It sounds to me like perhaps the lens where the laser beam exits the pointer may have become partially fouled and needs to be cleaned.
If a Q-tip or other cotton swab fits in the hole, try moistening it with alcohol (be *CERTAIN* that there is no glycerine in it - it will be shown on the bottle if glycerine is in there - cassette tape head or video tape head cleaner works very well for this purpose); clean the lens with the alcohol-moistened swab; then turn the swab over to the dry end or use a second swab if yours are not double-ended, and dry the lens with it.
Just my 2¢ here; individual results may vary.