San Francisco, California, Oct. 27, 2014 (GLOBE NEWSWIRE) -- Global microscopes market is expected to reach USD 9.54 billion by 2020, according to a new study by Grand View Research, Inc. Growing government and private initiatives aimed at funding R&D catering to emerging application areas such as nanotechnology and semiconductors are expected to drive microscopes market demand. Increasing usage rates of high resolution microscopes in manufacturing miniature transistor chips and quantum dots and presence of untapped opportunities in the emerging Asia Pacific and Latin American markets are expected to serve this market as future growth opportunities.
Life sciences applications dominated the market in 2013, accounting for over 30.0% of total demand. Growing use of microscopes for drug discovery and development, tissue diagnosis and to understand microstructure of tissues and cells are some factors driving microscopes market demand for these applications.
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Further key findings from the study suggest:
- Optical microscopes accounted for over 40% of the total microscopes market in 2013, majorly owing to their high penetration rates. In addition, these microscopes are relatively cost effective and therefore, hold higher usage rates in small and medium size laboratories with limited R&D budgets.
- Electron microscopes are expected to be the most attractive product segment for this market. Growing demand for scanning electron microscopes in application areas such as life sciences, material sciences and nanotechnology owing to high resolution images rendered by these devices is expected to drive electron microscopes market growth over the forecast period.
- Nanotechnology is the fastest growing application segment for the microscopes market. Key drivers of this segment include growing demand for high resolution microscopes in nanotechnology based R&D and the extensive presence of public and private initiatives aimed at funding the development of miniaturized devices and unique nanostructures.
- Asia Pacific led the market in terms of revenue in 2013. Rapid industrialization rate and extensive public funding programs in the emerging markets of China and India is expected to drive market growth over the forecast period. Rapidly growing demand for semiconductors and increasing number of manufacturing units in these countries is also expected to boost market demand over the next six years.
- Some key players of the microscopes market include Leica Microsystems, Hitachi High Technologies Corporation, FEI Company, Carl Zeiss, Olympus Corporation, CAMECA SAS, Danish Micro Engineering, Bruker Corporation and NT-MDT Company
- New product development via segment specific R&D spending and strategic collaborations with universities and research laboratories are some key sustainability strategies adopted by industry participants.
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For the purpose of this study, Grand View Research has segmented the global microscopes market on the basis of product, application and region:
Microscopes Product Outlook (Revenue, USD Million, 2012 - 2020)
• Optical Microscopes
• Inverted Microscopes
• Phase Contrast Microscopes
• Fluorescence Microscopes
• Confocal Scanning Microscopes
• Near Field Scanning Microscopes
• Electron Microscopes
• Transmission Microscopes
• Scanning Electron Microscopes
• Scanning Probe Microscopes
Microscopes Application Outlook (Revenue, USD Million, 2012 - 2020)
• Material Sciences
• Life Sciences
Microscopes Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
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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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For more information, visit http://www.grandviewresearch.com/
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Source:Grand View Research