Global Terahertz And Infrared Spectroscopy Market To Grow At A CAGR Of 21.09% During The Forecast Period

13-Jul-2022 | Zion Market Research

The global terahertz and infrared spectroscopy market was valued at over $1.2B in 2021 and is projected to reach $.4.3B by 2028 while growing at a CAGR of 21.09% during the forecast period.

Terahertz spectroscopy has managed to gain world attention because of its unique features like fingerprint spectrum, biosafety, and excellent penetration. THz is a band of the electromagnetic spectrum that lies between microwaves & far-infrared and is defined by radiation between 0.1 and 10 THz with the corresponding wavelength of 3mm to 30 µm. Some of the remarkable characteristics of the THz radiations are fingerprint spectrum which can be used for substance detection and recognition, possesses excellent biosafety in comparison to X-rays, provides coherent measurements, has high spatial and time resolution along with good presentation thus being able to penetrate dielectric materials like clothing, plastics, and ceramics.

Infrared spectroscopy is an absorption method used for quality and quantity checks. The infrared region comprises a spectrum including electromagnetic radiations that alter between rotational and vibrational states of covalent bonds found in organic molecules. The IR spectrum of any organic compound is like an exclusive physical property used to identify unknowns by interpreting characteristic absorbances along with a comparison with spectral libraries. The technology is widely used in forensic sciences to back criminal or civil cases. With advancements in technology, infrared spectrometers are now manufactured in compact sizes that can easily be transported for field trials.

The global market received a positive push due to the onset of Covid-19 which was majorly due to the rise in research activities for vaccine development and gaining knowledge about the virus. Governments increased their funding and private companies expanded their research activities to tackle the virus's spread.

The global terahertz and infrared spectroscopy market growth can be attributed to the use of these technologies in the pharmaceutical sector where they are used to determine the integrity and heterogeneity of pharmaceutical coating & cores in case of solid dosage analysis. For table coating thickness in-line control, a THz spectrometer is used to monitor and guide in-line pharmaceutical products thus aiding product understanding and process designing. Owing to the enormous implications of pharmaceutical products on the general health of the population, each country has its own set of rules and regulations to be followed if a pharmaceutical manufacturer wishes to expand its user database. These regulations have become stricter in recent times given the increasingly reported case of unethical practices thus forcing the manufacturers to make use of THz and IR technology to provide accurate results to the concerned agencies.

The high cost of THz and IR spectrometers is expected to restrain the global market growth. The rising demand in the healthcare sector may provide growth opportunities in the global market expansion. The lack of affordability in emerging economies may pose challenges to global market growth.

Global Terahertz And Infrared Spectroscopy Market

The global terahertz and infrared spectroscopy market is segmented by technology, spectrum, end-use, application, and region

Based on technology, the global market segments are microcopy, benchtop, hyphenated, and portable & handheld. The global market is expected to be led by the benchtop followed by portable & handheld technology owing to the flexibility and improved workflow provided by them along with lesser space necessity to mount these spectrometers.

Based on spectrum, the global market segments are near-infrared radiation, far-infrared radiation, and mid-infrared radiation. The global market was dominated by mid-infrared radiation because of the increasing utilization in the healthcare sector and pharmaceutical applications while also contributing heavily to the food industry.

By end-use, the global market is segmented into industrial chemistry, food & beverage testing, environment testing, and pharmaceutical & biotechnology. Increased applications in food & beverage testing along with pharmaceutical & biotechnology is expected to drive the global market forward.

By application, homeland security, semiconductors, biomedical research & development, and non-destructive testing are the global market segments. Application in the semiconductor industry is expected to generate the highest revenue in the coming years.

Asia-Pacific is anticipated to lead the global terahertz and infrared spectroscopy market during the forecast period owing to rampant growth across sectors in regions like India and China owing to increased government initiatives and a rise in the number of business leaders. Taiwan is a leading nation known for its exceptional growth in micro-technology and is a huge exporter of the same. The semiconductor industry is a large contributor to economic growth in these regions and the growth in this industry will directly impact the positive demand for THz and IR spectrometers.

North America is projected to generate high revenues during the forecast period owing to the rampant actions adopted by market players to aid the expansion of its global footprint.

The global terahertz and infrared spectroscopy market is dominated by players like Shimadzu Corporation, BATOP GmbH, Microtech Instruments, BaySpec, Teledyne Princeton Instruments, Spectra Analysis Instruments, PerkinElmer, EKSPLA, HÜBNER GmbH, Thermo Fisher Scientific, Agilent Technologies, Bruker Corporation, Bruker Corporation, and Menlo Systems GmbH

Recent Developments:

  • In 2020, for its TS9001 system, Japan-based Advantest Corporation launched TDR (Time-Domain Reflectometry) which will employ Terahertz technology to provide high-resolution analysis in case of circuit failure which is one step further in the semiconductor industry growth.
  • In 2020, OMEGA 5 FTIR Gas Analyzer was launched by Bruker Corporation. The gas analyzer will assist in the investigation of catalytic processes along with the determination of gas impurities and process monitoring.

Browse the full Global Terahertz and Infrared Spectroscopy Market By Technology (Microscopy, Benchtop, Hyphenated, and Portable & Handheld), By Spectrum (Near-Infrared Radiation, Far-Infrared Radiation, and Mid-Infrared Radiation), By End Use (Industrial Chemistry, Food & Beverage Testing, Environmental Testing, and Pharmaceuticals & Biotechnology), By Application (Homeland Security, Semiconductors, Biomedical Research & Development, and Non-Destructive Testing), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028. Report at https://www.zionmarketresearch.com/report/terahertz-infrared-spectroscopy-market

The global terahertz and infrared spectroscopy market is segmented as follows:

By Technology

  • Microscopy
  • Benchtop
  • Hyphenated
  • Portable & Handheld

By Spectrum

  • Near-Infrared Radiation
  • Far-Infrared Radiation
  • Mid-Infrared Radiation

By End-Use

  • Industrial Chemistry
  • Food & Beverage Testing
  • Environmental Testing
  • Pharmaceuticals & Biotechnology

By Application

  • Homeland Security
  • Semiconductors
  • Biomedical Research & Development
  • Non-Destructive Testing

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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