in the manufacturing industry for high precision materials processing.
Biomedical is Projected to Lead the Industry for Utilizing Applications of the Ultrafast Laser During the Forecast Period
On the basis of Application, the global Ultrafast Laser market has been segmented into biomedical, materials processing, spectroscopy, and imaging, science, and research, & others. By Application, Biomedical will lead the market owing to the growing adoption of Ultrafast Laser for eye surgery and vision correction, dentistry, dermatology, and various kinds of cosmetic treatment such as tattoo removal and hair removal. Materials processing will influence by its uses for cutting, drilling, welding, cladding, soldering, hardening, ablating, surface treatment, micromachining, pulsed laser deposition, and lithography.
Europe Accounts for the Lion's Share of the Global Ultrafast Laser Market During the Anticipated Period
On the basis of region, the Ultrafast Laser market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe dominates the world Ultrafast Laser market over the forecast period owing to the presence of major companies coupled with the huge demand of Ultrafast Laser in the medical and manufacturing industry. The Asia Pacific is projected to be the fastest growing market throughout the forecast period due to the rapid expansion of manufacturing industries which will demand of ultrafast lasers.