The top three players leading the global automated microscopy market are Olympus Corporation, Nikon Corporation, and Leica Microsystems. Collectively these companies held a share or 75% in the overall market in 2015. The oligopolistic market is likely to witness tremendous product innovation through result-oriented research and development activities and mergers and acquisitions. Several players are also expected to focus on expanding their business to emerging economies as the spending capacities in these nations is on the rise.
The research report states that the global automated microscopy market stood at US$3.86 bn in 2015 and is expected to climb to a valuation of US$8.05 bn by the end of 2024. Between the forecast years of 2016 and 2024, the global market is projected to surge at a CAGR of 8.5% due to rapid technological advancements.
automated microscopy market
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Asia Pacific Emerges as Leading Region as Investments in Research and Development Increase
In terms of application, the global market is segmented into medical diagnostics, nanotechnology, material science, life science, and semiconductors. Of these, the flourishing life sciences industry is expected to make a generous contribution to the global market in the coming years. Despite a minor slump, the life sciences segment is projected to acquire a share of 27.9% in the global market by the end of 2024.
In terms of geography, the global automated microscopy market is segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Analysts anticipate that the Asia Pacific automated microscopy market will lead the pack between 2016 and 2024. The growing investments in research and development, developing healthcare infrastructure, and low labor cost are some of the factors that are likely to contribute to the emergence of this regional market. The report states that Asia Pacific automated microscopy market will acquire a share of 38.1% by the end of 2024.
Semiconductor Industry to Provide Significant Scope for Growth to Global Market
The increasing investments in nanotechnology have boosted the demand for advanced and high-resolution microscopes as they crucial for studying materials at molecular, macromolecular, and atomic level. The widening applications of material sciences, life sciences, and semiconductor are all expected to augment the demand for automated microscopes in the coming years. The increasing importance of research and development activities and usage of advanced microscopes by the precision manufacturing industries are also expected to boost the global market. The emergence of the semiconductor industry in several developing nations is also projected to benefit the global market in the coming years.
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Instrumentation Complexities to Hamper Market Growth
The global market is likely to be hampered by the instrumentation complexities that have to be addressed before using automated microscopes. If the special and complex sample preparation techniques are not met with, samples get structurally altered when viewed through microscopes. The market is also likely to be restrained by the premium pricing and operating cost of advanced microscopy.