Infrared and Terahertz Spectroscopy Market | Promising Growth Opportunities in the Biomedical Sector
Growth in the global infrared and terahertz spectroscopy market can be influenced by technological advancements and strict regulations prevalent in the pharmaceutical sector. In addition to that, augmented government spending in infrared technologies and rising concerns about food safety is expected to work in favor of the market over the assessment timeline, from 2020 to 2030. Terahertz spectroscopy technology is extensively utilized in the testing and development of semiconductor materials and for the detection of faults in circuits. The capacity to quantify and detect charge carriers is anticipated make avenues for utilizing this technology in semiconductors. High-end terahertz spectrometers are capable of accomplishing complex tasks in no time. The rapid expansion of the semiconductor industry together with augmented use of this high-end technology in different semiconductor applications is estimated to bolster growth of the global infrared and terahertz spectroscopy market over the analysis timeframe, from 2020 to 2030.
In addition to being expensive, IR spectroscopy devices come with an average life span of around 5 to 7 years. It has also been noticed that the average selling price of these items has witnessed a slight rise due technological progress made in the sector. At present, there are many used spectroscopy devices available for resale in the market. Many companies in the market prefer use of second-hand devices instead of buying a new one. These factors are estimated to foster development of the global infrared and terahertz spectroscopy market in the near future.
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This study titled “global infrared and terahertz spectroscopy market” contains a detailed outline of the important market segments, namely instrument type, spectrum, application, and regional markets. It also makes an inclusion of the analysis of the competition prevailing in the global infrared and terahertz spectroscopy market over the assessment tenure, from 2020 to 2030.
Global Infrared and Terahertz Spectroscopy Market: Key Trends
Infrared spectroscopy is considered one of the widely utilized technologies in quality control and quality testing of food items. Contamination of food is considered one of the most serious concerns across the globe. According to World Health Organization (WHO), more than 200 types of diseases are caused by eating unsafe food every year. One of the most common illnesses caused by having contaminated food is diarrheal diseases. According to WHO, almost 600 million people fall ill due to the consumption of contaminated food items and many people die of it every year as well. As such, food safety is one of the leading concerns for governments worldwide.
Rapid progress has been made in technology and it has exhibited excellent capabilities of terahertz spectroscopy in different healthcare applications. The emphasis on the use of terahertz spectroscopy in different biomedical applications has increased considerably. Many studies are conducted to figure out its potential applications in detection of cancer, characterization of protein, and quality control. T-rays can be utilized in capturing the signs of cancer as these rays are non-ionizing and non-invasive. All these benefits have played an important role in the increased use of terahertz spectroscopy in many cancer-related research activities. All these factors are estimated to support growth of the global infrared and terahertz spectroscopy market over the analysis timeline, from 2020 to 2030.
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Global Infrared and Terahertz Spectroscopy Market: Competitive Assessment
The global infrared and terahertz spectroscopy market is considered modestly fragmented with promising growth opportunities in the biomedical sector, which is foreseen to boost the number of new players entering this market.
Some of the well-known players in the global infrared and terahertz spectroscopy market are listed below:
- Spectra Analysis instruments
- BATOP GmbH
- Teledyne Princeton Instruments
- Thermo Fisher Scientific
- Shimadzu Corporation
- Agilent Technologies, Inc.
Global Infrared and Terahertz Spectroscopy Market: Regional Assessment
North America is estimated to emerge as one of the dominating regions in the global infrared and terahertz spectroscopy market and is likely to remain so throughout the period of assessment. Increased spending by government in research and development activities together with the presence of leading players in the region is likely to propel growth of the market in the region.
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