(PharmaNewsWire.Com, May 29, 2021 ) The report "Infrared and Terahertz Spectroscopy Market by Instrument Type (Benchtop Instruments, Microscopy Instruments, Portable Instruments, Hyphenated Instruments), Spectrum, Application - Global Forecast to 2025", 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.
Growth Opportunities Growing opportunities in emerging nations;
As compared to mature markets such as the US and Europe, emerging markets such as China and India are expected to provide significant growth opportunities for players operating in this market. Huge demand for spectroscopy is generated from China and India due to the Greenfield projects set up in various end-user industries in these countries. The life sciences industry in this region is also quite robust and is expected to contribute significantly to the growth of the infrared spectroscopy market in the coming years.
The mid-infrared radiation segment to hold the largest market share in 2020.
Based on spectrum, 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, 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. Technologicala dvancements in the growing semiconductor industry is the major factor riving the growth of this segment.
Based on region, the Infrared and 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.
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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