The global microscope market size was valued at USD 8.22 billion in 2018 and is expected to record a CAGR of 7.9% during the forecast period. Growing applications and high demand for technologically advanced magnification devices are the factors driving the market growth as magnification and visualization devices are an integral part of science. Thus, increasing scope of application of these devices, such as in polymer industry, agriculture, nanotechnology, and atomic studies, will boost the market further.
Development of technically advanced products with faster performance and easy sample preparation techniques are expected to boost the product demand. Technical advancement to integrate with display modalities to display images in High Definition (HD) and 3-dimensional (3D) views are expected to boost the demand further.Automation and Artificial Intelligence (AI) in magnified imaging equipment is one of the principal factors having high impact on the market dynamics.
Companies like Carl Zeiss, BioTek Instruments, and Olympus Corp. focus on product integration with automated platforms to increase their application in life science, as well as material sciences. Wide usage of such devices can potentially improve operational efficiency in various establishments including hospitals and manufacturing units. Recently, a California-based institute, Nano Systems, developed an advanced device by integrating microscope and AI to identify the cancer cells.
According to the company, this device is highly efficient than other commercially available techniques. One of the major uses of microscopes extend in surgical interventions. Thus, magnified imaging systems have high demand in surgical procedures related to cancers and neuroscience to increase procedural success. Major companies are focusing on the development of dedicated offerings related to microsurgeries including spine, cranial, and other multi-disciplinary surgeries.
These instrument are categorized as class I medical devices and are easily approved for commercialization. Tough competition by local manufacturers is likely to limit the demand for traditional compound microscopes. In addition, high prices of technologically advanced products are expected to limit their penetration in developing regions.
Electron microscope segment captured the largest market share in 2018. High demand due to better efficiency is the major factor responsible for the segment’s largest share. The segment is expected to continue its dominance throughout the forecast period. Growing number of applications and rapid technological advancements are driving the demand for Scanning Probe Microscopes (SMPs).
These products are used in fields, such as natural surface topography, study nanostructures including integrated circuits & diffraction grating, and biological materials including DNA and cell membranes. Manufacturing industries, such as microelectronics, automotive, aerospace, and medical device, also use these instruments to monitor the entire production process, enhance the output and quality, and reduce costs.
Introduction of novel techniques, such as piezoelectric techniques, to view the specimen accurately at standard temperature and pressure is expected to drive the market. Optical technology-based products are widely used in academic and life science research institutes for cellular or subcellular imaging. Thus, increasing number of academic institutions across the globe is fueling the demand for optical devices.
In addition, affordable cost is augmenting the adoption of these devices. The fluorescent product segment is expected to witness the fastest growth during the forecast period owing to the ability of these devices to visualize subcellular components. The stereomicroscope segment is also expected to have a significant growth as these equipment enable 3D visualization of the sample.
Based on the applications, the market is segmented into material science, nanotechnology, life science, semiconductors, and others. Life science is the dominant application segment. Usually, compound microscopes, such as upright, inverted, and fluorescence, laser microdissection, and digital, are used in the life sciences studies include. In addition, growing applications in the diagnosis of diseases is driving the market.
Semiconductor is one of the fastest-growing industries as a result of increasing usage of products, such as chips and microchips, in electronics, space research, and household appliances. Microscopes are widely used in the semiconductor industry for R&D, manufacturing, and quality analysis. Nanotechnology is anticipated to be the fastest-growing segment during the forecast period.
Material sciences include microscopes that are required to understand properties, atomic and subatomic structures, and associated functions. A wide range of equipment from compound to highly efficient electron microscopes is used based on the degree of magnification required. Material sciences segment also includes applications in chemistry and solid-state physics along with industrial applications, such as inspection of metallic, ceramic, and polymeric surfaces for different industries.
North America captured the largest market share in 2018. Presence of a large number of academic institutes, advanced healthcare infrastructure, and R&D institutes are responsible for its highest share. In addition, a significant number of key companies is based in U.S. and Canada. Therefore, revenue generated by these firms is contributing to the growth of the market in North America.
The market will maintain the dominance due to increasing number of healthcare facilities, diagnostic centers, and R&D projects. Asia pacific is expected to register the fastest growth during the forecast period. Presence of major companies in countries, such as Japan, and thriving number of local manufacturers in emerging countries like China and India are the factors spurring the market growth in APAC. Latin America has been attracting attention of major pharmaceutical and biotechnology companies for their clinical trial projects.
This is due to the presence of less stringent regulatory framework, easy availability of patient pool, and presence of advanced research infrastructure. Several governments in the region have simplified the approval processes of conducting clinical trials, foreseeing the advantages of competitive clinical trials. As a result, a higher demand for microscopes was observed in the region. Notable markets in the region include Mexico, Brazil, and Argentina.
The global market is highly fragmented with the presence of many local manufacturers competing with international firms. Major companies implement strategies, such as introduction of advanced versions of existing products, M&A, and liaison, to increase their industry share. They are focus more on R&D of new products to remain competent in the sector.
Some of the prominent companies in this market include Asylum Research, Nikon Corporation, JeoL Ltd., FEI Company, CAMECA Instruments, Hitachi High-Technologies Corp., Bruker Corp., NT-MDT Company, Carl Zeiss AG, and Olympus Corp.
Base year for estimation
Actual estimates/Historical data
2015 - 2017
2019 - 2026
Revenue in USD Million and CAGR from 2019 to 2026
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
U.S., Canada, Germany, U.K., France, Italy, Spain, China, Japan, India, Thailand, South Korea, Brazil, Mexico, Argentina, Colombia, South Africa, Saudi Arabia, and UAE
Revenue forecast, company share, competitive landscape, growth factors and trends
15% free customization scope (equivalent to 5 analyst working days)
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This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global microscope market report on the basis of product, application, and region:
Product Outlook (Volume, ‘000 Units; Revenue, USD Million, 2015 - 2026)
Near Field Scanning
Application Outlook (Volume, ‘000 Units; Revenue, USD Million, 2015 - 2026)
Regional Outlook (Revenue, USD Million, 2015 - 2026)
Middle East & Africa
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.