Terahertz Spectroscopy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
- Transparency Market Research
- Medical Imaging
Terahertz light lies sandwiched between the infrared and microwave parts of the electromagnetic spectrum. Terahertz finds application across an array of industries as it is safe, non-destructive, and fast. These properties makes it apt for inspection and imaging modalities. In recent years, wide ranging of terahertz spectroscopy has been witnessed across various industries due to its unparalleled sensing ability and its noninvasive and nonionizing properties.
Terahertz light showcases the potential to save lives, improve security, maintain food and drug standards, and make industry more efficient. Hence, it finds applications in non-invasive medical and dental diagnostics, characterization of electron carriers and metamaterials, drug discovery and formulation analysis of coatings and cores, homeland security and defense to detect and identify hidden explosives materials, screening people to detect metallic and non-metallic objects through clothing and other materials, investigation of contents of envelopes and paper packages without opening them, and detection of noxious or dangerous gases such as hydrogen cyanide and ammonia. It is also used in the photovoltaic (PV) industry for detection and imaging of cracks and defects buried in silicon, as well as for inspection and quality control of coatings used on crucibles for production. In the semiconductor industry, it enables high resolution fault isolation in advanced semiconductor packages and 3D imaging in integrated circuit devices.
The terahertz spectroscopy market is expected to witness double-digit expansion in the coming years. This can be attributed to factors such as technological advancements, favorable investments, funds and grants by government bodies worldwide, rising food safety concerns, increasing applications of terahertz spectroscopy as a screening technique in homeland security industry, its demonstrated potential in monitoring the quality of pharmaceutical drugs, and its use in the medical imaging of cancer and high value coatings used in automotive and other industries.
Regulatory bodies across industries have put forth various safety regulations (for instance, new international CGMP & CGDP certification for pharmaceutical excipients) to ensure quality specifications compliance, especially when new products are launched in the market. Terahertz spectroscopy technologies facilitate compliance with these regulations by allowing monitoring and measurement of samples. This is another pivotal factor that is likely to bolster demand for terahertz spectroscopy in the coming years.
In terms of application, the terahertz spectroscopy market can be divided into pharmaceutical industry (crystalline structure analysis of drugs, solid dosage-forms analysis of tablets, in-line measurement, and control of tablet coating thickness), medical imaging (oncology - detection of skin, mouth and epithelial cancers, and oral health care applications), homeland security (explosives and materials characterization, detection of noxious gases, personnel screening, mail screening), semiconductor industry, nondestructive evaluation/testing, material characterization, and solar industry.
Based on geography, the report on the terahertz spectroscopy market provides granular insights on North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Key players operating in the global the terahertz spectroscopy market are TeraView, Ltd. (U.S.), Menlo Systems GmbH (Germany), Advanced Photonix, Inc. (U.S.), Toptica Photonix AG (Germany), Advantest Corporation (Japan), among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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