Redding, California, Sept. 10, 2021 (GLOBE NEWSWIRE) -- According to the latest report tittled, “Microscopy Market by Product (Microscopes, Software), Type [Optical (Compound, Digital), Electron (SEM, TEM), Scanning Probe (AFM, STM)], Application (Research, Material), and End User (Electronics, Healthcare, F&B, Academic) - Forecast to 2028’, published by Meticulous Research®, the microscopy market is expected to grow at a CAGR of 4.2% from 2021 to 2028 to reach $11.71 billion by 2028.
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Over the past few years, there has been a significant rise in funding to universities engaged in the R&D of microscopes. The funding has allowed the universities or academic institutions to set up new facilities for developing high-tech microscopes to open up new, previously inaccessible research areas for scientists and researchers. Thus, encouraging funding scenarios for R&D in microscopy, technological innovations and advancements in microscopes, the increasing focus on regenerative medicine and nanotechnology, and rising academia-industry collaborations are resulting in rising adoption of microscopes.
COVID-19 to Increase the Adoption of Microscopes for R&D Activities
Microscopy is widely used in academic & research institutes and across various industries, such as electronics and semiconductors, healthcare, food & beverage, chemicals, automotive, aerospace, ceramics, synthetic rubber, paints and coatings, plastics, and environment for research applications ranging from particle analysis and material characterization to industrial failure analysis and process control. The COVID-19 pandemic has deteriorated the global business environment and created uncertainties for the microscopy market. The pandemic negatively impacted various industries by hampering production and supply chains due to the lockdowns and working restrictions imposed.
Though there are various restrictions, many countries are taking initiatives to enhance the research activity. For instance, in June 2020, researchers at the Ottawa Hospital Research Institute (Canada) developed a mouse model of COVID-19 that mimics the severe lung disease seen in humans. This study was conducted to find ways to treat and prevent COVID-19 infection.
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In March 2020, the Minister of Innovation, Science, and Industry (Science) (Canada) announced a grant of USD 6.9 million to support stem-cell research, including nine projects and four clinical trials conducted across the country aimed at bringing new therapies and promoting the growth of Canada’s regenerative medicine sector. Companies are also adopting new strategies to align with this trend and support their customers' digital needs during COVID-19. For instance, in September 2020, Nikon Corporation (Japan) launched the ECLIPSE Ei educational microscope for remote teaching and an enhanced learning experience. The ECLIPSE Ei’s Online mode provides quick and easy access to tutorials, enabling students to learn independently. Thus, such initiatives from both supply & demand sides help to drive the market.
The microscopy market is segmented on the basis of product, type, application, and end user. The study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on type, the electron microscopes segment is estimated to account for the largest share of the overall microscopy market in 2021. The large share of this segment is mainly attributed to the growing utilization of electron microscopy in various industries for materials analysis and research, high demand for advanced magnification devices, and increasing attention towards nanotechnology.
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In terms of application, the research applications segment is estimated to account for the largest share of the overall microscopy market in 2021. Increasing new strains, support from the government to promote research, and rising demand for biotech & pharma products are some of the major factors driving the growth of this segment.
In terms of end user, the industries segment is estimated to account for the largest share of the overall microscopy market in 2020. Growing demand from the food industry for testing, rising infectious diseases, and number of R&D activities supported the highest adoption by this end user.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa. In 2021, North America is expected to dominate the global microscopy market. 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.
The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market participants in the industry from 2018 to 2021. For instance, in April 2021, Olympus Corporation (Japan) added deep-learning technology into Olympus cellSens imaging software to improve research efficiency with accurate object detection and segmentation.
The key players operating in the global microscopy market are 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.) among others.
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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
- Diagnostics
- Surgical
- 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
- U.S.
- Canada
- 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
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