Analysis of Microscopy Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Significant growth of contract research organizations (CROs) has boosted the scope for microscopy devices. This is because all major companies are outsourcing their research and development to focus more on their core business segments and reduce other expenditures.
These CROs assist these companies in conducting laboratory experiments involving usage of microscopes. Based on these trends, the global microscopy devices market is poised to be leveraged impressively at a CAGR of 8.5% during the forecast period (2020-2025).
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Over the years, microscopes have enabled researchers to conduct in-depth academic and exploratory research. Increasing interest in life sciences such as nanoscience and pharmacology & toxicology has augmented the need for advanced microscopes, which employ more penetrative media such as electrons and X-rays. Instances of these are optical coherence microscopy devices. Major applications of microscopes also include nanotechnology, semiconductor technology and cellular biology.
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Cell and Molecular Biology and Biomedical Engineering are anticipated to register the fastest growth amongst all microscopy applications segment. Increased adoption of optical microscopes, mostly fluorescence and phase contract microscopes in microbiology and cell culture, better healthcare monitoring and diagnostic facilities and launch of new therapeutic products shall drive both segments. Collectively, the cell and molecular biology and biomedical engineering segment shall register a CAGR of 8.3% throughout the forecast period.
Clinical Pathology and Diagnostics is not far behind, poised to expand 1.6x during the forecast period. Rise in applications of microscopy devices in order to understand the pathological changes in diseases such as Alzheimer’s and Parkinson’s diseases is anticipated to drive the clinical pathology and diagnostics segment.
Also, increasing incidence of chronic diseases, rising focus on the study of disease mechanisms and consequences of clinical manifestations are poised to leverage the clinical pathology segment.
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Asia-Pacific is anticipated to emerge as the kingpin of the global microscopy devices market, bolstered by a high growth rate of pharmaceutical industries of emerging economies, increased research and development expenditure and greater adoption of electron and scanning probe microscopes.
In addition, liberalization and deregulation of markets in several countries has permitted key microscopy devices manufacturers to penetrate the Asia-Pacific market. The Asia-Pacific market is anticipated to capture over half of the global microscopy devices market, expanding 1.7x during the forecast period.
North America is poised to surge in popularity, owing to increased government funding for research and development in the life sciences segment. Other growth drivers include increase in patent filing application rates, high transparency and flexible regulatory systems.
Most healthcare establishments across North America are anticipated to use optical microscopes due to its applications in cell biology, drug discovery and clinical pathology, as well as its affordability. The North American market is poised to expand 1.6x during the forecast period.
Key Companies Profiled
The global microscopy devices market is consolidated with the presence of the following key market players: Olympus Corporation, JOEL Ltd., Nikon Corporation, Carl Zeiss Microscopy GmBh, FEI Company, Leica Microsystems, Hitachi High-Technologies Corporation, Bruker Corporation and CAMECA SAS. A majority of the abovementioned market players rely on technological advancements in order to establish market footprint.
For instance, in November 2016, Nikon Corporation launched its new inverted microscope, titled the ECLIPSE Ti2, which provides improved stability and usability in research applications of life sciences. Its current microscope product portfolio include the SMZ25/SMZ18, ShuttlePix and A1MP/A1RMP series. The company also manufactures stereo microscopes, upright microscopes, super resolution microscopes and digital microscopes.
Another market leader, Olympus Corporation, manufactures biological microscope products. Its microscope categories include upright microscopes, stereo microscopes, inverted microscopes, laser scanning microscopes and super resolution microscopes. Specific microscope brands include the SpinSR10, the BX53, the FV3000 Series and the IXPlore series.
The coronavirus pandemic has generated an economic earthquake, stalling businesses by disrupting their supply chains. Moreover, the healthcare industry has been overwhelmed with the rising number of COVID-19 cases on a daily basis. Owing to the rising number of cases, the demand for COVID-19 testing has augmented and ultimately the market for microscopic devices has also surged.
Microscopes are important to detect the presence of the novel coronavirus in the swab and blood samples collected from suspected or infected patients. Owing to this fact, leading market players are accelerating their production of microscopes.
Nikon Corporation, for instance, is leveraging its supply chain to ensure uninterrupted supply of electron microscopes to hospitals, diagnostic laboratories and clinics for the purpose of detecting COVID-19 pathogens. The company’s manufacturing units are fully operational and is ensuring that its products are shipped in a timely manner. Likewise, other important market players are strengthening their production facilities and ensure a steady supply.
“Widespread applications across several scientific disciplines is driving the growth of the global microscopy market. The ongoing COVID-19 pandemic only serves to leverage market prospects, attributed to the necessity of determining the presence of pathogens to ascertain the degree of infection among patients.”
The recent study undertaken by Fact.MR on the global microscopy market includes a 5-year forecast period ranging from 2020 to 2025. The report explicates on the vital dynamics associated with the global microscopy devices market such as the key drivers, opportunities and restraints impacting it. The market has been analyzed in detail through the following segments: product type, application and end-user.
A regional landscape covers the abovementioned segments. The regional profiling of the global microscopy devices market is based on the following geographies: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Towards the end of the report, a competitive landscape has also been mapped. In this section, the details about prominent market players, their revenue and market shares as well as future growth prospects based on each player’s SWOT analysis have been provided.
Fact.MR has studied the global microscopy devices market with detailed segmentation on the basis of product type, application, end-users and regions.
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The global microscopy devices market expects a CAGR of 8.5% by 2025.
Cell and Molecular Biology and Biomedical Engineering are anticipated to register the fastest growth amongst all microscopy applications segment.
Asia-Pacific is anticipated to become high growth region of the global microscopy devices market.
Pharmacology & toxicology, nanotechnology, semiconductor technology and cellular biology are some of the major applications of microscopy devices.
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