Medical Terahertz Technology Market Dynamics 2021 to 2031
The medical terahertz technology market size is projected to reach US$ 575.5 million by 2031 from US$ 157.8 million in 2023. The market is expected to register a CAGR of 17.7% during 2023–2031. Recent advances in terahertz technology for biomedical applications are likely to remain key trends in the market.
Medical Terahertz Technology Market Analysis
Terahertz (THz) radiation is used in dentistry as it can differentiate between different tooth layers. Terahertz imaging can detect flaws in tooth structure and dental caries in their earliest stages without posing an ionization risk like X-rays. THz rays are considered biologically harmless and are seen as the future of diagnosis in the medical and dental industries due to their lack of negative effects. Recent scientific research suggests that THz pulse imaging can provide valuable diagnostic data related to dentine, enamel, and pulp cavity. Many studies have shown that the time-of-flight of THz pulses through the tooth allows for extremely precise measurements, such as enamel thickness. It can also generate an image that shows the enamel and dentine. Additionally, THz pulse absorption in the tooth can be used to locate pulp cavity locations, aiding dentists in determining the best course of action. Therefore, the use of terahertz technology in dental care is bolstering the growth of the medical terahertz technology market.
Medical Terahertz Technology Market Overview
The medical terahertz technology market is estimated to grow with a CAGR of 17.7% from 2022-2028. The growth of the market is due to the increasing use of terahertz technology in dental care are and rising demand for non-invasive technique for early detection of cancer leading to increasing usage of medical terahertz technology. However, challenges related to imaging resolution associated with the use of medical terahertz technology is projected to hamper the market growth during the forecast period.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Medical Terahertz Technology Market: Strategic Insights
Market Size Value in US$ 135.29 million in 2022 Market Size Value by US$ 349.00 million by 2028 Growth rate CAGR of 17.1% from 2022 to 2028. Forecast Period 2022-2028 Base Year 2022
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Medical Terahertz Technology Market: Strategic Insights
| Market Size Value in | US$ 135.29 million in 2022 |
| Market Size Value by | US$ 349.00 million by 2028 |
| Growth rate | CAGR of 17.1% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Medical Terahertz Technology Market Drivers and Opportunities
Rising Demand for Non-Invasive Technique for Early Detection of Cancer to Favor Market
In many regions, cancer is the second leading cause of death, and current projections shows that this trend is likely to continue. The information obtained through THz-based scanning could have numerous advantages in the treatment of cancer patients and, more crucially, in the early diagnosis of various solid tumors because it can accurately differentiate between different types of molecules based on water content. According to the World Health Organization (WHO), in 2022, ~20 million new cancer cases and 9.7 million deaths caused by cancer were reported worldwide. Additionally, the latest estimates from WHO’s Global Cancer Observatory indicated that in 2022, 10 different types of cancer accounted for approximately two-thirds of new cancer cases and deaths worldwide. THz imaging devices can help detect cancer at an early stage, before it is noticeable by other methods. Tumor tissue has a higher refractive index and absorption coefficient than normal tissue, according to terahertz properties on colon, skin, breast cancer tissues. This differentiation is possible because of the higher water content and structural changes in carcinoma. For example, the terahertz pulse imaging approach is highly sensitive to water content, which can be noticed in the terahertz characteristics obtained for soft tissues, explaining the contrast found between muscle and adipose tissue. Therefore, T-ray images can differentiate between healthy tissue and basal cell carcinoma, helping to map the edges of early-stage tumors. Overall, the global reflecting population aging and burden of cancer incidence and death is increasing is the key cancer risk factors, are the factors driving the market growth.
Rapid Development of Coherent THz Sources
Due to recent technological advancements, it is now possible to produce and coherently detect THz radiation. This method has quickly gained recognition for its advantages in THz spectroscopy and imaging in biomedicine over the past decade. The applications of THz pulsed imaging (TPI) have sharply increased during this time. The terahertz (THz) free-electron laser (FEL) is an appealing source of coherent radiation due to its high power and adaptable picoseconds-pulse time structure.
Recent research and development have shown that free-electron laser (FEL) THz radiation is an attractive source of coherent radiation with applications in various fields, including medicine, communication, imaging, material science, biology, and diagnostics. The growing demand for biomedical diagnosis techniques has led to collaborative efforts across scientific fields to provide early, non-invasive, label-free detection by offering morphological, chemical, or functional information. Technology advancements have led to the research and verification of new contemporary diagnostic systems are complementary biomedical approaches to traditional method. These systems include a range of scales, from macromolecules to tissues and organs, presenting numerous opportunities for the future growth of the medical terahertz technology market.
Medical Terahertz Technology Market Report Segmentation Analysis
Key segments that contributed to the derivation of the medical terahertz technology market analysis are type and application.
- Based on type, the medical terahertz technology market is divided into terahertz imaging and terahertz spectroscopy. The terahertz imaging segment held a larger market share in 2023.
- By application, the market is segmented into oncology, dentistry, dermatology, tomography, biochemistry, and others. The oncology segment held the largest share of the market in 2023.
Medical Terahertz Technology Market Share Analysis by Geography
The geographic scope of the medical terahertz technology market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. The US holds a significant share of the medical terahertz technology market in North America. Terahertz technology is widely used to diagnose cancer. The increasing prevalence of cancer in the country will likely enhance the adoption of terahertz technology. As per the National Cancer Institute, In 2024, an estimated 2,001,140 new cases of cancer are expected to be diagnosed in the United States, with 611,720 people projected to die from the disease. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Medical Terahertz Technology Market Report Scope
Medical Terahertz Technology Market News and Recent Developments
The medical terahertz technology market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the medical terahertz technology market are listed below:
- Canon Inc. announced that the company has developed a terahertz device with a compact size and the world's highest output. Leveraging the semiconductor device design and manufacturing technology cultivated over its long history, the company has produced a device that realizes both high output and high directivity. In the years to come, terahertz technology is expected to be widely used in next-generation sensing and data transmission. (Source: Canon Inc., Press Release, January 2024)
- Researchers at UBC Okanagan's School of Engineering are working on advancing diagnostic imaging using spectroscopy. The researchers at UBCO's Integrated Optics Laboratory (IOL) are developing imaging systems that utilize terahertz radiation, which falls within the electromagnetic spectrum with frequencies between radio and visible waves. This technology has the potential to enable fast and accurate terahertz characterizations of biological specimens, which could ultimately aid in the development of effective technologies for cancer detection. (Source: AZoNetwork, Newsletter, August 2023)
Medical Terahertz Technology Market Report Coverage and Deliverables
The “Medical Terahertz Technology Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Medical terahertz technology market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Medical terahertz technology market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Medical terahertz technology market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the medical terahertz technology market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, ReE, RoE, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The North American region held the largest share of the medical terahertz technology market in 2023.
Factors such as the increasing use of terahertz technology in dental care and rising demand for non-invasive techniques for early cancer detection propel the medical terahertz technology market.
Recent advances in terahertz technology for biomedical applications will be the trend in the medical terahertz technology market
The medical terahertz technology market majorly consists of the players, including 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., Insight Product Company.
The medical terahertz technology market will be valued at US$ 575.5 million in 2031.
The medical terahertz technology market is estimated to record a CAGR of 17.7% till 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For