Microscope Market Growth & Trends
The global microscope market size is expected to reach USD 20.4 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.97% over the forecast period. High demand from the healthcare sector and the rapidly growing semiconductor industry are among the key factors boosting the market growth. The establishment of microscopy to promote research activities is also contributing to the product demand. One of the most important applications of microscopes is in surgical interventions. Magnified imaging systems are in high demand for cancer and neuroscience surgical procedures to improve procedural success. Major market players are focusing on developing dedicated microsurgery offerings, such as the spine, cranial, and other multi-disciplinary surgeries.
The growing adoption and rising investments in the development of microscopes by precision manufacturing industries are expected to drive market growth. However, due to the impact of the COVID-19 pandemic companies reported decreases in the revenue in the second quarter of the year 2020, which affected the supply chain of most of the companies. Manufacturers in the market are adopting strategies, such as product innovation by integrating the latest technology and geographic expansion through mergers & acquisitions. For instance, in October 2020, Bruker Corp. launched the Vutara VXL Super-Resolution Fluorescence Microscope, designed for biological imaging at the nanoscale, which can improve the study of nano-level cellular biology, especially in the field of spatial omics imaging.
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Microscope Market Report
Microscope Market Report Highlights
- The electron product segment dominated the market in 2021 due to the high product on account of applications in various fields, such as life sciences, semiconductors, and material science
- The life science application segment led the market in 2021 due to wide product applications in the diagnosis of diseases
- Asia Pacific dominated the market in 2021and is estimated to record the fastest CAGR from 2022 to 2030
- The growth is attributed to the high investments in R&D, product innovations, and the establishment of microscopy centers at research & education institutes, which, in turn, is boosting the product demand
- The majority of key manufacturers are headquartered in Japan and the U.S., with a presence in other regions through distributors, subsidiaries, or corporate offices
- Manufacturers, such as Olympus Corp., have adopted direct selling by providing online purchasing facilities, along with association with distributors. Other manufacturers provide store/dealer details on their websites, depending on a customer’s location, to facilitate the early purchase
