Medical Terahertz Technology Market Size and Growth by 2028

Medical Terahertz Technology Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Terahertz Imaging and Terahertz Spectroscopy) and Application (Oncology, Dentistry, Dermatology, Tomography, Biochemistry, and Others)

Publication Month : Jun 2022

  • Report Code : TIPMD00002019
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 190
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The medical terahertz technology market is expected to grow from US$ 135.29 million in 2022 to US$ 349.00 million by 2028; it is estimated to grow at a CAGR of 17.1% from 2022 to 2028.

Terahertz refers to the electromagnetic waves with the frequency range between millimeter-wave and infrared, approximately from 300 GHz up to 10 THz. Intermolecular bonds, such as the hydrogen bonds in water and the N-H bonds in proteins, strongly absorb THz radiation. This means that it is extremely sensitive to little changes, such as an increase in blood flow or water content, which may indicate the presence of disease. Terahertz technology is a fast-growing field with applications in biology and medicine, medical imaging, material spectroscopy and sensing, security, monitoring, and spectroscopy in the pharmaceutical business.

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Medical Terahertz Technology Market: Strategic Insights

terahertz-technology-market
Market Size Value inUS$ 135.29 million in 2022
Market Size Value byUS$ 349.00 million by 2028
Growth rateCAGR of 17.1% from 2022 to 2028.
Forecast Period2022-2028
Base Year2022
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The medical terahertz technology market is segmented on the basis of type, application, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. This report offers insights and in-depth analysis of the market, emphasizing parameters, such as market trends and market dynamics along with the competitive analysis of the globally leading market players. 

Lucrative Regions for Medical Terahertz Technology Market

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Market Insights

Rising Demand for Noninvasive Techniques for Early Detection of Cancer and Increasing Use of Terahertz Technology in Dental Care Drive Medical Terahertz Technology Market

Recent technological advancements have enabled the production and coherent detection of terahertz (THz) radiations. The use of this method has been appreciated in THz spectroscopy and imaging in biomedicine. The last 10 years have seen a sharp increase in the applications of THz pulsed imaging (TPI). The terahertz free-electron laser (FEL) is an appealing source of coherent radiation due to its high power and adaptable picoseconds-pulse time structure to use in THz pulsed imaging. The applications of free electron laser (FEL) THz are in various fields, including imaging, material science, biology and medicine, communication, and diagnostics.

The growing demand for biomedical diagnosis techniques that can offer morphological, chemical, or functional information for early, noninvasive, label-free detection has facilitated hard collaborations between various scientific fields. With gradual advancements in technologies, numerous new contemporary diagnostics systems are being researched and verified as complementary biomedical approaches to the traditional ones.

A few examples of developments that have promoted the growth of the medical terahertz technology market are listed below:

  • In 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. The product is used in dermatological research for beauty and healthcare.
  • In July 2021, the Hadatomo Z photoacoustic microscope of Advantest Corporation, a leading semiconductor test equipment supplier, received a Laser Industry Encouragement Award at the 13th Industry Awards, sponsored by the Laser Society of Japan.
  • In 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 1.8 W.

Product Insights

Based on application, the medical terahertz technology market is segmented into oncology, dentistry, dermatology, tomography, biochemistry, and others. The oncology segment is expected to hold the largest share of the market in 2022. Moreover, the same segment is anticipated to register the highest CAGR during the forecast period. Terahertz waves are electromagnetic waves with frequencies from 0.1 THz to 10 THz. Owing to their low ionization energy and ability to distinguish multiple proteins based on their spectrum fingerprints, THz waves offer enormous potential in biomedical applications, particularly in cancer diagnosis. The early identification and categorization of tumors may result in significant improvements in patient survival rates. Spectroscopic biomarker detection and tissue imaging are the two contemporary clinical cancer diagnostic methods. THz waves are well suited for high-accuracy in vivo and ex vivo inspection of tissue while inflicting little harm to healthy cells due to their nonionizing, noninvasive, and strong penetration properties. Additionally, spectral fingerprinting with THz waves can be employed in the qualitative and quantitative examination of cancer biomarkers. THz imaging for cancer tissue can discriminate between diseased & peritumoral tissues and normal tissues, providing surgeons with more information that can be used to remove cancerous and peritumoral tissues.

Medical Terahertz Technology Market, by Application – 2022 and 2028

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Services Insights

Based on type, the medical terahertz technology market is bifurcated into terahertz imaging and terahertz spectroscopy. The market for terahertz imaging is further segmented into active and passive. Further, the market for terahertz spectroscopy is subsegmented into time domain, frequency domain. The terahertz spectroscopy segment is anticipated to register the highest CAGR during the forecast period. The study of superconductors, plasmonic effects in conducting materials, and the rotating states of molecules are a few of the applications of terahertz frequencies in spectroscopy, because of its frequency range contains several fundamental resonances of materials. THz time-domain spectroscopy is also beneficial in biological macromolecule detection, cancer studies, and burn severity assessments. Thus, optical sampling can be used with a flexible time delay to capture the temporal structure of a transmitted pulsed terahertz signal. The Fourier transform is then employed to produce a spectrum quantitatively. Pulsed sources based on photoconductive antennas or nonlinear frequency conversion in nonlinear crystals often utilize terahertz sources. The measurement of amplitude and phase information, which is closely related to the absorption coefficient and index of refraction of tissues, is also made possible by THz spectroscopy.

Medical Terahertz Technology – Market Segmentation

The medical terahertz technology market is segmented on the basis of type, application, and geography. Based on type, the market is bifurcated into terahertz imaging and terahertz spectroscopy. Based on application, the medical terahertz technology market is segmented into oncology, dentistry, dermatology, tomography, biochemistry, and others. By geography, the medical terahertz technology market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).  

Company Profiles

  • Acal Bfi Limited
  • Advantest Corporation
  • Teraview limited
  • Toptica Photonics AG
  • Terasense Group Inc.
  • Microtech Instrument Inc.
  • Menlo Systems GmbH
  • HUBNER GmbH & Co. KG
  • Luna Innovations Inc.
  • Insight Product Company
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
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


What is the medical terahertz technology market?

Terahertz refers to the electromagnetic waves with the frequency range between millimeter-wave and infrared, approximately from 300 GHz up to 10 THz. The remaining area of the electromagnetic spectrum that has not been completely investigated and utilized is the THz spectrum, commonly referred to as the "Terahertz gap." With applications in biology and medicine, medical imaging, material spectroscopy and sensing, security, monitoring, and spectroscopy in the pharmaceutical business, terahertz technology is a fast-growing field.

What are the driving factors for the medical terahertz technology market across the country?

Factors such as the rising demand for non-invasive technique of early detection of cancer and increasing use of terahertz technology in dental care.

What are the restraining factors for the medical terahertz technology market across the country?

Challenges related to imaging resolution is expected to restrict the market growth during the forecast period

Who are the major players in market the medical terahertz technology market?

The medical terahertz technology market majorly consists of the players such as Acal BFi Limited, Advantest Corporation, Teraview limited, Toptica Photonics AG, Terasense Group Inc., Microtech Instrument Inc., Menlo Systems GmbH, HÃœBNER GmbH & Co. KG, Luna Innovations Inc., Insight Product Company.

Which segment is dominating the medical terahertz technology market?

The global medical terahertz technology market based on type, is segmented into terahertz imaging and terahertz spectroscopy. In 2022, terahertz imaging segment held largest market share and the segment is estimated to grow at the fastest CAGR of 16.8% during the forecast period.

Which region is dominating the medical terahertz technology market?

The global medical terahertz technology market on region, is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and the South & Central America. In 2022, North America region held largest market share and it is estimated to grow at the fastest CAGR of 17.3% during the forecast period

The List of Companies - Medical Terahertz Technology Market 

  1. Acal BFi Limited
  2. Advantest Corporation
  3. Teraview limited
  4. Toptica Photonics AG
  5. Terasense Group Inc.
  6. Microtech Instrument Inc.
  7. Menlo Systems GmbH
  8. HÜBNER GmbH & Co. KG
  9. Luna Innovations Inc.
  10. Insight Product Company

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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.

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