HOME Top Market Reports Terahertz and Infrared Spectroscopy Market by Spectrum (Near/Mid /Far-Infrared), by Technology (Benchtop/Portable & Handheld), by Application (Semiconductors/Homeland Security/Pharmaceutical & Biotechnology/Industrial Chemistry) - Global Forecasts to 2020

Terahertz and Infrared Spectroscopy Market by Spectrum (Near/Mid /Far-Infrared), by Technology (Benchtop/Portable & Handheld), by Application (Semiconductors/Homeland Security/Pharmaceutical & Biotechnology/Industrial Chemistry) - Global Forecasts to 2020

By: marketsandmarkets.com
Publishing Date: March 2016
Report Code: BT 4172

 

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The terahertz spectroscopy market is poised to reach USD 52.5 Million by 2020, growing at a CAGR of 21.3%, whereas the infrared spectroscopy market is poised to reach USD 1.25 Billion by 2020, growing at a CAGR of 6.9%, during the forecast period of 2015 to 2020. The growth of the overall terahertz and infrared spectroscopy market can be contributed to rising investments, funds, and grants by government bodies worldwide, the growth of the semiconductor industry, and technological advancements. In addition, growing food safety concerns and stringent regulations have contributed to market growth. In the coming years, the terahertz and infrared spectroscopy market is expected to witness the highest growth rate in the Asia-Pacific region. North America is expected to account for the largest share of the global terahertz and infrared spectroscopy market. However, the high cost of equipment is likely to restrain the growth of the market during the forecast period.

The report segments the terahertz spectroscopy market based on application. The semiconductor segment is expected to account for the largest share of the THz spectroscopy market, by application, in 2015 and grow at the highest CAGR.

Major players in the terahertz spectroscopy market include TeraView, Ltd. (U.S.), Menlo Systems GmbH (Germany), Toptica Photonix AG (Germany), Advanced Photonix, Inc. (U.S.), and Advantest Corporation (Japan).

Similarly, the report segments the THz spectroscopy market based on spectrum, technology, and applications. The mid-infrared spectroscopy segment is expected to account for the largest share of the THz spectroscopy market, by spectrum, in 2015, while the far-infrared segment is expected to grow at the highest CAGR. In addition, the benchtop segment is expected to account for the largest share of the infrared spectroscopy market, by technology, in 2015, while the portable & handheld is expected to grow at the highest CAGR.

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Scope of the Report:

This research report categorizes the terahertz and infrared spectroscopy market into the following segments:

Terahertz Spectroscopy Market, by Application

  • Semiconductor
  • R&D (Pharmaceutical and Biomedical)
  • Homeland Security
  • Non-destructive testing

Infrared Spectroscopy Market, by Application

  • Pharmaceuticals & Biotechnology
  • Industrial Chemistry
  • Environmental Testing
  • Food & Beverage Testing
  • Others (Academia, forensic laboratories, biomonitoring, and agriculture)

Infrared Spectroscopy Market, by Technology

  • Benchtop
  • Microscopy
  • Portable & Handheld
  • Hyphenated

Infrared Spectroscopy Market, by Spectrum

  • Near-infrared
  • Mid-infrared
  • Far-infrared

Terahertz and Infrared Spectroscopy Market, by Region

  • North America
  • U.S.
  • Canada
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)

Stakeholders of the Terahertz and Infrared SpectroscopyMarket

  • Manufacturers
  • Suppliers/Distributors
  • Pharmaceutical Companies
  • Semiconductor Companies
  • Biotechnology Companies
  • Academic Centers
  • Research Institutes
  • Venture Capitalists

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Product Matrix, which gives a detailed comparison of the product portfolios of the top three companies in the market.

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Methodology Steps
    2.2 Secondary and Primary Research Methodology
           2.2.1 Secondary Research
    2.3 Key Data From Secondary Sources
           2.3.1 Primary Research
    2.4 Key Industry Insights
    2.5 Key Data From Primary Sources
    2.6 Key Insights From Primary Sources
    2.7 Market Size Estimation Methodology
    2.8 Research Design
    2.9 Market Data Validation and Triangulation
    2.10 Assumptions for the Study

3 Executive Summary (Page No. - 29)
    3.1 Terahertz Spectroscopy
           3.1.1 Current Scenario
           3.1.2 Future Outlook
           3.1.3 Conclusion
    3.2 Infrared Spectroscopy
           3.2.1 Current Scenario
           3.2.2 Future Outlook
           3.2.3 Conclusion

4 Premium Insights (Page No. - 36)
    4.1 Global Terahertz & Infrared Spectroscopy Market
    4.2 Geographic Analysis
    4.3 THz spectroscopy Market Share, By Application (2015 vs 2020)
    4.4 THz spectroscopy Market Size, By Application (2015 vs 2020)

5 Market Overview (Page No. - 39)
    5.1 Terahertz Spectroscopy
           5.1.1 Introduction
           5.1.2 Market Segmentation
           5.1.3 Market Dynamics
           5.1.4 Drivers
                    5.1.4.1 Increasing Applications of Terahertz Spectroscopy as A Screening Technique for Homeland Security
                    5.1.4.2 Growing Semiconductor Industry
                    5.1.4.3 Technological Advancements
           5.1.5 Restraints
                    5.1.5.1 High Cost of Equipment
           5.1.6 Opportunities
                    5.1.6.1 Potential Applications of Terahertz Spectroscopy in Healthcare
    5.2 Infrared Spectroscopy
           5.2.1 Introduction
           5.2.2 Market Segmentation
           5.2.3 Market Dynamics
           5.2.4 Drivers
                    5.2.4.1 New International CGMP & CGDP Certification for Pharmaceutical Excipients
                    5.2.4.2 Growing Food Safety Concerns
                    5.2.4.3 Increasing Government Investments in Infrared Spectroscopy Technologies
                    5.2.4.4 Technological Advancements
           5.2.5 Restraints
                    5.2.5.1 High Equipment Costs
           5.2.6 Opportunities
                    5.2.6.1 Growing Opportunities in Emerging Nations
                    5.2.6.2 Growing Proteomics Market

6 Terahertz Spectroscopy Market, By Application (Page No. - 51)
    6.1 Introduction
    6.2 Semiconductors
    6.3 Homeland Security
    6.4 Non-Destructive Testing
    6.5 Research & Development (Biomedical)

7 Infrared Spectroscopy Market, By Spectrum (Page No. - 60)
    7.1 Introduction
    7.2 Near-Infrared Radiation (NIR)
    7.3 Mid-Infrared Radiation (MIR)
    7.4 Far-Infrared Radiation (FIR)

8 Infrared Spectroscopy Market, By Technology (Page No. - 66)
    8.1 Introduction
    8.2 Benchtop
    8.3 Microscopy
    8.4 Portable & Handheld
    8.5 Hyphenated

9 Infrared Spectroscopy Market, By Application (Page No. - 72)
    9.1 Introduction
    9.2 Pharmaceuticals & Biotechnology
    9.3 Industrial Chemistry
    9.4 Food & Beverage Testing
    9.5 Environmental Testing
    9.6 Other Applications

10 Terahertz and Infrared Spectroscopy Market, By Region (Page No. - 81)
     10.1 Introduction
     10.2 North America
             10.2.1 U.S.
                        10.2.1.1 Rising Use of Terahertz Technology in Diagnosis of Cancer
                        10.2.1.2 Increasing Funding in Research Activities to Boost the Infrared and THz spectroscopy Market
                        10.2.1.3 Growing Security Concerns to Boost the THz spectroscopy Market
                        10.2.1.4 Conferences, Symposia, & Seminars Related to Terahertz and Infrared Spectroscopy in the U.S.
                        10.2.1.5 Stringent Drug Development Regulations in the U.S. to Increase the Adoption of Infrared Spectroscopy
             10.2.2 Canada
                        10.2.2.1 Funding for Innovation-Based Research to Drive the Canadian Terahertz and Infrared Spectroscopy Market
                        10.2.2.2 Conferences, Discussions, Symposia, & Seminars Hosted in Canada
     10.3 Europe
             10.3.1 Growing Use of Terahertz Technology in Skin Cancer Diagnosis in the U.K.
             10.3.2 Security Concerns Driving the THz spectroscopy Market in Europe
             10.3.3 Favorable Funding Scenario in Germany
             10.3.4 Advancements in Biotechnology and Pharmaceutical Industries in Germany, the U.K., and Italy to Boost THz spectroscopy Market
             10.3.5 Rising Usage of Infrared Spectroscopy for Food Authenticity Testing in the U.K.
             10.3.6 Developing Pharmaceutical Sector in Russia to Boost Infrared Spectroscopy Market
             10.3.7 Growing Life Sciences Market in Denmark
     10.4 Asia-Pacific
             10.4.1 Growth in Spending on Homeland Security in Asia to SPUR the THz spectroscopy Market
             10.4.2 Strategic Expansions By Key Players in China to Boost the Growth of Infrared Spectroscopy Market
             10.4.3 Growing Semiconductor Industry to Bolster THz spectroscopy Market
             10.4.4 Rising Food Safety Concerns in India
             10.4.5 Conferences and Symposia
             10.4.6 Free Trade Agreement Between Korea and the U.S.
             10.4.7 Growing Infrastructural Development in Vietnam to SPUR Infrared Spectroscopy Market
             10.4.8 Regulatory Changes to Support Market Growth in Israel, New Zealand, and Australia
             10.4.9 Federal Collaborations in Australia to Trigger the Market Growth
     10.5 Rest of the World (RoW)
             10.5.1 Increasing Focus of Pharmaceutical Companies on Africa
             10.5.2 Favorable Biotechnology and Pharmaceutical Environment in Brazil and Mexico
             10.5.3 Homeland Security to Drive the Terahertz Spectroscopy Market in the RoW

11 Competitive Landscape (Page No. - 112)
     11.1 Infrared Spectroscopy
             11.1.1 Overview
             11.1.2 Market Share Analysis, Infrared Spectroscopy Market (2015)
                        11.1.2.1 Thermo Fisher Scientific, Inc.
                        11.1.2.2 Perkinelmer, Inc.
                        11.1.2.3 Bruker Corporation
             11.1.3 Competitive Situation and Trends
                        11.1.3.1 New Product Launches
                        11.1.3.2 Expansion
                        11.1.3.3 Collaborations/Agreements/ Alliances
                        11.1.3.4 Acquisition
     11.2 Terahertz Spectroscopy
             11.2.1 Overview
             11.2.2 Market Share Analysis (2015)
                        11.2.2.1 Teraview Ltd.
             11.2.3 Competitive Situation and Trends
                        11.2.3.1 New Product Launches
                        11.2.3.2 Expansion
                        11.2.3.3 Product Deployment
                        11.2.3.4 Partnerships
                        11.2.3.5 Others

12 Company Profiles (Page No. - 126)
     12.1 Introduction
     12.2 Teraview Ltd
     12.3 Menlo Systems Gmbh
     12.4 Advantest Corporation
     12.5 Advanced Photonix, Inc.
     12.6 Toptica Photonix Ag
     12.7 Thermo Fisher Scientific, Inc.
     12.8 Bruker Corporation
     12.9 Perkinelmer, Inc.
     12.10 Shimadzu Corporation
     12.11 Agilent Technologies, Inc.

*Details on Financials, Products & Services, Key Strategy, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 151)
     13.1 Discussion Guide: THz spectroscopy
             13.1.1 Strategic Developments, By Company (2012-2015)
                        13.1.1.1 Advantest Corporation
     13.2 Discussion Guide: Infrared Spectroscopy
             13.2.1 Strategic Developments, By Company (2012-2015)
                        13.2.1.1 Agilent Technologies, Inc.
                        13.2.1.2 Perkin Elmer, Inc.
                        13.2.1.3 Bruker Corporation
                        13.2.1.4 Thermo Fisher Scientific, Inc.
                        13.2.1.5 Shimadzu Corporation
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
             13.4.1 Available Customizations
     13.5 Related Reports


List of Tables (73 Tables)

Table 1 Growing Semiconductor Industry is Propelling the Growth of the THz spectroscopy Market
Table 2 High Cost of Equipment is Restraining the Growth of the THz spectroscopy Market
Table 3 Potential Applications in Healthcare are A Huge Growth Potential for the THz Spectroscopy Market
Table 4 Growing Food Safety Concerns are Propelling the Growth of the Infrared Spectroscopy Market
Table 5 High Equipment Costs are Restraining the Growth of the Infrared Spectroscopy Market
Table 6 Growing Opportunities in Emerging Nations Offer A Huge Growth Potential for the Infrared Spectroscopy Market
Table 7 Terahertz Spectroscopy Market Size, By Application, 2013–2020 (USD Million)
Table 8 Terahertz Spectroscopy Market Size for Semiconductor Applications,  By Region, 2013–2020 (USD Million)
Table 9 North America: Terahertz Spectroscopy Market Size for Semiconductor Applications, By Country, 2013–2020 (USD Million)
Table 10 Terahertz Spectroscopy Market Size for Homeland Security Applications, By Region, 2013–2020 (USD Million)
Table 11 North America: Terahertz Spectroscopy Market Size for Homeland Security Applications, By Country, 2013–2020 (USD Million)
Table 12 Terahertz Spectroscopy Market Size for Non-Destructive Testing Applications, By Region, 2013–2020 (USD Million)
Table 13 North America: Terahertz Spectroscopy Market Size for Non-Destructive Testing Applications, By Country, 2013–2020 (USD Million)
Table 14 Terahertz Spectroscopy Market Size for Research & Development Applications, By Region, 2013–2020 (USD Million)
Table 15 North America: Terahertz Spectroscopy Market Size for Research & Development Applications, By Country, 2013–2020 (USD Million)
Table 16 Infrared Spectroscopy Market Size, By Spectrum, 2013–2020 (USD Million)
Table 17 Near-Infrared Spectroscopy Market Size, By Region, 2013–2020 (USD Million)
Table 18 Mid-Infrared Spectroscopy Market Size, By Region,  2013–2020 (USD Million)
Table 19 Far-Infrared Spectroscopy Market Size, By Region, 2013–2020 (USD Million)
Table 20 Infrared Spectroscopy Market Size, By Technology,  2013–2020 (USD Million)
Table 21 Benchtop Spectrometers Market Size, By Region, 2013–2020 (USD Million)
Table 22 Ir Microscopes Market Size, By Region, 2013–2020 (USD Million)
Table 23 Portable & Handheld Spectrometers Market Size, By Region,  2013–2020 (USD Million)
Table 24 Hyphenated Spectrometers Market Size, By Region, 2013–2020 (USD Million)
Table 25 Infrared Spectroscopy Market Size, By Application,  2013–2020 (USD Million)
Table 26 Pharmaceuticals & Biotechnology Market Size, By Region,  2013–2020 (USD Million)
Table 27 Industrial Chemistry Market Size, By Region, 2013–2020 (USD Million)
Table 28 Fish Supply and Food Fish Consumption, 2008 vs 2030
Table 29 Milk & Milk Product Statistics (Thousand Tonnes, Milk Equivalent)
Table 30 Food & Beverage Testing Market Size, By Region, 2013–2020 (USD Million)
Table 31 Environmental Testing Market Size, By Region, 2013–2020 (USD Million)
Table 32 Other Applications Market Size, By Region, 2013–2020 (USD Million)
Table 33 Global Terahertz Spectroscopy Market Size, By Region,  2013–2020 (USD Million)
Table 34 Global Terahertz Spectroscopy Market Volume, By Region, 2013–2020 (Units)
Table 35 Global Infrared Spectroscopy Market Size, By Region,  2013–2020 (USD Million)
Table 36 North America: Terahertz Spectroscopy Market Size, By Country,  2013–2020 (USD Million)
Table 37 North America: Terahertz Spectroscopy Market Volume, By Country, 2013–2020 (Units)
Table 38 North America: Terahertz Spectroscopy Market Size, By Application,  2013–2020 (USD Million)
Table 39 North America: Infrared Spectroscopy Market Size, By Country,  2013–2020 (USD Million)
Table 40 North America: Infrared Spectroscopy Market Size, By Spectrum,  2013–2020 (USD Million)
Table 41 North America: Infrared Spectroscopy Market Size, By Technology,  2013–2020 (USD Million)
Table 42 North America: Infrared Spectroscopy Market Size, By Application,  2013–2020 (USD Million)
Table 43 U.S.: Terahertz Spectroscopy Market Size, By Application,  2013–2020 (USD Million)
Table 44 U.S.: Infrared Spectroscopy Market Size, By Spectrum,  2013–2020 (USD Million)
Table 45 U.S.: Infrared Spectroscopy Market Size, By Technology,  2013–2020 (USD Million)
Table 46 U.S.: Infrared Spectroscopy Market Size, By Application,  2013–2020 (USD Million)
Table 47 Canada: Terahertz Spectroscopy Market Size, By Application,  2013–2020 (USD Million)
Table 48 Canada: Infrared Spectroscopy Market Size, By Spectrum,  2013–2020 (USD Million)
Table 49 Canada: Infrared Spectroscopy Market Size, By Technology,  2013–2020 (USD Million)
Table 50 Canada: Infrared Spectroscopy Market Size, By Application, 2013–2020 (USD Million)
Table 51 Conferences, Symposia, & Workshops Hosted in Europe (2012-2015)
Table 52 Europe: Terahertz Spectroscopy Market Size, By Application, 2013–2020 (USD Million)
Table 53 Europe: Infrared Spectroscopy Market Size, By Spectrum, 2013–2020 (USD Million)
Table 54 Europe: Infrared Spectroscopy Market Size, By Technology, 2013–2020 (USD Million)
Table 55 Europe: Infrared Spectroscopy Market Size, By Application, 2013–2020 (USD Million)
Table 56 Conferences, Symposia, & Workshops Hosted in Asia-Pacific (2012-2015)
Table 57 Asia-Pacific: Terahertz Spectroscopy Market Size, By Application,  2013–2020 (USD Million)
Table 58 Asia-Pacific: Infrared Spectroscopy Market Size, By Spectrum, 2013–2020 (USD Million)
Table 59 Asia-Pacific: Infrared Spectroscopy Market Size, By Technology, 2013–2020 (USD Million)
Table 60 Asia-Pacific: Infrared Spectroscopy Market Size, By Application, 2013–2020 (USD Million)
Table 61 RoW: Terahertz Spectroscopy Market Size, By Application, 2013–2020 (USD Thousand)
Table 62 RoW: Infrared Spectroscopy Market Size, By Spectrum, 2013–2020 (USD Million)
Table 63 RoW: Infrared Spectroscopy Market Size, By Technology, 2013–2020 (USD Million)
Table 64 RoW: Infrared Spectroscopy Market Size, By Application, 2013–2020 (USD Million)
Table 65 New Product Launches, 2012–2015
Table 66 Expansions, 2012–2015
Table 67 Agreements/ Collaborations/Alliances, 2012–2015
Table 68 Acquisitions, 2012–2015
Table 69 New Product Launches, 2012–2015
Table 70 Expansions, 2012–2015
Table 71 Product Deployment, 2012–2015
Table 72 Partnerships, 2012–2015
Table 73 Others, 2012–2015


List of Figures (47 Figures)

Figure 1 Terahertz & Infrared Spectroscopymarket: Research Methodology Steps
Figure 2 Sampling Frame: Primary Research
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation,  and Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Research Design - Infrared Spectroscopy Market
Figure 9 Research Design - Terahertz Spectroscopy Market
Figure 10 Data Triangulation Methodology
Figure 11 North America Dominates the Global Terahertz Spectroscopy Market in 2015
Figure 12 The Semiconductor Segment to Witness the Highest CAGR From 2015 to 2020
Figure 13 Market in Asia-Pacific Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 North America Dominates the Global Infrared Spectroscopy Market in 2015
Figure 15 Portable & Handheld Spectroscopes to Witness the Highest CAGR From 2015 to 2020
Figure 16 Market in Asia-Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 17 Terahertz Spectroscopy: Market Overview
Figure 18 Infrared Spectroscopy: Market Overview
Figure 19 Asia-Pacific Terahertz Spectroscopy Market to Witness the Highest Growth During the Forecast Period
Figure 20 Asia-Pacific Infrared Spectroscopy Market to Witness the Highest Growth Rate During the Forecast Period
Figure 21 Semiconductor Segment Commands the Largest Share in 2015
Figure 22 Pharmaceutical & Biotechnology Commands the Largest Share in 2015
Figure 23 Semiconductor Segment to Grow at the Highest CAGR in the Forecast Period
Figure 24 Global Infrared Spectroscopy Market Segmentation, By Spectrum
Figure 25 Far-Infrared Spectroscopy Segment is Expected to Witness Highest Growth During the Forecast Period
Figure 26 Global Infrared Spectroscopy Market Segmentation, By Technology
Figure 27 Portable & Handheld Segment Expected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Pharmaceutical & Biotechnology Segment to Grow at the Highest CAGR in the Forecast Period
Figure 29 North America to Command the Largest Share of the Global Terahertz Spectroscopy Market in 2015
Figure 30 North America to Command the Largest Share of the Global Infrared Spectroscopy Market in 2015
Figure 31 U.S. to Witness the Highest Growth in the North American Terahertz and Infrared Spectroscopy Markets (2015)
Figure 32 Europe to Witness Double-Digit Growth in the Terahertz Spectroscopy Market (2015-2020)
Figure 33 Asia-Pacific to Witness the Highest Growth in the Global Terahertz and Infrared Spectroscopy Market (2015-2020)
Figure 34 Benchtop Segment to Command the Largest Share of the Infrared Spectroscopy Market in the Rest of the World Region During 2015 to 2020
Figure 35 New Product Launches, the Key Growth Strategy for Market Players
Figure 36 Global Infrared Spectroscopy Market, By Key Player, 2015
Figure 37 Battle for Market Share: New Product Launches Was the Key Strategy
Figure 38 Global Terahertz Spectroscopy Market, By Key Player, 2015
Figure 39 Battle for Market Share: New Product Launches Was the Key Strategy
Figure 40 Geographical Revenue Mix of Top Three Market Players for Infrared Spectroscopy
Figure 41 Advantest Corporation: Company Snapshot
Figure 42 Advanced Photonix, Inc. (Luna, Inc.): Company Snapshot
Figure 43 Thermo Fisher Scientific, Inc.: Company Snapshot
Figure 44 Bruker Corporation: Company Snapshot
Figure 45 Perkinelmer, Inc.: Company Snapshot
Figure 46 Shimadzu Corporation: Company Snapshot
Figure 47 Agilent Technologies, Inc.: Company Snapshot

The demand for terahertz and infrared spectroscopy systems has been on the rise due to growth in the semiconductors industry, rising use of THz spectroscopy  in homeland security, and burgeoning requirements of the life sciences, pharmaceutical, and chemical industries. Various regulatory authorities across industries have enforced stringent safety regulations in order to ensure that the products launched in the market adhere to quality specifications. The use of terahertz and infrared spectroscopy technologies facilitate compliance with these regulations by enabling the measurement and monitoring of samples.

The global THz spectroscopy market is segmented on the basis of application and region. By application, the THz spectroscopy market comprises semiconductors, homeland security, research and development, and non-destructive testing. In 2015, the semiconductor segment is estimated to account for the largest share of the THz spectroscopy market and expected to grow at the highest rate during the forecast period.

The global THz spectroscopy market is segmented on the basis of spectrum, technology, application, and region. By spectrum, the infrared spectroscopy market comprises near-infrared, mid-infrared, and far-infrared. In 2015, mid-infrared segment is estimated to account for the largest share of the THz spectroscopy market and the far-infrared segment is expected to grow at the highest rate during the forecast period.

By technology, the infrared spectroscopy market comprises benchtop, microscopy, portable & handheld, and hyphenated. In 2015, the benchtop segment is estimated to account for the largest share of the infrared spectroscopy market, while the portable & handheld segment is expected to grow at the highest rate during the forecast period.

On the basis of application, the infrared spectroscopy market is divided into food and beverage testing, pharmaceuticals & biotechnology, industrial chemistry, environmental testing, and others. In 2015, the pharmaceuticals & biotechnology segment is expected to account for the largest share of the market and grow at the highest rate.

The key factors expected to drive the growth of the terahertz and infrared spectroscopy market are increased investments, funding, and grants by government bodies worldwide; new product launches; technological advancement; rising number of conferences; and growing concerns for food and drug safety. However, the high cost of equipment is likely to restrain the growth of this market.

On the basis of region, the terahertz spectroscopy market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Terahertz & Infrared Spectroscopy Market

Source: U.S. Food and Drug Association (USFDA), Journal of Biomedical Optics, World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), The Natural Sciences and Engineering Research Council of Canada (NSERC), Associated Chambers of Commerce and Industry (ASSOCHAM), Federation of Analytical Chemistry and Spectroscopy Societies, Society for Applied Spectroscopy, Applied Terahertz Science Group (Mexico), Center for Terahertz Research, Semiconductor Industry Association (SIA), Expert Interviews, and MarketsandMarkets Analysis

The terahertz spectroscopy market is expected to reach USD 52.53 Million in 2020 from USD 20.0 Million in 2015 at a CAGR of 21.30%. The market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is expected to grow at the fastest rate during the forecast period.

The major players in this market include TeraView, Ltd. (U.S.), Menlo Systems GmbH (Germany), Toptica Photonix AG (Germany), Advanced Photonix, Inc. (U.S.), and Advantest Corporation (Japan).

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