The life science microscopy devices market is expected to witness stable growth during the forecast period of 2016-2024. Advancements in the microbiology sector are at an all-time high. The increased funding by the government bodies of numerous countries on research and development activities in the microbiology sector will bring good growth opportunities during the forecast period.
Due to rising funding initiatives in North America, it is expected to emerge as the largest regional growth contributor during the forecast period of 2016-2024. North America’s life sciences microscopy market also constituted 47.3 percent of the global life science microscopy devices market in 2015.
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A microscope device is used for observing and studying small objects. The image of the object is magnified and makes an object appear larger than its actual size. It is prominently used in the life sciences sector for studying cells and other objects.
The application landscape of life science microscopy devices has widened considerably over the years. The overwhelming use of these devices in material science, biotechnology, nanotechnology, and life science industries will invite considerable growth opportunities for the life science microscopy devices market.
Research activities have increased considerably over the years. Medical experiments are gaining considerable traction. This factor influences the growth cycle of life science microscopy devices market. The players in the life science microscopy devices market are developing technologically advanced microscopes to offer accuracy in studying different aspects in the life science sector. These factors bode well for the growth of life science microscopy devices market.
Further, the players also indulge in strategic collaborations to expand their production capacities and strengthen their influence across the life science microscopy devices market. These factors have a profound impact on the growth trajectory of the life science microscopy devices market.
Transparency Market Research’s (TMR’s) report on the life science microscopy devices market has every component that will assist the stakeholder in understanding the current scenario. The overall market research survey on life science microscopy devices by TMR suggests a stable growth period.
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According to the TMR experts, the market for life science microscopy devices is prognosticated to expand at 6.5 percent CAGR during the forecast period of 2016-2024. In the context of valuation, the life science microscopy devices market is estimated to reach US$ 2.0 bn by 2024. The global market was valued at US$ 1.1 bn in 2015.
Integration of Subsidiary Devices and Equipment with Life Science Microscopy Devices to Boost Growth Prospects
With an increase in research activities, the demand for the integration of subsidiary devices and equipment is expanding at a rapid pace. The convenience quotient is playing an important role in propelling the demand for these devices. They offer varied advantages, with easy scanning and microbial analysis being the prominent ones. This aspect has increased the popularity of subsidiary devices, eventually contributing to the growth of life science microscopy devices market.
Research Funding from Various Regions, Especially North America, to Bring Exponential Growth for Life Science Microscopy Devices Market
The research funding across the life science sector by the government and non-government bodies is increasing exponentially. Most of the funding is being done in the North American region. This aspect will help in expanding the growth horizon of life science microscopy devices market in North America. Owing to these aspects, North America held a 47.3 percent growth-share across the global market for life science microscopy devices in 2015 and will continue to dominate the regional landscape.
Some well-established players in the life science microscopy devices market are Carl Zeiss Microscopy GmBH, Leica Microsystems, Bruker Corporation, Nikon Corporation, and Cameca SAS.
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