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(Health-NewsWire.Net, September 04, 2021 ) Market Value:
The microscopy market is projected to reach USD 8.2 billion in 2024 from USD 6.3 billion in 2019, at CAGR of 5.5% during the forecast period.
Growth Drivers:
Market growth is driven largely by factors such as favorable funding scenario for R&D in microscopy, technological advancements in microscopes, and rising focus on nanotechnology and regenerative medicine. However, the high cost of the advanced microscopes is expected to restrain the growth of this market during the forecast period.
Key Leading Players: Microscopy Market
The major players in the microscopy market include Carl Zeiss (Germany), Danaher (US), Thermo Fisher Scientific (US), Nikon (Japan), Olympus (Japan), Hitachi High-Technologies (Japan), JEOL (Japan), and Bruker (US). These players have adopted various growth strategies such as product launches, acquisitions, agreements, partnerships & collaborations, and expansion to increase their presence in the global microscopy market.
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Carl Zeiss (Germany) and Danaher (US) are leading players in the Microscopy Market
Carl Zeiss (Germany) is the largest player in the global microscopy market. The company has an expansive range of microscopy products. The growth of revenue is strongly backed up by demand from Europe and the APAC countries, and efforts of the company strongly rely on meeting with the differentiated requirements of consumers from emerging Asian markets. Carl Zeiss launched ten new products in the past three years including advanced microscopy software such as ZEISS ZEN Connect, ZEISS ZEN Core, and microscopy systems such as ZEISS Crossbeam 550, ZEISS EVO, Axio Observer, and others. The company also focuses on inorganic growth strategies such as partnerships, collaborations, and acquisitions to strengthen its position in the market. In June 2019, Zeiss acquired GOM GmbH (Germany), a leading provider of hardware and software for automated 3D coordinate measuring technology. This acquisition will strengthen the microscopy portfolio of the company in the near future.
Danaher (US) is the second-largest player in the global microscopy market. Danaher provides a comprehensive portfolio of light microscopes, confocal microscopes, stereo microscopes, digital microscopes, super-resolution microscopes, microscope cameras, and microscope imaging software. The company has a significant presence in the fastest-growing segment of the market—digital microscopes with advanced ergonomic products such as Leica DVM6, Leica DMC Series, and Leica DCM8. The core sales of the company’s microscopy products continued to grow with demand across North America and high-growth markets, particularly China. During 2016-2019, the company launched several microscopes and software including DVM6 microscope, DM8000/12000 microscope, SP8 LIGHTNING microscope, SP8 DIVE, and Software LAS X, among others.
Geographic Analysis: Microscopy Market
The microscopy market is divided into four major regions— Europe, North America, Asia Pacific, and the Rest of the World (RoW). In 2018, North America accounted for the largest share of the global market, closely followed by North America. Factors such as the significant R&D budgets, availability of advanced microscopy systems offered by market leaders, high and growing focus on nanotechnology, and the presence of a large number of major research institutes and universities in the region are driving the growth of the market in North America.
Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Factors such as the rising R&D funding for microscopy, increasing application of correlative microscopy in life sciences and nanotechnology research, establishment of collaboration centers for microscopy research, and the low material cost and the availability of low-cost skilled labor for OEMs in these countries are the major factors supporting the growth of the Asia Pacific microscopy market.
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