Terahertz and Infrared Spectroscopy Market Size, Share, and Industry Analysis By Product (Terahertz and Infrared (FT-IR, FT-NIR, and Others)), By Application (Pharmaceutical Manufacturing and Research & Discovery), By End-user (Pharmaceutical & Biotechnology Companies, CROs & CMOs and Others), and Regional Forecast till 2032

The global terahertz and infrared spectroscopy market is expected significantly as new spectroscopic technology developments have expanded their industrial deployment in pharmaceuticals and semiconductor and food safe sectors. Terahertz and Infrared Spectroscopy operate as spectroscopic methods that analyze material properties through signals of electromagnetic frequencies suited for examining molecular processes. The market advances due to better data processing capabilities alongside improved detector sensitivity and enhanced radiation sources which enable these technologies to operate more efficiently and become more available. Taxpayer-funded research in North America accounts for 25,580 research institutes that make use of terahertz (THz) and infrared (IR) spectroscopy according to the National Institute of Standards and Technology (U.S.).

Terahertz and Infrared Spectroscopy Market Driver

Technological Advancements and Cross-Industry Applications to Drive THz and IR Spectroscopy Market Growth

Advanced data processing systems combined with better detector sensitivity coupled with newly developed radiation sources have increased the efficiency of THz and IR spectroscopy systems which fuels market expansion. The implementation of these technologies occurs widely in semiconductors for material analysis together with pharmaceuticals for compound understanding and food safety for quality management. The North American spectroscopy device manufacturer base amounts to 34,225 certified entities due to market demand for these instruments according to National Institute of Standards and Technology, U.S. The broad spectrum of applications for THz and IR spectroscopy reveals their critical value since these technologies are used in 25,580 research institutes throughout the world according to National Institute of Standards and Technology, U.S.

Terahertz and Infrared Spectroscopy Market Restraint

High Equipment Costs and Technical Complexity Restrict Broader Adoption of THz and IR Spectroscopy

The advanced character of THz and IR spectroscopy instruments demands expensive purchase costs and maintenance expenses that might deter small to medium businesses from acquiring these technologies. Widespread adoption of spectroscopy data analysis faces challenges as its operation and interpretation needs specialized expertise. A single analysis of European Commission’s Community Research and Development Information Service shows that only 22,350 public laboratories throughout North America operate with FTIR or THz spectrometers. The technical aspects of spectroscopy manifest through scarce training programs as only 36,989 government-supported programs exist in North America.

Terahertz and Infrared Spectroscopy Market Opportunity

Expanding Medical and Food Safety Applications Along With Portable Devices to Unlock Growth in THz and IR Spectroscopy Market

The medical industry can benefit from THz spectroscopy through early cancer detection which provides excellent growth prospects. The increase in food quality concerns leads to the growth of IR spectroscopy applications in food safety testing. Spectroscopy technologies continue to gain importance as North American laboratories perform 25,272 annual calibration checks according to the National Institute of Standards and Technology, U.S. The market potential increases as portable spectroscopy devices provide improved functionality for conducting analysis anywhere.

Segmentation

Key Insights

The report covers the following key insights:

• Key Industry Trends
• Market Drivers & Restraints
• Key Industry Developments
• Regulatory Scenario across Key Countries

Analysis by Product

By Product, the Terahertz and Infrared Spectroscopy Market is divided into Terahertz, Infrared, FT-IR, FT-NIR & Others. 

The Infrared segment leads the market as it finds numerous applications in pharmaceutical and food safety industries. The segment's expansion occurs due to developing portable testing tools and rising regulatory norms which demand better quality control.

Analysis by Application

By Application, the Terahertz and Infrared Spectroscopy Market is divided into Pharmaceutical Manufacturing, Research & Discovery. 

The pharmaceutical manufacturing sector will steer the market due to its strict regulatory criteria and the necessity to utilize exact analysis tools. Spectroscopy research projects funded by the North American government total 7,429 due to their pharmaceutical application focus as per the Department of Science and Technology, India.

Analysis by End-user

By End-user, the Terahertz and Infrared Spectroscopy Market is divided into Pharmaceutical & Biotechnology Companies, CROs & CMOs & Others. 

Pharmaceutical and Biotechnology Companies will control the market due to their significant research and development funding together with their leadership position in the industry.

Regional Analysis

Based on geography, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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The North American market will reign over the Terahertz and Infrared Spectroscopy Market throughout the forecast period based on its powerful research capabilities and developed industrial framework and extensive implementation of sophisticated spectroscopic instruments. Healthcare and semiconductor industries in this region receive considerable investments through THz and IR spectroscopy for their material characterization needs and their pharmaceutical analysis and quality control operations. Research from the National Institute of Standards and Technology (U.S.) shows that 25,580 research institutes across North America use THz and IR spectroscopy technologies thus reflecting their broad acceptance. The certified spectroscopy instrument manufacturer base of 34,225 enterprises demonstrates that the market leadership position belongs to this region. The Department of Science and Technology in India supports spectroscopy research projects amounting to 7,429 through dedicated funding programs that mainly concentrate on pharmaceuticals and material science developments. Multiple spectroscopy systems in North America undergo 25,272 calibration checks throughout the year as these technologies maintain strict standards throughout diverse business sectors.

The European market for Terahertz and Infrared Spectroscopy continues to grow as the strict regulatory environment meets with ongoing technological progress. The pharmaceutical and food safety sectors in Germany and the U.K. and France lead the world in adopting modern spectroscopic technologies since quality standards within these domains remain mandatory for compliance. The annual spectroscopy patent registration total in this region amounts to 29,843 according to European Commission’s Community Research and Development Information Service. There exists a substantial institutional adoption of FTIR or THz spectrometers in European public laboratories that number 15,464. Through national support programs government allocates funds to provide 10,792 training courses in spectroscopy which develop skilled personnel able to work with and interpret sophisticated spectroscopic data of National Institute of Standards and Technology. THz and IR spectroscopy maintain their position as primary markets in Europe due to major manufacturer involvement and research institutions operating in the region.

The Asia Pacific territory will display the fastest expansion due to its quick industrial growth and expanding government science funding coupled with the development of key application sectors like electronics and pharmaceuticals and food processing. The spectroscopy techniques thrive in China and India together with Japan due to their advancing demand for sophisticated analytical tools where currently 18,652 research institutes apply THz and IR spectroscopy as per the Department of Science and Technology, India. The Government implements crucial initiatives through 40,234 funded spectroscopy research projects which seek to boost technological capabilities according to European Commission’s Community Research and Development Information Service. The region maintains 16,703 certified manufacturers that produce spectroscopy instruments to satisfy increasing domestic production requirements. Public universities throughout Asia Pacific have dedicated 48,430 spectroscopy systems to research initiatives which demonstrates their commitment to industrial and academic exploration of National Institute of Standards and Technology, U.S. The Asia Pacific market shows promising growth potential due to rising awareness combined with improving infrastructure which makes this market fundamental for future Terahertz and Infrared Spectroscopy Market development.

Key Players Covered

The report includes the profiles of the following key players:

• ADVANTEST CORPORATION (Japan)
• Thermo Fisher Scientific Inc. (U.S.)
• Agilent Technologies, Inc. (U.S.)
• PerkinElmer Inc. (U.S.)
• Shimadzu Corporation (Japan)
• Luna Innovations Incorporated (U.S.)
• TeraView Limited. (U.K.)
• TOPTICA Photonics AG (Germany)
• HÜBNER GmbH and Co. KG (Germany)

Key Industry Developments

• In October 2020, Bruker Corporation brought forth its OMEGA 5 FTIR Gas Analyzer to improve IR spectroscopy applications for gas analysis.
• In October 2020, The TS9001 system from Advantest Corporation received an upgrade through its Time-Domain Reflectometry add-on that extended THz spectroscopy applications for semiconductor testing.
• In December 2019, The acquisition of China-based Meizheng Group by PerkinElmer added food safety analysis capabilities to their spectroscopy product range.