The Worldwide Infrared & Terahertz Spectroscopy Industry is Expected to Reach $1.3 Billion by 2025

DUBLIN, Jan. 25, 2021 /PRNewswire/ -- 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.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Infrared Spectroscopy Market Overview
4.2 Terahertz Spectroscopy Market Overview
4.3 North America: Infrared Spectroscopy Market, by Spectrum & Country (2019)
4.4 Infrared Spectroscopy Market Share, by Instrument Type, 2020 Vs. 2025
4.5 Infrared Spectroscopy Market, by Spectrum, 2020 Vs. 2025
4.6 Terahertz Spectroscopy Market, by Application, 2020 Vs. 2025

5 Market Overview
5.1 Terahertz Spectroscopy
5.1.1 Introduction
5.1.2 Drivers
5.1.2.1 Increasing Applications of Terahertz Spectroscopy as a Screening Technique for Homeland Security
5.1.2.2 Growing Semiconductor Industry
5.1.2.3 Technological Advancements
5.1.3 Restraints
5.1.3.1 High Equipment Costs
5.1.4 Opportunities
5.1.4.1 Potential Applications of Terahertz Spectroscopy in Healthcare
5.2 Infrared Spectroscopy
5.2.1 Introduction
5.2.2 Drivers
5.2.2.1 Stringent Regulations in the Pharmaceutical Industry
5.2.2.2 Growing Food Safety Concerns
5.2.2.3 Increasing Government Investments in Infrared Spectroscopy Technologies
5.2.2.4 Technological Advancements
5.2.3 Restraints
5.2.3.1 Technical Limitations of Ir Spectroscopy
5.2.3.2 Availability of Used Ir Devices
5.2.4 Opportunities
5.2.4.1 Growing Opportunities in Emerging Nations
5.2.4.2 Adoption of Nir Spectroscopy in Seed Detection
5.2.4.3 Growing Proteomics Market
5.3 Impact of COVID-19 on the Terahertz and Infrared Spectroscopy Market
5.4 Value Chain Analysis
5.4.1 Research & Product Development
5.4.2 Manufacturing & Assembly
5.4.3 Distribution, Marketing & Sales, and Post-Sales Services
5.5 Supply Chain Analysis
5.5.1 Prominent Companies
5.5.2 Small and Medium-Sized Enterprises
5.5.3 End-users
5.6 Regulatory Guidelines in the Terahertz and Infrared Spectroscopy Market
5.7 Average Selling Price Trend (Infrared Spectroscopy)
5.8 Porter's Five Forces Analysis (Infrared Spectroscopy)
5.8.1 Introduction
5.8.2 Bargaining Power of Buyers
5.8.3 Bargaining Power of Suppliers
5.8.4 Threat from New Entrants
5.8.5 Threat from Substitutes
5.8.6 Intensity of Competitive Rivalry

6 Infrared Spectroscopy Market, by Instrument Type
6.1 Introduction
6.1.1 Benchtop Instruments
6.1.1.1 Ease of Use and Convenience of Benchtop Instruments to Drive Their Demand
6.1.2 Microscopy Instruments
6.1.2.1 Emergence of Microscopy Instruments as Powerful Tools in Tissue Engineering to Drive Market Growth
6.1.3 Portable Instruments
6.1.3.1 Unique Applications Offered by Portable Spectrometers to Drive Market Growth
6.1.4 Hyphenated Instruments
6.1.4.1 Advancements in Hyphenated Spectrometers Have Widened the Applications of These Instruments in Various Industries

7 Infrared Spectroscopy Market, by Spectrum
7.1 Introduction
7.1.1 Near-Infrared Radiation (Nir)
7.1.1.1 Various Applications of Nir in Different Industries to Drive Market Growth
7.1.2 Mid-Infrared Radiation (Mir)
7.1.2.1 Growing Use of Mid-Infrared Radiation in the Food Industry to Drive Market Growth
7.1.3 Far-Infrared Radiation (Fir)
7.1.3.1 High Demand for Far-Infrared Technology in Healthcare & Pharmaceutical Applications to Drive Market Growth

8 Infrared Spectroscopy Market, by Application
8.1 Introduction
8.1.1 Pharmaceutical & Biotechnology Applications
8.1.1.1 Increasing Use of Infrared Spectroscopy in Different Pharmaceutical & Biotechnology Applications to Drive Growth
8.1.2 Industrial Chemistry Applications
8.1.2.1 Increasing Use of Infrared Spectroscopy in Determining the Molecular Structure of Compounds to Drive Market Growth
8.1.3 Food & Beverage Testing
8.1.3.1 Growing Use of Infrared Spectroscopy in Determining the Quality of Food Items and Beverages to Drive Market Growth
8.1.4 Environmental Testing
8.1.4.1 Growing Use of Infrared Spectroscopy Instruments to Analyze Toxic Compounds in the Environment to Drive Market Growth
8.1.5 Other Applications

9 Terahertz Spectroscopy Market, by Application
9.1 Introduction
9.2 Semiconductors
9.2.1 Increasing Technological Advancements to Drive the Market Growth
9.3 Homeland Security
9.3.1 Better Penetration Capabilities of Terahertz Spectroscopy to Drive Growth in Various Homeland Security Applications
9.4 Non-Destructive Testing
9.4.1 Increasing Use of Terahertz Spectroscopy as a Screening Technique to Drive Growth
9.5 Research & Development
9.5.1 Continuous Development in Biomedical Applications to Boost the Market

10 Terahertz and Infrared Spectroscopy Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Rest of the World (Row)

11 Competitive Landscape
11.1 Overview
11.1.1 Infrared Spectroscopy
11.1.1.1 Key Market Developments
11.1.1.1.1 Product Launches
11.1.1.1.2 Acquisitions
11.1.1.1.3 Partnerships, Collaborations, and Agreements
11.1.1.1.4 Expansions
11.1.2 Terahertz Spectroscopy
11.1.2.1 Key Market Developments
11.1.2.1.1 Product Launches
11.1.2.1.2 Acquisitions
11.1.2.1.3 Expansions
11.1.2.1.4 Partnerships & Collaborations

12 Competitive Evaluation Matrix and Company Profiles
12.1 Competitive Evaluation Matrix
12.2 Competitive Leadership Mapping: Major Market Players (2019)
12.2.1 Stars
12.2.2 Emerging Leaders
12.2.3 Emerging Companies
12.2.4 Pervasive Players
12.3 Start-Up Evaluation Matrix
12.3.1 Progressive Companies
12.3.2 Responsive Companies
12.3.3 Dynamic Companies
12.3.4 Starting Blocks
12.4 Company Profiles
12.4.1 Perkinelmer, Inc.
12.4.2 Bruker Corporation
12.4.3 Thermo Fisher Scientific, Inc.
12.4.4 Shimadzu Corporation
12.4.5 Agilent Technologies, Inc.
12.4.6 Horiba Ltd.
12.4.7 Foss
12.4.8 Jasco, Inc.
12.4.9 Bayspec Inc.
12.4.10 Spectra Analysis Instruments Inc.
12.4.11 Teledyne Princeton Instruments
12.4.12 Teraview Ltd.
12.4.13 Advantest Corporation
12.4.14 Menlo Systems Gmbh
12.4.15 Toptica Photonix Ag
12.4.16 Microtech Instruments Inc.
12.4.17 Batop Gmbh
12.4.18 Hubner Gmbh
12.4.19 Advanced Photonix, Inc.
12.4.20 Ekspla

13 Appendix
13.1 Discussion Guide: Terahertz Spectroscopy
13.2 Discussion Guide: Infrared Spectroscopy
13.3 Knowledge Store: The Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

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