Terahertz technologies utilize the
terahertz range of the electromagnetic spectrum for applications like
inspection, scanning, and imaging. Terahertz imaging helps non-invasively
inspect sealed packages, identify foreign objects without interfering with
package integrity. It is used in medical applications like imaging tumors under
the skin, and detecting skin cancer without any contact.
The global
Terahertz Technologies Market is estimated to be valued at US$ 644.97 Mn in
2023 and is expected to exhibit a CAGR of 21. % over the forecast period 2023
to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of terahertz technologies in healthcare sector for
various medical applications is expected to be a key trend in this market.
Terahertz spectral imaging produces high resolution and high contrast images
that provide subsurface biological tissue differentiation capability. This
enhances tomographic capabilities for medical diagnosis including cancer
detection. Terahertz technology is being widely researched and validated for
its ability to aid in early detection of cancer. With benefits like safety of
non-ionizing radiation, improved contrast compared to other imaging modalities,
terahertz imaging is projected to transform healthcare applications further.
The technological advancements are also expected to reduce cost of terahertz
systems, thereby increasing adoption in healthcare and other sectors during the
forecast period.
Segment
Analysis
Terahertz Technologies Market is dominated by Terahertz Spectroscopy sub
segment. The growth of the Terahertz Spectroscopy sub segment is attributed
towards wide range of applications in various industries like pharmaceutical,
biomedical, security and others. Terahertz Spectroscopy allows the
identification and analysis of materials without contact through
electromagnetic absorption fingerprints which makes it highly demanded across
various application areas.
Key Takeaways
The global Terahertz Technologies market is expected to witness high growth
over the forecast period of 2023 to 2030. Global
Terahertz Technologies Market Size is projected to reach US$ 1.67 Bn by
2030, expanding at a CAGR of 21%.
Regional analysis shows that North America is currently the dominating region
in the Terahertz Technologies market and is expected to continue its dominance
over the forecast period as well. This is attributed to advancing healthcare
infrastructure and growing pharmaceutical industry in the region. Asia Pacific
region is expected to witness fastest growth over the forecast period owing to increasing
spending on security applications and growing semiconductor industry.
Key players operating in the Terahertz Technologies market are ID Quantique,
QuintessenceLabs, Toshiba Corporation, NEC Corporation, Qubitekk, MagiQ
Technologies, QuantumCTek, Quantum Xchange, Quantum Communication Technologies
AG, Post-Quantum, PQ Solutions Limited, Qasky, Quantum Machines, Quantum-Secure
Communications, Cambridge Quantum Computing. The key players are focusing on
new product launches and partnerships with technology providers and integrators
to strengthen their market position. For instance, in 2023 ID Quantique
partnered with QuintessenceLabs to deliver quantum-safe encryption solutions
globally.
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