Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1467.8 Million | USD 2544.14 Million | 5.8% | 2024 |
The global terahertz and infrared spectroscopy market size was worth around USD 1467.8 Million in 2024 and is predicted to grow to around USD 2544.14 Million by 2034 with a compound annual growth rate (CAGR) of roughly 5.8% between 2025 and 2034. The report analyzes the global terahertz and infrared spectroscopy market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the terahertz and infrared spectroscopy industry.
Terahertz spectroscopy aids the detection and control of matters that have electromagnetic fields ranging in frequency between a few hundred gigahertz and multiple terahertz. In the system that pertains to many problems related to interacting microscopic particles, there are multiple relevant states where energy difference matches the energy of a Terahertz photon, thus making Terahertz spectroscopy an efficient method to resolve and control the individual transition between multiple many-body states. The vast application of THz spectroscopy in understanding the vibrational modes of biomolecules with extremely low frequency has made it one of the most powerful tools to research life-science-related organic molecules.
Infrared spectroscopy refers to technology that deals with light that has a longer wavelength and a lower frequency than visible light or the infrared region of the electromagnetic spectrum. The technology is used to interact with molecules with the help of infrared light. The IR spectrometer plots a graph with the help of absorbed infrared light and the graph is then studied by analyzing it in the following three ways: measuring reflection, emission, or absorption. Infrared spectroscopy has vast applications in the field of food sciences, pharmaceutical, petroleum, and forestry as it is one of the most sought-after analytical tools. These properties have created a huge demand in the global terahertz and infrared spectroscopy market in the last few years.
Rising food safety concerns and growing demand in the semiconductor industry to aid global market growth
THz spectroscopy is used extensively in the food sector as it helps in providing the qualitative and quantitative details of food samples like the presence of foreign bodies, moisture detection, and other inspection-related data. With the increasing demand for safe food across the globe, food product manufacturers have started using terahertz spectrometers during the food analysis process thus aiding the growth in the global terahertz and infrared spectroscopy market. The growing concern for safe food is correlated to the rising awareness in consumer groups about food safety, and the presence of multiple options in the market thus propelling competition.
The global market growth is also expected to be driven by the increasing manufacturing of semiconductors that are used in electric circuits because of the ability of THz spectrometry to quantify while also detecting charge carriers. With technological advancements, some of THz spectrometers can rapidly isolate semiconductor packages without destruction within a few hours.
High Cost of THz and IR spectrometers to restrain the global market growth
Terahertz and Infrared spectrometers used in the industrial application in the semiconductor industry are relatively higher which is expected to restrain the global market expansion. Even if bigger corporations can afford these technologies, it becomes difficult for small-scale semiconductor producers to buy new THz and IR spectrometers. The cost may vary depending on the application for the technology but generally given their advanced features, these spectrometers are quite expensive and the additional cost of their maintenance makes them out of reach of many potential users.
Rising demand in the healthcare sector may provide growth opportunities in the global market
One of the exponentially rising sectors in the healthcare industry which uses terahertz and infrared spectrometers for its research activities is anticipated to provide lucrative growth opportunities in the global terahertz and infrared spectroscopy market. There is a shift in preference for using THz spectrometry in biomedical analysis, which has recently taken a high jump owing to Covid-19. This is coupled with ongoing investigation to learn about the application of THz and IR spectrometers for protein characterization along with cancer detection and quality control in the pharmaceutical sector. The cancer detection segment has potential growth opportunities since THz spectroscopy is a non-invasive and non-ionizing technology and is harmless.
Lack of affordability in emerging economies poses challenges to global market expansion
Given the high cost of new equipment used in Terahertz and Infrared spectroscopy along with their expensive maintenance, the adoption of these technologies may become difficult for potential consumers in emerging economies. There are insufficient manufacturers of IR and THz spectrometers in many regions, which propels domestic consumers to import these technologies thus reducing their cost-effectiveness and increasing hesitancy for their adoption. IR spectrometers do not last more than 5-7 years propelling the need to buy new equipment since the resale ones are not as effective as expected which may create challenges for global market expansion.
The global terahertz and infrared spectroscopy market is segmented based on Technology, Spectrum, End Use, Application, and region.
Based on Technology, the global terahertz and infrared spectroscopy market is divided into Microscopy, Benchtop, Hyphenated, and Portable & Handheld.
On the basis of Spectrum, the global terahertz and infrared spectroscopy market is bifurcated into Near-Infrared Radiation, Far-Infrared Radiation, and Mid-Infrared Radiation.
By End Use, the global terahertz and infrared spectroscopy market is split into Industrial Chemistry, Food & Beverage Testing, Environmental Testing, and Pharmaceuticals & Biotechnology).
In terms of Application, the global terahertz and infrared spectroscopy market is categorized into Homeland Security, Semiconductors, Biomedical Research & Development, and Non-Destructive Testing.
Report Attributes | Report Details |
---|---|
Report Name | Terahertz and Infrared Spectroscopy Market |
Market Size in 2024 | USD 1467.8 Million |
Market Forecast in 2034 | USD 2544.14 Million |
Growth Rate | CAGR of 5.8% |
Number of Pages | 250 |
Key Companies Covered | 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, Menlo Systems GmbH.,, and others. |
Segments Covered | By Technology, By Spectrum, By End Use, By Application, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2023 |
Forecast Year | 2025 - 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Asia-Pacific to register the highest CAGR during the forecast period
The terahertz and infrared spectroscopy market is expected to be dominated by Asia-Pacific in the coming years because of government policies to attract foreign investors along with the presence of skilled labor and the availability of sufficient space to set up manufacturing units. The regional growth is projected to be propelled by various strategic mergers, acquisitions, and tie-ups across industries which is aided by the presence of extreme growth potential in regions like China, India, Taiwan, and Singapore.
North America may contribute significantly to the global market owing to a higher rate of adoption of advanced technologies along with the presence of dominant players with better spending capabilities and stringent regulation in the food & beverage industry.
The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the terahertz and infrared spectroscopy market on a global and regional basis.
The global terahertz and infrared spectroscopy market is dominated by players like:
By Technology
By Spectrum
By End Use
By Application
By Region
FrequentlyAsked Questions
Terahertz and infrared spectroscopy are techniques used to study materials by analyzing how they absorb or emit light in the terahertz and infrared regions of the electromagnetic spectrum. They help identify molecular structures, chemical compositions, and physical properties.
The global terahertz and infrared spectroscopy market is expected to grow due to rising applications in material analysis, pharmaceutical quality control, and growing demand for security and defense technologies.
According to a study, the global terahertz and infrared spectroscopy market size was worth around USD 1467.8 Million in 2024 and is expected to reach USD 2544.14 Million by 2034.
The global terahertz and infrared spectroscopy market is expected to grow at a CAGR of 5.8% during the forecast period.
North America & Europe is expected to dominate the terahertz and infrared spectroscopy market over the forecast period.
Leading players in the global terahertz and infrared spectroscopy market include 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, Menlo Systems GmbH.,, among others.
The report explores crucial aspects of the terahertz and infrared spectroscopy market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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