Global Microscopy Device Market Size- 2020-2027
Global Microscopy Device Market is segmented By Product Type (Electron Microscopes, Compound Microscopes, Stereo Microscopes, Digital microscopes, Scanning probe microscopes, Surgical Microscopes), By Application Type (Life Sciences, Other Applications), By End User (Hospitals, Laboratories, Research Organizations, Educational Institutions, Other Applications), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2020-2027
The Global Microscopy Device Marke is projected to grow at a CAGR of 12% during the forecast period 2020-2027.
Microscopes produce enlarged images of small objects, allowing the observer an exceedingly close view of minute structures at a scale convenient for examination and analysis.
The use of microscopes is significantly increasing in multiple sectors such as science and biology, nanotechnology etc. There are several different types of microscopes, and the four most popular types are compound, stereo, digital and the pocket or handheld microscopes.
Rapid development at all levels of microscopy experiments such as improvements in sample labelling, contrast, illumination, resolution, signal detection and data processing have all occurred and there is every reason to expect that these advances will simply continue in the forecast period.
Increase in number of laboratories is driving the global microscopy market in recent years and anticipated to remain same over the forecast period. Diagnostic laboratories use high-resolution dark field microscopy to diagnose range of diseases. According to American Association for Clinical Chemistry in 2017, 70% of medical decisions are based on laboratory test results.
Technological advancements in microscopy devices with faster performance and higher efficiency with digital technology are expected to boost the product demand over the forecast period. For instance, the new technological based TCS SP8 FALCON, made by Leica Microsystems will facilitate fast fluorescence lifetime imaging and fluorescence correlation spectroscopy, allowing scientists to investigate the environment of proteins in specific areas of a cell.
The increasing research and development activities in small laboratories and academic institutions, increasing government funding in drug discovery and advancements in medical and biological studies are the other factors driving the global microscopy device market over the forecast period. Microscopy is increasingly being recognized as a valuable tool in Absorption, Distribution, Metabolism and Excretion (ADME) testing, which can be employed in both in vitro and in vivo preclinical studies.
However, maintenance of microscopes and lack of skilled labor to operate are hampering the market growth.
Market Segmentation Analysis
Global microscopy device market is broadly distributed to laboratories, hospitals, research organizations and educational institutes based on end user. Laboratories hold the significant share and expected to surge further over forecast period due to increase number of disease diagnostic procedures. According to World Health Organization in 2017, there were an estimated 219 million cases of malaria in 87 countries showcasing the usage and requirement of microscopes in diagnostic laboratories.
Clinical research organizations accounts for next highest share in global microscopy device market due increase in usage of microscopes in drug discovery process. An influx of new microscopic imaging methods and tools, including advanced imaging instruments, are considerably enhancing the application of microscopes in drug discovery process. Recently in 2019, a team from Purdue University in United States developed a microscope based on concepts of phase-contrast microscopy, which involves using optical devices to view molecules, membranes and thereby giving a better idea of how safely and effectively a medication will perform in the body.
Based on application, the global microscopy device market is divided into life sciences and other applications. Microscopes have opened up a whole new dimension in science, by using microscopes scientists are able to discover the existence of the microorganisms, study the structure of cells, and see the smallest parts of plants, animals, and fungi. For instance, in 2018, FEI a leading manufacturer of microscopes introduced Glacios Cryo Transmission Electron Microscope which delivers a complete and affordable Cryo-EM solution to a broad range of scientists.
Based on product type microscopes are categorized into compound microscopes, stereo microscopes, surgical microscopes, electron microscopes, scanning probe microscopes, digital microscopes and others. Electron microscopes have the highest market share as they have ability to produce powerful magnification and offers a higher resolution when compared to other microscopes.
The global microscopy market is segmented into North America, Europe, Asia Pacific, South America and rest of the world.
North America is dominating the global microscopy device market, due to the technological advancements, and increasing investments in drug discovery. According to Deep Knowledge Analytics in 2019, United States accounts for 63 % of global investments in drug discovery.
The Asia pacific microscopy device market is anticipated to grow at the fastest CAGR during the forecast period due to the presence of major companies and thriving number of local manufacturers in emerging countries such as China, India and Japan.
Europe is also registering high CAGR due to huge investments in research and development and leap towards technology based research.
The global microscopy devices market is witnessing rapid growth. Industry has strong players such as Olympus Corporation, Hitachi High-Technologies Corporation, Carl Zeiss Microscopy GmbH, and Nikon Corporation. These players are constantly offering technologically advanced microscopes by increasing their research and development activities. Microscopy industry includes manufacturers such as PicoQuant, Bruker, Shanghai Optical Instrument, Novel Optics, Motic and PTI.
On March 12, 2019, Nikon Instruments Launches New Digital Pathology Solution in Partnership with OptraSCAN at USCAP 2019.
On October 04, 2018, Med X Change, Inc announced the launch and production availability of the 4Klear, a 4K camera & medical video recorder, all-in-one solution for surgical microscope.
On March 7, 2017, Hitachi High-Technologies Launches New Transmission Electron Microscope model, the HT7800 Series.
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