New York, NY 19 Oct 2020: According to a new study published by Polaris Market Research the worldwide microscope market is anticipated to reach USD 12,851.2 million by 2025. In 2017, the electron microscope segment dominated the global market, in terms of revenue, whereas Asia-Pacific accounted for the majority share in the global microscope market.
Several technological advancements in the fields of nanotechnology, semiconductors and life sciences have augmented the growth of the microscope industry. In addition, this has encouraged government bodies to invest in research and development; which in turn has led to an increase in research and development activities in companies, small laboratories and academic institutions. Companies and academic institutions are increasing collaborations for shared use of advanced laboratory equipment has further supplemented market growth. The other factors driving the market growth include lightweight and portability of certain microscopes production of robust, more accurate and relatively cheaper instruments, and widespread adoption of microscope use by manufacturers across various domains. Emerging market in developing countries and newer innovative fields of application provide numerous opportunities for growth.
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The major driver of the growth of the microscope market is the advancements in the field of nanotechnology. Various factors such as optimal energy consumption and its conservation, environmental preservation, and increasing industrial productivity and quality by optimizing operational efficacy have fuelled the growth of nanotechnology. Also, miniaturization in semiconductor and electronics industry and material science has boosted market growth. Furthermore, the extensive use of microscopes and technological advancements in the field of forensic sciences, pharmacology, cell biology, biophysics and microbiology among other life sciences has augmented market growth.
In view of increasing technological advancements and its benefits, there has been an increase in the research and development activities in companies, small laboratories and academic institutions. It has also encouraged the government bodies to increase funding of such research and development activities. Moreover, companies and academic institutions are collaborating in order to use advanced laboratory equipment, which in turn has also supplemented market growth.
Asia-Pacific dominates the global market and is predicted to exhibit growth at the highest CAGR during the forecast period. This rapid growth is due to the swelling economic growth in countries such as China and Japan. Various factors governing the growth in this region include presence of major market players in this region, increasing government and rapidly increasing research and development activities. Furthermore, various technological advancements in the field of material and life sciences, and nanotechnology is further boosting the market growth.
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The key market players profiled in the report include Nikon, Carl Zeiss AG, Leica Microsystems, Hitachi High Technologies, Bruker Corporation, NT-MDT Company, FEI Company, Jeol Ltd., Olympus Corporation, Asylum Research, Omax Corporation, Amscope, Celestron, Motic and Magnus Analytics. These market players have adopted various strategies such as such as new product release, novel technology development and collaboration among others to expand their foothold and increase their customer base.
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