Analysis of COVID-19 Microscopy Devices Market

Microscopy Devices Market – Snapshot

Microscopes have enabled researchers to conduct in-depth academic and exploratory research. Rise in interest in life science areas such as nanoscience and pharmacology & toxicology has created a need for advanced microscopes that employ mediums much more penetrative than light such as electron and X-ray. Based on device type, the global microscopy devices market has been segmented into optical microscopes, electron microscopes, and scanning probe microscopes. The global microscopy devices market was valued at US$ 6,218.0 Mn in 2016 and is anticipated to expand at a CAGR of 8.0% from 2017 to 2025 to reach US$ 12,351.4 Mn by 2025. The scanning probe microscopy segment is likely to fuel the growth of the global microscopy devices market from 2017 to 2025.

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Rapid expansion of the global microscopy devices market is attributed to increase in innovations and technological advancements in microscopes, focus on R&D activities by pharmaceutical and biotechnology companies, and growth of the life science industry. The biomedical research and engineering sector is rapidly growing, driving innovation in products and technologies used in the field. For instance, localization microscopy is a new technique designed by a scientist at the Delft University of Technology (the Netherlands). A fluorescence microscope usually produces images within the resolution range of 200 nanometers to 300 nanometers. However, scientists can use the new localization microscopy technique to produce better and more informative images of cellular functions, including internal images of cells.

Constant upgrades and innovation in products and technologies of microscopy devices have been the key strategies adopted by major players in the global life sciences microscopy devices market. New product introduction in various segments, such as electron microscopes, scanning probe microscopes, and integrated microscopes, have created high demand for the devices in the market. Products such as Flouview FU300 (Olympus Corporation), OPMI LUMERA 300 / 700 (Carl Zeiss Microscopy GmbH), Eclipse Ti2 (Nikon Corporation), and CD-SEM-1 CV5000 (Hitachi High-Technologies Corporation) have been the benchmarks in the microscopy devices market. Such advancements in products, with an aim at value addition and improving product offerings, has augmented demand for microscopes in the life sciences research segment.

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The global microscopy devices market is witnessing rapid growth. Key players such as Olympus Corporation, Hitachi High-Technologies Corporation, Carl Zeiss Microscopy GmbH, and Nikon Corporation have strong presence in the market. Established players focus on increasing their research and development activities to come up with new products and attract more number of customers by offering innovative and technologically advanced products. In 2017, Olympus Corporation spent US$ 706 Mn on research and development (50.2% higher than that in 2016). The company primarily invests in research and development for the development of microscopy devices. Additionally, rise in microscopy devices offer ample business opportunities for the development of cutting edge technologies that promote credibility and encourage product uptake. Hence, investment in research and development for new product development and enhancement of existing product portfolio would help the key players to retain and enhance their share in the global microcopy devices market.

The global microscopy devices market has been segmented based on product type, application, end user, and region. In terms of product type, the optical microscopy segment is projected to lead the market and is expected to continue its dominance during the forecast period. Scanning probe microscopy is an advanced technique. Increased applications of microscope in various fields such as nanotechnology, semiconductor technology, and life sciences are the major factors driving the market. Life sciences has been a major segment for the use of microscopes. Optical microscopy was the leading segment in terms of revenue in 2016. The segment is likely to continue to dominate the market during the forecast period. In terms of indication, the microscopy accessories segment is likely to lose market share during the forecast period. The cell and molecular biology segment is expected to continue to dominate the market from 2017 to 2025.

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North America captured the largest share of the global microscopy devices market in 2016. Increase in government funding for R&D in life science is expected to drive the market in the U.S. Asia Pacific is projected to gain market share during the forecast period and is likely to be key revenue generator. Implementation of industrial policies favoring companies in the health and life science areas along with approval of non-reimbursable funds and establishment of various government programs to support the internationalization of the life sciences sector driving the market growth in Brazil, South Africa Saudi Arabia, etc. is likely to boost market growth in Latin America and Middle East & Africa.

Key companies operating in the global microscopy devices market and profiled in the report include Olympus Corporation, Hitachi High-Technologies Corporation, Carl Zeiss Microscopy GmbH, and Nikon Corporation.