The global microscope market is expected to reach USD 12.7 billion by 2024, according to the study performed by Grand View Research, Inc. The market for microscopes is majorly driven by the booming semiconductor industry and the rising research and development (R&D) initiatives in the fields of nanotechnology and life sciences. In addition, the continually rising number of investments deployed for the emerging application areas and the miniaturization trend of transistor chips is further driving the global market growth.
On the other hand, complexities associated with sample preparation and instrumentation is challenging the adoption of high resolution products. Moreover, high cost of the advanced devices is impeding the growth of the overall market globally.
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Further Key Findings from the report suggest:
The optical microscope segment captured the largest revenue share of 37% in 2015. The constantly growing number of academic institutions is primarily driving the growth of the optical microscopes segment since these devices are widely used in academic institutes.
The scanning probe microscope segment is expected show the fastest growth of 9.6% from 2016-2024 owing to the introduction of novel techniques, such as the piezoelectric technique, which is employed to view the specimen accurately at standard temperature and pressure.
In addition, the wide-ranging applications of the scanning probe microscope in manufacturing, semiconductor, and electronics industries is expected to boost the growth during the forecast period.
The life sciences application segment dominated the overall space. The large revenue share of the segment was mainly attributed to surge in the R&D activities in life sciences field.
The nanotechnology segment is expected to show significant growth due to its vast applications in varied fields including medicine, food, fuel cell, solar cell, chemical sensors, space programs, fabric development, and air and water purification.
North America dominated with revenue share of 34.4% in 2015. The dominance of the region is mainly attributed to the presence of numerous academic and research institutes and advanced healthcare infrastructure. In addition, the significant number of major players are domiciled in this region are further contributing to the revenue of North America.
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Asia Pacific is expected to show the fastest growth during the forecast period. Notable segments in the region include Japan, China, and India. The rapidly booming medical tourism industry and the flourishing R&D industry are collectively pushing the demand for microscopes in the Asia Pacific region. In addition, the availability of advanced manufacturing facilities and advanced technology at cheaper cost in the region is fueling the growth of the market by reducing the manufacturing cost and thus increasing the penetration of the products.
The majority of the global players such as Carl Zeiss AG, Bruker Corporation, CAMECA Instruments, Inc., FEI Company, Nikon Corporation,Hitachi High-Technologies Corporationand Olympus Corporation.
The global market is consolidated in nature with mergers and acquisitions. Key players includebut are not limited to Carl Zeiss AG, Bruker Corporation, CAMECA Instruments, Inc., FEI Company, Nikon Corporation, Asylum Research Oxford Instruments, JEOL Ltd., Hitachi High-Technologies Corporation, NT-MDT Company, and Olympus Corporation.
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