Report : Asia Pacific Medical Terahertz Technology Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Terahertz Imaging and Terahertz Spectroscopy) and Application (Oncology, Dentistry, Dermatology, Tomography, Biochemistry, and Others)
At 16.9% CAGR, the Asia Pacific Medical Terahertz Technology Market is speculated to be worth US$ 101.84 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific medical terahertz technology market was valued at US$ 39.90 million in 2022 and is expected to reach US$ 101.84 million by 2028, registering a CAGR of 16.9% from 2022 to 2028. Rising demand for non-invasive technique for early detection of cancer and increasing use of terahertz technology in dental care are the critical factors attributed to the Asia Pacific medical terahertz technology market expansion.
THz instrumentation has substantially advanced recently, making THz imaging systems more accessible and user-friendly. THz systems can now be used by people who are not professionals in the field, considerably advancing the study of numerous prospective applications. There is growing interest in biomedical applications, including both in vivo and ex vivo research, because of the non-ionizing properties of THz light and its high sensitivity to soft tissues. Even when scars are hardly apparent to the naked eye, scar healing can be identified and seen using THz in vivo imaging. In recent years, coherent imaging based on THz QCL interferometry has become a viable alternative to either low frequency and high power or low power and wideband sources. It has been demonstrated that a THz QCL source operating at 2.59 THz with an emitted power ranging from 290 to 730 W can distinguish between various types of porcine tissue, including the epidermis, upper dermis, and lower dermis of the skin, muscle, and sub-dermal fat, as well as sub-surface features like blood vessels that are not visible on optical images.
The THz research and technology field exploded with the introduction of femtosecond laser-based THz time-domain spectroscopy (THz TDS) and THz imaging techniques. THz-TDS systems, for instance, have been used in practical applications such as detecting and identifying chemicals, explosives, drugs, and pharmaceuticals, as well as the non-destructive examination of pharmaceutical tablets. These applications go beyond basic science and include investigating various motion modes of molecules, crystal lattice vibration, optimizing materials for new solar cells, and others. Additionally, a vital technology for the subsequent generation of airport security scanners is the passive THz imaging approach.
Therefore, the advancement in terahertz technology for biomedical applications is expected to contribute significantly to the medical terahertz technology market growth during the forecast period.
On the contrary, challenges related to imaging resolution hurdles the growth of Asia Pacific medical terahertz technology market.
Based on type, the Asia Pacific medical terahertz technology market is segmented into terahertz imaging and terahertz spectroscopy. The terahertz imaging segment held 81.0% Asia Pacific medical terahertz technology market share in 2022, amassing US$ 23.42 million. It is projected to garner US$ 61.13 million by 2028 to expand at 17.3% CAGR during 2022–2028.
Based on application, the Asia Pacific medical terahertz technology market is segmented into oncology, dentistry, dermatology, tomography, biochemistry, and others. The oncology segment held 50.8% Asia Pacific medical terahertz technology market share in 2022, amassing US$ 14.70 million. It is projected to garner US$ 41.61 million by 2028 to expand at 18.9% CAGR during 2022–2028.
Based on country, the Asia Pacific medical terahertz technology market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 37.3% Asia Pacific medical terahertz technology market share in 2022. It was assessed at US$ 10.78 million in 2022 and is likely to hit US$ 29.32 million by 2028, exhibiting a CAGR of 18.1% during the forecast period.
Key players dominating the Asia Pacific medical terahertz technology market are Advantest Corporation; Insight Product Company; Luna Innovations Inc.; Menlo Systems GmbH; Microtech Instrument Inc.; Terasense Group Inc.; Teraview limited; and Toptica Photonics AG, among others.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email id: email@example.com