(EMAILWIRE.COM, April 06, 2021 ) The study involved four major activities in estimating the current market size for Infrared & terahertz spectroscopy. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.

According to the new market research report "Infrared and Terahertz Spectroscopy Market by Instrument Type (Benchtop Instruments, Microscopy Instruments, Portable Instruments, Hyphenated Instruments), Spectrum, Application - Global Forecast to 2025" published by MarketsandMarkets™.

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

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

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Growth Drivers: Growing food safety concerns;

Infrared spectroscopy is one of the most commonly used analytical techniques in quality testing and quality control of food. Food contamination is one of the biggest concerns worldwide, with more than 200 types of diseases caused by the consumption of unsafe food every year [Source: World Health Organization (WHO)]. Diarrheal diseases are the most common illnesses caused due to the consumption of contaminated food, and it is estimated that 600 million people (1 in every ten people in the world) fall sick from the consumption of contaminated food and 420,000 die every year [Source: World Health Organization (WHO)]. Food safety is thus a major concern for governments across the globe.

Opportunities Growing opportunities in emerging nations;

As compared to mature markets such as the US and Europe, emerging markets such as China and India are expected to provide significant growth opportunities for players operating in this market. Huge demand for spectroscopy is generated from China and India due to the Greenfield projects set up in various end-user industries in these countries. The life sciences industry in this region is also quite robust and is expected to contribute significantly to the growth of the infrared spectroscopy market in the coming years.

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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 Market Players;

Bruker Corporation (US), Agilent Technologies (US), Shimadzu Corporation (Japan), PerkinElmer (US), Thermo Fisher Scientific (US), FOSS (Denmark), HORIBA Ltd. (Japan), Teledyne Princeton Instruments (US), JASCO, Inc. (US), BaySpec (US), Spectra Analysis instruments (US), TeraView Ltd (UK), Microtech Instruments (US), EKSPLA (Lithuania), HÜBNER GmbH (Germany), and BATOP GmbH (Germany), Menlo Systems GmbH (Germany), Toptica Photonix AG (Germany), Advanced Photonix, Inc. (U.S.), and Advantest Corporation (Japan).