The Microscopy Devices market study analyzes each market player encompassed in the market study as per its market share, production footprint, current launches, agreements, ongoing R&D projects, and market strategies. SWOT analysis has been performed in the market study to investigate the strengths, weaknesses, opportunities and threats of each player.
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The usage of microscopy devices has registered an uptick in the past few years. Microscopes have allowed in-depth academic and exploratory research in various branches of science. Amongst the wide range of sciences, the life sciences division has found increased usage of microscopy devices, particularly in cell biology.
Also, the need for more penetrative media to identify cells has boosted technological developments in microscopic devices. On the back of these trends, the global microscopy devices market is poised to expand 1.6x, registering a CAGR of 8.5% throughout the forecast period (2020-2025).
Nowadays, major life science companies are increasingly seeking the services of contract research organizations (CROs) to reduce their overall expenditure and concentrate on their core businesses. This has enabled several microscopy service providers to invest in research and development of microscopes. The ongoing coronavirus pandemic is anticipated to leverage market prospects.
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With the number of infections climbing at an exponential rate, hospitals and other healthcare settings have experienced an uptick in the number of diagnostic tests to determine the presence of the virus. On the back of this, the usage of microscopes to detect potential pathogens has increased. Leading players are therefore concentrating on streamlining their production processes to cater to this increased demand.
Global Microscopy Devices Market: Market Segmentation
Fact.MR has studied the global microscopy devices market with detailed segmentation on the basis of product type, application, end-users and regions.
||Cell and Molecular Biology||Hospitals||North America|
||Pharmacology and Toxicology||Diagnostic Laboratories||Europe|
||Clinical Pathology and Diagnostics||Ambulatory Surgical Centers (ASCs)||Asia Pacific|
||Surgery||Physician Offices||Latin America|
|Biomedical Engineering||Academic & Research Institutes||Middle East & Africa (MEA)|
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Key Takeaways of Global Microscopy Devices Market Study:
- Optical microscopes are projected to account for a major chunk of the market, capturing more than three-fifths of the market share. Rising demand for different types of optical microscopes such as fluorescence and inverted microscopes and low cost of stereo and phase contrast microscopes shall drive the segment’s growth.
- By application, Cell and Molecular Biology and Biomedical engineering are anticipated to make exhaustive utilization of microscopy devices. This is due to increased adoption of microscopes in microbiology, cell culture, healthcare monitoring and launch of new therapeutic products. Projected CAGR for both segments is pegged at 8.3%.
- Clinical Pathology and Diagnostics shall find equally important microscopy applications, for understanding pathological changes in conditions such as Alzheimer’s and Parkinson’s diseases and chronic diseases. Anticipated CAGR for this segment is a staggering 8.2%.
- By end-users, diagnostic laboratories are anticipated to find maximum usage of microscopy devices. The need to accurately identify potentially life-threatening diseases such as tuberculosis and immunological ailments such as HIV-AIDS and diabetes in order to suggest appropriate corrective course of action is anticipated to drive the segment’s growth.
- Asia-Pacific is projected to emerge as the leader of the global microscopy devices market, capturing more than half of the total market share. An emerging pharmaceutical industry, liberalization and deregulation of key markets and rising adoption of electron and scanning probe microscopes shall drive the Asia-Pacific regional growth.
- However, North America is projected to soar in popularity due to increased patent filing approvals, increased government funding for life sciences projects, greater flexibility in regulations and high transparency. Besides, adoption of optical microscopes is poised to increase during the forecast period. The region is set to expand 1.6x, capturing nearly one-fourth of the global microscopy devices market.
The Microscopy Devices market report provides the readers with the below-mentioned insights:
- Key trends, including ecological conservation, patented solutions, and globalization.
- Consumption pattern of each segment of the market in every region.
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- Critical analysis of R&D activities performed by market players to expand their production footprint across various industries.
- Thorough research of effect of the market across various end use industries.
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The Microscopy Devices market report gets rid of the following queries:
- Which end use has the highest rate of consumption and why?
- Which regions are the market players targeting to gain a competitive edge?
- What is the growth forecast of the global market in region?
- What is the Y-o-Y growth rate of the global market?
- Which segment will have the maximum share of the global market by the end of year?
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