Microscope Market to Reach $1.64 Billion, Globally, By 2027 at 3.2% CAGR, Says Allied Market Research

PORTLAND, Ore., Aug. 11, 2020 /PRNewswire/ -- Allied Market Research recently published a report, "Microscope Market By Type (Scanning Electron Microscope, Transmission Electron Microscope, Focused Ion Beam, and Others) and End Use (Semiconductor & Microelectronics, Healthcare, General Manufacturing, Food Processing, Construction, and Other): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global microscope industry accounted for $1.39 billion in 2019, and is projected to reach $1.64 billion by 2027, growing at a CAGR of 3.2% from 2020 to 2027.

Major Determinants of the Market Growth

Rise in demand for electron microscope in semiconductor and microelectronics, adoption of electron microscopy in the field of healthcare and life-science, and surge in demand for microscope due to advancement in electron microscope have boosted the growth of the global microscope market. However, high initial investment hampers the market growth. On the contrary, increased R&D activities in the automotive sector are expected to create lucrative opportunities for the market players in the coming years.

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COVID-19 Scenario

• The production and supply chain management has been disrupted during the lockdown in various countries. Furthermore, the industry witnessed a shortage of raw materials which further impacted production of microscopes.
• The demand for microscope from sectors including semiconductor & microelectronics, general manufacturing, food processing, and construction has been decreased, as activities in these sectors have been slow down, during lockdown. 

The Scanning Electron Microscope Segment Dominated the Market

By type, the scanning electron microscope segment held the largest share in 2019, accounting for more than half of the global microscope market and is anticipated to rule throughout 2027. Furthermore, the same segment is expected to register the highest CAGR of 3.1% during the forecast period. This is attributed to varied application of electron microscope in healthcare, semiconductor, and construction industries.

The Healthcare Segment to Manifest the Highest CAGR through 2027

By end use, the healthcare segment is expected to register the highest CAGR of 3.6% during the study period. This is due to rise in number of labs for increased R&D activities, which results in increased demand for microscope. However, the semiconductor and microelectronics segment held the largest share in 2019, contributing to nearly two-fifths of the global microscope market, owing to rise in demand for electron microscopes in the microelectronics industry.

North America to Witness Highest Growth

By region, the market across North America held the lion's share in 2019, accounting for nearly two-fifths of the global microscope market. This is owing to the fact that industries in this province find various application for electron microscope such as precision analysis, fault detection, and molecular imaging. However, the market across Asia-Pacific is expected to register the highest CAGR of 3.6% during the forecast period. The industries in Asia-pacific require the information of surface molecular reactions, testing & analysis, nano-structuring, and microelectronic component development, which drive the market growth.

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Major Market Players

• JEOL LTD.
• Horiba Ltd.
• Olympus Corporation
• Nikon
• Leica Microsystems
• Angstrom Advanced INC
• Hitachi High Technologies
• TESCAN GMBH
• Thermo Fisher Scientific
• Carl ZEISS AG

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SOURCE Allied Market Research