Life Science Microscopy Devices Market - Global Forecast to 2025

In the field of drug development and research, use of microscopy devices for studies have become important to avoid failures and repetitions. Moreover, digitally enhanced images provided by microscopes could provide insights into target identification and validation, and drug discovery. Hence, the changing approach towards drug development, imaging diagnostic techniques, nanoscience, and structural biology, which incorporates the use of technologically advanced microscopes are expected to increase the demand for life science microscopy devices, in turn boosting growth of life science microscopy devices market. Advantages of life science microscopy devices such as 2 and 3 dimensional measurements of an object, flexibility to increase feasibility of various investigations, and one point focused images are major factors responsible for increasing application of these devices in forensic testing, which is further expected to boost the market growth over the forecast period.

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The global life science microscopy devices market was valued at US$ 1,350.6 million in 2017 and is expected to witness a CAGR of 6.8% over the forecast period (2017–2025).

Technological advancements to enhance the quality of microscopes have become common over the past years. Rising demand for microscopy devices by researchers and academic institutes have encouraged manufacturers to develop new products with novel technologies to investigate different kinds of substances, cells, and materials at nanometer size. Thus, these microscopy devices are highly significant in nanotechnology, biotechnology, semiconductor, material science, and life science industries. Out of these, life science microscopy devices have high demand, as these instruments aid in the investigation or study of cellular interactions at biological levels and various other functions.

Market Dynamics

The global life science microscopy devices market is projected to witness significant growth over the forecast period, owing to the increasing utilization of microscopes for research purpose in life science. For instance, in February 2015, the National Institute of Standards and Technology (NIST) researchers demonstrated the autonomous computer-controlled assembly of atoms in perfect nanostructures using a low temperature scanning tunneling microscope. Furthermore, some of the devices such as stereo microscopes are specifically used in production processes for soldering on a miniature scale and dissecting specimens in biology. Thus, adoption of these devices by pharmaceutical and biotechnology manufacturers for the production of new drugs and therapies is expected to drive growth of the market. Moreover, increasing research and development expenditure by government bodies fosters growth of the life science microscopy devices market. For instance, the Government of India is majorly investing in research, education, and innovation since 2013 and the government is estimated to invest US$ 5 billion into science and technology over the next five years, as announced by the chairman of the Science Advisory Council to the Prime Minister.

Increasing collaboration among market players is also expected to propel growth of the life science microscopy devices market over the forecast period. For instance, on June 29, 2016, Nikon Corporation partnered with the Biotechnology Innovation Organization (BIO) under the BIO Business Solutions offerings. In this program, Nikon offered a wide selection of research instrumentation and digital imaging solutions for microscopy for direct purchase to BIO Members. Furthermore, in March 2017, Leica and Abberior Instruments licensed agreement regarding Leica’s light microscopy product portfolio to offer innovative, state-of-the-art technologies for life science/biomedical research, biotechnology, and medicine.

On the basis of region, the global life science microscopy devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is projected to witness significant growth in the life science microscopy devices market due to the presence of major pharmaceutical organizations such as Pfizer and Novartis, which are engaged in research and development of innovative therapies using advanced imaging techniques. Japan is also estimated to witness significant growth in the Asia Pacific life science microscopy devices market, as Japan has been the major revenue generating source for many players ( for Olympus Corporation and Nikon Corporation) and is expected to witness modest growth over the forecast period. For instance, in January 2018, Nikon Corporation entered into a business alliance with Advanced Cell Technology and Engineering Ltd. to establish a clinical-use master cell bank, which can be utilized for regenerative medicine products derived from dental pulp cells by using its optical and image-analysis technologies in Japan.

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Key players operating in the global life science microscopy devices market include Olympus Corporation, Thermo fisher Scientific, Inc., Nikon Corporation, Carl Zeiss AG, Keyence Corporation, JEOL Ltd., Bruker, Hitachi High-Technologies Corporation, Leica Microsystems, and F. Hoffman-La Roche Ltd.

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This release was published on openPR.