CHICAGO, Oct. 8, 2019 /PRNewswire/ -- According to the new market research report "Microscopy Market by Product (Microscope, Software, Accessories), Type (Optical Microscope (Confocal, Stereo), Electron Microscope (SEM, TEM), AFM, STM), Application (Semiconductor, Life Science), End User (Industrial, Research) - Global Forecast to 2024", published by MarketsandMarkets™, the Microscopy Market is expected to grow from USD 6.3 billion in 2019 to USD 8.2 billion by 2024, at a CAGR of 5.5% during the forecast period.
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The favorable funding scenario for R&D in microscopy, technological advancements in microscopes, and rising focus on nanotechnology and regenerative medicine are the key factors driving the market growth
Microscopes segment to account for the largest share of the global Microscopy Market in 2019
Based on the product, the Microscopy Market is segmented into microscopes, software, and accessories. Microscopes are expected to account for the largest share of the Microscopy Market in 2019, owing to the factors such as availability of technologically advanced microscopes, favorable funding scenario for R&D in microscopy, and favorable regulatory procedures to launch new instruments in the market.
Optical microscope segment to account for the largest share of the global Microscopy Market in 2019
Based on type, the Microscopy Market is segmented into optical microscopes, electron microscopes, scanning probe microscopes, and other microscopes. In 2019, the optical microscopes segment is expected to account for the largest share of the global Microscopy Market by type. This is attributed primarily to the increasing applications of digital and confocal microscopes in material science and semiconductor and life science industries, and the increased focus on developing advanced digital microscopes.
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Semiconductors projected to account for the largest application segment of the market in 2019
Based on application, the Microscopy Market is segmented into semiconductors, life sciences, material sciences, and other applications (automotive, aerospace, electronics, and environmental and water treatment applications). The semiconductor segment is expected to dominate the market in 2019. In the semiconductor industry, the manufacturing of miniature transistor chips, nanoelectronics, quantum dots, and optoelectronics is growing with a significant rate, which in turn driving the microscopes demand for semiconductor research and manufacturing applications.
Industries are projected to account for the largest end-user of the market in 2019
Based on end-user, the Microscopy Market is segmented into industries, academic & research institutes, and other end-users such as hospitals, diagnostic centers, blood banks, and forensic labs. In 2019, the industries segment is expected to account for the largest share of the global Microscopy Market by the end-user. It is also the fastest-growing segment due to the increasing production of micro and nanoparticles in the semiconductor, electrical, and material industries, which have subsequently driven the demand for microscopes. The availability of government and corporate funding and technological innovations are other factors contributing to the growth of this market.
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North America is projected to account for the largest share of the market in 2019
In 2019, North America is expected to account for the largest share of the global Microscopy Market, followed by Europe. The largest share of the North American market is attributed to the significant R&D budgets, abundant availability of advanced microscopy systems offered by market leaders, high and growing focus on nanotechnology, and the presence of a large number of major research institutes and universities in the region are driving the growth of the Microscopy Market in North America
The major companies in the global Microscopy Market include Carl Zeiss (Germany), Danaher (US), Thermo Fisher Scientific (US), Nikon (Japan), Olympus (Japan), Hitachi High-Technologies (Japan), JEOL (Japan), and Bruker (US).
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