Factors such as increasing use of quantum cascade lasers in gas sensing and chemical detection applications and growing demand for quantum cascade lasers in healthcare applications are driving the growth of the quantum cascade laser market. The market for continuous wave (CW) operation mode is expected to grow at a higher CAGR during the forecast period. This high growth is due to its use in most of the QCL devices, as it provides continuous waves without any delay in time.
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The quantum cascade laser market in APAC is projected to grow at the highest CAGR during the forecast period, owing to increasing industrial manufacturing infrastructure development activities and growing military & defense expenditure in emerging economies such as China and India. The commercialization of applications of QCLs is in its introductory stage in the developing economies of the APAC region.
Key Market Players include Thorlabs (US), Hamamatsu Photonics K.K. (Japan), mirSense (France), Emerson Electric Co. (US), Block MEMS (US), Wavelength Electronics Inc (US), Pranalytica (US), DRS Daylight Solutions (US), PNNL (US), nanoplus Nanosystems Technologies GmbH (Germany), Lasermax Inc. (US).
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