The global infrared and terahertz spectroscopy market size was US$ 0.71 billion in 2021. The global infrared and terahertz spectroscopy market is expected to reach US$ 4.1 billion by 2030 registering a rate of compound annual growth (CAGR) of 19.1% over the forecast period from 2022 to 2030.
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Infrared spectroscopy indicates the process of interaction of infrared radiation with matter by emission, absorption or reflection. It is mainly used to study chemical compounds and functional groups in their solid, liquid and gaseous states. The concentration of various chemicals in various food products is also measured in the food sector using infrared spectroscopy. The process uses electromagnetic waves with frequencies ranging from a few hundred gigahertz to terahertz to measure and monitor the characteristics of materials.
Factors influencing the market
Terahertz spectroscopy is the process of detecting faults in circuits and studying the material. In addition, the rapidly growing semiconductor industry will also contribute to the growth of the infrared and terahertz spectroscopy market over the study period.
The wide range of applications of infrared spectroscopy in semiconductor microelectronics, such as gallium arsenide, zinc selenide, silicon, silicon nitride, etc., will also benefit the infrared spectroscopy market and terahertz during the analysis period. Apart from this, the growing demand for security control systems will increase the demand for infrared and terahertz spectroscopy as the technology is widely used in the manufacture of these systems. Security monitoring cameras are deployed in the defense sector to inspect flat objects, such as envelopes, letters and small packages. Thus, it will benefit the overall infrared and terahertz spectroscopy market.
The increasing technological advancements will also contribute to the growth of the market. For example, the HarleNIR near-infrared (NIR) hyperspectral viewing system was unveiled by SEA Vision in September 2018. HarleNIR is a next-generation blister test technology that goes beyond obvious testing and can perform the chemical analysis of pharmaceutical products. In addition, the technology is based on the Harlequin bulb control system.
On the other hand, the high cost of equipment may limit the growth of the infrared and terahertz spectroscopy market during the study period.
COVID-19 Impact Analysis
The COVID-19 pandemic has positively influenced the global infrared and terahertz spectroscopy market by increasing the pace of R&D activities. Due to the sudden outbreak of COVID-19, companies have started developing software that automatically measures tools. Thus, it has emerged as an opportunity for the infrared and terahertz spectroscopy market. However, the demand for raw materials has intensified as various countries have imposed import and export restrictions, causing a gap between supply and demand. Hence, this has hampered R&D activities for a significant period of time, which has hampered the growth of the Infrared and Terahertz Spectroscopy market.
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North America is expected to hold the largest market share due to increasing technological advancements and strengthening industrial infrastructure. Apart from this, the presence of key players and growing technology adoption will help drive the growth of this regional Infrared and Terahertz Spectroscopy market over the forecast period.
• Perkin Elmer Inc.
• Toptica Photonics
• Thermo Fisher Scientific Inc.
• TeraView Limited.
• Shimadzu Medical (India) Pvt. Lt
• Menlo system
• Agilent Technologies, Inc.
• PRE-TEST COMPANY
• Advanced Photonix
• Bio-Rad Laboratories, Inc.
• METTLER TOLEDO.
• Other top players
The global infrared and terahertz spectroscopy market segmentation focuses on spectrum, technology, application, end-user and region.
• Near infrared radiation (NIR)
• Mid-infrared radiation (MIR)
• Far Infrared Radiation (FIR)
• Portable and portable
• with hyphen
• Internal security
• Non-destructive testing
• Biomedical Research & Development
Per end user
• Pharmaceuticals and biotechnology
• Industrial chemistry
• Food and beverage testing
• Environmental tests
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● North America
o United States
o United Kingdom
o Rest of Western Europe
o Rest of Eastern Europe
o Australia and New Zealand
o Rest of Asia-Pacific
● Middle East and Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Rest of South America
What is the purpose of the report?
1.The market report presents the estimated market size at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size and market valuation.
The report presents current industry trends and future potential for North America, Asia-Pacific, Europe, Latin America, Middle East and Africa markets.
3.The report provides a comprehensive view of the market based on geographic scope, market segmentation, and financial performance of key players.
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