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What fueled the previous growth in the infrared and terahertz spectroscopy market?

In recent times, the market size for infrared and terahertz spectroscopy has experienced robust growth. It is expected to increase from $1.33 billion in 2024 to a value of $1.44 billion in 2025, progressing at a compound annual growth rate (CAGR) of 8.5%. Factors such as population growth, increased government investments, enhanced airport security requirements, and heightened concerns over food safety have all contributed to the expansion during the historic period.

What will be the infrared and terahertz spectroscopy market size in the future?

In the coming years, substantial growth is predicted for the infrared & terahertz spectroscopy market. By the year 2029, it is projected to increase to $1.97 billion, with a compound annual growth rate (CAGR) of 8.1%. The expansion during the forecast period can be associated with increased government funding for scientific studies, the growing application in preserving cultural heritage, the surge in demands for spectroscopy in the cosmetics industry, a rising preference for portable and handheld spectrometers, and escalating demand for spectroscopy in biotechnology. Key trends forecasted for this period encompass technological innovation, the integration of AI and machine learning, the convergence with IoT, and hybrid spectroscopy systems.

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What main drivers are fueling expansion in the infrared and terahertz spectroscopy market?

The infrared and terahertz spectroscopy market is expected to experience growth due to the increasing instances of breast cancer, a disease that originates in the breast cells. Numerous factors like aging population, genetic vulnerability, hormonal influences, unhealthy lifestyles, environmental exposures, as well as improved detection methods contribute to the rising cases of this cancer. Considering the benefits of infrared and terahertz spectroscopy in early detection and monitoring of tumors through analysis of tissue properties, it has a significant role in combating breast cancer. For instance, the National Center for Biotechnology Information (a United States government agency) reported in September 2022 that by 2040, there would be over a 40% rise in newly diagnosed cases, totaling approximately 3 million annually. Therefore, the escalating occurrence of breast cancer propels the growth of the infrared and terahertz spectroscopy market.

What key areas define the segmentation of the global infrared and terahertz spectroscopy market?

The infrared and terahertz spectroscopy market covered in this report is segmented –

1) By Type: Near-Infrared Radiation, Mid-Infrared Radiation, Far-Infrared Radiation

2) By Technology: Benchtop, Microscopy, Portable And Handheld, Hyphenated

3) By Application: Semiconductors, Homeland Security, Non-Destructive Testing, Research And Development Biomedical

4) By End User: Pharmaceuticals And Biotechnology, Industrial Chemistry, Food And Beverage Testing, Environmental Testing, Other End-Users

Subsegments:

1) By Near-Infrared Radiation: Fourier Transform Near-Infrared (FT-NIR) Spectroscopy, Dispersive Near-Infrared (DNIR) Spectroscopy

2) By Mid-Infrared Radiation: Fourier Transform Mid-Infrared (FT-MIR) Spectroscopy, Tunable Diode Laser (TDL) Spectroscopy

3) By Far-Infrared Radiation: Terahertz Spectroscopy, Time-Domain Terahertz Spectroscopy, Frequency-Domain Terahertz Spectroscopy

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Who are the dominant players expanding their reach in the infrared and terahertz spectroscopy market?

Major companies operating in the infrared and terahertz spectroscopy market are Hamamatsu Photonics K.K., Thermo Fisher Scientific Inc., Boston Electronics Corporation, Agilent Technologies Inc., Advantest Corporation, PerkinElmer Holdings Inc., Shimadzu Corporation, Bruker Corporation, Horiba Ltd., HÜBNER GmbH & Co. KG, Novanta Inc., TOPTICA Photonics AG, Luna Innovations Inc., JASCO Corporation, Menlo Systems GmbH, TeraView Limited, Spectra Quest Lab Inc., TERASENSE GROUP INC., QMC Instruments Ltd., Applied Research & Photonics Inc., Zomega Terahertz Corporation, Blue Sky Spectroscopy Inc., Science Tech Inc.

How are evolving market trends shaping infrared and terahertz spectroscopy Strategies?

Major companies operating in the infrared and terahertz spectroscopy market are focusing on developing innovative high-performance benchtop FTIR instruments to meet the growing demand for precise, reliable, and cost-effective analytical solutions across various industries, including pharmaceuticals, environmental monitoring, materials science, and food quality control. High-performance benchtop FTIR (Fourier Transform Infrared) instruments are advanced, compact spectrometers used for analyzing the infrared spectrum of materials. For instance, in March 2023, Edinburgh Instruments, a Scotland-based company that manufactures molecular spectroscopy products launched IR5 FTIR Spectrometer. The instrument is designed for ease of use across all user levels, from beginners to advanced researchers. It incorporates moisture control technology that requires no maintenance. The IR5 is equipped with modern software designed specifically for its operation. Miracle facilitates every aspect of the experimental process, from setup to data analysis and reporting.

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Which regions are emerging as leaders in the infrared and terahertz spectroscopy market?

Asia-Pacific was the largest region in the infrared and terahertz spectroscopy market in 2024. The regions covered in the infrared and terahertz spectroscopy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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