Infrared & Terahertz Spectroscopy Market by Instrument Type, Spectrum and Application - Global Forecast to 2025 - ResearchAndMarkets.com

The "Infrared & Terahertz Spectroscopy Market by Instrument Type (Benchtop Instruments, Microscopy Instruments, Portable Instruments, Hyphenated Instruments), Spectrum, Application - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

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.

Growth in the 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 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. Growth in the market can primarily be attributed to factors such as increasing applications of terahertz spectroscopy as a screening technique in homeland security, the growing semiconductor industry, and technological advancements.

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

Based on instrument type, the infrared spectroscopy market is segmented into benchtop instruments, portable instruments, microscopy instruments and hyphenated instruments. In 2020, the benchtop instruments segment is expected to command the largest share of the infrared spectroscopy market. The large share of this segment can be attributed to the advantages offered by benchtop instruments such as improved workflow, minimum space requirements, and fewer maintenance requirements

The pharmaceutical and biotechnology applications segment to hold the largest market share in 2020.

Based on the applications, the infrared spectroscopy market is segmented into food & beverage testing, pharmaceutical & biotechnology applications, industrial chemistry applications, environmental testing, and other applications (academic applications, forensic applications, biomonitoring, and agricultural applications). In 2020, the pharmaceutical and biotechnology applications segment to command the largest share of the infrared spectroscopy market. The large share of this segment can be attributed to the stringent regulations in the pharmaceutical industry.

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

Based on spectrum, the infrared spectroscopy market is 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 terahertz spectroscopy market. Technological advancements in the growing semiconductor industry is the major factor driving the growth of this segment.

The Asia Pacific region to witness the highest growth during the forecast period.

Geographically, North America dominated the global infrared & terahertz spectroscopy market in 2020. However, the Asia Pacific market is expected to register the highest 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.

Market Dynamics

Terahertz Spectroscopy

Drivers

• Increasing Applications of Terahertz Spectroscopy as a Screening Technique for Homeland Security
• Growing Semiconductor Industry
• Technological Advancements

Restraints

• High Equipment Costs

Opportunities

• Potential Applications of Terahertz Spectroscopy in Healthcare

Infrared Spectroscopy

Drivers

• Stringent Regulations in the Pharmaceutical Industry
• Growing Food Safety Concerns
• Increasing Government Investments in Infrared Spectroscopy Technologies
• Technological Advancements

Restraints

• Technical Limitations of Ir Spectroscopy
• Availability of Used Ir Devices

Opportunities

• Growing Opportunities in Emerging Nations
• Adoption of Nir Spectroscopy in Seed Detection
• Growing Proteomics Market

Companies Mentioned

• Advanced Photonix, Inc.
• Advantest Corporation
• Agilent Technologies, Inc.
• Batop Gmbh
• Bayspec Inc.
• Bruker Corporation
• Ekspla
• Foss
• Horiba Ltd.
• Hubner Gmbh
• Jasco, Inc.
• Menlo Systems Gmbh
• Microtech Instruments Inc.
• Perkinelmer, Inc.
• Shimadzu Corporation
• Spectra Analysis Instruments Inc.
• Teledyne Princeton Instruments
• Teraview Ltd.
• Thermo Fisher Scientific, Inc.
• Toptica Photonix Ag

For more information about this report visit https://www.researchandmarkets.com/r/d5cvow

View source version on businesswire.com: https://www.businesswire.com/news/home/20210122005180/en/