The global medical terahertz technology market was valued at USD 135.3 million in 2021 and it is anticipated to grow further till USD 656.4 million by 2031, at a CAGR of 17.1% during the forecast period.
The term terahertz (THz) refers to electromagnetic waves with frequencies roughly between infrared and millimetre waves, or from 300 GHz to 10 THz. THz radiation is significantly absorbed by intermolecular interactions, such as the hydrogen bonds in water and the N-H bonds in proteins. This means that it is particularly sensitive to little changes that could point to the presence of sickness, including an increase in blood flow or water content. With applications in biology and medicine, medical imaging, material spectroscopy and sensing, security, monitoring, and pharmaceutical industry spectroscopy, terahertz technology is a rapidly expanding discipline.
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Market Trends and Drivers
One of the technologies with the quickest rate of development is terahertz technology, which has applications in high-data-rate communications, material sensing and spectroscopy, medical imaging, and biology and medicine. Growing demand from the pharmaceutical industry for monitoring and spectroscopy application, surge in the adoption of terahertz systems in laboratory research, growing significance of terahertz technology for satellite computing and communication, and growing use of terahertz technology based scanners, cameras, and other devices in the medical, homeland security, and defence sectors are expected to improve the growth of the market.
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Global Medical Terahertz Technology Market Segmentation
- Terahertz Imaging
- Terahertz Spectroscopy
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Major Players in the Global Medical Terahertz Technology Market
The major key players analyzed in the report are Acal BFi Limited, Advantest Corporation, Teraview limited, Toptica Photonics AG, Terasense Group Inc., Microtech Instrument Inc., Menlo Systems GmbH, HÜBNER GmbH & Co. KG, Luna Innovations Inc., and Insight Product Company among others.
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