Life Science Microscopy Devices Market to Cross US$2.0 bn by 2024

As per the estimations provided by the report, the demand in the global life science microscopy devices market will continue to increment at a strong CAGR of 6.5% during the forecast period of 2016 to 2024, reaching a valuation of US$2.0 bn by the end of 2024, significantly up from its evaluated worth of US$1.1 bn in 2015. In the near future, the report anticipates that the top four companies will enjoy their dominance via extensive geographical presence, brand value, diverse product portfolio, and financial might for research and development of next high value technology or product. Some of the other notable players in the global life science microscopy devices market identified by the TMR report are JOEL Ltd., Bruker Corporation, Hitachi High-Technologies Corporation, FEI Company, Cameca SAS, NT-MDT, and Leica Microsystems

A recent study by Transparency Market Research (TMR) has detected that the global market for life science microscopy devices is highly consolidated in nature, with top four companies accounting for 90% of the shares in 2016. While Olympus Corporation emerged as a global leader, the other three prominent players detected by the TMR report in the global life science microscopy were Leica Microsystems, Nikon Corporation, and Carl Zeiss Microscopy GmBH. The TMR report also suggests that despite this consolidated competitive landscape, fierce competition is coming from regional vendors, particularly in Asia Pacific, wherein manufacturers have to reduce their product prices in order to maintain their stronghold.

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Based on device type, the TMR report segments the global market for life science microscopy devices into electron microscopes, optical microscopes, and scanning probe microscopes. Electron microscopes segment has been sub-segmented into invested, stereo, phase contrast, fluorescence, near field scanning, and confocal scanning. While electron microscopes segment is categorized into transmission electron and scanning electron, the scanning probe microscopes segment has been bifurcated into atomic force and scanning tunneling. Among these, the optical microscopes segment served the maximum demand at 51.9% of the overall market in 2015, and is projected to remain most profitable throughout the forecast period, gaining traction from the growing demand for several types of optical microscopes such as fluorescence and inverted microscopes.

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North America Remains Highly Profitable Region

Region-wise, the report gauges the potential of life science microscope devices in North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa, and rates North America are most lucrative region, evaluating its demand at 47.3% of the overall requirement in 2015, and anticipates it to remain most successful regional market for these devices. This high demand from North America is a reflection of the presence of a large number of leading companies in the country of the U.S. and favorable government policies for the research and developed activities pertaining to biotechnology and drug discovery. The report also expects Asia Pacific to emerge as a bankable regional market with several global companies outsourcing their R&D to countries such as Japan, India, and China.

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Flourishing CRO Market Driving Demand

The global life science microscopy devices market is gaining traction from a number of factors, such as the prosperity of the contract research organization (CRO) market, high applications of microscopes in the field of life sciences, fast growing life science industry, development of new integrated microscopes, and technological advances in the products and technology pertaining to the microscopy segment. On the other hand, the report expected premium pricing of high end microscopes and lower budgets allocation to the life sciences field is hindering the market from attaining its true potential. Nevertheless, the vendors of the global life science microscopy devices market will continue to gain new opportunities from the advent of localization microscopy, which is a new dimension to fluorescence microcopy technique.

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About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.