Microscopy Devices Market Expected to Reach USD 9.69 Billion Globally in 2020: Transparency Market Research

According to a new market report published by Transparency Market Research, “Microscopy Devices Market [Products (Optical Microscopes, Electron Microscopes, Scanning Probe Microscopes and Others) and Applications (Semiconductors, Life Sciences, Nanotechnology, Material Sciences and Others)] is Expected to Reach USD 9.69 Billion Globally in 2020: Transparency Market Research – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” the global microscopy devices market was valued at USD 5.75 billion in 2014 and is estimated to reach a market worth USD 9.69 billion in 2020 at a CAGR of 7.6% from 2014 to 2020.
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Microscopy devices have been used for the past three centuries. The discovery of microorganisms and the intricacies of the atom made humans more curious to further understand the dynamics of the smaller world. This lead to innovations in microscopy devices and an enriched understanding of the microscopic universe.
From the simple hand-held magnifying lens, to the large Hadron Collider located in the Alps, created specifically to study the intricate details of the atomic substructures, microscopes have evolved in a great progression over the years. Devices have grown more complex and nowadays seldom use visible light in magnification of objects. Among them, the innovation of electron microscopy was a great boost to the microscopy segment. After exhaustive research and innovations in optical microscopy, focus on electron microscopy opened new frontiers.
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The microscopy devices market is broadly classified on the basis of product segments and application areas. Among various product segments, the optical microscopes market accounted to have the largest market share of 38.9% in 2013. This is probably because it is among the oldest segments of microscopy in sales. Besides optical, there are electron microscopes, scanning probe microscopes and other customized hybrids, arranged in decreasing order of their shares in global microscopes revenues. Among various application areas, the life sciences industry segment accounted for the largest market share in 2013 and growing at a CAGR of 6.4% during the forecast period of 2014 to 2020. Semiconductors and material sciences segments follow the market for the lifesciences segment. The nanotechnology segment is expected to display an impressive CAGR of 12.4% during the forecast period.
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Geographically, the Asia-Pacific region accounted for the largest share of global microscopy devices market in 2013, followed by North America. The Asian-Pacific region is expected to represent the highest growth rate of 9.1% during the forecast period. The major contributing factor for such dominance of the Asia-Pacific region is growing investment in research and development in these regions by the respective governments of Asia. China, for example, is at present the world’s second largest investor in research and development, according to World Bank data. This along with presence of numerous schools, universities and research institutions would translate to greater growth in the coming years for the Asia-Pacific markets.
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The major players of this market include Leica Microsystems, Olympus Corporation, JEOL Limited, FEI Company, Danish Micro Engineering A/S, Hitachi High-Technology Corporation, Cameca SAS, Bruker Corporation, Carl Zeiss AG, NT-MDT and Nikon Corporation to name a few.
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