Constant introduction of technically advanced devices such as fluorescent and near field scanning microscope with higher resolutions is expected to fuel the market growth
The global microscope market was valued at USD 6.4 billion in 2015. Magnification and visualization devices are an integral part of science. The application of these devices is constantly expanding in the newer fields such as polymer industry, agriculture, nanotechnology, and atomic studies. The development of technically advanced products with capabilities such as faster performance and easy sample preparation techniques are expected to boost penetration of microscopes in the market. Furthermore, technical advancement to integrate with display modalities to display images in high definition and 3-dimensional views are expected to boost the demand for microscopes during the forecast period.
Optical technology bases products are widely used in academic and life science research institutes for cellular or subcellular imaging. The increasing number of academic institutions is fueling the demand for optical devices. In addition, the affordable cost (USD 150 to USD 10,000) is augmenting the adoption of these devices.
The fluorescent technology bases productssegment is expected to show the fastest growth during the forecast period owing to its ability to visualize subcellular components. The stereomicroscope segment is expected to show significant growth as it enables three-dimensional visualization of the sample.
Scanning probe microscopes (SPM) segment, that uses different techniques for magnification is expected to exhibit the highest CAGR
Based on the product type the sector is segmented into optical, electron, and scanning probe microscopes. Presently, electron technology based products segment is dominating the space with the large number of applications in R&D. The segment is expected to remain dominant throughout the forecast period owing to the growing popularity of the advanced techniques of electron technology bases productssuch as SPM. These devices are expected to exhibit the fastest growth throughout the forecast period. The SPM has advantages such asability to magnify the sample at the atomic level. Newer optical technology bases productswith more accuracy and innovative technologies are expected to show a significant growth rate throughout the forecast period.
Japan Microscopes Market, by Products, USD Million, 2012 - 2024
Based on the applications, the spaceis segmented as material science, nanotechnology, life science and semiconductors. Currently, life science segment is dominating the market with 29.7% of the revenue share. The revenue share of semiconductor segment is expected to near the share of life science segment in 2024. Nanotechnology is anticipated to be the fastest growing segment during the forecast period. A large amount of investments in nanotechnology research and developments and thereby expanding scope of this application is expected to fuel the demand for these devices in the near future.
North America is expected to remain dominant throughout the forecast period
North America captured the revenue share of 34.3% in 2015.Presence of a large number of research and development centers, high adoption rate for the advanced technology, and astrong economy are some of the factors that are resulting in dominance of the region. Furthermore, increasing government funding for R&D in various fields is propelling the growth of the sector in North America.
Asia pacific is expected to exhibit the fastest growth during the forecast period. The presence of giant players in countries such as Japan coupled with thriving number of local manufacturers in countries such as China and India are the factors spurring the growth of the region.
Key players taking over new entrants to retain the revenue share
The global space is highly fragmented with presence of many local players competing with international players. Major players implement the strategies such as mergers, acquisitions, and liaison to expand their market share. Major players are more focused on the research and development of new products to remain competent in the sector.
A few of the major players include but are not limited to Asylum Research, Nikon Corporation, JeoL Ltd., FEI Company, CAMECA Instruments, Hitachi High-Technologies Corporation, Bruker Corporation, NT-MDT Company, Carl Zeiss AG, and Olympus Corporation.
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