Transparency Market Research (TMR) has published a new report titled, “Global Microscopy Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”. According to the report, the global microscopy devices market was valued at US$ 6,000 Mn in 2016 and is projected to expand at a CAGR of 8% from 2017 to 2025. The report suggests that rise in demand for advanced microscopy devices due to increase in chronic and acute disease diagnosis, surge in pharmaceutical and biotechnological researches, and drug discovery operations are expected to fuel the growth of the global microscopy devices market from 2017 to 2025.
The global microscopy devices market is growing at a rapid pace owing to emerging new and advanced technologies and rise in demand for pharmaceutical and cell biology research. Increase in development of new integrated microscopes and surge in demand for microscopes in the fast-growing life sciences industry are the other factors driving the global market. However, high cost of microscopes and low budget for R&D in the life science industry are the major restraints of the global microscopy devices market. Asia Pacific and North America are projected to dominate the global microscopy devices market in the next few years owing to increase in manufacturer focus for business expansion in these regions. Players are developing advanced microscopy devices for research operations and entering into distribution agreements to strengthen their presence in Asia Pacific and North America. Rise in adoption of technologically advanced products manufactured by local manufacturers, such as Optomic, is likely to drive the microscopy devices market in Europe. The market in Europe is expected to expand at a CAGR of 8% from 2017 to 2025.
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Optical Microscopy Dominates the Market, Followed by Electron Microscopy
The report offers detailed segmentation of the global microscopy devices market based on product type, application, and end-user. In terms of product type, the market has been classified into optical microscopy, scanning probe microscopy, electron microscopy, and microscopy accessories. The optical microscopy segment is poised to account for the leading share of the global market during the forecast period from 2017 to 2025. Factors attributed to the higher share of the segment include increase in demand for different types of optical microscopes and low cost of stereo and phase contrast microscopes. The scanning probe microscopy segment is likely to register comparatively higher growth rate in terms of revenue during the forecast period owing to continuous innovations in the product technologies by major players.