Laser safety glasses market

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Market Overview

• Laser safety is the safe design, implementation,
  and use of lasers to reduce the risk of laser
  accidents, specifically eye injuries. Laser
  safety glasses are used in any environment where
  eyes could directly be exposed to laser
  radiations since even slightest amount of laser
  can lead to perpetual eye injury. The laser
  safety glasses provide comfortable eyewear that a
  user can wear with safety levels of optical
  density, which reduces or lessens potentially
  hazardous laser exposures to a level that is safe
  and below maximum permissible exposure levels.
  Optical density is a measure of reduction of
  energy passing through the laser filter or glass.
  Higher the reduction of energy, higher is the OD
  value and greater is the protection level.

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• The Global Laser Safety Glasses Market, by
  Technology (Glass Laser Safety Eyewear,
  Polycarbonate Safety Glasses, Thin-film Glasses,
  Laser Protective Face Shields, and Intense Pulse
  Light Glasses), by Application (Automotive
  Manufacturing, Medical, Chemicals, Military and
  Defence and Others), and by Geography (North
  America, Europe, Asia Pacific, and Latin America,
  Middle East Africa) - Global Forecast to 2027,
  is expected to be valued at US  718.02 million
  by 2027, witnessing a CAGR of 8.5 during the
  forecast period (2019-2027), as highlighted in a
  report published by Coherent Market Insights.

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Market Dynamics- Drivers

• Strict regulatory policies concerning safety of
  workers are expected to drive growth of the
  global laser safety glasses market during the
  forecast period
• Growing awareness and stringent government
  regulations regarding hazards laser could present
  have increased the demand for laser safety
  glasses significantly. Moreover, increasing
  options related to comfort and design of laser
  safety glasses offered by manufacturers are
  expected to boost the global laser safety glasses
  market growth during the forecast period. For
  instance, Occupational Safety and Health
  Administration (OSHA), an agency of the U.S.
  Department of Labor, has set standards for usage
  of Personal Protective Equipment (PPE) across
  different sectors and industries.
•  

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•  According to the standards, the employer is
  entailed to provide employees with safety and
  healthful working environment. The regulations
  also prohibit employers from retaliating against
  employees for exercising their rights under the
  law. Moreover, the employees are allowed to file
  a complaint to have OSHA inspect their workplace,
  if they suspect the regulatory standards are not
  being followed. Hence, such regulatory scenarios
  are expected to drive the market growth in the
  near future.

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• Introduction of novel technology is increasing
  application of lasers and is expected to propel
  the global laser safety glasses market growth
  over the forecast period
• Development of innovative and advanced laser
  technology has offered a wider scope for
  application of laser safety glasses in the
  medical field, especially in cosmetic surgery,
  eye surgery, oncology, dermatology, dentistry,
  etc. procedures. For instance, iLASIK is a
  revolutionary eye surgery that offers blade-free,
  fully customized laser vision correction. Intense
  laser beams used in this surgical procedure
  demands usage of good-quality glasses protection.
  Therefore, advancements in laser technology are
  expected to support the market growth over the
  forecast period.

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• Europe region dominated the global laser safety
  glasses market in 2019, accounting for 34.6
  share in terms of value, followed by North
  America, and Asia Pacific, respectively.

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Market Dynamics- Restraints

• Challenges for new entrants due to complex
  certification requirements are expected to
  restrain growth of the global laser safety
  glasses market during the forecast period
• Laser safety glass manufacturers face a common
  challenge of complying with regulatory norms of
  respective regions/countries. All laser safety
  glasses sold in EU countries must conform to the
  laser protection requirement of the personal
  protective equipment (PPE) directive. For
  instance, all laser safety glasses must be tested
  and certified to EN 207 (or EN 208 for alignment
  glasses). Furthermore, such testing is carried
  out by a government-approved test house, and
  self-certification is not allowed for these
  standards. Hence, all laser safety glasses
  products sold in Europe are certified to EN 207
  and EN 208. EN 207 and EN 208 standards refer to
  Optical Density (OD) specifications of laser
  safety glasses. Such factors are expected to
  restrain growth of the global laser safety
  glasses market over the forecast period.

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• Intense competition among manufacturers is
  expected to hinder the global laser safety
  glasses market over the forecast period
• High market capability of laser safety glasses in
  medical sector has offered lucrative
  opportunities for international as well as
  regional market players. However, this has
  resulted in intense competition in the laser
  safety glasses industry, owing to continuous
  launch of innovative products by market players.
  Moreover, established players such as LASERVISION
  are focused on gaining competitive edge in the
  market through new product launches and novel
  features, which in turn, is increasing
  competition. Thus, highly competitive environment
  is expected to hamper the global laser safety
  glasses market growth in the near future.

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Market Opportunities

• Growing popularity of laser surgery among
  populace is expected to present lucrative
  business opportunity
• Laser surgeries have gained significant
  popularity, as they are painless, blade-less,
  leave no visible mark on patients. Furthermore,
  surgeries are predominantly used in dermatology
  and eye surgeries. This, in turn, has created
  major market potential opportunities for laser
  protection glass manufacturers to capitalize
  untapped market.

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• Increasing adoption of laser safety glasses in
  aviation industry, owing rising laser strikes on
  aircrafts
• Laser-pointed strikes on aircraft have increased
  significantly in the U.S. In fact, pointing a
  laser at an aircraft is a federal crime in the
  U.S. A laser beam can temporarily blind pilots
  during critical times such as landing or taking
  off. According to Federal Aviation Administration
  (FAA), in 2018, around 5,663 laser incidents were
  reported in the U.S. Although the number has
  reduced from preceding years, laser strikes on
  aircraft remains a severe threat to aviation
  sector. This, in turn, has increased the demand
  for laser safety glasses in the aviation
  industry, thereby providing excellent growth
  opportunities for market players.

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• Increasing adoption of laser safety glasses in
  aviation industry, owing rising laser strikes on
  aircrafts

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Market Trends

• Constant mergers and acquisitions among key
  market players
• Key companies in the market are focused on
  mergers and acquisitions, in order to enhance
  their global market presence. For instance, in
  2010, Honeywell acquired Sperian Protection, a
  leading provider of personal protective
  equipment. Moreover, Sperian Protection has a
  well-developed portfolio for laser safety
  products and strong distribution network, which
  can boost growth of Honeywells laser safety
  glasses business.

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• Direct sales to customers through e-commerce
  platforms
• Key manufacturers in the market are focused on
  selling their products direct to consumers
  through online retail platforms. For instance,
  Laserglasses.com, an online store owned by
  Honeywell Safety Products USA Inc., sells laser
  safety glasses. Moreover, market players are
  selling their products via major e-commerce
  platforms such as Amazon.com and eBay.com to
  increase their customer reach.

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Segment Information

• In global laser safety glasses market, by
  application segment medical sub-segment dominated
  the global laser safety glasses market in 2019,
  accounting for 41.3 share in terms of value,
  followed by automotive manufacturing, Military
  and Defence respectively.

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Value Chain Analysis
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Competitive Section

• Key players involved in the global laser safety
  glasses market are Kentek Corporation, Honeywell
  International Inc., VS Eyewear, uvex group,
  Global Laser Ltd., Phillips Safety Products,
  Inc., NoIR Laser Company LLC, Thorlabs, Inc.,
  Laser Safety Industries, and Univet Optical
  Technologies.

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Key Developments

• Major companies in the market are focused on
  product launch, in order to gain competitive edge
  in the market. For instance, in January 2017,
  Univet Optical Technologies introduced Univet
  5.0, a specially designed safety glass for
  protection against laser beams.
• Key players in the market are involved in product
  development, in order to enhance their market
  presence. For instance, in February 2012,
  Honeywell Safety introduced the Honeywell Rio
  laser safety eyewear, which can be used as
  standalone, plus can be used over prescription
  glasses.

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