Microscopy Market worth $9.5 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 7, 2022 /PRNewswire/ -- Microscopy Market is projected to grow from USD 7.2 billion in 2022 to USD 9.5 billion by 2027, at a CAGR of 5.8% from 2022 to 2027, according to a new report by MarketsandMarkets™. Factors such as advancement in technology of microscopes, growing interest of nanotechnology and regenerative medicines, better regulatory procedures along with growing application scope and high demand from key end users are driving the market growth. Moreover, high demand from the healthcare sector and the rapidly growing semiconductor industry are also among the key factors boosting the market growth.
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Browse in-depth TOC on "Microscopy Market"
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By product, the microscope segment accounted for the largest share in the global microscopy market during the forecast period.
Broad and sustained demand of microscopes among key end users such as semiconductor and electronics, healthcare & lifescience, automotive industries, and materials science is a prominent factor for market growth. Additionally, availability of technologically advanced microscopes, development of technically advanced products with capabilities, such as faster performance and easy sample preparation techniques is also expected to push market growth during the forecast period.
By type, the electron microscopes segment is expected to witness the highest of the microscopy market during the forecast period.
Based on type, the global market is segmented into optical microscopes, electron microscopes, scanning probe microscopes, X-ray, and other microscopes. The electron microscopes segment is estimated to grow at the highest CAGR during the forecast period. Electron microscopy has various uses in life sciences, including the prevention of infection, discovery of viruses, drug development, clarification of the structure of organelles, and food safety. Moreover, it is being utilized in a host of fields like microbiology, cellular biology, toxicology, clinical pathology, and botany. Meanwhile, it is also used to investigate cell structures and their functions and the ultrastructure of proteins and biomolecules. These factors contribute to the high growth rate of this market.
By application, the materials science applications segment is witness the highest growth rate in the microscopy market during the forecast period.
Based on applications, the microscopy market is segmented into semiconductor & electronics, healthcare & life science, materials science, and other applications. During the projection period, material sciences are expected to expand at the fastest CAGR. The expansion of this application area is projected to be fueled by a greater focus on material science research. Materials such as polymers, metals, alloys, ceramics, and biomaterials are analyzed structurally and chemically using microscopes. In mineralogical and structural analyses of geological and archaeological samples, optical microscopy and scanning electron microscopy (SEM) are typical techniques.
Based on end users, the microscopy market is segmented into industrial users, diagnostic and pathology labs, pharma-biopharma companies and CRO's, academic & research institutes, and other end users. In 2021, the industrial users segment accounted for the largest share of the market. Pharma-biopharma companies and CRO's is the second fastest growing end-user segment. Factors such as continous and increasing R&D and manufacturing to meet the global demand for medicines, medical innovations such as precision medicine, cell and gene therapy and immuno-oncology are driving the growth of this end user segment.
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North America dominated the global microscopy market in 2021
The microscopy market is divided into five major regions— Europe, North America, Asia Pacific, Latin America and the Middle East & Africa. North America accounted for the largest share of the global market, closely followed by Europe. The market in North America is increasing due to factors such as huge R&D budgets, availability of advanced microscopy systems offered by market players, a high and growing focus on nanotechnology, and the presence of a large number of prominent research organizations and universities in the region. During the projected period, Asia Pacific is expected to grow at the fastest rate owing to the presence of leading manufacturers in countries, such as Japan, coupled with a thriving number of local manufacturers in countries, such as China and India, are the factors spurring the growth of the region.
The major companies in the microscopy market include Carl Zeiss (Germany), Danaher Corporation (US), Thermo Fisher Scientific (US), Nikon (Japan), Bruker Corporation (US), Olympus (Japan), Oxford Instruments (UK), JEOL (Japan), and Hitachi High-Technologies (Japan), among others.
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