According to The Insight Partners market research study titled ‘Optical Microscope Market to 2027 – Global Analysis and Forecasts by Product, End User and Geography’. The Global Optical Microscope Market is expected to reach US$ 3,687.90 Mn in 2027 from US$ 2,412.23 Mn in 2018. The market is estimated to grow with a CAGR of 5.2% from 2019-2027. The report highlights the trends prevalent in the optical microscope market and the factors driving the market along with those that act as challenges to its growth.
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Global optical microscope market was segmented by product and end user. The product segment was segmented into digital microscopes, stereo microscopes, inverted microscopes and accessories market. Likewise, the end user segment is classified as hospital & clinics, academics & research institute pharmaceuticals & biotechnology companies.
The market for optical microscope is expected to grow significantly due to factors such as rising expenditure of pharmaceutical and biotechnology companies on research and development activities, innovative product launch. However, limitation of the optical microscope is expected to act as major restraining factor for the growth of the market. In addition, developing nations offer great growth opportunities for the market during the forecast period. Also the future trend such as development in the technology is expected to drive the market in coming years.
The major players operating in the optical microscope market include, Agilent Technologies, Inc, Nikon Corporation, Bruker, JEOL Ltd, Leica Microsystems, Olympus Corporation, Carl Zeiss AG, Accu-Scope Inc, Ken-A-Vision, Inc, Crest Optics, MEIJI TECHNO CO., LTD among others. The companies are involved in various growth strategies that are enabling the growth of the market as well as for the company. For instance, in June 2019, Olympus Corporation launched the DSX1000 digital microscope, which will improve inspection workflow and enable the analysis of samples with a single tool.
Growing Applications of Optical Microscopes in Healthcare to Drive Optical Microscopes in Healthcare Market Growth
To gain a high number of market share companies are investing in the development of a new microscope. These microscopes are produced by keeping in consideration of the requirement from the end user. This technologically advanced product gives the company an edge over the competitor. The market is highly competitive, which requires continuous improvement in technology. Companies in the optical microscopes market are gradually focusing on softwarebased variation to remain competitive. Since the demand from the life sciences industry for research is rising, Olympus one of the player in optical microscope has launched the IXplore microscope range for modern laboratory life sciences and medical application requirements. This product comes with an automated imaging technology feature for accurate and efficient experiments and the IXplore Live feature for precise live cell imaging. Flinn Advanced Compound Microscopes that deliver high-quality optics launched by Flinn Scientific Inc. which are considered the best for advanced biological science courses and include easy-to-use software.
Companies like Carl Zeiss, BioTek Instruments. Developing products with integrated automated platforms to increase their application in life science. Development of new advanced products with faster performance and easy sample preparation techniques are expected to boost product demand. Technical development to integrate with display modalities to display images in High Definition (HD) and 3-dimensional (3D) views are expected to increase the demand further.
Collaboration in the segment is seen to be a win-win situation for the parties entering in collaboration. The objective of any collaboration with the company is usually for technology transfer, resource management, reducing operation cost, and others. In collaborations companies combine their effort and expertise of both organization, this creates a better network, and new innovation are expected, which ultimately leads to the growth of the organizations.
For instance, there have been various developments and collaborations between the major players. For instance, in March 2019, Olympus launched Alpha3 lightbreaker microscope in its life science portfolio. The product was developed in collaboration with PhaseView which is an advanced 3D microscope manufacturer. Moreover, in 2015, Lonza, a developer and manufacturer of cells for regenerative medicine therapeutics entered into an exclusive collaboration with Nikon Corporation. The aim of the collaboration was for developing a manufacturing facility in Japan for cell and gene therapy. In this collaboration, Nikon will get access to Lonza’s quality and operating systems, facility design, and ongoing consulting projects to facilitate Nikon to develop its own cell and gene therapy contract manufacturing business.
Thus, the collaborations in the industry are likely expected to drive the growth of the global optical microscopes market over the coming years.
The report segments the global optical microscope market as follows:
Global Optical Microscopes Market – By Product
Global Optical Microscopes Market – By End User
Global Optical Microscope Market – By Geography
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