Magnification and visualization devices play an important role in influencing market growth. These devices are mainly used in polymer industry, nanotechnology, and agriculture & atomic studiesin microscopy market.
The shifting focus towards nanotechnology, increased government & corporate fundings, advancement in technology such as high-throughput techniques and digitization of microscopes are few of the factors which are likely to fuel the market growth. However, factors such as high cost of advanced microscopes, execution of excise tax by the U.S. government, and heavy customs duty on medical devices are likely to restrict the market growth over the forecast period.
Increased public and private funding in R&D is anticipated to be one of the key factors stimulating market growth over the coming years. This increasing trend is expected to continue in the future as research institutions and companies are looking to innovate and create breakthroughs in various fields.
Electron technology based products segment has accounted for the highest market share owing to increased R&D expenditure. The segment is anticipated to dominate throughout the forecast period due to rising popularity of advanced electron technology product base such as SPM.
Optical technology bases products with more accuracy and innovative behaviour are likely to display a significant growth rate. They are widely used in academic and life science research institutes for cellular or subcellular imaging.
The innovation in products including faster performance and easy sample preparation techniques are anticipated to help the market grow over the coming years. In addition, linking of display modalities to display images in high quality and 3-D views are likely to drive the demand for microscopes over the forecast period.
Based on applications, market is segmented into nanotechnology, material science, life science and semiconductors. Life science segment dominated the market accounting for more than 30% of the total revenue share in 2016. Nanotechnology is estimated to be the rapidly growing segment over the coming years. Increasing investment in nanotechnology Research & Development is expected to boost the demand for these devices in the near future.
North America accounted for more than 30% of the revenue share in 2016. Availability of a large number of research and development centres, high acceptance rate for the advanced technology among others are few of the factors that led to this dominance. Moreover, increased government expenditures in R&D in various fields is driving the demand for this sector in North America.
Asia Pacific is anticipated to witness fastest growth over the forecast period. The presence of major players in countries such as Japan along with few local manufacturers of China and India are contributing towards the microscopy market growth.
End Use Landscape:
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase from microscopy market. The major consumers of the product are Harvard University, University of Oxford and Stanford University.
Few of major players of the market include Asylum Research, Nikon Corporation, JeoL Ltd., FEI Company, CAMECA Instruments, Hitachi High-Technologies Corporation, Bruker Corporation, NT-MDT Company, Carl Zeiss AG, and Olympus Corporation.
In 2013, the Biotechnology and Biological Sciences Research Council invested around USD 16 million in advanced scientific research instruments.
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