Transparency Market Research Report Added "Microscopy Devices Market" to its database.
Albany, NY -- (SBWIRE) -- 04/01/2016 -- he growth of the global microscopy devices market is gaining momentum due to several reasons. Pioneered by the Dutch almost a millennium ago owing to their mastery in optical lenses, today, microscopes have evolved and diversified exponentially. Besides their use for academic and exploratory research, microscopes are finding utilization in newer areas of nanotechnology, atomic-scale semiconductor devices that require higher penetrative mediums such as electrons, and X-rays. Thus, the use of microscopes befits nanoscale-range observations, thereby boosting innovations in several areas of exploratory research.
Research-based Innovation Drives Demand for Microscopes in Industrial Applications
In the present times, it is the industrial segment that exhibits the largest demand for advanced microscopes, which is observed mainly in the microprocessor and integrated circuit manufacture industries. Besides their novel uses, optical microscopes have always been used in medical fields, schools and educational academies to introduce microscopic use to students at the elementary level. Due to the increasing proliferation of microscopes across several fields, newer equipment is being manufactured in creative designs and attractive colors for young individuals.
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In spite of the proliferation of microscopes in practically every field that requires research and testing, the microscopy devices market is displaying a slowed progression. The recently ended economic slump in Europe and in the Middle East are among the reasons for this. The premium pricing of advanced microscopes has limited their use in developing countries. The growth of the microscopy devices market is also hindered due to instrument-related complexities of advanced microscopic devices.
These factors will result in the microscopy devices market reaching a valuation of US$9.69 bn by 2020 increasing from US$5.75 bn in 2013 at a CAGR of 7.6% for the period.
Optical Microscopes Dominated Microscopy Devices Market in 2013
Product, application, and geography are the three criteria based on which the microscopy devices is divided. By product, electron microscopes, scanning probe microscopes, optical microscopes, and others are the segments of this market. Amongst these, optical microscopes accounted for a share of 38.9% in the global market in 2013. The segment registered sales of US$2.23 bn in 2013 and comprises stereo microscopes, fluorescence microscopes, near field scanning microscopes, inverted microscopes, phase contrast microscopes, and confocal scanning microscopes.
In 2013, electron microscopes stood as the second-largest product segment. Transmission and scanning electron microscopes are the sub-segments of electron microscopes. Scanning probe microscopes comprise atomic force microscopes and scanning tunneling microscopes.
On the basis of application, life sciences, material sciences, nanotechnology, semiconductors, and others are the segments of the microscopy devices market. Of all, in 2013, it was the life sciences segment that enjoyed a clear dominance and is expected to rise at a CAGR of 6.4% from 2014 to 2020. It is the semiconductors segment that held the second-largest share in the global market in the same year. Nevertheless, nanotechnology will display the fastest growth at a robust CAGR of 12.4% for the 2014-2020 period.
In terms of geography, North America, Asia Pacific, Europe, and Rest of the World are segments of the market. With a share of 40.9% in the overall market, Asia Pacific stood as the leader in the microscopy devices market in 2013. In several countries of this region, government-backed research and development programs that are carried out for the betterment of healthcare and industrial growth are reasons for this. As per the World Bank, presently, China is the second-largest investor in R&D programs.
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