Globe Newswire
Dublin, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The "Infrared & Terahertz Spectroscopy Market by Instrument Type (Benchtop Instruments, Microscopy Instruments, Portable Instruments, Hyphenated Instruments), Spectrum, Application - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The infrared spectroscopy market is expected to reach USD 1.3 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 5.2% during the forecast period.Growth in the market can primarily be attributed to factors such as stringent regulations in the pharmaceutical industry, growing food safety concerns, increasing government in Infrared technologies and technological advancements in the market.The terahertz spectroscopy market is expected to reach USD 45 million by 2025 from USD 30 million in 2020, at a CAGR of 8.3% during the forecast period. Growth in the market can primarily be attributed to factors such as increasing applications of terahertz spectroscopy as a screening technique in homeland security, the growing semiconductor industry, and technological advancements.The benchtop segment to hold the largest market share in 2020.Based on instrument type, the infrared spectroscopy market is segmented into benchtop instruments, portable instruments, microscopy instruments and hyphenated instruments. In 2020, the benchtop instruments segment is expected to command the largest share of the infrared spectroscopy market. The large share of this segment can be attributed to the advantages offered by benchtop instruments such as improved workflow, minimum space requirements, and fewer maintenance requirements The pharmaceutical and biotechnology applications segment to hold the largest market share in 2020.Based on the applications, the infrared spectroscopy market is segmented into food & beverage testing, pharmaceutical & biotechnology applications, industrial chemistry applications, environmental testing, and other applications (academic applications, forensic applications, biomonitoring, and agricultural applications). In 2020, the pharmaceutical and biotechnology applications segment to command the largest share of the infrared spectroscopy market. The large share of this segment can be attributed to the stringent regulations in the pharmaceutical industry.The mid-infrared radiation segment to hold the largest market share in 2020.Based on spectrum, the infrared spectroscopy market is segmented into mid-infrared radiation, near-infrared radiation and far-infrared radiation. In 2020, the mid-infrared radiation segment is expected to command the largest share of the infrared spectroscopy market. The increase in the number of healthcare and pharmaceuticals applications and extensive usage in the food industry are driving the growth of this segment.The semiconductor segment to hold the largest market share in 2020.Based on application, the terahertz spectroscopy market is segmented into semiconductor, homeland security, non-destructive testing and research & development. In 2020, the semiconductor segment is expected to command the largest share of the terahertz spectroscopy market. Technological advancements in the growing semiconductor industry is the major factor driving the growth of this segment.The Asia Pacific region to witness the highest growth during the forecast period.Geographically, North America dominated the global infrared & terahertz spectroscopy market in 2020. However, the Asia Pacific market is expected to register the highest during the forecast period. The major factors driving the growth of the Asia Pacific market include strategic expansions by key players, increasing food safety concerns and adoption of technologically advanced products.Key Topics Covered: 1 Introduction2 Research Methodology3 Executive Summary4 Premium Insights4.1 Infrared Spectroscopy Market Overview4.2 Terahertz Spectroscopy Market Overview4.3 North America: Infrared Spectroscopy Market, by Spectrum & Country (2019)4.4 Infrared Spectroscopy Market Share, by Instrument Type, 2020 Vs. 20254.5 Infrared Spectroscopy Market, by Spectrum, 2020 Vs. 20254.6 Terahertz Spectroscopy Market, by Application, 2020 Vs. 20255 Market Overview5.1 Terahertz Spectroscopy5.1.1 Introduction5.1.2 Drivers5.1.2.1 Increasing Applications of Terahertz Spectroscopy as a Screening Technique for Homeland Security5.1.2.2 Growing Semiconductor Industry5.1.2.3 Technological Advancements5.1.3 Restraints5.1.3.1 High Equipment Costs5.1.4 Opportunities5.1.4.1 Potential Applications of Terahertz Spectroscopy in Healthcare5.2 Infrared Spectroscopy5.2.1 Introduction5.2.2 Drivers5.2.2.1 Stringent Regulations in the Pharmaceutical Industry5.2.2.2 Growing Food Safety Concerns5.2.2.3 Increasing Government Investments in Infrared Spectroscopy Technologies5.2.2.4 Technological Advancements5.2.3 Restraints5.2.3.1 Technical Limitations of Ir Spectroscopy5.2.3.2 Availability of Used Ir Devices5.2.4 Opportunities5.2.4.1 Growing Opportunities in Emerging Nations5.2.4.2 Adoption of Nir Spectroscopy in Seed Detection5.2.4.3 Growing Proteomics Market5.3 Impact of COVID-19 on the Terahertz and Infrared Spectroscopy Market5.4 Value Chain Analysis5.4.1 Research & Product Development5.4.2 Manufacturing & Assembly5.4.3 Distribution, Marketing & Sales, and Post-Sales Services5.5 Supply Chain Analysis5.5.1 Prominent Companies5.5.2 Small and Medium-Sized Enterprises5.5.3 End-users5.6 Regulatory Guidelines in the Terahertz and Infrared Spectroscopy Market5.7 Average Selling Price Trend (Infrared Spectroscopy)5.8 Porter's Five Forces Analysis (Infrared Spectroscopy)5.8.1 Introduction5.8.2 Bargaining Power of Buyers5.8.3 Bargaining Power of Suppliers5.8.4 Threat from New Entrants5.8.5 Threat from Substitutes5.8.6 Intensity of Competitive Rivalry6 Infrared Spectroscopy Market, by Instrument Type6.1 Introduction6.1.1 Benchtop Instruments6.1.1.1 Ease of Use and Convenience of Benchtop Instruments to Drive Their Demand6.1.2 Microscopy Instruments6.1.2.1 Emergence of Microscopy Instruments as Powerful Tools in Tissue Engineering to Drive Market Growth6.1.3 Portable Instruments6.1.3.1 Unique Applications Offered by Portable Spectrometers to Drive Market Growth6.1.4 Hyphenated Instruments6.1.4.1 Advancements in Hyphenated Spectrometers Have Widened the Applications of These Instruments in Various Industries7 Infrared Spectroscopy Market, by Spectrum7.1 Introduction7.1.1 Near-Infrared Radiation (Nir)7.1.1.1 Various Applications of Nir in Different Industries to Drive Market Growth7.1.2 Mid-Infrared Radiation (Mir)7.1.2.1 Growing Use of Mid-Infrared Radiation in the Food Industry to Drive Market Growth7.1.3 Far-Infrared Radiation (Fir)7.1.3.1 High Demand for Far-Infrared Technology in Healthcare & Pharmaceutical Applications to Drive Market Growth8 Infrared Spectroscopy Market, by Application8.1 Introduction8.1.1 Pharmaceutical & Biotechnology Applications8.1.1.1 Increasing Use of Infrared Spectroscopy in Different Pharmaceutical & Biotechnology Applications to Drive Growth8.1.2 Industrial Chemistry Applications8.1.2.1 Increasing Use of Infrared Spectroscopy in Determining the Molecular Structure of Compounds to Drive Market Growth8.1.3 Food & Beverage Testing8.1.3.1 Growing Use of Infrared Spectroscopy in Determining the Quality of Food Items and Beverages to Drive Market Growth8.1.4 Environmental Testing8.1.4.1 Growing Use of Infrared Spectroscopy Instruments to Analyze Toxic Compounds in the Environment to Drive Market Growth8.1.5 Other Applications9 Terahertz Spectroscopy Market, by Application9.1 Introduction9.2 Semiconductors9.2.1 Increasing Technological Advancements to Drive the Market Growth9.3 Homeland Security9.3.1 Better Penetration Capabilities of Terahertz Spectroscopy to Drive Growth in Various Homeland Security Applications9.4 Non-Destructive Testing9.4.1 Increasing Use of Terahertz Spectroscopy as a Screening Technique to Drive Growth9.5 Research & Development9.5.1 Continuous Development in Biomedical Applications to Boost the Market10 Terahertz and Infrared Spectroscopy Market, by Region10.1 Introduction10.2 North America10.3 Europe10.4 Asia-Pacific10.5 Rest of the World (Row)11 Competitive Landscape11.1 Overview11.1.1 Infrared Spectroscopy11.1.1.1 Key Market Developments11.1.1.1.1 Product Launches11.1.1.1.2 Acquisitions11.1.1.1.3 Partnerships, Collaborations, and Agreements11.1.1.1.4 Expansions11.1.2 Terahertz Spectroscopy11.1.2.1 Key Market Developments11.1.2.1.1 Product Launches11.1.2.1.2 Acquisitions11.1.2.1.3 Expansions11.1.2.1.4 Partnerships & Collaborations12 Competitive Evaluation Matrix and Company Profiles12.1 Competitive Evaluation Matrix12.2 Competitive Leadership Mapping: Major Market Players (2019)12.2.1 Stars12.2.2 Emerging Leaders12.2.3 Emerging Companies12.2.4 Pervasive Players12.3 Start-Up Evaluation Matrix12.3.1 Progressive Companies12.3.2 Responsive Companies12.3.3 Dynamic Companies12.3.4 Starting Blocks12.4 Company Profiles12.4.1 Perkinelmer, Inc.12.4.2 Bruker Corporation12.4.3 Thermo Fisher Scientific, Inc.12.4.4 Shimadzu Corporation12.4.5 Agilent Technologies, Inc.12.4.6 Horiba Ltd.12.4.7 Foss12.4.8 Jasco, Inc.12.4.9 Bayspec Inc.12.4.10 Spectra Analysis Instruments Inc.12.4.11 Teledyne Princeton Instruments12.4.12 Teraview Ltd.12.4.13 Advantest Corporation12.4.14 Menlo Systems Gmbh12.4.15 Toptica Photonix Ag12.4.16 Microtech Instruments Inc.12.4.17 Batop Gmbh12.4.18 Hubner Gmbh12.4.19 Advanced Photonix, Inc.12.4.20 Ekspla13 Appendix13.1 Discussion Guide: Terahertz Spectroscopy13.2 Discussion Guide: Infrared Spectroscopy13.3 Knowledge Store: The Subscription Portal13.4 Available Customizations13.5 Related Reports13.6 Author Details For more information about this report visit https://www.researchandmarkets.com/r/xanh0y CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900