Medical is the fourth largest market segment for lasers, according to Strategies Unlimited. At the Lasers and Photonics Marketplace Seminar during SPIE Photonics West 2015, analyst Allen Nogee revealed that the hottest growth areas within medical are surgical (13% growth), ophthalmic (9%), and cosmetic (8%).
Looking specifically at fiber lasers, Nogee pointed out that medical will overtake military to become the second largest non-industrial application in 2015—a trend that will continue for the foreseeable future, with medical growing at an increasing rate while other non-industrial applications, except for sensors, either grow much more slowly or decline.
The information Nogee presented comes from the Worldwide Market for Lasers: Market Review and Forecast 2015. It is worth noting that the laser market does not include many of the technologies important for biophotonics; in fact, other light sources are becoming increasingly important, as are related technologies.