Number of pages: 100 | Report Format: PDF | Published date: January 28, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global microscopy market was valued at US$ 6.6 billion in 2020 and is expected to register a revenue CAGR of 5.2% to reach US$ 11.54 billion by 2031.
Microscopy Market Fundamentals
A microscope is an optical device that magnifies very minute objects, such as mineral samples or animal or plant cells, hundreds of times. Microscopes can be used to observe various materials, particles, nanoparticles, cells, or organelles. There are three types of microscopes, namely, optical microscope, electron microscope, and scanning microscope.
Modern-day microscopes have multiple lenses that help in the greater magnification of an image. Different microscopes are used for different purposes and might have single or multiple lenses with varied resolutions or magnifying power. For instance, an optical microscope is a simple microscope, consisting of a single lens, or compound, consisting of several optical components in line.
Microscopy Market Dynamics
The global microscopy market is driven by increase in number of research focused on nanotechnology, rise in funding for R&D activities in microscopy, technological advancements, and product launches.
However, the high costs associated with advanced microscopes and lack of skilled professionals handling such microscopes are likely to restrain revenue growth in the market to a certain extent.
Microscopy Market Ecosystem
The global microscopy market is analyzed based on four parameters: product, application, end user, and region.
Microscopy Market by Product
Based on the product, the microscopy market is segmented into microscopes, software, and accessories.
The microscopes segment is sub-segmented into optical microscopes (confocal microscopes, compound microscopes, digital microscopes, stereo microscopes, and other optical microscopes); scanning probe microscopes (atomic force microscopes, near-field scanning optical microscopes, and scanning tunneling microscopes); electron microscopes (scanning electron microscopes and transmission electron microscopes); and other microscopes.
The electron microscopes sub-segment accounted for the largest revenue share in the microscopy segment in 2020. This is attributed to increasing usage of these microscopes due to their advantages, such as higher magnification, high usage in nanotechnology research, and technological advancements.
Microscopy Market by Application
Based on the application, the market is segmented into life sciences, semiconductors, materials science, and other applications.
The semiconductors segment accounted for the largest revenue share of the microscopy market in 2020. Miniaturization of devices and rapid advancements in technologies that help control devices at atomic levels are driving revenue growth in the segment.
Microscopy Market by End User
Based on the end user, the market is segmented into industries, academic & research institutes, and clinical & diagnostic laboratories.
The industries segment accounted for the largest market revenue share in 2020. The industries segment includes various industries, such as pharmaceutical & biotechnology, semiconductors, mining, and textile companies. The large revenue share of this segment can be attributed to high demand for microscopes in different industrial verticals.
Microscopy Market by Region
Based on the region, the global microscopy market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
North America accounted for the largest revenue share of the global microscopy market in 2020. This can be attributed to presence of prominent players, rise in usage of microscopes for various R&D activities, and their high demand for various diagnostic applications in the healthcare industry. Further, launch of technologically advanced microscopes by key players in this region is driving the growth of the microscopy market.
Microscopy Market Competitive Landscape
The prominent players operating in the global microscopy market include: -
Microscopy Market Strategic Developments
The global microscopy market was valued at US$ 6.6 billion in 2020.
The microscopy market is projected to reach US$ 11.54 billion by 2031.
Increase in number of nanotechnology researches, rise in funding for R&D activities in microscopy, technological advancements, and product launches are propelling the global market.
Carl Zeiss AG, Danaher, Nikon Corporation, Thermo Fisher Scientific Inc, and Olympus Corporation are among the prominent players in the market.
The microscopy market is expected to register a revenue CAGR of 5.2% between 2021 and 2031.
North America accounts for the largest market revenue share of the global microscopy market.
*Insights on financial performance is subject to availability of information in public domain