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Microscopy Device Market - Growth, Trends, and Forecasts (2020 - 2025)

Microscopy Device Market - Growth, Trends, and Forecasts (2020 - 2025)

  • September 2020
  • 121 pages
  • ID: 5974112
  • Format: PDF
  • Mordor Intelligence LLP

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The market for microscopy devices is being driven by factors such as a rising number of inventions in the field of microscopy, growing focus on nanotechnology and life science research.

Several studies have suggested that microscopy was seen performing better than the rapid diagnostics test (RDT) in the diagnosis of malaria in children under the age of five. It also suggested that microscopy, if available and possible should be done for all patients suspected of having malaria, even with negative RDT result, as it remains the gold standard for malaria diagnosis.

There has been an increasing number of patients using microscopic techniques, when compared to the other diagnostic tests as it is cost-effective and is consistently accurate. Hence, these increasing trends in the usage of microscopic diagnosis, along with its acceptance in the emerging regions are acting as major factors responsible for the growth of the market studied.

Key Market Trends
Electron Microscopy to Witness a Rapid Growth

The regional organization for the United States, CIASEM (the Inter American Committee of Societies for Electron Microscopy, or Comité Interamericano De Sociedades De Microscopía Electrónica) holds an inter American congress of microscopy, every two years, and also sponsors and organizes regional meetings and conferences, in order to spread knowledge and awareness regarding electron microscopy.

Recent times have observed many significant developments in the field of electron microscopy, across various countries. For instance, the Brazilian Center for Research in Energy and Materials (CNPEM) has become the first center in Latin America to install a Thermo scientific krios G3i Cryo transmission electron microscope (Cryo-TEM), in July 2018, bringing the power of this instrument to Latin American structural biology researches. This, in turn, is expected to help transform the medical and pharmaceutical industries.

There have been several successful cases of HBT (health biotechnology) investment, globally. For example, Argentina’s domestic industry synthesized biological health products by applying recombinant DNA technology. These are likely to involve electron microscopy as an integral part of research during the forecast period. The electron microscopy market is dominated by companies, such as FEI (Thermofisher Scientific), Hitachi, Carl Zeiss, and JEOL Ltd.

North America to Dominate the Market

As per the report of Centers for Medicare and Medicaid Services (CMS), the healthcare spending in the United States has been increased by 3.9% in 2017, and around 18% of the total GDP is spent on healthcare in the country. In the total healthcare spending, 32% is spent on the hospitals care and CMS has reported that this spending is increasing, as the hospitals are the major components of the healthcare system.

The United States has a large amount of geriatric population and high incidence rate of chronic disorders, such as cancer and cardiovascular disorders. The International Journal of Environmental Research and Public Health has reported that 7 out of 10 deaths in the United States are caused by chronic diseases, which accounts for around 1.7 million people each year.

With increasing geriatric population and chronic diseases, the diagnosis rate has also increased. This, in turn, has helped in the growth of the usage of the microscopes in the country. Additionally, government support for the research and development of the nanotechnology has further influenced the growth of the market studied.

Competitive Landscape
The Microscopy Devices market includes global players such as Bausch Health, Bruker Corporation, Carl Zeiss, Thermofisher Scientific, Olympus Corporation, etc. With the rising focus on nanotechnology and the significance of microscopy devices in disease diagnosis, certain small to mid-sized companies are also coming in the market with product innovation. It is expected that such smaller companies will hold a substantial share of the market studied in the coming future.

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