Medical Terahertz Technology Market Analysis and Forecast to 2031: By Type (Terahertz Imaging, Terahertz Spectroscopy), Application (Oncology, Dentistry, Dermatology, Tomography, Biochemistry, Others), and Region

Medical Terahertz Technology Market Analysis and Forecast to 2031: By Type (Terahertz Imaging, Terahertz Spectroscopy), Application (Oncology, Dentistry, Dermatology, Tomography, Biochemistry, Others), and Region

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.

Global Medical Terahertz Technology Market Scope and Report StructureMarket 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.

Market Restraints and Challenges

The main constraints that could impede the market's growth, however, are a lack of knowledge about terahertz technology and the high initial cost of R&D efforts.

Global Medical Terahertz Technology Market Segmental Overview

The report analyses the global medical terahertz technology market based on the type, application, and region.

Global Medical Terahertz Technology Market by Type

Based on the type, it is segmented into terahertz imaging and terahertz spectroscopy. The terahertz imaging segment is anticipated to dominate the market during the forecast period. One of the most promising methods in biological science is terahertz imaging. THz imaging is superior to conventional techniques for imaging biological tissues because THz waves are sensitive to polar chemicals, like water, in biomolecules. THz imaging has a spatial resolution that can go up to many tens of micrometres. Its potent penetrating ability can be used for biological system tomography. The refractive index and absorptivity of human blood, muscle, skin, fat, vein, and even nerve tissue were measured using THz. The results showed that THz had acceptable tissue identification for different tissues, which backed up the clinical applicability of THz.

Global Medical Terahertz Technology Market by Application

Based on the application, it is segmented into oncology, dentistry, dermatology, tomography, biochemistry, and others. The oncology segment is anticipated to dominate the market during the forecast period. Electromagnetic waves called terahertz (THz) waves have frequency between 0.1 and 10 THz. THz waves have a tremendous amount of potential in the biomedical field, notably in the diagnosis of cancer, because of their low ionisation energy and capacity to identify the majority of proteins based on their spectrum fingerprints. Early tumour detection and classification can dramatically increase the patient survival rate. The two most recent clinical cancer diagnostic techniques are tissue imaging and spectroscopic biomarker identification. Due to their nonionizing, noninvasive, and strong penetration qualities, THz waves are highly suited for high-accuracy in vivo and ex vivo tissue inspection while causing little injury to healthy cells.

Geographical Analysis of the Global Medical Terahertz Technology Market

Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. Similarly, Asia Pacific region is anticipated to witness the fastest growth during the forecast period. This growth can be primarily attributed to the expansion of the Chinese economy, as China plans to modernize its economic infrastructure and increase the number of industries. Adding to these, Chinese scientists are focusing on developing new technologies based on terahertz technology.

Major Players in the Global Medical Terahertz Technology Market

The major key players analyzed in the report are

COVID-19 Impact

The market for terahertz technology is anticipated to expand its applications in healthcare, biomedicine, and security as a result of the COVID-19 epidemic. The outbreak has prompted a lot of research and development in the healthcare industry to find the right technology to detect the virus, which has accelerated the market expansion under study.

Additionally, COVID-19 has changed security procedures because it has made "patdowns" on individuals unsafe. Passive terahertz technology created by the ESA makes it possible to identify anything concealed beneath garments from a distance. The UK company ThruVision has commercialised the technology, and among its clients are airports, LA Metro, and the US Customs and Border Protection (CBP) Agency at certain significant southern border crossing points.

Recent Development

• April 2022, TeraSense announced its new IMPATT-based generator, a powerful wave source at 94GHz with the output power ranging from 0.08 W to 1.8W.
• April 2022, Advantest Corporation introduced a new 3D image viewer-Euclid-for its Hadatomo series of photoacoustic microscopes. The device easily creates tomographic images, and displays 3D images by superimposing data by a Hadatomo tool about skin melanin, vascular network, and skin structure.
• July 2021, the Hadatomo Z photoacoustic microscope of Advantest Corporation, received a Laser Industry Encouragement Award at the 13^th Industry awards, sponsored by the Laser Society of Japan.

Frequently Asked Questions

Q1. How big is the Medical Terahertz Technology market?Ans. The global Medical Terahertz Technology market size was USD 135.3 Million in 2021 and is anticipated to reach USD 656.4 Million in 2031, growing at a rate of 17.1% from 2022 to 2031.Q2. What is the Medical Terahertz Technology market growth rate?Ans. The growth rate of the Medical Terahertz Technology market is 17.1%.Q3. Which region holds a major market share for the Medical Terahertz Technology market?Ans. North America holds a major market share of the Medical Terahertz Technology market in 2021.Q4. Which segment accounted for the largest Medical Terahertz Technology market share?Ans. By End User, the hospitals segment accounted for the largest Medical Terahertz Technology market share.Q5. Who are the key players in the Medical Terahertz Technology market?Ans. The global Medical Terahertz Technology market report includes players such as Q6. What are the factors driving the Medical Terahertz Technology market growth?Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.Q7. What are the key growth strategies of Medical Terahertz Technology market players?Ans. The key growth strategies of Medical Terahertz Technology market players are product launch and product approval.Q8. Which region will provide more business opportunities for the Medical Terahertz Technology market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the Medical Terahertz Technology market during the forecast period.

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