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The Business Research Company's Infrared And Terahertz Spectroscopy Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, February 25, 2025 /EINPresswire.com/ -- Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
The Infrared And Terahertz Spectroscopy market has experienced substantial growth in recent years, with the market size expanding from $1.33 billion in 2024 to an expected $1.44 billion in 2025. This trend represents a compound annual growth rate CAGR of 8.5%. Key factors contributing to this expansion include population increase, surges in government investments, heightened demand for airport security, and a broadened focus on food safety.
Where Is The Infrared And Terahertz Spectroscopy Market Heading?
The enthusiasm surrounding the infrared and terahertz spectroscopy market is unlikely to subside, as projections indicate a robust growth trajectory for the coming years. Experts predict the market size will flourish, reaching $1.97 billion in 2029, a growth showing a compound annual growth rate CAGR of 8.1%. This anticipated expansion is primarily attributed to increased government funding for scientific research, heightened use in cultural heritage preservation, increasing demand for spectroscopy in cosmetics, growing popularity of portable and handheld spectrometers, and rising demand for spectroscopy in biotechnology. Major trends expected to shape the market landscape include technological advancements, AI and machine learning integration, IoT pairing, and the emergence of hybrid spectroscopy systems.
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What Are The Primary Growth Drivers Of The Infrared And Terahertz Spectroscopy Market?
Breast cancer, a malignant condition that initiates in the cells of the breast, is expected to be a significant market influencer. The increasing prevalence of this cancer can be attributed to an aging population, genetic predisposition, hormonal influences, unhealthy lifestyles, environmental exposures, and improved detection methods. Infrared and terahertz spectroscopy play a vital role in breast cancer early detection and tumor monitoring, thus, the rising breast cancer cases underpin the market's growth. Case in point, the US-based National Center for Biotechnology Information projected, in September 2022, a 40% rise in diagnosed breast cancer cases by 2040, reaching approximately 3 million. Therefore, the expanding incidence of breast cancer is anticipated to thrust the infrared and terahertz spectroscopy market forward.
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Who Are The Major Players In The Infrared And Terahertz Spectroscopy Market?
Key industry players in the market include 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., and Science Tech Inc. These industry stalwarts are making substantial strides in core and emerging segments of the market.
What Key Trends Are Shaping The Infrared And Terahertz Spectroscopy Market?
In the bid to meet growing demand for accurate, reliable, and cost-effective analytical solutions across various sectors including pharmaceuticals, environmental monitoring, material science, and food quality control, these major industry players are focusing on developing innovative high-performance benchtop FTIR Fourier Transform Infrared instruments. For instance, in March 2023, Edinburgh Instruments, a Scotland-based manufacturer of molecular spectroscopy products, launched the IR5 FTIR Spectrometer, a user-friendly instrument equipped with modern software facilitating all aspects of the experimental process.
How Is The Infrared And Terahertz Spectroscopy Market Segmented?
- By Type: Near-Infrared Radiation, Mid-Infrared Radiation, Far-Infrared Radiation
- By Technology: Benchtop, Microscopy, Portable, And Handheld, Hyphenated
- By Application: Semiconductors, Homeland Security, Non-Destructive Testing, Research And Development Biomedical
- By End User: Pharmaceuticals And Biotechnology, Industrial Chemistry, Food And Beverage Testing, Environmental Testing, Other End-Users
Which Region Dominates The Infrared And Terahertz Spectroscopy Market?
Asia-Pacific was the largest region in the infrared and terahertz spectroscopy market in 2024. In addition to Asia-Pacific, the report also scrutinizes other regions including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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