The global quantum cascade laser market size is projected to grow from USD 335 million in 2019 to USD 422 million by 2025, at a CAGR of 3.9% during the forecast period. Increasing the use of quantum cascade lasers in gas sensing and chemical detection applications and growing demand for quantum cascade lasers in healthcare applications are the key factors driving the growth of the quantum cascade laser (QCL) market.
The QCL market is highly competitive, owing to the presence of a large number of regional and global players. The key players are focusing on enhancing their product portfolios and increasing market share through strategies, such as product launches, partnerships, joint ventures, contracts, and collaborations. Many quantum cascade laser market players adopted product launches as their key business strategy.
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Thorlabs, Inc. (US) has a wide array of product offerings in the quantum cascade laser market. It carries out product launches, collaborations, and acquisitions to offer Fabry-Perot and distributed feedback devices across the mid-infrared wavelength. In October 2014, it acquired the quantum cascade lasers business of Corning Incorporated (US), along with its associated optical semiconductor technologies research group in a private transaction. This acquisition strengthened the portfolio of Thorlabs, Inc. in sensing, scientific, and defense-related equipment. The company offers its products through distributors in Australia, Canada, India, Israel, Italy, Korea, Benelux, Poland, Russia, Singapore, Taiwan, and Turkey, as well as online. The company has strategic partnerships with Menlo Systems GmbH; Daylight Solutions, Inc.; Boston Micromachines Corporation; Praevium Research, Inc.; PicoLuz LLC; Idesta Quantum Electronics; and Castor Optics.
Block MEMS, is one of the key players in the quantum cascade laser market, with expertise in developing chemical sensing and gas detection devices. It continuously launches new products in the market to strengthen its product portfolio. In 2015 and 2014, it launched new products such as LaserWarn, LaserTune, and Mini-QCL module in the market. The collaboration of Block MEMS with Pfizer Inc. (US), to develop QCL-based systems is another step adopted by the company to improvise its product portfolio. In the quantum cascade portfolio, the company offers LaserSense, LaserWarn, LaserTune, and MCT IR Detector Module. LaserSense is a gas detection system based on infrared absorption spectroscopy. The company aims at increasing its reach in different applications such as telecommunication, oil & gas, and aerospace.
Quantum Cascade Laser Market by Packaging Type (C-Mount, HHL & VHL Package, TO3 Package), Operation Mode (Continuous Wave, Pulsed), Fabrication Technology (Fabry–Perot, Distributed Feedback), End User, and Region - Global Forecast to 2025
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