(MENAFN- America News Hour)Kenneth Research has recently added a report titled Terahertz Components and Systems market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Terahertz Components and Systems market is further anticipated to grow with a CAGR of 26.8% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Terahertz Components and Systems Market is estimated to reach $433.6 Million by 2024 with CAGR of 26.8% between 2016 and 2024. Research and development into terahertz technology have been receiving high attention around the world. Terahertz waves also called as undeveloped electromagnetic waves fall between radio waves and light in the frequency spectrum and have the ability to pass through cloths, cardboard, paper, masonry, wood, plastics, and ceramics. The sources for terahertz are thermal (lamp bodies), electrical (gunn diodes, backward wave oscillators), and optical or laser based, among others. They are highly used in remote sensing, astronomy, medical testing, drug detection, and communications among others.
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Major drivers of global terahertz components and systems market are Increasing application of terahertz technology across several sectors, improved use of this technology in laboratories, expanding utilization of terahertz in medical imaging & non-destructive testing. Though, limitation in penetration depth into materials and disability to focus on spot sizes below 100 micrometer may hinder the growth of the market. Additionally, increasing applications in various sectors & technologies with inexpensive small radiation devices and detectors would provide growth opportunity in the upcoming years.
The global terahertz components and systems market is segmented into components, systems, applications and geography. Component type is further bifurcated into terahertz sources, terahertz detectors and others. Systems are segmented into system based on spectroscopy (time-domain spectroscopy, frequency domain spectroscopy and imaging by scanning), terahertz radar and terahertz sensing. Furthermore, applications are segmented into industrial process monitoring, research laboratory application, medical imaging, non-destructive testing and others.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Italy, France, Germany and others. Asia-Pacific covers China, India, Japan, South Korea and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Key players of terahertz component and systems market include EMCORE Corporation, Digital Barriers Plc., Microtech Instruments Inc., NEC Corporation, Bridge12 Technologies, Inc., Digital Barriers PLC, Applied Research & Photonics Inc., M Squared Lasers Ltd, Bruker Corporation and Menlo Systems GmbH.
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The key takeaways from the report
The report will provide detailed analysis of Terahertz Components and Systems Market with respect to major segments such as components, systems and applications type of the market
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Terahertz Components and Systems market will be included in the report
Profile of the key players of the Terahertz Components and Systems market, will be provided, which include key financials, product & services, new developments, and business strategies
Scope of Terahertz Components and Systems Market
Component Type Segments
Terahertz Sources
Terahertz Detectors
Other Components
System Type Segments
Spectroscopy
Time-Domain Spectroscopy
Frequency Domain Spectroscopy
Imaging By Scanning
Terahertz Radar
Terahertz Sensing
Terahertz Radar
Terahertz Sensing
Application Segments
Industrial Process Monitoring
Research Laboratory Application
Medical Imaging
Non Destructive Testing
Other Applications
Geography Segments
North America
US
Canada
Mexico
Europe
U.K.
Italy
France
Germany
Others
Asia-Pacific
China
India
Japan
South Korea
Others
RoW
South America
Middle East
Africa
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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