The Microscopy Market is expected to grow at a CAGR of 4.2% from 2021 to 2028 to reach $11.71 billion by 2028. A microscope is an instrument that provides magnified images of small objects or specimens, allowing the user to observe an extremely close view of minute structures at a scale appropriate for examination and analysis. Microscopes are used widely in academic & research institutes and various industries, such as electronics and semiconductors, healthcare, food & beverages, chemical, automotive, aerospace, ceramics, synthetic rubber, paints and coatings, plastics, and environment. Technological innovations and advancements in microscopes, encouraging funding scenarios for R&D in microscopy, rising attention towards regenerative medicine and nanotechnology, and increasing academia-industry collaborations are the key factors driving the microscopy market.
Impact of COVID-19 on the Microscopy Market
The COVID-19 pandemic has deteriorated the global business environment has created an uncertain outlook of the microscopy market. The key companies operating in the microscopy market experienced rapid market shrinkage due to temporary closures of many governments and private academic & research centers & institutes, industries, suppliers, disruptions or restrictions on employee’s and customer’s ability to travel, and delays in product installations or shipments to and from affected countries. These travel restrictions, business closures, and operating capacity reductions have adversely affected the microscopy market.
The companies cannot predict the effects of the pandemic on their business due to uncertainties related to the global spread of this virus, the severity of the infection, duration of the outbreak, and the length of the travel restrictions and business closures established by the governments of impacted countries. In addition, this kind of outbreak could result in a widespread health crisis that can negatively affect the economies and financial markets of many countries, resulting in an economic downturn or a global recession that could affect the demand for products and impact the operating results.
On the other hand, various companies have taken several initiatives in the market to tackle the COVID-19 pandemic. Some of the initiatives are listed below:
- In January 2021, Oxford Instruments plc (U.K.) launched a new online store for a wide range of products, including consumables, spares, training, and digital products in North America, Europe, and Asia. This new online store was launched to support the loss of operations caused by the COVID-19 pandemic in various countries.
- Companies operating in the market have now started to hold web meetings and webinars to interact with their customer & shareholders, give product descriptions, customer demonstrations, and application training.
Thus, looking at the overall scenario, the COVID-19 pandemic has negatively impacted the global microscopy market. Still, rightful measures are also being taken by the companies operating in the market to adapt themselves to the scenario.
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Key Findings in the Global Microscopy Market Study
Microscopes to generate a large proportion of revenue compared to accessories and software
In 2021, based on product, the microscopes segment is estimated to account for the largest share of the microscopy market. The large share of this segment is mainly attributed to the technological advancements in microscopes and increasing applications of microscopy in various fields.
In 2021, the electron microscopes segment to account for the largest share of the market.
Based on type, the electron microscopes segment is estimated to account for the largest share of the microscopy market in 2021. The large share of this segment is mainly attributed to a broad range of electron microscopes in research and materials analysis, high demand for advanced magnification devices in various fields, and growing R&D in nanotechnology research.
In 2021, the research segment to account for the largest share of the market.
Based on application, the research applications segment is estimated to account for the largest share of the microscopy market in 2021. The large share of this segment is mainly attributed to the growing demand for research in structural biology, pathology, and plant biology; encouraging funding scenario for R&D in microscopy; and growing demand for pharmaceutical products.
In 2021, the industries segment to dominate the global microscopy market
The industries segment is estimated to account for the largest share of the microscopy market in 2021. The large share of this segment is mainly attributed to the high demand for microscopes for qualitative and quantitative analysis in the semiconductor industry, rising application of nanotechnology in various fields, and increased utilization of microscopes in food testing laboratories.
Asia-Pacific: Fastest-growing Regional Market
In 2021, North America is estimated to command the largest share of the global microscopy market, followed by Asia-Pacific, Europe, Latin America, and the Middle East & Africa. However, Asia-Pacific will be the fastest-growing regional market due to increasing attention towards regenerative medicine, growing electronics & life science industry, government initiatives to enhance food safety, and significant growth in the pharmaceutical industry.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past four years. The key players profiled in the global microscopy market report includes CARL ZEISS AG (Germany), Nikon Corporation (Japan), Bruker Corporation (U.S.), Olympus Corporation (Japan), JEOL Ltd. (Japan), Danaher Corporation (U.S.), Hitachi High-Tech Corporation (Japan), Thermo Fisher Scientific Inc. (U.S.), Oxford Instruments plc (U.K.), Accu-Scope Inc. (U.S.), Meiji Techno Co., Ltd. (Japan), and Labomed, Inc. (U.S.).
Scope of the Report
Microscopy Market, by Product
- Microscopes
- Accessories
- Software
Microscopy Market, by Type
- Electron Microscopes
- Scanning Electron Microscopes
- Transmission Electron Microscopes
- Optical Microscopes
- Compound Microscopes
- Stereo Microscopes
- Confocal Microscopes
- Digital Microscopes
- Inverted Microscopes
- Other Optical Microscopes
- Scanning Probe Microscopes
- Atomic Force Microscopes
- Scanning Tunneling Microscopes
- Near-Field Scanning Optical Microscopes
- Others Microscopes
Microscopy Market, by Application
- Research Applications
- Diagnostics Applications
- Surgical Applications
- Material Analysis
- Quality Assurance & Quality Check
Microscopy Market, by End User
- Industries
- Electronics and Semiconductor Industry
- Healthcare Industry
- Food & Beverages Industry
- Other Industries
- Academic & Research Institutes
- Other End Users
Microscopy Market, by Geography
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
Key questions answered in the report: