The Global Microscope Market was valued at US$ 9.7 Bn in 2020 and is expected to reach US$16.62 Bn by 2027, with a growing CAGR of 8.0% during the forecast period (2021-2027).
The rising adoption of electron microscopy in the field of healthcare and life science is expected to accelerate the demand for the microscope market during the forecast period. The increasing need for higher quality images and magnifications with less turn-around time from the customer is expected to create the lucrative opportunity to adopt the electron microscope market. Moreover, the advancements in the electron microscope increasing owing to the rising demand from healthcare applications such as nano-particle imaging, biotechnology, and molecular structuring, among others. Furthermore, the application of an electron microscope is observed for data storage, material research, and biology & life sciences.
A microscope is an instrument that is used to magnify small objects, allowing the user to observe an extremely close view of minute structures at a scale appropriate for examination and analysis. Microscopes are widely utilized in academic & research institutes and various industries, such as electronics and semiconductors, healthcare, food & beverages, chemical, automotive, aerospace, ceramics, synthetic rubber, paints and coatings, plastics, and the environment. The microscope has different types such as optical microscopes, electron microscopes, scanning probe microscopes, and others which are used in the various sectors according to the uses.
In addition to this, the advent of advanced technologies like the Internet of Things (IoT), deep learning, and extended ultraviolet lithography (EUVL) is contributing to the expansion of the microscope industry. IoT generates demand for memory, connectivity, sensors, and microcontrollers, using the neural networks for analyzing data to reinforce the manufacturing of Integrated Circuits (ICs), and EUVL contributes to high-end computing chip manufacturing. Microscopy provides high-resolution imaging and enables a decent evaluation range from packaged devices to the atomic level gate structure. Electron beam-based systems have applications in analyzing device failure sources to reinforce the manufacturing process.
However, the high cost of microscope because of inbuilt electrons which improves the extent of the screen with the assistance of beams and makes images look more realistic is projected to hamper the market growth.
The Global Microscope Industry Segmentation:
Based on product, the electron microscope segment accounted to hold the largest revenue share of over 42.0% in 2020.
The electron microscope segment dominated the market with effective revenue share of 42.0% in 2020. Electron microscopes in contrast to optical microscopes use an accelerated beam as the source of illumination. The shorter wavelength of electrons as compared to light results in the high resolution of electron microscopes. Industries and established research laboratories are among the end-users of electron microscopes because the value of those microscopes is relatively high as compared to optical microscopes. Due the penetration of electron microscopes is anticipated to collaborate between manufacturers and academic/research organization.
Based on the application, the life science segment is anticipated to hold the largest revenue share of more than 30.0% in 2020.
The life science segment anticipated to dominate the market and estimated for the largest revenue share of more than 30.0% in 2020. The instrument used in the life sciences studies includes compound microscopes, such as upright, inverted, and fluorescence; laser microdissection, and digital microscopes. The usage of microscopes with high magnification like atomic force and microscopy is rapidly rising so as to look at genetic structures of viruses and bacteria.. Moreover, increasing applications in the diagnosis of diseases is accelerating the growth of the microscope market.
Besides, the nanotechnology industry is the fastest growing segment during the forecast period. This growth is attributed to the high investment in nanotechnology research and developments. Therefore, expanding the scope of this application is projected to boost the demand for these devices in the future.
Based on regions, microscope market in Asia-Pacific accounted to dominate in 2020, followed by North America.
Asia-Pacific is anticipated to dominate and register the market share of 35% in 2020. The presence of big players in countries such as Japan coupled with a thriving number of local manufacturers in the countries such as China and India are the major factors influencing the growth in the region. Moreover, due to the rising the number of healthcare facilities, growing demand for diagnostic centre, and rising research and development projects are projected to maintain the dominance of the region during the forecast period.
Company Profiles and Competitive Intelligence
The key players operating in the market are:
The report also provides in-depth analysis of microscope market dynamics such as drivers, restraints opportunities and challenges.
COVID-19 Impact on the Microscope Market Analysis
The COVID-19 has impacted various industries across the globe such as manufacturing, power, chemical, oil &gas, and others. The strict lockdown imposed by the government across the world leads to disrupt the supply chain and distribution of the product and services. The microscope market is negatively impacted by the pandemic. However, the situation has created opportunities for the healthcare and life-science sectors. Moreover, many key players come up with strategic initiatives in response to tackle the COVID-19 pandemic.
For instance, In January 2021, Oxford Instruments plc launched a brand new online store for a good range of products, including consumables, spares, training, and digital products in North America, Europe, and Asia.. This new online store supports the loss of businesses due to the COVID-19 pandemic in many countries.
The report also provides an in-depth analysis of key trends in the microscope market
The report also provides in-depth analysis of recent news developments and investments
The unique insights provided by this report also include the following:
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