The study involved 4 major activities in estimating the current size of the microscope software market. Exhaustive secondary research was done to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
The microscope software market is projected to reach USD 780 million by 2023 from USD 414 million in 2018, at a CAGR of 13.5%.
Global Industry Growth Boosters:
Growth in this market is driven by the rapid adoption of imaging solutions, the development of new Microscopy methods, and increasing volumes of biological imaging data.
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# In 2018, DRVISION technologies partnered with Etaluma systems to provide Aivia image analysis solutions with Etaluma’s microscope systems.
# In 2017, Carl Zeiss collaborated with VIB Bioimaging Core to develop and patent an innovative software-based super-resolution image processing technology.
# In 2017, Carl Zeiss partnered with Glencoe software to extend the open-source Bio-Formats image file conversion library to support whole-slide images compressed with the JPEG XR compression scheme.
The pharma & biotech industries end-user segment of life sciences microscope software market is projected to occupy the largest share of the market during the forecast period.
Pharma & biotech industries accounted for the largest share of the market in 2017. Microscopy plays a crucial role in pharmaceutical and biotech drug discovery and development. The pharmaceutical industry widely uses microscopy in drug discovery applications, which include drug formulation, toxicology, target identification, and cell culture. This is a key factor driving market growth. Advancements in microscopy techniques such as digitization, live-cell imaging, super-resolution, and high-throughput methods are also generating interest among pharmaceutical and biotechnology companies. This, in turn, will drive the market for this end-user segment.
Key questions addressed by the report:
# Who are the major players in the microscope software market?
# What are the growth trends and the largest revenue-generating regions for microscope software?
# How are microscope software sold to customers?
# What are the major types of microscope software?
# Who are the major end users of microscope software in the life sciences industry?
Geographical Growth Scenario:
North America is projected to account for the largest share of the microscope software market during the forecast period.
North America is estimated to account for the largest share of the microscope software market in 2017. Factors such as the presence of a strong life sciences industry and a large base of academic and research institutes in the US are driving the growth in this region. Canada is also a potential market for microscopy owing to favorable government support and growing academic excellence in nanotechnology-based R&D programs.
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The major software vendors in this market include Danaher (US), Oxford Instruments (US), Zeiss (Germany), Olympus (Japan), Nikon (Japan), and Thermo Fisher Scientific (US).
Major Growth Strategies Adopted by Leaders:
These players adopt various growth strategies such as expansions, acquisitions, and new product launches to expand their presence in the global microscope software market. Product launches and collaborations were the most widely adopted strategy by major players during 2015–2018. This helped them to expand their consumer base and address the unmet needs of end users.