The global microscopy devices market size was significantly large in 2022, and is expected to continue to register a rapidly inclining revenue CAGR between 2023 and 2032. Key factors responsible for driving market revenue growth are strategic expansions by manufacturers in the microscopy devices market, high research expenditure, increased product approvals, and surging interest of various companies in the field of life science.
Microscopy equipment is mostly employed in commercial, clinical, and academic domains. Some of the most common microscopy devices used in the healthcare industry are scanning probe microscopes, electron microscopes, and optical microscopes. These devices are very crucial in conducting exploratory and academic research for the development of chronic disease therapies and pharmaceutical medications.
Major Factors Driving Growth Of The Global Microscopy Devices Market:
Major factors positively impacting growth of the global microscopy devices market include rising focus of key players on new product developments and R&D activities. These strategies are helping them to expand their existing consumer bases through the provision of innovative and high-tech products.
Furthermore, increasing number of product launches in the market has led to surging product approvals from regulatory bodies, which are projected to promote the growth of the microscopy devices market worldwide in the near future.
Factors Restraining Growth Of The Global Microscopy Devices Market:
The global microscopy devices market growth is substantially hampered by several unfavorable factors. Major factors impacting growth of the global microscopy devices market include high costs of technologically upgraded microscopes.
In addition, light microscopes available in the market are complicated instruments with a profusion of fine-tuned lenses with precise diameters. These microscopes require complex preparation processes. If not operated correctly, the samples will be damaged or physically altered when seen. This is projected to hinder market expansion.
Opportunities For Players Operating In The Global Microscopy Devices Market:
The biomedical research and engineering sector is rapidly expanding, thereby fueling innovation in terms of products and technologies. Localization microscopy, for instance, is a new technology developed by a scientist at Delft University of Technology (the Netherlands). Images produced by a fluorescence microscope typically have a resolution of 200 nanometers to 300 nanometers.
New product introductions in many regions across the globe, such as integrated microscopes, scanning probe microscopes, and electron microscopes, have resulted in significant demand for the equipment. At present, unique microscopy devices are providing a wide range of features. Major companies are also focusing on improving product offerings and adding value to their new ranges. This is set to further propel the microscopy devices market growth in the field of bio sciences.
Global Microscopy Devices Market Revenue Led By Product Type Segment:
Based on product type, the electron microscopy segment is expected to reach the highest revenue share over the forecast period. Electron microscopes have specialized applications in the semiconductor, nanotechnology, material sciences, and biology industries, owing to their high magnification ratio. Additionally, increasing trend of correlated lighting & electron microscopy, rising R&D activities, and surging funding for life science & material science research are expected to drive growth of the electron microscopy segment during the forecast period.
Global Microscopy Devices Market Leading End-use Segment:
Based on end-use, the industries segment is expected to dominate all other segments in terms of revenue generation over the forecast period. This growth is attributable to increased production of micro and nanoparticles in the material, electrical, and semiconductor industries. At the same time, technological breakthroughs and surging government & corporate funding are anticipated to propel demand for microscopy devices from various industries.
North America Accounts For Largest Revenue Share In Global Microscopy Devices Market:
Among regional markets, North America emerged as the largest market for microscopy devices in 2020, with the highest revenue share. Increasing focus on nanotechnology, significant R&D budgets, presence of a large number of prominent research institutes & universities, and availability of advanced microscopy systems supplied by market players are expected to drive the microscopy devices market in North America in the near future.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific microscopy devices market is expected to register the fastest CAGR over the forecast period. This growth is attributed to establishment of collaboration centers for microscopy research, rising R&D funding for microscopy, and increased application of correlative microscopy in nanotechnology and life sciences research. At the same time, availability of low-cost skilled labor for OEMs and minimal material cost in developing countries would also drive the Asia Pacific microscopy devices market growth.
Major Companies Profiled In The Report:
Strategies And Objectives Of Major Companies:
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, global microscopy devices market is segmented on the basis of product type, application, end-use, and region:
By Product Type
By Application Type
By End-use Type
Region Outlook (Revenue, USD Billion; 2023-2032)