Terahertz and Infrared Spectroscopy Market Set for Rapid Growth and Latest Trend

Infrared & Terahertz Spectroscopy Market

MarketsandMarkets Research Report’s View on Revenue Impact?

The Infrared Spectroscopy Market is expected to reach USD 1.3 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 5.2% during the forecast period.

The Terahertz Spectroscopy Market is expected to reach USD 45 million by 2025 from USD 30 million in 2020, at a CAGR of 8.3% during the forecast period

Factors Responsible for Growth and In-Depth Analysis?

The Growth in the Infrared and Terahertz Spectroscopy Market can primarily be attributed to factors such as stringent regulations in the pharmaceutical industry, growing food safety concerns, increasing government in Infrared technologies and technological advancements in the market. The factors such as increasing applications of terahertz spectroscopy as a screening technique in homeland security, growing semiconductor industry and technological advancements.

Recent Developments in Infrared and Terahertz Spectroscopy Market:

– In 2020, Bruker Corporation Launched the OMEGA 5 FTIR Gas Analyzer. The OMEGA 5 is designed for applications like process monitoring, the investigation of catalytic processes, or the determination of gas impurities

– In 2020, Advantest Corporation (Japan) Launched the Time-Domain Reflectometry (TDR) option for its TS9001 system.

– In 2019, PerkinElmer (US) acquired China based Meizheng group to expand its portfolio for the grain and milling, dairy, meat, and seafood markets

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Infrared and Terahertz Spectroscopy Market
Infrared and Terahertz Spectroscopy Market

Leading Key Players and Analysis:

The prominent players in the global infrared spectroscopy market include PerkinElmer (US), Bruker Corporation (US) Shimadzu Corporation (US), Thermo Fisher Scientiific (US), Agilent Technologies (US). And the major players in the terahertz spectroscopy market include TeraView Ltd (UK), Advantest Corporation (Japan), Menlo Systems GmbH (Germany, Toptica Photonix AG (Germany).

Perkinelmer (US) is one of the the leading players in the global infrared spectroscopy market. The firm designs and manufactures products for the life science and pharmaceutical industries as well as for various applications, such as biotechnological applications, clinical and molecular diagnostics research, materials and chemical analysis, and government applications. The firm offers a wide range of products based on infrared spectroscopy technologies. In 2020, the company launched the DA 7350 Spectroscopy Instrument and Process Plus Cloud-based Software based on the NIR technology to provide continuous quality control for food and food ingredient manufacturing processes.

Geographical Analysis in Detailed?

The infrared and terahertz spectroscopy market is segmented into North America, Asia-Pacific, Europe and Rest of the world(RoW). Asia Pacific is expected to register the highest CAGR during the forecast period. . The major factors driving the growth of the Asia Pacific market include strategic expansions by key players, increasing food safety concerns, and adoption of technologically advanced products.

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Infrared and Terahertz Spectroscopy Market Segmentation:

The mid-infrared radiation segment to hold the largest market share in 2020.

Based on spectrum, segmented into mid-infrared radiation, near-infrared radiation and far-infrared radiation. In 2020, the mid-infrared radiation segment is expected to command the largest share of the infrared spectroscopy market. The increase in the number of healthcare and pharmaceuticals applications and extensive usage in the food industry are driving the growth of this segment.

The semiconductor segment to hold the largest market share in 2020.

Based on application, the terahertz spectroscopy market is segmented into semiconductor, homeland security, non-destructive testing and research & development. In 2020, the semiconductor segment is expected to command the largest share of the market. Technological advancements in the growing semiconductor industry is the major factor riving the growth of this segment.

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