Biological Microscope Market is Predicted to Grow at a CAGR of 5.0% by 2030 - Report by Market Research Future (MRFR)
Rise in Funding in Nanotechnology Research to Boost Global Biological Microscope Market Growth
New York, US, Dec. 07, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Biological Microscope Market: Information by Industry/Application and Region—Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 1,417.85 million by the end of 2020. The reports further predict the market to flourish at a robust CAGR of over 5.0% during the assessment timeframe.
Biological Microscope Market Key Players
Eminent players profiled in the biological microscope market report include-
Nikon Corporation
Olympus Corporation
Carl Zeiss AG
National Optical & Scientific Instruments, Inc.
Labomed Inc.
Meiji Techno
Leica Microsystems
Chongqing Scope Instrument Co, Ltd
Novel Optical
Phenix Optical Co Ltd.
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Biological Microscope Market Report Scope:
Report Metric | Details |
Biological Microscope Market Valued in 2020 | USD 1,417.85 million |
Biological Microscope Market Growth Rate | CAGR of 5.0% from 2022 to 2030 |
Base Year | 2021 |
Study Period | 2022-2030 |
Key Market Opportunities | Continuous Innovation In Biological Microscopes |
Key Market Drivers | Rising Prevalence Of Cancer |
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Biological Microscope Market Drivers
Rise in Funding in Nanotechnology Research to Boost Market Growth
Governments & private companies are investing more money in regenerative medicines and nanotechnology research, which is promoting market expansion.
Biological Microscope Market Opportunities
Increasing Prevalence of Cancer to offer Robust Opportunities
The market for biological microscopes is expanding due to the rising prevalence of various cancers among children and the elderly population, which has increased demand for diagnostic tools.
Restraints and Challenges
Advances in Imaging Equipment to act as Market Restraint
The advances in various imaging equipment that may lower the use of biological microscopes in diagnostic labs may act as market restraints in the forecast period.
Biological Microscope Market Segmentation
The global biological microscope market has been bifurcated based on industry or application.
By industry/application, the diagnostic laboratories will lead this market in the forecast period. It will grow at a 5.4% CAGR.
Biological Microscope Market COVID-19 Analysis
Regional spread of COVID-19 caused city closures, border restrictions, and disruptions in transportation. Due to the abrupt halting of operations to stop the spread of infection, there was a decline in the production and supply of all types of medical devices, including microscopes, in both international trade and manufacturing operations. Due to these limitations, the manufacturing sectors for microscopes have also experienced numerous problems, including supply chain disruptions, a lack of raw materials, and a labor shortage that has caused the production to stop. It is anticipated that the pandemic will advance study of infectious diseases, particularly COVID-19, and therapeutic agents to treat them. This is probably going to increase demand for research tools like microscopes, which will help microscope manufacturers make more money. Resolution and contrast have improved in ways that were previously unthinkable thanks to an increasingly sophisticated tool for varying the illumination of biological specimens. These developments, along with newly created computational tools, are enabling imaging in biological research to live up to its potential. Therefore, as biological microscope technology advances, market participants will have new opportunities.
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Biological Microscope Market Regional Analysis
North America to Head Biological Microscope Market
In 2021, North America grabbed the largest market share. The region is expected to experience significant growth as a result of accelerating R&D investment in biopharmaceutical & medical technology R&D firms, businesses providing health care services, and other sectors. According to the organization Research, America, the United States spent $194.2 billion on medical and health R&D in 2018. The nation is also making strides in the translational and clinical research necessary to translate ground-breaking basic research in fields like immunology and genetic sequencing into real, life-changing medical advancements, which will in turn lead to a rise in the demand for biological microscopes in this area. The United States has the largest market share among the nations of North America because of things like its sizeable R&D budgets, access to cutting-edge microscopy systems provided by industry leaders, intense and growing focus on medical research, and the country's abundance of important research institutions and universities. The growth of the Canadian biological microscope market in North America is being fuelled by the expanding presence of numerous research institutions and pharmaceutical and biopharmaceutical companies. The government's increased R&D funding will also play a significant role in driving up demand for biological microscopes in Mexico.
APAC to Have Admirable Growth in Biological Microscope Market
The fastest-growing region is Asia-Pacific. Due to significant lifestyle changes and steadily improving and more accessible health services, China is expected to have the highest CAGR in the next ten years, which will result in a sharp rise in the number of conditions that require medical attention. China, Japan, South Korea, India, Southeast Asia, and the rest of Asia-Pacific are the countries into which the region has been divided. During the forecast period, China is anticipated to dominate the Biological Microscope Market and post the highest CAGR. The region with the highest anticipated demand for biological microscopes is Asia-Pacific. Growing incomes and standards of living in developing nations like China and India are expected to increase demand for high-quality medical care, which will lead to the maturation of diagnostics markets in those nations, which will increase demand for biological microscopes. China will have the highest demand for biological microscopes among the Asia-Pacific nations due to a combination of an ageing population, improved diagnostics brought on by steadily improving and more easily accessible health services, and significant lifestyle changes. The demand for biological microscopes, which are used to examine cells, tissues, and other biological specimens, will increase in India as the diagnostic industry becomes a more appealing industry due to the expanding healthcare sector.
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Industry Updates
Zeiss announced the launch of a novel microsite in October 2022 to showcase the remarkable scientific advances being made by the featured nine researchers in 24 various fields of study. This virtual element is the at-home extension of their brand-new interactive touchscreen experience, which debuted recently at ZEISS tradeshows. The web interface of the microsite, which facilitates simple exploration of microscopic discoveries, will change as more research advances.
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