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Microscope Market Size Worth $15.1 Billion by 2026
April 25, 2019 | Grand View Research, Inc.Estimated reading time: 1 minute
The global microscope market size is expected to reach %15.1 billion by 2026 registering a CAGR of 7.9%, according to a new study by Grand View Research, Inc. Growing demand for advanced and high resolution microscopes for conducting R&D in the fields, such as life sciences and nanotechnology, is expected to drive the market over the forecast period. Emergence of new application areas, such as quantum dots and miniature transistor chips, will further boost the market growth.
Quantum dots technology is currently in a nascent stage and is expected to cater to multiple application areas including in transistors, diode lasers, quantum computing, biological imaging, solid-state lighting, electroluminescent displays, and photo-voltaic cells. Optical devices led the market in 2018, owing to their large application base. However, due to high adoption of advanced microscopes, scanning probe and electron microscopes are expected to gain share over the coming years.
Scanning probe devices is expected to be the fastest-growing product segment from 2019 to 2026. Features, such as non-dependence on wavelength of the source light, resolving atoms, and generating better 3D maps of surfaces, are some of the factors expected to drive the demand of these products. North America led the global market, in terms of revenue, in 2018 and is likely to reach $4.7 billion by 2026.
Further key findings from the study suggest:
- Semiconductors and life sciences were the dominant application segments in the global microscope market
- However, nanotechnology is expected to be the fastest-growing application with a CAGR of 9.3% from 2019 to 2026
- Asia Pacific is expected to be the fastest-growing regional market with a CAGR of 9.1% from 2019 to 2026
- High demand for semiconductors and positive outlook on application markets are expected to be the key drivers responsible for the market growth in the region
- Key companies in the market include Olympus Corporation, Hitachi High-Technologies Corporation, Nikon Corporation, FEI Company, JEOL Ltd., Carl Zeiss, and Leica Microsystems
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