Improved Global Funding to Boost Global Microscopy Devices Market to US$9.7 bn by 2020
Transparency Market Research (TMR) has recently published a report on the global microscopy devices market, according to which, the market is projected to rise at a healthy CAGR of 7.60% during the period from 2014 and 2020.The research report, titled “Microscopy Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” estimates this market to increase from a total value of US$5.8 bn in 2013 to US$9.7 bn by the end of the forecast period.
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Primarily, microscopy devices are used to magnify the appearance of objects that are too small to be seen through naked eyes. The advancement in science and technology and the increase in research and development activities have increased the utilization of these devices significantly across the world. The rapid rise in the nanotechnology industry is another prominent factor, driving the demand for microscopy devices in the global arena.
The report studies the worldwide market for microscopy devices on the basis of the product, application, and the regional spread of this market. Based on the product, the market has been segmented into optical microscopes, electron microscopes, scanning probe microscopes, and other microscopy devices. In 2013, the demand for optical microscopes was the highest among all. This segment generated a revenue of US$2.2 bn in 2013, accounting for a share of 38.9% in the overall revenue generated in the global microscopy devices market. Electron microscopes ranked second in terms of demand in the microscopy devices market in 2013.
On the basis of application, the global market for microscopy devices has been categorized into material sciences, life sciences, nanotechnology, semiconductors, and other application areas. In 2013, microscopy devices enjoyed the highest demand in the life sciences industry. The trend is likely to continue in the near future and the demand from this segment is projected to rise at a CAGR of 6.40% during the forecast period. On the other hand, the demand from the nanotechnology segment is likely to increase at the fastest rate, registering a CAGR of 12.40% over the same period of time, notes the study.
Regionally, the global microscopy devices market has been classified into Europe, Asia Pacific, North America, and the Rest of the World in this report. Asia Pacific emerged as the leading regional market for microscopy devices in 2013 with a share of approximately 50% and was closely followed by North America. Both the regional markets were boosted by the increasing research and development activities in microscopy devices.
Analysts expect this trend to continue in the coming years. China is anticipated to dominate the Asia Pacific microscopy devices market during the forecast period, states the research report.
Olympus Corp., Nikon Corp., NT-MDT Co., Leica Microsystems, JEOL Ltd., Hitachi High-Technologies Corp., FEI Co., Danish Micro Engineering A/S, Carl Zeiss AG, Cameca SAS, and Bruker Corp. are the prime international producers of microscopy devices, mentioned in this report.
Full Research Report on Global Microscopy Devices Market: