Market growth is driven largely by factors such as favorable funding scenario for R&D in microscopy, technological advancements in microscopes, and rising focus on nanotechnology and regenerative medicine. However, the high cost of the advanced microscopes is expected to restrain the growth of this market during the forecast period.
According to market research industry, "Microscopy Market by Product (Microscopes, Software, Accessories), Type (Optical Microscope (Stereo, Digital), Electron Microscope (SEM, TEM), AFM, STM), Application (Semiconductor, Life science), End User (Industrial, Research) - Global Forecast to 2026", is projected to reach USD 8.9 billion in 2026 from USD 6.5 billion in 2020, at CAGR of 5.6% during the forecast period.
The impact of the coronavirus pandemic and the nationwide lockdowns it triggered is visible in various industries, including the microscopy market. The overall growth of various sectors has been heavily impacted, specifically in countries with a high incidence rate of COVID-19, such as India, China, the US, and several European countries (Russia, Italy, and Spain, among others).
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While industries such as oil and petroleum, aeronautics, and mining are experiencing a steep fall in revenues, the healthcare, biotechnology, and pharmaceutical industries are optimizing this situation to serve a maximum number of patients and healthcare professionals. The COVID-19 outbreak has disrupted business and economic activities globally. However, it is expected to have a positive impact on the microscopy market for the healthcare industry.
Technological advancements in microscopy include digitization, live-cell imaging, super-resolution, and high-throughput methods. These advancements serve to reduce product and test costs.
Recent developments in microscopes include expansion microscopes, scanning helium microscopes (SHeM), multi-view microscopes, and integrated microscopy workflows. Digital microscopy is the latest trend in the microscopy market. Digital imaging offers enhanced image resolution with greater precision, leading to fewer distorted images and allowing for better viewing of samples. The development of whole-slide scanning systems is a major factor that has accelerated the adoption of digital microscopy. These systems offer deep visualization of specimens with 2D and 3D images used in R&D, forensics, quality control, as well as failure analysis. Market players offer various digital microscopy products such as ShuttlePix P-400R (Nikon), Leica DVM6 (Danaher), and Celldiscoverer 7 (Carl Zeiss).