The North America medical terahertz technology market is expected to grow from US$ 54.65 million in 2022 to US$ 142.26 million by 2028. It is estimated to grow at a CAGR of 17.3% from 2022 to 2028.
Rising Demand for Non-Invasive Technique for Early Detection of Cancer is Driving the North America Medical Terahertz Technology Market
In many regions, cancer is the second greatest cause of death, and current projections indicate that the trend is likely to grow. Digestive malignancies account for a significant fraction of all tumors, and their occurrence is predicted to rise faster than other tumor types due to bad lifestyle habits. The information obtained by THz-based scanning could have multiple advantages in the care of cancer patients and, more crucially, in the early diagnosis of various solid tumors because it can correctly differentiate between different types of molecules depending on water content. Recent advances in medical imaging substantially improved the early detection and treatment of various clinical disorders. THz imaging devices can aid in detecting early cancer before it becomes apparent or detectable by other means. The refractive index and absorption coefficient of tumor tissue are higher than normal tissue, according to terahertz properties on skin, breast, and colon cancer tissues. Such differentiation is possible because of the greater water content and structural alterations in carcinoma. For instance, the terahertz pulse imaging approach is particularly sensitive to water content (due to attenuation), water absorption can be noticed in the terahertz characteristics obtained for soft tissues; this explains the contrast found between muscle and adipose tissue. As a result, T-ray pictures can discriminate between healthy tissue and basal cell carcinoma, assisting in mapping early-stage tumor edges.
Medical Terahertz Technology Market Overview
The North America medical terahertz technology market has been segmented into the US, Canada, and Mexico. The US held the largest share of the North America medical terahertz technology market in 2022. The technological advancements across North America have led to a highly competitive market. The regional companies are continuously enhancing the overall business processes to meet customers’ demand for high-quality products and services in the best possible way. The presence of major market players, high R&D spending, and government grants for research institutes to develop new technological equipment are prominent factors that propel market growth. Moreover, the presence of large healthcare businesses and the growing adoption of advanced technologies propel the market’s expansion in this region.
The presence of major market players in the US offering medical terahertz systems is likely to favor market growth. For instance, Terasense Group Inc. is a leading manufacturer of innovative portable terahertz (THz) imaging systems, Terahertz imaging cameras, THz sources, and THz detectors. It offers a cutting-edge technological product portfolio and several competitive advantages. These factors are anticipated to boost the US medical terahertz technology market growth during the forecast period.
North America Medical Terahertz Technology Market Revenue and Forecast to 2028 (US$ Million)
North America Medical Terahertz Technology Market Segmentation
The North America medical terahertz technology market is segmented into type, application, and country.
Based on type, the North America medical terahertz technology market is segmented into terahertz imaging and terahertz spectroscopy. The terahertz imaging segment held the largest share of the North America medical terahertz technology market in 2022.
Based on application, the North America medical terahertz technology market is segmented into oncology, dentistry, dermatology, tomography, biochemistry, and others. In 2022, the oncology segment is likely to hold the largest share of the North America medical terahertz technology market.
Based on country, the North America medical terahertz technology market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
Advantest Corporation; Insight Product Company; Luna Innovations Inc.; Menlo Systems GmbH; Microtech Instrument Inc.; Terasense Group Inc.; Teraview limited; and Toptica Photonics AG are the leading companies operating in the North America medical terahertz technology market.