The global Microscope Market is projected to reach USD 12.7 billion by 2024, exhibiting a 7.8% CAGR over the forecast period. Magnification and visualization devices such as microscopes are an important part of scientific research and research and development activities. The newer industries such as polymer industry, nanotechnology, agriculture, and atomic science are the key customer of this device. The new technology advancements such as faster performance and easy sample preparation fuel the market growth for microscopes. The devices are capable of displaying images in high definition and 3-dimensional views.
The optical technology captures the highest market shares at academic institutes and scientific research institutes for cellular or subcellular imaging activities. The adoption of devices at academic institutes such as schools, colleges, universities, and private institutes and the growing research culture in developing countries as well as at small scale industries raises the product penetration. Another reason for industry growth is government and private organizations funding for research and technology development The price plays an important role in product acceptance, the affordable price of the device increases the product adoption. Thus, the above factors are the main driver for business growth.
The product is categorized into an optical, electron, and scanning probe microscopes. The electron microscope captures the highest shares due to its various applications and functions. Currently, the electron microscope dominates the marketplace.
With technological advancement, scanning probe microscopes are gaining popularity in the market space due to their accurate magnifying capacity at the atomic level giving sharp images. Thus, this segment is expecting the fastest growth over the forecast period.
The application segment is classified in material science, nanotechnology, life science, and semiconductors. The life science segment holds 29.22% of revenue share and dominates the industry followed by semiconductors.
With recent development in sciences, nanotechnology is gaining space in the industry. the recent research and developments in pharmaceuticals, chemicals, biotechnology, and other fields are boosting nanotechnological applications. Hence, this segment is anticipated to be the fastest-growing segment over the forecast period.
North America accounts for 34.13% revenue share in 2016. The largest share in North America is accounted for due to its strong economy, technological advancement, and high adoption rate in the region. In addition, the government provides heavy funding and investment in R&D, thus opening more opportunities for the market players.
The Asia Pacific incorporated growing economies such as India, Japan, and China. Japan is the largest manufacturer of technology products with a vast number of local manufacturers. The government initiatives such as project funding for R&D development and funding for the infrastructure development at the schools and colleges increase the market. Thus, this region is projected to be the fastest-growing over the forecast period.
The major player for the Microscope industry includes Hitachi High-Technologies Corporation, Asylum Research, FEI Company, Olympus Corporation, CAMECA Instruments, Nikon Corporation, Bruker Corporation, NT-MDT Company, Carl Zeiss AG, and JeoL Ltd.
The major players invest in research and development for better opportunities and industry growth. Mergers and acquisitions are the key strategies for market expansion.
Product Type Outlook (Revenue, USD Million, 2012 - 2024)
• Optical Microscopes
• Inverted Microscopes
• Phase Contrast Microscopes
• Fluorescence Microscopes
• Confocal Scanning Microscopes
• Near Field Scanning Microscopes
• Other Optical Microscopes
• Electron Microscopes
• Transmission Microscopes
• Scanning Electron Microscopes
• Scanning Probe Microscopes
Application Outlook (Revenue, USD Million, 2012 - 2024)
• Material Sciences
• Life Sciences
• Other Applications
Regional Outlook (Revenue, USD Million, 2014 - 2024)
• North America
• the U.S.
• the UK
• the Asia Pacific
• Latin America
• South Africa
Research Support Specialist, USA
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