The top three players leading the global automated microscopy market are Olympus Corporation, Nikon Corporation, and Leica Microsystems. Collectively these companies held a share or 75% in the overall market in 2015. The oligopolistic market is likely to witness tremendous product innovation through result-oriented research and development activities and mergers and acquisitions. Several players are also expected to focus on expanding their business to emerging economies as the spending capacities in these nations is on the rise.
The research report states that the global automated microscopy market stood at US$3.86 bn in 2015 and is expected to climb to a valuation of US$8.05 bn by the end of 2024. Between the forecast years of 2016 and 2024, the global market is projected to surge at a CAGR of 8.5% due to rapid technological advancements.
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Asia Pacific Emerges as Leading Region as Investments in Research and Development Increase
In terms of application, the global market is segmented into medical diagnostics, nanotechnology, material science, life science, and semiconductors. Of these, the flourishing life sciences industry is expected to make a generous contribution to the global market in the coming years. Despite a minor slump, the life sciences segment is projected to acquire a share of 27.9% in the global market by the end of 2024.
In terms of geography, the global automated microscopy market is segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Analysts anticipate that the Asia Pacific automated microscopy market will lead the pack between 2016 and 2024. The growing investments in research and development, developing healthcare infrastructure, and low labor cost are some of the factors that are likely to contribute to the emergence of this regional market. The report states that Asia Pacific automated microscopy market will acquire a share of 38.1% by the end of 2024.