Global Automated Microscopy Market: Snapshot
Microscopes are used to view items that are invisible to the naked eye and are thus used as scientific instruments for investigating and understanding the subject in question in a microscopic way. Automated microscopy adjusts and determines the light shutter, wavelength selection, focus and stage control, illumination source for live-cell imaging and software for live-cell imaging in an electromechanical way. Presently the global automated microscopy market is showing a steady growth rate due to the rapid technological advancements, increasing number of application areas and rising government funding in emerging application areas like nanotechnology. Owing to these reasons, the global market is projected to progress at a CAGR of 8.5% between 2016 and 2024. Analysts anticipate that the global market will be worth US$8.05 bn by the end of 2024 from at US$3.86 bn in 2015.
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Increasing Funding for Nanotechnology Research Boosts Global Market
The increasing focus on nanotechnology research, which is heavily funded by corporate enterprises and governments, is enabling the purchase of advanced automated microscopes by various research institutes. The growth of this market is primarily attributed to increasing global funding towards major application areas, growing demand of advanced microscopes for more precise and high-resolution magnification, and increasing focus of various organizations on research and development activities.
The report states that the automated microscopy market has tremendous scope for growth and several lucrative opportunities in the emerging markets of Asia Pacific and North America due to growing acceptance of nanotechnology and miniaturized semiconductor industries. Countries such as China, India, Japan, Russia, the U.S., Canada, and Australia are expected to be major contributors to the overall market in the coming years. With the increasing development of nanotechnology and downsizing of semiconductor devices, the automated microscopy is set to improve in the coming years.
On the basis of application, the global automated microscopy market is segmented into medical diagnostic, nanotechnology, material science, life science, and semiconductors. Among the various application areas of microscopy devices, life sciences industry held the largest share in 2015 and is expected to lose it by a small margin by 2024. The factors responsible for this loss will be decreased government funding towards life sciences industry, which has resulted in the slow procurement of microscopy devices in the life sciences application market. However, this segment is still projected to dominate the global market in the coming years. The report also indicates that the nanotechnology, material sciences and semiconductors segments will show steady progress in the coming years.
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Asia Pacific to Lead Global Market with Steady Government Support in the Region
Geographically, Asia Pacific accounts for the largest market share of approximately 38% in 2015 in the global automated microscopy devices market in 2015 followed by the North America region. The dominance of Asia Pacific region is attributable to the presence of a large number of manufacturers in this region particularly in Japan, favorable government support, and increasing number of contract manufacturing organizations. In addition, cost-effective manufacturing of devices and components, growing healthcare infrastructure, and tremendous funding towards modern emerging technologies like nanotechnology further accentuating the growth of this market.
The key players operating in the global automated microscopy market are Bruker Corporation, Carl Zeiss AG, FEI Co., Hitachi High-Technologies Corporation, JEOL Ltd., Leica Microsystems, and Nikon Corporation among others.