Microscopy Market worth $8.9 Billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 15, 2021 /PRNewswire/ -- According to the new market research report "Microscopy Market by Product (Microscopes, Software, Accessories), Type (Optical Microscope (Stereo, Digital), Electron Microscope (SEM, TEM), AFM, STM), Application (Semiconductor, Life science), End User (Industrial, Research) - Global Forecast to 2026", published by MarketsandMarkets™, the Microscopy Market is projected to reach USD 8.9 billion in 2026 from USD 6.5 billion in 2020, at CAGR of 5.6% during the forecast period.
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186 – Tables
41 – Figures
232 – Pages
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The 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.
By product, the software segment is expected to witness above-average growth in the microscopy market during the forecast period. Software is expected to show the highest growth in the forecast period. The introduction of novel image acquisition software for microscopes is a recent trend in the market. Increasing research in life sciences and other application areas have resulted in the generation of a large amount of data, mainly due to advances in image quality. Present software can no longer handle these images, which indicates the potential opportunities offered in the area of software development. Recent key microscopy software launches include ZEISS ZEN Connect, Zeiss ZEN Core, ZEISS ZEN Intelleis software, and arivis Vision4D and patent-pending arivis inViewR.
By type, the optical microscopes accounted for the largest share of the microscopy market during the forecast period.
Based on type, the global microscope market is segmented into optical microscopes, electron microscopes, scanning probe microscopes, and other microscopes. In 2020, optical microscopes accounted for the largest share of the market, primarily due to the increasing applications of digital and confocal microscopes in the materials science, semiconductor, and life science industries and the increased focus on developing advanced digital microscopes. However, the electron microscopes segment is estimated to grow at the highest CAGR during the forecast period. Growing life science and materials science research activities and the emergence of correlative light and electron microscopy are expected to drive the demand for electron microscopes in the coming years.
By application, the semiconductor applications segment is expected to account for the largest share of the microscopy market during the forecast period.
Based on applications, the microscope market is segmented into semiconductor, life science, materials science, and other applications. In 2020, semiconductor applications accounted for the largest share of the market. Microscopy is extensively used in the semiconductor industry for R&D, quality control, monitoring, process development, and failure analysis. This factor, along with the growing demand for miniature transistor chips, nanoelectronics, quantum dots, and optoelectronics, drives the demand for microscopes in the semiconductor industry. However, the materials science applications segment is expected to be the fastest-growing application segment during the forecast period. In recent years, research in materials science has increased significantly. This is expected to drive the adoption of microscopes as they are used in the structural and chemical analysis of materials, including polymers, metals, alloys, ceramics, and biomaterials.
By end-user, the industries settings segment is growing at the highest rate.
Based on end users, the microscopy market is segmented into industries, academic & research institutes, and other end users. In 2020, the industries segment accounted for the largest share of the market. It is also the fastest-growing segment. Light and electron microscopes are widely used in industries for identification and particle analysis, material characterization, process control, quality control, and failure analysis, which is a major factor driving market growth.
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North America dominated the global microscopy market in 2020
The microscope 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. 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.
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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