Global Semiconductor Lasers Market Size Estimated to Reach $8.8B by 2022

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Research and Markets has announced the addition of the "Global Semiconductors Laser Market By Product Type and By End User Application - Opportunity Analysis and Industry Forecast, 2014-2022" report to their offering.

The global semiconductor lasers market size is estimated to reach $8.8 billion by 2022 from $5.5 billion in 2015, growing at a CAGR of 6.9% from 2016 to 2022. Laser is produced through the optical amplification, which is done on the basis of stimulated emission of electromagnetic radiation. In semiconductor laser, this optical amplification is achieved through an active semiconductor element. 

The increased demand of semiconductor lasers in healthcare segment has fuelled its global market growth. Primarily, their adoption in medical sector is escalated due to its high efficiency, economical cost, and compact size. 

A semiconductor laser is less damaging than x-ray therapy and surgery. This is also a major factor which attracts medical sector toward semiconductor lasers. 

Key supporting factors which is driving the growth in global semiconductor lasers market include rise in demand of semiconductor lasers in defense sector, increased usage in medical sector, dedicated assembly, and low tolerance for packaging error. However, reliability issues and complexities in testing processes are major factors that is hampering the market growth. Although, increase in demand of data storage where semiconductor lasers are used largely opening new opportunities for the players operating in the market.