Microscopy Market by Product (Microscope, Software, Accessories), Type (Optical Microscope (Confocal, Stereo), Electron Microscope (SEM, TEM), AFM, STM), Application (Semiconductor, Life Science), End User (Industrial, Research) - Global Forecast to 2024

Microscope Market Global Forcast to 2024

The microscopy market is projected to reach USD 8.2 billion in 2024 from USD 6.3 billion in 2019, at CAGR of 5.5% during the forecast period. Market growth is driven largely by factors such as favorable funding scenario for R&D in microscopy, technological advancements in microscopes, and rising focus on nanotechnology and regenerative medicine. However, the high cost of the advanced microscopes is expected to restrain the growth of this market during the forecast period.

By product, the software segment is expected to witness above-average growth in the microscopy market during the forecast period.
Software is expected to show the highest growth in the forecast period. The introduction of novel image acquisition software for microscopes is the recent trend in the market. Increasing research in life sciences and other application areas have resulted in the generation of a large amount of data, mainly due to advances in image quality. Present software can no longer handle these images, which indicates the potential opportunities offered in the area of software development. Recent key microscopy software launches include ZEISS ZEN Connect, Zeiss ZEN Core, ZEISS ZEN Intelleis software, and arivis Vision4D and patent-pending arivis inViewR.

By type, the electron microscopes segment is expected to witness above-average growth in the market during the forecast period.
Electron microscopes are expected to show the highest growth in the forecast period. Due to the high magnification ratio, electron microscopes have vital applications in biology, material sciences, nanotechnology, and semiconductor industries. Growing R&D activities and easy availability of funds have resulted in increasing life science and material science research. This, in turn, is expected to drive the demand for electron microscopes. The growing trend of correlative light and electron microscopy is also responsible for the growth of the electron microscopes segment.

By application, the material sciences segment is expected to witness above-average growth in the microscopy market during the forecast period.
Material sciences are expected to show the highest growth in the forecast period. Increasing focus on research in material science is expected to drive the growth of this application segment. Microscopes are used for the structural and chemical analysis of materials, including polymers, metals, alloys, ceramics, and biomaterials. Optical microscopy and SEM are common techniques in mineralogical and structural investigations of geological and archaeological samples.

By end-user, the industries settings segment is growing at the highest rate.
The industries segment is projected to register the highest growth rate during the forecast period due to the increasing production of micro and nanoparticles in the semiconductor, electrical, and material industries, which have subsequently driven the demand for microscopes. The availability of government and corporate funding and technological innovations are other factors contributing to the growth of this market.