Diffractive Optical Elements Market Analysis by Size, Rising Demand, Business Growth Factors and Revenue Strategies 2031

By 2031, the market for diffractive optical elements is projected to reach US$ 1.2 Bn, growing at a CAGR of 6.4%. Currently, sales of diffractive optical elements account for around 65% share of the global optical elements market.

The global market for Diffractive Optical Elements (DOEs) is expected to experience significant growth over the coming years owing to growing adoption of optical components such as diffractive beam shapers, diffractive beam splitters, homogenizers, beam diffusers, line generators in various industry applications.

Rising adoption of DOEs in applications such as homogenizers, biomedical devices, optical sensors, and laser material processing is expected to demand growth of diffractive optical element.

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Growing Demand for DOEs from Healthcare Industry

Diffractive optical element usage in the healthcare industry has observed increased demand for high-power medical lasers over the past decade. These elements shape and split laser beams in an energy-efficient manner. They can be implemented in a wide range of applications - medical laser treatments, laser material processing, and diagnostic instruments.

Moreover, research on biomedical applications of diffractive optical elements has increased substantially, and now, with high healthcare expenditures across the globe, many government-funded initiatives are also expected to boost the use of DOEs.

Multilevel diffractive optical elements are necessary for achieving high-efficiency performance. Diffractive optical elements help in the development of a wide variety of functions with minimal loss of light, thereby driving market growth.

COVID-19 Crisis Impact

The sudden outbreak of COVID-19 in the first quarter of 2020 completely shook the world and bought it to a near standstill. Globally, manufacturing and supply chains were affected and multiple markets saw a major drop in sales.

Disruptions in the supply chain created a gap between manufacturers and distributors, and hampered the supply of diffractive optical elements. As the pandemic subsides and the world returns to normalcy, research on diffractive optical elements is expected to pick up pace and boost demand from multiple industry verticals where DOEs are used extensively.

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Competitive landscape

Key diffractive optical element service providers are inclined at investing heavily in innovation, research, and development practices to uncover increased applications. With the use of technology, players are also focusing on ensuring safety, quality, and customer satisfaction for captivating an increased customer base.

Companies

Broadcom Inc.
Laserglow Technologies
Jenoptik AG
SÜSS MICROTEC SE
HOLO/OR LTD.
LightTrans GmbH
HOLOEYE Photonics AG
Laser Optical Engineering Ltd

Diffractive Optical Elements Industry Survey by Category

Diffractive Optical Elements Market by Type:

Beam Shapers
Low Power Beam Shaper
High Power Beam Shaper
Beam Splitters
Homogenizers (Beam Diffusers)

Diffractive Optical Elements Market by Application:

Laser Material Processing
Laser Marking
Laser Welding
Laser Cutting
Biomedical Devices
LiDAR
Lithographic and Holographic Lighting
Optical Sensors
Communication
Others

Diffractive Optical Elements Market by Industry:

DOEs for Telecommunication
DOEs for Healthcare
DOEs for Electronics and Semiconductors
DOEs for Energy
Others

Diffractive Optical Elements Market by Region:

North America Diffractive Optical Elements Market
Latin America Diffractive Optical Elements Market
Europe Diffractive Optical Elements Market
East Asia Diffractive Optical Elements Market
South Asia & Pacific Diffractive Optical Elements Market
Middle East & Africa Diffractive Optical Elements Market

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This release was published on openPR.