The global microscopy devices market is expanding at a CAGR of 7.60% within a forecast period from 2014 to 2020. The market was valued at US$5.7 bn in 2013, from which it is expected to expand to US$9.7 bn by the end of 2020, according to a research report released by Transparency Market Research. The report, titled “Microscopy Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020”, is available on the company website for reference and sale.
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The report includes details on all the factors that drive and restrain the global microscopy devices market. The primary driver for the growth of the market is the leap in the rate of research and development carried out in advancing the technology used today. Innovativeness in the field of microscopy devices is being highly valued and novel approaches are being considered in order to create increasingly powerful and accurate microscopes.Other factors driving the global microscopy devices market are innovations carried forward in the field of semiconductor electronics. The semiconductor industry is rapidly expanding in emerging economies, further fueling the global microscopy devices market.
The microscopy devices market is broadly classified on the basis of product segments and application areas. Among the product segments, optical microscopes remain the most widely used segment with the largest share in the net sales across various companies, the global sales in 2013 being USD 2,235.1 million. This is probably because it is among the oldest segments of microscopy in sales. Besides optical microscopes, there are electron microscopes, scanning probe microscopes and other customized hybrids, arranged in decreasing order of their shares in global microscopes revenues. Among various applications of microscopy devices, life sciences industry was accounted for the largest market share of overall market in 2013, closely followed by semiconductors and material sciences segment. However, nanotechnology industry is forecast to grow at an impressive pace during the forecast period of 2014 to 2020.
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Geographically, Asia-Pacific was accounted for the largest share of global microscopy devices market in 2013 i.e. 40.9% followed by North America. This can be attributed to the growing investment in research and development in these regions by the respective governments of Asia. China for example, is at present the world’s second largest investor in research and development according to the World Bank data. This along with presence of numerous schools, universities and research institutions would translate to greater growth in the coming years for the Asia-Pacific region. The market for Asia-Pacific region is followed by the North American region.
The major players of this market include Leica Microsystems, Olympus, JEOL Company, FEI Company, Danish Micro Engineering A/S, Hitachi High Tech, Cameca SAS, Bruker Corporation, Carl Zeiss, NT-MDT and Nikon to name a few.