According to a recent report from Technavio, the global microscopy device market will reach over USD 9 billion by 2020, growing at a CAGR of around 7% during the forecast period starting 2015.
The report looks at the market for different types of microscopes such as optical, scanning probe and electron, and found that factors such as the development of nanotechnology and favorable government funding are driving its growth. This highly competitive market is dominated by the major vendors such as Leica Microsystems, JEOL, Olympus, Zeiss, and WITec.
Fuelled by factors such as increasing demand for digital devices in the fields of biology, medicines and life sciences, optical microscopes dominate the device market and this segment is expected to reach USD 3 billion by the end of 2019. The optical microscope market is further classified as inverted, stereo, phase contrast, fluorescence, confocal, and near field scanning.
Based on application, the semiconductor segment of the market holds the highest share and is expected to grow at a rate of 7% during the forecast period. Factors that contribute to this segment’s highest market share include increasing R&D spending and high usage rates for drug discovery and developments. The growth of the electronic and renewable energy industries is expected to increase the sales of microscopy devices in semiconductors.
Microscopes have evolved tremendously from their primary use as simple visible light refracting lenses. While more sophisticated microscopes use electrons, x-rays, and infrared rays to detect even smaller and smaller structures, scanning electron microscopes help identify viruses that are far smaller than any cell. New products with greater functionalities are entering the fray. A recent study published by SPIE, the International Society for Optics and Photonics, reports that researchers at the University of Arizona (UA) have developed a prototype of a new microscope technology called augmented microscopy. It could help surgeons work with a greater degree of accuracy in diagnosing cancer or performing brain surgery or other procedures.