Microscopy Market is expected to grow at a CAGR of 6.4% from 2019 to reach $10.25 billion by 2025.
Meticulous Research® – a leading global market research company has published a market research report titled “Microscopy Market by Product (Microscopes, Accessories), Type (Optical Microscope, Electron Microscope, AFM, STM, NSOM), Application (Semiconductor, Nanotechnology, Electronics), End User (Industrial, Research Institute) – Global Forecast to 2025”
The Global Microscopy Market is expected to grow at a CAGR of 6.4% from 2019 to reach $10.25 billion by 2025.
Favourable funding for R&D and greater adoption of advanced microscopy is impelling the growth of microscopy market
With growing importance of nanotechnology and need for researchers for better understanding of materials at a microscopic level, there is a rising demand for advanced microscopes. Some of the recent funding activities for the development and acceptance of advanced microscopes are as below:
In May 2018, the National Institutes of Health (NIH) announced efforts to broaden biomedical scientists’ access to cryo-electron microscopy (cryo-EM) by funding $129.5 million for the development of three national cryo-EM service centers in the U.S.
In April 2018, the Netherlands Organization for Scientific Education (NWO) planned to allocate grants of more than 17 million Euros for further development of a Dutch network for electron microscopy (NEMI)
In August 2017, German state and federal governments agreed on funding for a high-resolution microscopy center in Heidelberg. The center would also receive 10 million Euros from Thermo Fisher Scientific, Leica, and ZEISS
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Accessories & software segment to witness fastest growth through 2025
On the basis of product type, the market is segmented into microscopes, and accessories & software. In 2018, microscopes accounted for the largest share of the global microscopy market. However, accessories & software segment is expected to register the highest growth rate due to the development of novel image acquisition software for microscopes, and frequent use of accessories
Electron microscopes to provide significant growth opportunities
On the basis of type, the global microscopy market is segmented into optical microscopes, electron microscopes, scanning probe microscopes, and other microscopes. While optical microscopes dominate the market, electron microscopes are rapidly gaining traction. This segment is expected to witness fastest growth owing to its higher refining and resolving power that provides enhanced output image ranging up to several nanometers; favorable funding for its R&D; and growing application in nanotechnology and semiconductor fields.
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Asia-Pacific: Fastest Growing Regional Market
North America commanded the largest share of the global microscopy market in 2017, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. However, Asia-Pacific region is poised to be the fastest growing regional market due to growth in research activities, low material costs, and growing expertise and academic excellence in emerging APAC countries such as China and India. In addition, presence of giant players in countries such as Japan coupled with increasing number of local manufacturers in countries like China and India are expected to spur the growth of microscopy market in APAC.
Key players in the microscopy market
In the global microscopy market, the key players are diligently working towards the improvement of technology and are adopting various organic and inorganic growth strategies in order to strengthen their presence and customer base. For instance, in July 2018, Hitachi High-Technologies launched the Transformative Schottky Field Emission Scanning Electron Microscope that incorporates large specimen chamber, enhanced versatility, and high throughput with simultaneous acquisition as well as analysis of various signal types. Similarly, in October 2018, Nikon Corporation (Nikon) launched the CFI S Plan Fluor LWD 20XC and CFI S Plan Fluor LWD ADM 20XC objectives for biological microscopes. These objectives are effective in research utilizing stem cells and drug design research.
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The key players operating in the global microscopy market are Carl Zeiss (Germany), Danaher Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Nikon Instruments Inc. (Japan), Bruker Corporation (U.S.), Olympus Corporation (Japan), Oxford Instruments (U.K.), JEOL Ltd. (Japan), and Hitachi High-Technologies Corporation (Japan).
Key questions answered in the report:
How does the adoption of microscopy technology in developed regions differ from developing countries like India and China?
How is the competition between the major global and prominent local players in this market?
Which are the high growth market segments in terms of product, type, application, end users, regions, and countries?
What factors contribute to the frequent usage of microscopy in industries?
Which geographic segment is expected to experience the fastest growth in the usage of microscopes in industries, academic & research institutes, and other end users?
How does the penetration of microscopes in industries differ from other end users such as academic & research institutes?
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