Press release
Fluorescence Microscopy Market 2024 - By Size, Competitive Landscape, Upcoming Trends And Outlook By 2033
Fluorescence Microscopy Market
According to The Business Research Company's, The fluorescence microscopy market size has grown rapidly in recent years. It will grow from $10.33 billion in 2023 to $11.52 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to biomedical research demand, government funding and research grants, expanded clinical and diagnostic applications, adoption in clinical and diagnostic applications.
The fluorescence microscopy market size is expected to see rapid growth in the next few years. It will grow to $17.37 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to advancements in super-resolution imaging, expansion of multiplexing capabilities, integration with single-cell analysis, advances in labeling technologies. Major trends in the forecast period include super-resolution imaging, multiplexed imaging, live-cell and dynamic imaging, correlative and integrated imaging.
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Market Drivers and Trends:
The rising drug discovery development is expected to propel the fluorescence microscopy market going forward. Drug discovery is identifying and developing new pharmaceutical compounds to be used as medications. It involves multiple stages, from the initial idea or concept to a new drug's final approval and market launch. It arises because of technological advances, unmet medical needs, investment, and emerging infectious diseases. Fluorescence microscopy is a powerful tool used in drug discovery to facilitate the visualization, characterization, and evaluation of drug candidates and provide mechanistic insights into disease biology and therapeutic interventions. For instance, according to reports published by IQVIA Inc., a US-based pharmaceutical company, the projected total expenditure on pharmaceuticals in the US is anticipated to range between $380 and $400 billion by the year 2025, up from $359 billion in 2020, reflecting a compound annual growth rate of 0-3%. Therefore, rising drug discovery development is driving the growth of the fluorescence microscopy market.
Major companies operating in the fluorescence microscopy market focus on developing innovative advancements, such as ECLIPSE Ji, to stay competitive and meet the growing demand for advanced imaging solutions. ECLIPSE Ji includes various components arranged in an inverted configuration compared to traditional microscopes, allowing for unique applications such as observing cells growing on the bottom of dishes in cell culture. For instance, in September 2023, Nikon Corporation, a Japan-based optics and photographic equipment manufacturer, launched ECLIPSE Ji, a digital inverted microscope that utilizes artificial intelligence (AI) to automate the acquisition and analysis of cellular images. This aims to streamline research workflows, particularly in cancer and nerve disease research. Additionally, it features an eyepiece less design, AI-powered automation, image analysis, high-quality optics, and expandability. It empowers researchers by streamlining workflows, improving accessibility, fostering collaboration, and enhancing the quality and consistency of research data.
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Major Key Players of the Market:
Thermo Fisher Scientific, GE HealthCare Technologies Inc., Agilent Technologies Inc., Keyence Corporation, Olympus Corporation, Roper Technologies Inc., Hitachi High-Tech Corporation, Nikon Corporation, PerkinElmer Inc., Bio-Rad Laboratories Inc., Bruker Corporation, Carl Zeiss AG, Excelitas Technologies Corp., Hamamatsu Photonics K.K., Horiba Scientific, Delta Vision Corporation, Leica Microsystems GmbH, Thorlabs Inc., Gooch & Housego Plc, Molecular Devices, Spectra Services Inc., JEOL Ltd., Quorum Technologies Ltd., ZEISS Microscopy, Lumencor Inc
Fluorescence Microscopy Market 2024 Key Insights:
• The Fluorescence Microscopy Market is expected to grow to $17.37 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• Rising Drug Discovery Development Fueling Growth In Fluorescence Microscopy Market
• Nikon Corporation's ECLIPSE Ji - A Revolutionary Digital Inverted Microscope With AI Integration For Advanced Cellular Imaging
• North America was the largest region in the fluorescence microscopy market in 2023. The regions covered in the fluorescence microscopy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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