Albany, NY, April 2, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research the global microscopy devices market was valued at USD 5.75 billion in 2014 and is estimated to reach a market worth USD 9.69 billion in 2020 at a CAGR of 7.6% from 2014 to 2020.
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Microscopy devices are being used since the past three centuries. Discovery of microorganisms and the intricacies of an atom made humans more curious to understand the dynamics of the smaller worlds. This lead to the innovations in microscopy devices and thereby enriched us with the knowledge of the microscopic universe. From the simple hand-held magnifying lens, to the large Hadron Collider located in the Alps, created specifically to study the intricate details of the atomic substructures, microscopes have evolved in a great progression over the years. Devices have grown more complex and nowadays seldom use visible light in magnification of objects. Among them, the innovation of electron microscopy was a great boost to the microscopy segment. After exhaustive research and innovations in optical microscopy, focus on electron microscopy opened new frontiers.
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The microscopy devices market is broadly classified on the basis of product segments and application areas. Among various product segments, the optical microscopes market accounted to have the largest market share of 38.9% in 2013. This is probably because it is among the oldest segments of microscopy in sales. Besides optical, there are electron microscopes, scanning probe microscopes and other customized hybrids, arranged in decreasing order of their shares in global microscopes revenues. Among various application areas, the life sciences industry segment accounted for the largest market share in 2013 and growing at a CAGR of 6.4% during the forecast period of 2014 to 2020. Semiconductors and material sciences segments follow the market for life sciences segment. However, the market for nanotechnology segment is expected to display an impressive CAGR of 12.4% during the forecast period.
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Geographically, Asia-Pacific region accounted for the largest share of global microscopy devices market in 2013, followed by North America. The Asian-Pacific region is expected to represent the highest growth rate of 9.1% during the forecast period. The major contributing factor for such dominance of the Asia-Pacific region is growing investment in research and development in these regions by the respective governments of Asia. China for example is at present the world's second largest investor in research and development according to World Bank data. This along with presence of numerous schools, universities and research institutions would translate to greater growth in the coming years for the Asia-Pacific markets.
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The major players of this market include Leica Microsystems, Olympus Corporation, JEOL Limited, FEI Company, Danish Micro Engineering A/S, Hitachi High-Technology Corporation, Cameca SAS, Bruker Corporation, Carl Zeiss AG, NT-MDT and Nikon Corporation to name a few.
The global Microscopy devices market is segmented as below:
Global Microscopy Devices Market, by Product
- Optical Microscopes
- Inverted Microscopes
- Stereo Microscopes
- Phase contrast Microscopes
- Fluorescence Microscopes
- Confocal Scanning Microscopes
- Near Field Scanning Microscopes
- Transmission Electron Microscopes (TEM)
- Scanning Electron Microscopes (SEM)
Scanning Probe Microscopes
- Atomic Force Microscope (AFM)
- Scanning Tunneling Microscopes (STM)
Global Microscope Devices Market, by Application
- Life Sciences
- Material Sciences
Global Microscopy Devices Market, by Geography
- North America
- Rest of the World (RoW)
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Source:Transparency Market Research