Laser Eyeware Protection Market Size, Share, Growth, And Industry Analysis By Type (Glass, Polycarbonate, Others) By Application (Medical, Military, Scientific Research & Education, Industrial Use), Regional Forecast To 2031

Updated On: 01 April 2024

LASER EYEWARE PROTECTION MARKET REPORT OVERVIEW 

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The global laser eyeware protection market size was USD 300.23 million in 2021 and is projected to touch USD 700.2 million by 2031, exhibiting a CAGR of 8.84% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with laser eyeware protection Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

In order to lower the danger of laser mishaps, particularly eye injuries, laser safety refers to the safe design, implementation, and use of lasers. When eyes could be directly exposed to laser radiation, protective glasses are worn because even a tiny bit of laser can permanently harm the eyes. The user can wear comfortable eyeglasses with safe levels of optical density while wearing laser safety glasses, which helps to lower or lessen potentially dangerous laser exposures to a level that is safe and below the maximum allowable exposure levels. The amount of energy that is reduced as it passes through the laser filter or glass is measured by optical density. The OD value and protection level increase in proportion to the energy reduction.

The expansion and growth of the manufacturing and construction sectors as a result of rapid industrialization have been identified as a key driver in the rise in demand for laser eyeglasses. The market value of laser eyeglasses has increased as a result of expanding government initiatives to support and promote occupational safety. Accident rates are rising, which has opened up more lucrative chances for the laser eyeglasses market to develop in terms of types, sizes, and end-user industry applications. Manufacturers have been able to introduce innovations and do so at lower prices thanks to the entry of new companies and the continued dominance of established important competitors in the market.

COVID-19 Impact: COVID-19 Pandemic Significantly Affected The Market Growth

In numerous businesses, the COVID-19 epidemic has caused a stir. Governments throughout the world have been compelled to place stringent restrictions on vehicles and people moving around because of the virus's unparalleled rise in its transmission. The US is the country with the largest market for military technologies since it spends the most on its armed forces globally.

Additionally, the military technology producers saw a decline in new defence technology deliveries, cancellation or rescheduling of military orders and deliveries, and a labour shortage, all of which hindered their operations and their capacity to provide significant volumes of new products to the market. The sales of the military protective Eyewear market decreased as a result of an increase in order backlogs and orders, as well as a disrupted supply chain.

Latest Trends

"Ongoing Mergers And Acquisitions Among The Major Firms In The Market"

The market's leading organizations are concentrating on mergers and acquisitions to increase their global market presence. In 2010, Honeywell, for instance, bought Sperian Protection, a renowned producer of personal protective equipment. Additionally, Sperian Protection has a robust distribution network and a well-developed product portfolio for laser safety, which can help Honeywell's laser safety eyewear business flourish.

"Direct Sales To Consumers Through Online Shopping Channels"

The market's leading manufacturers are concentrating on selling their goods directly to customers through online retail channels. For instance, Honeywell Safety Products USA Inc.'s web business Laserglasses.com sells laser safety glasses. Additionally, to broaden their consumer base, industry participants are selling their goods on well-known e-commerce sites like Amazon.com and eBay.com.

LASER EYEWARE PROTECTION MARKET SEGMENTATION 

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• By Type Analysis

According to type, the market can be segmented into Glass, Polycarbonate, Others. Glass will be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Medical, Military, Scientific Research & Education, Industrial Use. Medical will be the dominating segment.

Driving Factors

"Application Of Lasers Is Expanding Due To The Introduction Of New Technologies Anticipated To Drive The Growth Of The Worldwide Laser Safety Glasses Market "

The use of laser safety glasses in the medical area has expanded thanks to the development of novel and sophisticated laser technology, particularly in treatments involving cosmetic surgery, eye surgery, cancer, dermatology, dentistry, etc. For instance, the cutting-edge eye procedure iLASIK delivers totally individualised, blade-free laser vision correction. The intense laser beams employed in this surgical technique need the use of protective eyewear of high grade. Therefore, over the course of the projected period, improvements in laser technology are anticipated to promote market expansion.

"Over The Course Of The Projected Period, Rising Demand From The Healthcare Sector Is Anticipated To Propel Market Expansion For Laser Safety Glasses"

There are several medical applications for laser technology. The laser beam is so tiny that it can safely treat tissue without causing damage to the surrounding area. Varicose veins, corneal surgery, tumour removal, kidney stone removal, prostate removal, skin resurfacing procedures, and eye retina repair are all conditions that are frequently treated with laser technology. The demand for these surgeries is rising along with the infrastructure in the healthcare industry. As a result, these elements are anticipated to hasten the growth of the global market for laser safety glasses in the near future. Additionally, compared to traditional procedures, these surgeries are much safer, which raises the demand for safety eyewear.

Restraining Factors 

"Complex Certification Requirements Present Difficulties For New Entrants."

Sales of laser safety eyewear are expected to be significantly constrained by stringent government regulations governing commercial licencing and severe producer competition.

Due to the complicated certification requirements that will be present during the forecast period, new competitors may experience difficulties in the laser safety glasses market.

LASER EYEWARE PROTECTION MARKET REGIONAL INSIGHTS 

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"Europe Will Be The Leading Segment During The Forecast Period"

The region gains the top spot on the market and is anticipated to expand at a CAGR of 8.63% over the forecast period. Some significant market participants are based in Asia-Pacific, including Han's Laser Technology Industry Group and others. The market in the region is anticipated to increase as a result of the region's reputation for strength in the automotive and medical sectors. Many different types of research and development projects have been undertaken by businesses. Auto manufacturing in the area is transitioning to electrification, which calls for high stiffness, design flexibility, and productivity.

With a CAGR of 7.73%, Europe, which now holds the second-largest market share, is predicted to generate USD 8.29 billion by 2030. The market is expected to grow, especially in the healthcare and automotive industries. The demand for minimally invasive operations has led to the commercialization of laser systems in the region's medical business. Dentistry, dermatology, and ophthalmology are a few examples. Due to the region's growing elderly population and rising cancer incidence, medical laser systems have increased. Additionally, medical laser devices are used in routine treatments.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Univet Optical Technologies (U.S.)
• Kentek Corporation (U.S.)
• Gentex (U.S.)
• Honeywell International (U.S.)
• BASTO (Spain)
• ESS (Asia Pacific)
• Global Laser Ltd (India)
• Phillips Safety Products Inc (Amsterdam)
• Metamaterial Technologies (Canada)
• Laser Safety Industries (U.S.)
• NoIR LaserShields (U.S.)
• Uvex group (Germany)
• Revision Military (U.S.)
• Thorlabs Inc (U.S.)
• PerriQuest (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.