Dublin, Oct. 25, 2021 (GLOBE NEWSWIRE) -- The "Global Terahertz Technology Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global terahertz technology market is evaluated at US$294.676 million for the year 2019 and is projected to grow at a CAGR of 25.93% reaching a market size of US$1,480.070 million by the year 2026. Terahertz radiation refers to the electromagnetic waves propagating at frequencies in the terahertz range. It is used as an indicator of the frequency of infrared, visible, and ultraviolet radiation. The use of terahertz technology is increasing because of its ability to penetrate through a wide variety of dielectric materials apart from its non-ionizing and minimal effect on the human body.
Key Market Drivers
The technology is highly adopted in the pharmaceutical sector over the years. Moreover, Dental caries or tooth decay is one of the most common human disorders. Carries proceed by the creation of a subsurface lesion in the enamel. Terahertz imaging can distinguish between the different types of tissue in a human tooth; detect carries at an early stage in the enamel layers of human teeth and monitor early erosion of the enamel at the surface of the tooth. The adoption of this technology into several sectors will drive the market during the forecast period.
The market has been significantly driven by the increasing health expenditures done by several governments in order to enhance the technological advancements in the sector.
COVID-19 impact on terahertz technology market
The advent of COVID-19 had a positive impact on the terahertz technology market given the rise in the applications in the healthcare sector during the year 2020. With the outbreak of the COVID-19, the terahertz technology market is expected to witness growth with its major application in healthcare, biomedical, and security application.
Increasing applications in the pharmaceutical sector are expected to fuel the market during the forecast period.
The technology has been rapidly adopted in the pharmaceutical sector over the years. Firstly, to determine coating integrity and thickness, detect and identify localized chemical or physical structure. Additionally, the technology is also being used to detect impurities. The manufacturing of pharmaceutical products is a highly monitored process that requires strict quality regulations. If the final product fails to meet the standard set by regulatory agencies, then the whole batch is destroyed. This encourages the pharmaceutical industry to work on batch-processing techniques. Typically, pharmaceutical companies manufacture a finished product and then use laboratories to analyze a proportion of the batch to verify the quality of their product. Terahertz radiation has the ability to obtain information on chemical and physical structures and is able to accomplish this in real-time in a non-destructive form. This shows potential for the pharmaceutical industry as it is able to specifically determine the structure and properties of the sample to test, such as the bioavailability, manufacturability, purification, stability, dissolution rate, solubility, and other performance characteristics of the drug.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Terahertz Technology Market Analysis, by Type
5.2. Terahertz Imaging
5.3. Terahertz Communication System
5.4. Terahertz Spectroscopy
6. Terahertz Technology Market Analysis, by Sources
6.2. Laser Sources
6.3. Semiconductor Sources
7. Terahertz Technology Market Analysis, by End-user Application
7.3. Food & Agriculture
7.4. Defense & Security
8. Terahertz Technology Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. TeraView Limited
10.2. TOPTICA Photonics AG
10.3. HUBNER GmbH & Co. KG
10.4. Advantest Corporation
10.5. Batop GmbH
10.6. Terasense Group Inc.
10.7. Microtech Instrument Inc.
10.8. Menlo Systems GmbH
10.9. Gentec Electro-optics Inc.
10.10. Bakman Technologies
For more information about this report visit https://www.researchandmarkets.com/r/7uykkw
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