(I-BusinessNews.Com, January 15, 2020 ) Microscopy technologies have experienced great advancements since their creation. The technology has evolved to allow visualization of tiny as well as nano particles. With growing importance of nanotechnology and the need from researchers for better understanding of materials at a microscopic level, the demand for advanced microscopes has increased multifold over the years. Meticulous ResearchÂ® in its latest publication on Microscopy Market states that the global microscopy market will increase at a CAGR of around 6.4% from 2019 to 2025 to exceed $10.25 billion by 2025.
The growth in the microscopy market is mainly attributed to technological advancements allowing faster performance and easy sample preparation, increasing application areas of microscopy, growing efforts for early drug discovery, and increasing funding for advanced microscopy by private players and government organizations. In addition, untapped potential of microscopy in emerging economies, integration of microscopy with spectroscopy, and rising applications of microscopy in polymer and agriculture industries offer significant growth opportunities for players operating in the microscopy market.
To provide efficient analysis, Meticulous ResearchÂ® has segmented this market on the basis of Product (Microscopes, Accessories), Type (Optical Microscope, Electron Microscope, AFM, STM, NSOM), Application (Semiconductor, Nanotechnology, Electronics, Material Sciences), End User (Industrial, Research Institute) and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
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Wherein, geographically, North America commanded the largest share of the microscopy market followed by Europe. The major share of North America is mainly attributed to the availability of the advanced microscopy technologies and systems offered by the leading players, high R&D expenditures, and presence of a large number of academic institutes and universities in the region. Growing government research funding in the region, along with increasing investments from private players are supporting the growth of the microscopy market in North America.
In terms of product, microscopes commanded the largest share of the microscopy market in 2018 due to the growing adoption of advanced microscopes, rapid expansion of life sciences industry in emerging markets, and growing application of microscopy across the industries. However, the software market is expected to register the fastest growth during the forecast period owing to increasing demand for advanced image acquisition and analysis solutions by end users.
On the basis of type, electron microscopes are expected to witness fastest growth owing to its higher refining and resolving power that provides enhanced image output. Growing applications of electron microscopes in nanotechnology and semiconductor industry is further expected to drive the demand for electron microscopes over the coming years.
In terms of applications, the material sciences segment is expected to register the fastest growth during the forecast period owing to the increasing focus on research in material sciences. Optical microscopes and SEM are the most commonly used microscopes in the material science research for structural and chemical analysis of samples.
On the basis of end users, the industrial end user segment comprising private and commercial enterprises using microscopy for research as well as in production processes is expected to witness the fastest growth during the forecast period. High capital spending capabilities and expansion in the production of micro and nanoparticles in the semiconductor, electrical, and material industries are supporting the growth of this segment.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including 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).
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In coming years, adoption of microscopy is expected to increase in polymer industry, agriculture, nanotechnology, and atomic studies. At technological front, there is growing focus towards development of smart microscopes and integration of AI in microscopy which will further drive new product launches and hence the market growth. For instance, IBM is developing AI-powered robot microscopes to monitor the condition of the natural resource.
Key questions answered in the report:
Rising adoption of microscopes in developing countries will propel the overall Microscopy Market
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?
Industries accounted for the largest share of the microscopy market globally
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?
Microscopy market favours both larger and local manufacturers that compete in multiple segments
What are the top competitors in this market and what strategies do they employ to gain shares?
What is driving growth and which market segments have the most potential for revenue expansion over the forecast period?
What strategies should new companies look to enter this market to compete effectively?
What are the major drivers, restraints, opportunities, and challenges in the microscopy market?
Who are the major players in various countries and what share of the market do they hold?
What are the geographical trends and high growth regions/ countries?
Recent partnerships, acquisitions, and expansions have taken place in the global Microscopy market
What companies have recently merged/acquired and how will these unions affect the competitive landscape of the microscopy market?
What companies have created partnerships and how will these partnerships promote a competitive advantage?
Who are the major players in the global microscopy market and what share of the market do they hold?
What are the local emerging players in the global microscopy market and how do they compete with the global players?
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