Microscope Industry Overview
The global microscope market size is expected to reach USD 20.4 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.97% over the forecast period. High demand from the healthcare sector and the rapidly growing semiconductor industry are among the key factors boosting the market growth. The establishment of microscopy to promote research activities is also contributing to the product demand. One of the most important applications of microscopes is in surgical interventions. Magnified imaging systems are in high demand for cancer and neuroscience surgical procedures to improve procedural success. Major market players are focusing on developing dedicated microsurgery offerings, such as the spine, cranial, and other multi-disciplinary surgeries.
The growing adoption and rising investments in the development of microscopes by precision manufacturing industries are expected to drive market growth. However, due to the impact of the COVID-19 pandemic companies reported decreases in the revenue in the second quarter of the year 2020, which affected the supply chain of most of the companies. Manufacturers in the market are adopting strategies, such as product innovation by integrating the latest technology and geographic expansion through mergers & acquisitions. For instance, in October 2020, Bruker Corp. launched the Vutara VXL Super-Resolution Fluorescence Microscope, designed for biological imaging at the nanoscale, which can improve the study of nano-level cellular biology, especially in the field of spatial omics imaging.
Microscope Market Segmentation
Grand View Research has segmented the global microscope market based on product, application, and region:
Based on the Product Insights, the market is segmented into Optical Microscopes and Electron Microscopes, Scanning Probe Microscopes and Other Microscopes.
- The electron microscopesegment dominated the market and captured the largest share of more than 42.00% in 2021. Electron microscopes in contrast to optical microscopes use an accelerated electron beam as the source of illumination.
- The Scanning Probes Microscope (SPM) segment is expected to register the fastest CAGR during the forecast period owing to the ability of these devices to visualize subcellular components. The growing number of applications and rapid technological advances are the factors driving the growth of this segment.
Based on the Application Insights, the market is segmented into Material Science, Nanotechnology, Life Science, Semiconductors and Other Applications.
- The life science segment dominated the market and accounted for the largest revenue share of 33.5% in 2021. The instrument used in life sciences studies includes compound microscopes, such as upright, inverted, and fluorescence; laser microdissection, and digital microscopes.
- The nanotechnology industry is one of the fastest-growing industries. Huge investments are being made in nanotechnology R&D and thereby expanding the scope of product application. Material sciences include microscopes that are required to understand properties, atomic and subatomic structures, and associated functions.
Microscope Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile
The market is highly fragmented with the presence of many local players competing with international players. Major players implement the strategies, such as mergers, acquisitions, and liaisons, to expand their market share. Companies are also focused on the research and development of new products to remain competitive in the sector. High R&D activities, global expansion strategies, wide product offerings, and frequent introduction of advanced versions of existing products are some other strategies followed by market players to maintain their dominance.
Some prominent players in the global Microscope market include
- Zeiss Group
- Bruker Corp.
- Thermo Fisher Scientific, Inc.
- Nikon Corp.
- Olympus Corp.
- NT-MDT SI
- Hitachi High-Tech Corp.
- JEOL Ltd.
- Oxford Instruments (Asylum Corp.)
Order a free sample PDF of the Microscope Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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