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Impact Of Increasing Breast Cancer Cases On The Market: A Key Driver Powering Infrared And Terahertz Spectroscopy Market Growth In 2025
Infrared And Terahertz Spectroscopy
What Is the Current Infrared And Terahertz Spectroscopy Market Size and Its Estimated Growth Rate?
The market for infrared and terahertz spectroscopy has seen substantial expansion in recent times. The market size is forecasted to increase from $1.33 billion in 2024 to $1.44 billion in 2025, with an impressive compound annual growth rate (CAGR) of 8.5%. Factors contributing to this growth during the historic period include population increase, heightened government investments, greater airport security demand, and growing concerns regarding food safety.
Robust expansion is anticipated in the infrared & terahertz spectroscopy market in the TH*Coming years, escalating to a market worth $1.97 billion in 2029 with a compound annual growth rate (CAGR) of 8.1%. Key contributing factors for this growth over the forecast period include augmented government investments in scientific exploration, heightened use in conserving cultural heritage, proliferating need for spectroscopy in the cosmetics sector, the increasing preference for portable and handheld spectrometers, and a surge in demand within the biotechnology realm. The forecast period is also expected to witness significant trends such as technological innovations, the incorporation of AI and machine learning, integration with Internet of Things (IoT), and the development of hybrid spectroscopy systems.
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How Are Emerging Segments Shaping the Infrared And Terahertz Spectroscopy Market Landscape?
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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Which Growth Factors Are Influencing Infrared And Terahertz Spectroscopy Market Expansion?
The growth of the infrared and terahertz spectroscopy market is anticipated to be driven by the rising incidence of breast cancer. This type of cancer originates in the cells of the breast and its increasing occurrence can be traced back to factors such as an aging population, genetic predisposition, the influence of hormones, unhealthy lifestyles, environmental exposures, and advancements in detection methods. Infrared and terahertz spectroscopy play a vital role in breast cancer by aiding in the early detection and tracking of tumors through tissue property analysis. As an illustration, the National Center for Biotechnology Information, a US government agency, stated in September 2022 that by 2040, there would be a over 40% increase in the annual number of new breast cancer diagnoses, amounting to nearly 3 million. Consequently, the rise in incidences of breast cancer propels the expansion of the infrared and terahertz spectroscopy market.
Who Are the Dominant Players Across Different Infrared And Terahertz Spectroscopy Market Segments?
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 Latest Developing Trends in the Acne Treatment Devices Market?
Leading firms in the infrared and terahertz spectroscopy market are honing their focus on the creation of superior quality benchtop FTIR products with innovative features. Their goal is to cater to the increasing need for dependable, precision-oriented, and budget-friendly analytical tools in several sectors, including pharmaceuticals, environmental surveillance, material sciences, and food quality checking. High-level benchtop FTIR (Fourier Transform Infrared) devices are technologically enhanced, compact spectrometers used for evaluating the infrared spectrum of materials. Take for example, Edinburgh Instruments, a Scotland-based company that specializes in the production of molecular spectroscopy items, unveiled their IR5 FTIR Spectrometer in March 2023. This device is built to be user-friendly for all proficiency levels, from novices to experienced researchers and boasts a moisture control feature that doesn't require any upkeep. The IR5 comes with state-of-the-art software created explicitly for its functionality. This tool named, Miracle, assists users in every phase of the experiment, from preparation to data interpretation and documentation.
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Which Geographic Regions Are Expected to Dominate the Infrared And Terahertz Spectroscopy Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Infrared And Terahertz Spectroscopy Market?
2. What is the CAGR expected in the Infrared And Terahertz Spectroscopy Market?
3. What Are the Key Innovations Transforming the Infrared And Terahertz Spectroscopy Industry?
4. Which Region Is Leading the Infrared And Terahertz Spectroscopy Market?
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