Microscopy Devices Market size is forecast to reach $8.1 billion by 2027 and is expected to grow at a CAGR of 7.7% during the forecast period 2022-2027. Microscopy devices are primarily utilized for activities such as Research and Development and quality control in industries like pharmaceuticals, electronics, and life sciences. Some of the most commonly used microscopy techniques include scanning probe microscopy, atomic force microscope, scanning tunneling microscope, near-field scanning Optical microscope, and fluorescence interference contrast microscopy. The surge in Research and Development activities in the biopharmaceutical and healthcare industry combined with the rising production of semiconductor chips in 2022 after the massive decline in the industry during 2020, are some of the key factors driving the growth of the microscopy devices industry during the forecast period.
Microscopy Devices Market Report Coverage
The report: “Microscopy Devices Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Microscopy Devices Market.
By Product Type: Optical Microscopes, Confocal Microscopes, Stereo Microscopes, Digital Microscopes, Compound Microscopes, Electron Microscopes (scanning electron Microscopes, Transmission electron Microscopes), Scanning Probe Microscopes, Atomic Force Microscopes, Scanning Tunneling Microscopes, Near-Field Scanning Optical Microscopes and Other Microscopes.
By Type: Microscopes, Accessories, Software.
By Application: Nanotechnology, Life Science, Semiconductor, Material Science and Others.
By End Use Industry: Hospitals, Clinics, Diagnostics Laboratories, Academic & Research Organizations and Others
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Columbia and Rest of South America), and Rest of the World (Middle East, and Africa)
Key Takeaways
- North America dominated the microscopy devices market in the year 2021 owing to the presence of a high number of Research and Development institutions, academic institutions, biopharmaceutical companies, and the existence of advanced healthcare infrastructure in the region.
- Growing technological advancements in the field of microscopy coupled with the rising R&D expenditure of major end-user industries are anticipated to drive the market during the forecast period.
- However, the extremely high cost of advanced microscopy devices and their subsystems are anticipated to hamper the market growth of the microscopy devices Industry.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Microscopy devices Market report.
Microscopy Devices Market Segment Analysis – By Product Type
Based on Product Type, the microscopy devices market can be segmented into optical microscopes, confocal microscopes, stereo microscopes, digital microscopes, compound microscopes, electron microscopes, scanning electron microscopes, transmission electron microscopes, scanning probe microscopes, atomic force microscopes, scanning tunneling microscopes, near-field scanning optical microscopes, and other microscopes. The Scanning Probes Microscope segment accounted for the largest share of the market in 2021 owing to its ability to visualize subcellular components. The growth of this category is being fueled by an increase in the number of applications and quick technical advancements. Natural surface topography, research nanostructures such as integrated circuits and diffraction gratings, and biological materials such as DNA and cell membranes all use SPMs. However, the Electron Microscope segment is anticipated to witness the fastest growth with a CAGR of 8.9% during the forecast period of 2022-2027 owing to its extensive use in research laboratories, universities, and nanotechnology centers for both research and quality assurance applications. With the use of an electron microscopes in such institutions, the structure of various specimens can be observed in great detail to provide information about their function. However, the compound microscope segment is also anticipated to witness robust growth owing to its relatively low cost. Besides, they are also widely used in academic institutions and medical laboratories for studying biological samples.
Microscopy Devices Market Segment Analysis – By Application
Based on Application, the microscopy devices market can be further segmented into nanotechnology, life science, semiconductor, material science, and others. The life sciences segment accounted for the largest share of the microscopy devices market in 2021. This is attributed to the rapid growth of the biopharmaceutical industry during the COVID-19 pandemic. This growth has directly resulted in the rise in R&D and product development activities in the industry. Besides, highly advanced equipment such as electron microscopes is also used in the segment for numerous research activities. However, the semiconductor segment is anticipated to witness the fastest growth with a CAGR of 9.0% during the forecast period 2022-2027 owing to the rapid rise in manufacturing of semiconductor chips in 2022 after the rapid decline of the industry in 2020. For instance, according to the Semiconductor Industry Association, the YoY(Year on Year) semiconductor sales increased by 24% in October 2021 and are anticipated to exceed $600 billion in 2022.
Microscopy Devices Market Segment Analysis – By Geography
North America dominated the geography segment of the Microscopy Devices Market in 2021 with a share of approximately 38%. The rapid growth of the segment is owing to the presence of a highly developed healthcare sector in the US and Canada. Besides, the presence of the majority of the key players operating in the market such as FEI Company, CAMECA Instruments, NT-MDT, Bruker Corporation, and Danaher Corporation. The high domestic competition owing to the presence of major players in the region results in greater innovation and more awareness regarding advanced microscopy devices among the end-user industries in North America.
The Asia Pacific region is anticipated to register the fastest growth during the forecast period 2022-2027 owing to the rising disposable income in major emerging economies such as China and India. moreover, owing to the integration of artificial intelligence in microscopy devices, the Asia Pacific microscopy devices market is likely to rise significantly. For example, in April 2020 Tencent AI Lab developed a smart microscope that uses artificial intelligence (AI) to better assist physicians in identifying cancer and other ailments. The smart microscope is the first of its kind to be granted a license by China's National Medical Products Administration, allowing it to be used in clinical settings which are poised to drive the market growth.
Microscopy Devices Market Drivers
Growing R&D expenditure in biopharmaceutical companies is driving the market growth
The rapid rise in the R&D expenditure of companies operating in the biopharmaceutical industry is driving the market growth as microscopy devices are extensively used within the industry during the research, formulation, and manufacturing stages of pharmaceutical products. For instance, the R&D expenditure of the world’s 11 big pharma companies jumped 11% to $86.3 billion in 2020. Furthermore, it is estimated that Roche invested around 23.8% of its total drug sales back into R&D in 2020. Meanwhile, Pfizer’s R&D expenditure surged from $9.39 billion in 2020 to approximately $13.83 billion in 2021.
Rapid technological developments in the microscopy devices sector are poised to increase the growth of the market
Rapid rise in technological advancements within the global microscopy devices industry is driving the market growth during the forecast period 2022-2027. For instance, in 2021, researchers at the Swiss Federal Institute of Technology developed a new microscopy technique that combines two existing ones, allowing scientists to build high-definition 3D images of cells inside and out. Meanwhile, in 2020, a research team from the Institute of Basic Science (IBS) in Seoul, South Korea made a major breakthrough in deep-tissue optical imaging. They developed a novel optical microscope that can image through an intact skull and acquire a microscopic map of neural networks in the brain tissues without losing spatial resolution.
Microscopy Devices Market Challenges
High cost of microscopy devices is likely to challenge the market growth
The high cost of microscopy devices is a major factor that is challenging product adoption among end-users during the forecast period. For instance, the cost of FEI Tecnai F20 electron microscope can reach approximately $592,500 while a single Philips CM 200F TWIN electron microscope can cost end users up to $450,000. Besides, the price for such devices can go as high as $10 million. Such high costs make them unaffordable for a large number of end-users, especially for those in developing regions.
Microscopy Devices Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Microscopy Devices Market. In 2021, the Microscopy Devices Market share is fragmented by the top ten players present in the market. The Microscopy Devices Market, top 10 companies are:
- FEI Company
- Carl Zeiss AG
- Bruker Corporation
- Danish Micro Engineering A/S
- Cameca SAS
- Leica Microsystems
- NT-MDT Company
- JEOL Ltd.
- Nikon Corporation
- Olympus Corporation
Recent Developments:
- In February 2021, Zeiss announced the launch of a new digital microscope with an extended depth of field in real-time. The Zeiss Visioner 1 is an innovative digital microscope that for the first time enables all-in-one focus in real-time thanks to its Micro-mirror Array Lens System (MALS™).
- In February 2021, Nikon launched the ECLIPSE Si upright microscope, with intelligent time-saving features, an automatic shut-off mode, and an ergonomic design to reduce the physical strain that can result from prolonged microscope use. The ECLIPSE Si also features intelligent features such as a Light Intensity Management function which reduces the time spent on adjusting the light intensity when changing magnifications.
- In June 2019, Olympus Corporation announced the launch of the DSX1000 digital microscope, which significantly improves users’ inspection workflow and enables the analysis of a wide variety of samples with a single tool. The DSX1000 digital microscope is used to observe and measure a variety of samples, including electronic components and metal materials.
Relevant Titles:
Spinning Disk Confocal Microscope Market - Forecast (2022 - 2027)
Report Code: AIR 0231
Scanning Electron Microscope (SEM) Market - Forecast (2022 - 2027)
Report Code: ESR 0125
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