Medical Terahertz Technology Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 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.

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Medical Terahertz Technology Market: Strategic Insights

Medical Terahertz Technology Market

• 
  CAGR (2023 - 2031)

  17.7%
• Market Size 2023
  US$ 157.8 Million
• Market Size 2031
  US$ 575.5 Million

Market Dynamics

GROWTH DRIVERS

• Increasing Use of Terahertz Technology in Dental Care Drives the Medical Terahertz Technology Market

FUTURE TRENDS

• Rising Demand for Non-Invasive Technique for Early Detection of Cancer Drives the Medical Terahertz Technology Market

OPPORTUNITIES

• Rapid Development of Coherent THz Sources presents various opportunities for the future growth of medical terahertz technology market players

Key Players

• Acal BFi Limited
• Advantest Corporation
• Teraview Limited
• Toptica Photonics AG
• Terasense Group Inc
• Microtech Instrument Inc
• Menlo Systems GmbH
• H BNER GmbH Co KG
• Luna Innovations Inc
• Insight Product Company

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Terahertz Imaging
• Terahertz Spectroscopy

Application

• Oncology
• Dentistry
• Dermatology
• Tomography
• Biochemistry

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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

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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