The global market for microscopes is expected to reach USD 7,343.7 million by 2020, according to a new study by Grand View Research, Inc. Growing private and government support for nanotechnology R&D is expected to have a positive impact on microscope demand over the next six years. In addition, growing demand for advanced and high resolution microscopes such as super resolution microscopes for conducting R&D exercises in the fields of life sciences and nanotechnology is also expected to have a positive impact on demand over the forecast period.
Emergence of new application areas such as quantum dots and miniature transistor chips will serve this market as future growth opportunities. Quantum dots technology is currently in a nascent stage and is expected to cater to multiple application areas such as in transistors, diode lasers, quantum computing, biological imaging, solid-state lighting, electroluminescent displays and photo-voltaic cells. Optical microscopes dominated the market in 2012, accounting for over 39% of total revenue, primarily owing to their large application base. However, due to rising adoption rates of advanced microscopes, scanning probe microscopes and electron microscopes are expected to gain market share over the next six years. Scanning probe microscopes are expected to be the fastest growing product segment, at an estimated CAGR of 18.0% from 2014 to 2020. Features such as non dependence on wavelength of the source light, resolving atoms and generating better 3D maps of surfaces are some of the factors expected to increase market penetration for these products.
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Further Key findings from the study suggest:
- North America dominated the overall microscopes market in terms of revenue share in 2012. Its market is expected to reach USD 2,094.5 million by 2020, growing at a CAGR of 8.0% from 2014 to 2020.
- Asia Pacific is expected to be the fastest growing market, at an estimated CAGR of 14.3% from 2014 to 2020. Evolving demand for semiconductors and positive outlook on application markets is expected to be a key driver for microscope demand in the region.
- Semiconductors and life sciences dominated the microscope application market, together accounting for over 55% of global revenues in 2012.
- Nanotechnology is expected to be the fastest growing application market for microscopes, with demand expected to reach USD 1,285.7 million by 2020, growing at a CAGR of 15.1% from 2014 to 2020.
- The global microscopes market is oligopolistic in nature. Key market participants include Olympus Corporation, Hitachi High-Technologies Corporation, Nikon Corporation, FEI Company, JEOL Limited, Carl Zeiss and Leica Microsystems.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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