Asia Pacific (APAC) is the largest regional market for microscope software in 2019
Northbrook, IL -- (SBWIRE) -- 11/06/2020 -- According to the new market research report "Microscope Software Market by Microscope (Optical, Electron, Raman), Category (Integrated, Standalone), Application (Semiconductor, Aerospace, Automotive, Healthcare, Medical Device, Implant), Region (North America, Europe) - Global Forecast to 2025", published by MarketsandMarkets™, the Microscope Software Market is projected to reach USD 1,021 million by 2025 from USD 567 million in 2020, at a CAGR of 12.5% between 2020 and 2025.
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The growth of the global microscope software market is largely driven by the growing availability of funding and support for R&D in the area of microscopy, a broad application base (since microscopes are widely used in a range of fields, such as semiconductor, life science/healthcare, aerospace, and material sciences), technological advancements in microscopes and microscope software, and the emergence of new application area. Furthermore, emerging markets such as China, India, Brazil, and countries in the Middle East are expected to offer significant growth opportunities for market players in the coming years, primarily due to the rising R&D funding for microscopy, increasing application of correlative microscopy in life sciences and nanotechnology research.
Optical Microscopes to dominate the microscope software market in 2019
Based on the type of microscope, the market is segmented into optical microscopes, electron microscopes, Raman microscopes, and other microscopes. The optical microscopes segment is expected to dominate the market during the forecast period. This is attributed to factors such as the wide availability of advanced optical microscopy instruments and techniques. Also, the low cost of optical microscope software is contributing to the growth of this market segment.
The healthcare industry accounted for the largest share of the market, by application, in 2019
The microscope software available in the market are based on five major applications—semiconductors, healthcare, automotive, aerospace, and other industries. The healthcare industry segment is expected to dominate the microscope software market in 2019. This is attributed to the wide use of microscopes and microscope software in various applications, such as biological research, medicine, cancer research & drug testing, increasing research investments, and government initiatives to encourage research & development in life sciences. This segment further witnessed the highest growth in the market in 2019.
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Asia Pacific (comprising Japan, China, India, and the Rest of Asia Pacific) accounted for the largest share of the global market, followed by North America. Factors such as the significant R&D budgets, wide availability of advanced microscopy software offered by market leaders, 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 microscope software market in the Asia Pacific. Emerging markets such as China, India, Brazil, and countries in the Middle East are expected to offer significant growth opportunities for market players in the coming years, primarily due to the rising R&D funding for microscopy.
Prominent players in the market are Danaher Corporation (US), Carl Zeiss AG (Germany), Oxford Instruments plc (UK), Nikon Corporation (Japan), Olympus Corporation (Japan), Thermo Fisher Scientific (US), Hitachi High-Tech Corporation (Japan), JEOL Ltd. (Japan), Scientific Volume Imaging B.V. (Netherlands), arivis AG (Germany), DRVISION Technologies (US), Media Cybernetics, Inc. (US), Gatan, Inc. (US), Basler AG (Germany), Nanolive SA (Switzerland), Nion Company (US), and Object Research Systems, Inc. (Canada).