Worldwide Microscopy Market Expected To Reach $ 6.5 Billion By 2020 With A CAGR Of 8.6%

Date: 2016-09-18

The Microscopy market was estimated at USD$ 4.3 billion in 2015, and is anticipated to reach USD$ 6.5 billion by 2020, expanding at a CAGR of 8.6% between 2016 and 2020. Microscopy is the technical field of using microscopes to view objects and areas of objects that cannot be seen with the naked eye (objects that are not within the resolution range of the normal eye). There are three well-known branches of microscopy: optical, electron, and scanning probe microscopy.

On the basis of applications, the microscopy market is categorized into semiconductors, life sciences, nanotechnology, and material science. Nanotechnology is expected to be the new revenue pocket in the application market. Rising focus on nanotechnology, favorable government and corporate funding, and technological advancements are propelling the growth of these segments.

The market is witnessing a rapid shift from conventional microscopes to integrated digital image analysis systems. Microscopy form a major part of large number of research projects that rely on private and government funding. In recent years, the market has seen a considerable increase in the R&D funding from public as well as private sector. Thus, favourable funding scenario is expected to directly boost the demand for research tools including microscopy devices.

Factors such as rising global focus on nanotechnology, favorable government and corporate funding, and technological advancements such as super resolution microscopy, high-throughput techniques, and digitization of microscopes are driving the microscopy market. However, the high cost of advanced microscopes; implementation of excise tax by the U.S. government; and the heavy custom duty on medical devices are hindering the growth of this market. On the other hand, novel application areas such as optogenetics and high potential emerging markets such as China, Japan, and Middle East represents significant growth opportunities for the key players in the microscopy market.
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Joanna | Executive – International Business and partner Relations
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