The Europe optical microscopes market is expected to reach US$ 722.83 Mn in 2027 from US$ 487.72 Mn in 2018. The optical microscope market is anticipated to grow at a growth rate of 4.8% from 2019-2027.
The growth of the optical microscopes market during the forecast period is primarily attributed to factors like technological advancements in optical microscopes and collaborations, mergers and acquisitions in optical microscopes market players. On the other hand, growing healthcare expenditure in European countries is expected to have a positive effect on the growth of the Europe optical microscopes market in the coming years.
The healthcare industry has been observing rapid transformations during the previous years. Various technological improvements have been witnessed in the segments such as, fluorescence microscopy, laser microscopes and use of 3D visualization for surgeries. The increase in prevalence of chronic illnesses and pediatric care, ageing population, are the primary factors fueling the growth of healthcare segment.
Germany has a history of manufacturing high quality medical equipment, diagnostic imaging technologies, precision medical instruments and optical technologies. There has been an increase in the healthcare expenditure in the European countries during the previous years. As per Eurostat in 2016, healthcare expenditure in Germany was EUR 352 billion. Medical technologies is the priority of Healthcare/Life Sciences (HCT) industry. Whereas the healthcare expenditure of France was recorded as the second highest which was around EUR 257 billion, followed by the United Kingdom EUR 234 billion.
The above mentioned factors are expected to offer broad growth opportunities in the healthcare industry and this is expected to cause the demand for optical microscopes.
Europe optical microscopes market is segmented by product and end user. Based on product the optical microscope market is categorized as, inverted microscope, digital microscopes, stereo microscope, and accessories. On the basis of end user, the market is categorized as, hospitals & clinics, academics & research institute market, diagnostic laboratories market, pharmaceuticals & biotechnology companies.
Some of the major primary and secondary sources for compound management included in the report are World Health Organization (WHO), UK Bio-Industry Association, Food and Drug Administration (FDA), and Industrial Biotechnology Leadership Forum (IBLF) among others.