Microscopy Devices Market Size, Growth and Trends Analysis By Type (Optical Microscopes, Electron Microscope, Scanning Probe Microscope (SPM), Application (Life Science, Material Science, Pathology), Key Players and Region, Forecast to 2022
The Global Microscopy Devices Market size is estimated to attain a market valuation of USD 10.5 billion at a CAGR of 7.8% over the forecast period of 2016-2022, says Market Research Future (MRFR). The North America microscopy devices market is likely to register a CAGR of 11.5% followed by APAC is expected to capture a CAGR of 7.3% during the forecast period. Industries such as semiconductor, nanotechnology, and various branches of science are increasingly leveraging microscopy devices for research purposes which are fostering the growth of the microscopy devices market.
The growth of the global microscopy devices market stems from its wide-ranging applications across diverse industries. The expansion of the inter-related industries such as semiconductor in the developing countries is driving the growth of the global microscopy devices market. Recent years have witnessed a surge in R&D activities on a massive scale by universities, research institutions, governments, and other bodies which induce greater demand for microscopy devices. Funding for R&D activities by both public and private sector further creates a conducive environment for the market growth.
Increase in nanotechnology research is a major factor driving the growth of the global microscopy devices market. Microscopy devices are the very basic component which allows things to be scrutinized on the Nano scale. Nanotechnology research requires some of the most powerful microscopes and increase in nanotechnology research activities have spurred the demand for microscopy devices.
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Furthermore, technological advancements in microscopy devices have resulted in the development of advanced, powerful microscopes which is likely to present growth opportunities to the global microscopy devices market. Other factors substantiating the growth of the market include emerging niche applications of microscopy devices.
On the other hand, the high cost of microscopy devices is anticipated to be a bottleneck o the growth of the global microscopy devices market.
Microscopy Devices Market Segmentation:
The global microscopy devices market is segmented based on type, application, and end user.
By type, the global microscopy devices market is segmented into Optical Microscopes, Electron Microscope, and Scanning Probe Microscope (SPM).
By application, the global microscopy devices market is segmented into Life Science, Material Science, Pathology, and Nanotechnology.
By end user, the global microscopy devices market is segmented into Hospitals & Clinics, Academic & Research Institutes, and Diagnostics Centers.
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By region, the global microscopy devices market has been segmented into Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW).
APAC commands the highest microscopy devices market share globally. The prolific growth of the semiconductor industry in the region reflects favorably on the growth of the market. In addition, an increase in a number of R&D activities and nanotechnology research purveyed by growing investment in research & development activities can be credited for the growth of the market.
North America market is driven by the presence of advanced healthcare institutes in the region which generate high demand for microscopy devices.
Europe too is a significant market driven by the presence of a number of research institutions in the region and rigorous R&D activities in the region. Furthermore, the region is investing heavily on microscopy devices which acts as a plus for the market growth.
The noteworthy players in the global microscopy devices market include Meiji Techno, Olympus Corporation, Bruker, Mauna Kea Technologies SA, Icon Analytical Equipment Pvt. Ltd, Woodley Equipment Company Ltd, Radical Scientific Equipments Pvt Ltd., Leica Microsystems, Nikon Metrology NV, Sonix, Inc., Konan Medical USA Inc., FEI, Carl Zeiss, and NIDEK Inc.
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