Global Microscopy Market Size & CAGR (2021 to 2026)
In 2021, the global microscopy market was worth USD 6.52 billion, and it is expected to expand at a CAGR of 6% and be worth USD 8.72 billion by 2026.
Impact of COVID-19 on the global microscopy market:
The effects of the coronavirus epidemic and the resulting nationwide lockdowns may be seen in various businesses, including the global microscopy market. As a result, the overall expansion of many sectors has been severely hampered, particularly in nations where COVID-19 is prevalent. Furthermore, a widespread health crisis could have a detrimental influence on many countries’ economies and financial markets, resulting in an economic slowdown or worldwide recession that could impair product demand and significantly impact operating performance.
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KEY DRIVING FACTORS:
Growing number of technological advancements & increased investments are estimated to accelerate the global microscopy market’s growth rate during the forecast period.
Digitization, live-cell imaging, super-resolution, and high-throughput technologies are examples of technological advances in microscopy. These developments help to lower product and testing expenses. Expansion microscopes, scanning helium microscopes (SHeM), multi-view microscopes, and integrated microscopy processes are examples of recent innovations in microscopes. In the microscopy market, digital microscopy is the most recent development. Digital imaging provides higher image resolution and precision, resulting in fewer distorted images and improved sample viewing. The public and business sectors are increasingly funding life science research investigations.
Other factors that are expected to fuel the growth of the global microscopy market include the expansion of semiconductor industries in most emerging nations and an increase in research and development activities initiated by schools, governments, universities, and research institutions across developing regions.
Lack of skilled professionals & well-established networks among organizations are expected to impede the market’s growth rate.
Because advanced microscopes are so complex, a scarcity of experienced people is a significant barrier to their use and adoption. Medical laboratory technologists and technicians will be in high demand in the future. Several small and medium-sized businesses specialize in specialty technology. Due to budgetary constraints, SMEs, in particular, are having difficulty marketing and distributing equipment. This may have a negative impact on their revenue and market viability. Imaging microscopy becomes a barrier as a result of this.
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KEY MARKET INSIGHTS:
- Based on the product, the microscopes segment is expected to grow significantly during the forecast period. The introduction of new image capturing technology for microscopes has become a recent industry trend. In addition, increased work in the life sciences and other application disciplines has generated a significant volume of data, owing to advances in image quality.
- Based on the type, in 2020, the electron microscope segment dominated the market of total sales. In contrast to optical microscopes, electron microscopes use an accelerated electron beam as a source of illumination. Electron microscopes have a high resolving power because of the shorter wavelength of electrons compared to visible light. Because electron microscopes are more expensive than optical microscopes, they are primarily used by industries and established research laboratories.
- Based on the application, the Semiconductor application accounted for the majority of the global microscopy market share in 2020. Microscopy is widely utilized for R&D, quality control, monitoring, process development, and failure analysis in the semiconductor business. Therefore, the semiconductor industry’s demand for microscopes is driven by this factor and the increased demand for small transistor chips, nanoelectronics, quantum dots, and optoelectronics.
- Based on the end-user, The industries segment held the highest proportion of the microscopy market in 2020. It’s also the one that’s expanding the fastest. The extensive use of light and electron microscopes in industries for identification and particle analysis, material characterization, process control, quality control, and failure analysis is a significant factor driving the market growth.
- Based on the region, in 2020, Asia Pacific will lead the global microscope market, with a revenue share of more than 45%. The presence of leading manufacturers in nations like Japan and a growing number of local producers in countries like China and India are driving the regional market forward. Over the projected period, the market is expected to be fueled by an ever-increasing number of healthcare institutions, a rising need for diagnostic centers, and expanding R&D projects.
- With many local players competing against multinational competitors, the market is tremendously fragmented. To stay competitive in the industry, significant businesses are focusing more on researching and developing new products. Major market players use various methods to preserve their dominance, including high R&D activity, global expansion strategies, broad product offers, and frequent introduction of advanced versions of existing items. Carl Zeiss AG, Danaher, Nikon Corporation, Bruker, Olympus Corporation, Oxford Instruments, JEOL Ltd, Thermo Fisher Scientific Inc., Hitachi High-Tech Corporation are all important participants in the microscopy market.
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RECENT MARKET DEVELOPMENTS:
- In July 2021, the ZEISS Xradia 3D X-ray platforms received the ZEISS DeepRecon Pro, and ZEISS PhaseEvolve reconstruction technologies.AI will be used in these technologies to better data collection and processing, which will speed up decision-making.
- Oxford Instruments plc (UK) opened a new online store in North America, Europe, and Asia in January 2021 for a wide range of products, including consumables, parts, training, and digital products.
- The Leica Nano workflow, a new live-cell correlative light and electron microscopy (CLEM) workflow system aimed to boost experimental success rates, improve reproducibility, and simplify light and electron microscopy (EM) integration, was announced Danaher Corporation in June 2021.
- Vivo has established a cooperation with Carl Zeiss, a well-known optoelectronics producer, for the year 2020. As part of the deal, the smartphone maker will utilize the latter’s renowned lens technology in its cameras.
SEGMENTS COVERED IN THIS REPORT:
- Optical Microscope
- Electron Microscope
By End User:
- Research Institutes
- Blood Bank
- North America
- Latin America
- Middle East and Africa
BROWSE REGIONAL REPORTS:
- North America Microscopy Market
- Europe Microscopy Market
- APAC Microscopy Market
- Latin America Microscopy Market
- MEA Microscopy Market
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