Major Market Shift in Infrared And Terahertz Spectroscopy Industry: Impact Of Increasing Breast Cancer Cases On The Market

What Is the Forecasted Market Size and Growth Rate for the Infrared And Terahertz Spectroscopy Market?
In recent years, the market size of infrared and terahertz spectroscopy has significantly expanded. The market is expected to surge from $1.33 billion in 2024 to $1.44 billion in 2025, escalating at a compound annual growth rate (CAGR) of 8.5%. The historical period's growth is due to factors such as an increase in population, augmentation in government investments, enhanced airport security demand, and heightened concern for food safety.

The market size for infrared & terahertz spectroscopy is projected to experience robust growth in the coming years, anticipating a rise to $1.97 billion in 2029 at an 8.1% compound annual growth rate (CAGR). The growth projected for this period can be attributed to factors like heightened government investment in scientific research, increased use of spectroscopy in cultural heritage preservation, the escalating demand in cosmetics, the rise in interest for portable and handheld spectrometers, and the growing requirement for it in biotechnology. The full forecast period will witness major trends, including technological progression, the incorporation of AI and machine learning, integration with IoT, and the existence of hybrid spectroscopy systems.

What Factors Are Propelling the Expansion of the Infrared And Terahertz Spectroscopy Market?
The rise in breast cancer cases is anticipated to fuel the expansion of the infrared and terahertz spectroscopy market. Breast cancer denotes a cancer type that originates in breast cells. The escalating incidence of breast cancer can be accredited to causes like a growing aged population, genetic tendencies, hormonal factors, unhealthy living habits, environmental exposures, and enhanced detection techniques. Infrared and terahertz spectroscopy prove useful in combating breast cancer as they aid in timely detection and surveillance of tumors by examining tissue properties. For example, the National Center for Biotechnology Information, a US government entity, reported in September 2022 that the yearly count of newly identified breast cancer cases is predicted to surge by over 40% by 2040, hitting around 3 million. Thus, the growing occurrence of breast cancer spurs the infrared and terahertz spectroscopy market.

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Which Businesses Are at the Forefront of Infrared And Terahertz Spectroscopy Market Development?
Major companies operating in the infrared and terahertz spectroscopy market are Hamamatsu Photonics K.K., Thermo Fisher Scientific Inc., Boston Electronics Corporation, Agilent Technologies Inc., Advantest Corporation, PerkinElmer Holdings Inc., Shimadzu Corporation, Bruker Corporation, Horiba Ltd., HÜBNER GmbH & Co. KG, Novanta Inc., TOPTICA Photonics AG, Luna Innovations Inc., JASCO Corporation, Menlo Systems GmbH, TeraView Limited, Spectra Quest Lab Inc., TERASENSE GROUP INC., QMC Instruments Ltd., Applied Research & Photonics Inc., Zomega Terahertz Corporation, Blue Sky Spectroscopy Inc., Science Tech Inc.

What Are the Emerging Trends in the Infrared And Terahertz Spectroscopy Industry?
Prominent companies in the infrared and terahertz spectroscopy market are concentrating on creating novel high-performance benchtop FTIR devices to satisfy the escalating need for accurate, trustworthy, and cost-efficient analytical solutions in numerous sectors, like pharmaceuticals, environmental surveillance, materials science, and food quality regulation. High Performance benchtop FTIR (Fourier Transform Infrared) instruments are advanced, condensed spectroscopes used to analyze the infrared spectrum of materials. For illustration, Edinburgh Instruments, a company based in Scotland that produces molecular spectroscopy products, launched the IR5 FTIR Spectrometer in March 2023. This instrument is engineered for straightforward usage across all user levels, from novices to seasoned researchers. It employs moisture control technology that is maintenance-free. The IR5 is fitted with contemporary software tailored specifically for its functionality. Miracle simplifies every phase of the experimental process, from arrangement to data scrutiny and reporting.

How Is the Infrared And Terahertz Spectroscopy Market Segmented?
The infrared and terahertz spectroscopy market covered in this report is segmented -

1) By Type: Near-Infrared Radiation, Mid-Infrared Radiation, Far-Infrared Radiation
2) By Technology: Benchtop, Microscopy, Portable And Handheld, Hyphenated
3) By Application: Semiconductors, Homeland Security, Non-Destructive Testing, Research And Development Biomedical
4) By End User: Pharmaceuticals And Biotechnology, Industrial Chemistry, Food And Beverage Testing, Environmental Testing, Other End-Users

Subsegments:
1) By Near-Infrared Radiation: Fourier Transform Near-Infrared (FT-NIR) Spectroscopy, Dispersive Near-Infrared (DNIR) Spectroscopy
2) By Mid-Infrared Radiation: Fourier Transform Mid-Infrared (FT-MIR) Spectroscopy, Tunable Diode Laser (TDL) Spectroscopy
3) By Far-Infrared Radiation: Terahertz Spectroscopy, Time-Domain Terahertz Spectroscopy, Frequency-Domain Terahertz Spectroscopy

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Where Is the Infrared And Terahertz Spectroscopy Market Growth Most Prominent?
Asia-Pacific was the largest region in the infrared and terahertz spectroscopy market in 2024. The regions covered in the infrared and terahertz spectroscopy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Infrared And Terahertz Spectroscopy Global Market Report?

- Market Size Analysis: Analyze the infrared and terahertz spectroscopy Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the infrared and terahertz spectroscopy Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall infrared and terahertz spectroscopy market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the infrared and terahertz spectroscopy market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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