Infrared & Terahertz Spectroscopy Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Infrared & Terahertz Spectroscopy Market Trends and Forecast

The future of the global infrared & terahertz spectroscopy market looks promising with opportunities in the pharmaceutical & biotechnology, industrial chemistry, food & beverage testing, and environmental testing end use industries. The global infrared & terahertz spectroscopy market is expected to reach an estimated $1.5 billion by 2028 with a CAGR of 5.1% from 2023 to 2028. The major drivers for this market are increasing strict regulations in the pharmaceutical industry, rise in food safety concerns across the globe, and growing investments by governments in infrared spectroscopy technologies.

Infrared & Terahertz Spectroscopy Market

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Infrared & Terahertz Spectroscopy Market by Segments

The study includes trends and forecast for the global infrared & terahertz spectroscopy market by type, spectrum, application, end use, and region, as follows:

Infrared & Terahertz Spectroscopy Market by Type [Value ($B) Shipment Analysis from 2017 to 2028]:

• Benchtop Instruments
• Microscopy Instruments
• Portable Instruments
• Hyphenated Instruments

Infrared & Terahertz Spectroscopy Market by Spectrum [Value ($B) Shipment Analysis from 2017 to 2028]:

• Mid-Infrared Radiation
• Near-Infrared Radiation
• Far-Infrared Radiation

Infrared & Terahertz Spectroscopy Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Research & Development Biomedical
• Semiconductors
• Homeland Security
• Non-Destructive Testing

Infrared & Terahertz Spectroscopy Market by End Use [Value ($B) Shipment Analysis from 2017 to 2028]:

• Pharmaceuticals & Biotechnology
• Industrial Chemistry
• Food & Beverage Testing
• Environmental Testing

Infrared & Terahertz Spectroscopy Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Infrared & Terahertz Spectroscopy Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, infrared & terahertz spectroscopy companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the infrared & terahertz spectroscopy companies profiled in this report include-

• Bruker Corporation
• Agilent Technologies
• Shimadzu Corporation
• PerkinElmer
• Thermo Fisher Scientific
• Teledyne Princeton Instruments
• JASCO
• TeraView
• Microtech Instruments
• Ekspla

Infrared & Terahertz Spectroscopy Market Insights

Lucintel forecasts that benchtop instruments will remain the largest type segment over the forecast period as these instruments are compact, less sensitive, affordable, and ensure faster analysis time along with improved workflow and fewer maintenance requirements.

Within this market, pharmaceuticals & biotechnology will remain the largest end use segment over the forecast period due to stringent regulations in the pharmaceutical industry and increasing usage of this spectroscopy as a powerful tool for advanced chemical and physical characterization of active pharmaceutical ingredients (APIs).

APAC is expected to witness the highest growth during the forecast period due to increasing adoption of technologically advanced products, growing food safety concerns, and strategic expansions by key players in the region.

Features of the Infrared & Terahertz Spectroscopy Market

• Market Size Estimates: Infrared & terahertz spectroscopy market size estimation in terms of value ($B)

• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

• Segmentation Analysis: Infrared & terahertz spectroscopy market size by various segments, such as by type, spectrum, application, end use, and region

• Regional Analysis: Infrared & terahertz spectroscopy markets breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

• Growth Opportunities: Analysis on growth opportunities in different types, spectrums, applications, end uses, and regions for the infrared & terahertz spectroscopy market.

• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the infrared & terahertz spectroscopy market.

• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the infrared & terahertz spectroscopy market size?

Answer: The global infrared & terahertz spectroscopy market is expected to reach an estimated $1.5 billion by 2028.

Q2. What is the growth forecast for infrared & terahertz spectroscopy market?

Answer: The global infrared & terahertz spectroscopy market is expected to grow with a CAGR of 5.1% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the infrared & terahertz spectroscopy market?

Answer: The major drivers for this market are increasing strict regulations in the pharmaceutical industry, rise in food safety concerns across the globe, and growing investments by governments in infrared spectroscopy technologies.

Q4. What are the major segments for infrared & terahertz spectroscopy market?

Answer: The future of the infrared & terahertz spectroscopy market looks promising with opportunities in the pharmaceutical & biotechnology, industrial chemistry, food & beverage testing, and environmental testing end use industries.

Q4. Who are the key infrared & terahertz spectroscopy companies?

Answer: Some of the key infrared & terahertz spectroscopy companies are as follows:

• Bruker Corporation
• Agilent Technologies
• Shimadzu Corporation
• PerkinElmer
• Thermo Fisher Scientific
• Teledyne Princeton Instruments
• JASCO
• TeraView
• Microtech Instruments
• Ekspla

Q6. Which infrared & terahertz spectroscopy segment will be the largest in future?

Answer:Lucintel forecasts that benchtop instruments will remain the largest type segment over the forecast period as these instruments are compact, less sensitive, affordable, and ensure faster analysis time along with improved workflow and fewer maintenance requirements.

Q7. In infrared & terahertz spectroscopy market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness the highest growth during the forecast period due to increasing adoption of technologically advanced products, growing food safety concerns, and strategic expansions by key players in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the global infrared & terahertz spectroscopy market by type (benchtop instruments, microscopy instruments, portable instruments, and hyphenated instruments), spectrum (mid-infrared radiation, near-infrared radiation, and far-infrared radiation), application (research & development biomedical, semiconductors, homeland security, and non-destructive testing), end use (pharmaceuticals & biotechnology, industrial chemistry, food & beverage testing, and environmental testing), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.1 0. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.1 1. What M&A activity did occur in the last five years and how did they impact the industry?