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(Medical-NewsWire.com, March 30, 2020 ) Market Overview
The Life Science Microscopy Device Market is projected to grow at a CAGR of 7.9% during the forecast period 2019-2026.
Microscopes produce enlarged images of small objects, allowing the observer an exceedingly close view of minute structures at a scale convenient for examination and analysis.
Life sciences include the study of cell biology, genetics, molecular biology, botany, microbiology, zoology, evolution, ecology, and physiology.
The use of microscopes is significantly increasing in sectors such as science and biology. There are different types of microscopes, and the four most popular types are compound, stereo, digital and the pocket or handheld microscopes.
Rapid development at all levels of life science microscopy experiments such as improvements in sample labelling, contrast, illumination, resolution, signal detection and data processing have all occurred and there is every reason to expect that these advances will simply continue in the forecast period.
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Market Dynamics
Increasing usage of life science microscopes during research studies in biology and sciences are primarily driving the global life science microscopy market in recent years and expected to increase over the forecast period. For instance, research papers listed as cell biology in the Web of Science Core Collection increased from 5.7% to 26.4% between 2007 and 2016.
Technological advancements in life science microscopy devices with faster performance, higher efficiency and digital technology are expected to boost product demand over the forecast period. For instance, the new technology-based TCS SP8 FALCON, made by Leica Microsystems will facilitate fast fluorescence lifetime imaging and fluorescence correlation spectroscopy, allowing scientists to investigate the environment of proteins in specific areas of a cell.
The increasing research and development activities in small laboratories and academic institutions, increasing government funding in medical and biological studies are the other factors driving the global microscopy device market over the forecast period.
However, maintenance of microscopes and lack of skilled labour to operate are hampering the market growth.
Market Segmentation
Based on the application, the global life science microscopy device market is divided into biology, botany, zoology, microbiology, physiology, biochemistry and others. Biology segment held the highest share in 2018 and expected to remain the same over the forecast period. According to Royal Statistical Studies in 2018, in Europe, EU funding to UK science came to approximately 335.63 million $ and was spread between institutions, individuals and commitment was made in autumn 2016 to underwrite this by adding 535.6 million$ to research investment before 2020-2021.
Global life science microscopy device market is classified into laboratories, clinical research organizations and educational institutes based on the end user.
Clinical research organizations account for the highest share in global life science microscopy device market due increase in usage of microscopes in drug discovery process. An influx of new microscopic imaging methods and tools, including advanced imaging instruments, are considerably enhancing the application of microscopes in the drug discovery process. Recently in 2019, a team from Purdue University in the United States developed a microscope based on concepts of phase-contrast microscopy, which involves using optical devices to view molecules, membranes and thereby giving a better idea of how safely and effectively a medication will perform in the body.
Based on product type life science microscopes are categorized into the compound microscopes, electron microscopes, digital microscopes and others. Electron microscopes have the highest market share as they have the ability to produce powerful magnification and offers a higher resolution when compared to other microscopes.
Geographical Analysis
The global life science microscopy market is segmented into North America, Europe, The Asia Pacific, South America and the rest of the world.
North America is dominating the global microscopy device market, due to the technological advancements, and increasing investments in drug discovery. According to Deep Knowledge Analytics in 2019, the United States accounts for 63 % of global investments in drug discovery.
The Asia pacific life science microscopy device market is anticipated to grow at the fastest CAGR during the forecast period due to the presence of major companies and a thriving number of local manufacturers in emerging countries such as China, India and Japan.
Europe is also registering high CAGR due to huge investments in research and development and leap towards technology-based research.
Competitive Analysis
The global life science microscopy devices market is witnessing rapid growth. The industry has strong players such as Olympus Corporation, Hitachi High-Technologies Corporation, Carl Zeiss Microscopy GmbH, and Nikon Corporation. These players are constantly offering technologically advanced microscopes by increasing their research and development activities. Microscopy industry includes manufacturers such as PicoQuant, Bruker, Shanghai Optical Instrument, Novel Optics, Motic and PTI.
On January 29, 2019 Bruker launches new high-speed AFM system for Life Science microscopy applications.
On July 25, 2017, Hitachi High-Technologies Launches New Tabletop Microscope "TM4000" Series.
On February 09, 2017, Andor Launches iXon Life for Fluorescence Microscopy
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