- Spending on life sciences and nanotechnology will lead to sustained industry growth
MOUNTAIN VIEW, California, June 27, 2012 /PRNewswire/ -- The need to overcome long sales cycles and the saturation of the light microscope segment represent some of the key industry challenges today within the global microscope market. Leaders in this market are overcoming this challenge by offering software-defined architectures with better statistical analysis performance capabilities that acquire a higher quality of data. Software applications are giving end-users different ways to improve complexity in sample data analysis.
New analysis from Frost & Sullivan (http://www.measurement.frost.com), Analysis of the Microscopes Market, finds that the global microscope markets earned revenues of $3.18 billion in 2011 and is expected to grow at a compound annual growth rate (CAGR) of 8.0 percent during the forecasted period between 2012 and 2018.
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Although the growth of the market is focused on advanced research microscopes and complex digital imaging systems, there is a large and saturated market for light microscopes with high longevity to serve traditional applications and educational use. The light microscopes longevity and saturation thus restrains growth of the market.
"The market has reached a highly saturated growth phase," said Senior Research Analyst Mariano Kimbara. "There is minimal capacity for alternative techniques in this segment within the long-term."
Nevertheless, microscope manufacturers are constantly driven to increase the performance capabilities of their products, acquire data and add new features for image processing to meet demands in emerging applications such as nanotechnology.
"A main driving factor driving demand for microscopes is the development of nanotechnology and increasing spending in life sciences," said Kimbara. "There has been a significant rise in funds allocated for characterization and synthesis of nanomaterials research."
For example, there have been significant technological advancements in the field of nanolithography. These include the analysis of nanometer structures in a wide range of dimensions related to dip pen nanolithography, electron beam direct or ultraviolet lithography, thereby creating significant demand for microscopes.
Analysis of the Microscopes Market is part of the Measurement & Instrumentation Growth Partnership Services program, which also includes research in the following markets: General Purpose Test & Equipment and Modular Instruments for Test & Measurement. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Analysis of the Microscopes Market
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SOURCE Frost & Sullivan