Microscopy Devices Market size in 2019 is estimated to be $ 6,218 Million, growing at a CAGR of 8% during the forecast period 2020-2025. Microscopy is a term allocated to the science of applying microscope to view the objects which lie outside the resolution range of human eye. The microscopes play a key role in the identification of micro-objects, research and development across diverse fields in electronics, mechanical and life sciences. Increasing prevalence of ocular disorders and technological advancement are the major factors driving the growth of the market. Moreover, rising disposable income and advancement of R&D activities further enhance the overall market demand for microscopy devices during the forecast period 2020-2025.
Microscopic Devices Market Segment Analysis – By Product Type
Based on the Product Type, Microscopic Devices Market is segmented into Electron Microscopes, Compound Microscopes, Stereo Microscopes, Digital Microscopes, Scanning probe Microscopes, Surgical Microscopes. The electron microscopes segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 7.5% during the forecast period 2020-2025. This is mainly owing to the high magnification ratio, electron microscopes have vital applications in biology, material sciences, nanotechnology, and semiconductor industries. Moreover, growing trend of correlative light and electron microscopy are contributing to the growth of this segment.
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Microscopic Devices Market Segment Analysis – By Application
Based on the Application, Microscopy Devices Market is segmented into Nanotechnology, Life Science, Semiconductor, Material Science, Others. In 2019, life sciences held the largest share in the Microscopic Devices Market. This is mainly owing to increasing use of life sciences in various compound microscopes such as upright, inverted, and fluorescence, laser microdissection, and digital which are contributing to the growth of this segment.
Microscopic Devices Market Segment Analysis – Geography
North America dominated the Market share accounting for 40% of the market in 2019. This is mainly owing to presence of a large number of academic institutes, advanced healthcare infrastructure, and R&D institutes.
However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing disposable income and increasing healthcare expenditure.
Microscopy Devices Market Drivers
Increasing Prevalence of Ocular Disorders
Increasing prevalence of ocular disorders is driving the market growth of this segment. Moreover, increasing number of people with eye conditions, vision impairment and blindness are also driving the market growth of microscopy devices.
Technical advancement to integrate with display modalities to display images in High Definition (HD) and 3-dimensional (3D) views are driving the growth of the market. Moreover, increasing application of microscope in the field of life sciences such as toxicology, nanoscience, and pharmacology, rapid growing contract research organization are contributing to the growth of Microscopy Devices Market.
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Microscopy Devices Market Challenges
High cost of technologically advanced microscopes are challenging the growth of the market. Moreover, microscopes are complex and house numerous fine-tuned lenses with tightly controlled dimensions which require special and complex sample preparation techniques are further restraining its market growth during the forecast period 2020-2025.
Microscopy Devices Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Microcopy Devices Market. Microscopy Devices top 10 companies are FEI Company, Carl Zeiss AG, Bruker Corporation, Danish Micro Engineering A/S, Cameca SAS, Leica Microsystems, NT-MDT Company, JEOL Ltd., Hitachi High Technologies Corporation, Nikon Corporation, and Olympus Corporation.
On April 2017, Carl Zeiss launches advanced microscopy software such as ZEISS ZEN Connect, ZEISS ZEN Core and microscopy systems such as ZEISS Crossbeam 550, ZEISS EVO, Axio Observer and others.
On April 2016, Olympus Corporation introduced a new confocal laser scanning microscope, the FLUOVIEW FV300, which combines usability with high-performance imaging capabilities to enable researchers in fields such as cell biology, cancer research, and stem cell research.
In 2019, North America dominates the Microscopic Devices Market owing to presence of a large number of academic institutes, advanced healthcare infrastructure, and R&D institutes.
Increasing prevalence of ocular disorders and technological advancement is driving the market growth of microscopic devices.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Microscopic Devices Market report.
High cost of technologically advanced microscopes is challenging the growth of the market.
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