(PharmaNewsWire.Com, February 10, 2021 ) Major Growth Boosting Factors: Growth in the infrared spectroscopy 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.
Growth in the terahertz spectroscopy market can primarily be attributed to factors such as increasing applications of terahertz spectroscopy as a screening technique in homeland security, growing semiconductor industry and technological advancements.
Revenue Growth Opportunities: 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
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.
Recent Developments:
# In 2020, Bruker Corporation Launched the OMEGA 5 FTIR Gas Analyzer. The OMEGA 5 is designed for applications like process monitoring, the investigation of catalytic processes, or the determination of gas impurities
# In 2020, Advantest Corporation (Japan) Launched the Time-Domain Reflectometry (TDR) option for its TS9001 system.
# In 2019, PerkinElmer (US) acquired China based Meizheng group to expand its portfolio for the grain and milling, dairy, meat, and seafood markets
Terahertz spectroscopy is widely used for developing and testing semiconductor materials and for detecting faults in circuits. The ability to detect and quantify charge carriers is expected to create avenues for using the terahertz technology in semiconductors. In recent years, advanced terahertz spectrometers have enabled the non-destructive rapid isolation of semiconductor packages within a few hours. The growing semiconductor industry, coupled with the rising usage of terahertz spectroscopy in semiconductor applications, is expected to drive the growth of this market in the coming years.
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
Based on the 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 infrared & terahertz spectroscopy market is segmented into North America, Asia-Pacific, Europe and Rest of the world(RoW). Asia Pacific is expected to register the highest CAGR 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.
Global Leaders:
The prominent players in the global infrared spectroscopy market include PerkinElmer (US), Bruker Corporation (US) Shimadzu Corporation (US), Thermo Fisher Scientiific (US), Agilent Technologies (US). And the major players in the terahertz spectroscopy market include TeraView Ltd (UK), Advantest Corporation (Japan), Menlo Systems GmbH (Germany, Toptica Photonix AG (Germany).
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