The Optical Microscopes market is anticipated to grow with a CAGR of 5.2%, during the forecast period. The major factors attributing to the growth of the optical microscopes market include technological advancements in the optical microscopes, and increasing funding for research and development in cell biology and biotechnology. Optical microscopes are used in many research areas comprising microbiology, microelectronics, nanophysics, biotechnology, laboratories in educational institutes, and pharmaceutical research. They are also used to view biological samples for medical diagnosis in diagnostic centers. The global optical microscope market is expected to expand at a substantial rate driven by an upsurge in demand from innovation science. However, limitations of optical microscope compared to the electron microscope and low-cost products by small scale manufacturers are the reasons expected to restrain the optical microscopes market for the forecasted period.
Key Market Trends
Academic & Research Institutes Segment is Expected to Hold the Largest Market Share in the Optical Microscopes Market
Optical microscopy is commonly used in many research areas including microbiology, microelectronics, nanophysics, biotechnology, and pharmaceutical research. It can also be useful to view biological samples for medical diagnoses, known as histopathology. Technological developments have allowed digital images to be taken with CMOS and charge-couple device cameras for optical microscopes. As a result, the image can be projected onto a computer screen in real-time to inspect a sample with these digital microscopes.
Recent advancements in the field of nanotechnology and biotechnology are propelling the growth of this segment. Furthermore, the funding received by the academic and research institutes for the research programs play a crucial role in market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall optical microscopes market, throughout the forecast period. This is due to factors such as strong research and development activities conducted in the region. In the North America region, the United States holds the largest market share due to the factors such as large demand from the country’s life sciences and material sciences application market. Furthermore high GDP and growing investment are likely to have a positive impact on the growth of the North America optical microscopes market in the coming years.
The Optical Microscopes market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Carl Zeiss AG, Leica Microsystems, Meiji Techno, Nikon Instruments Inc., Olympus Corporation, Labomed, Inc., Oxford Instruments Asylum Research, Inc., Bruker, and CAMECA.
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