Market Trends of Optical Microscopes Industry
This section covers the major market trends shaping the Optical Microscopes Market according to our research experts:
Inverted Microscopes Segment is Expected to Hold the Largest Market Share in the Optical Microscopes Market
Inverted Microscopes are expected to hold a significant share in the growth of the market during the forecast period owing to the increasing usage at the end-user industries. Inverted microscopes are used to view the sample from underneath. This is useful during the examination of liquid cell cultures. The demand from the pathological sector and the rise in advanced technology options are expected to positively aid in segment development.
Also, inverted microscopy remains a very useful technique for the live imaging of cells. In inverted microscopes, the living cells are observed through the bottom of a cell culture vessel. There are various advantages while using inverted microscopes that are responsible for their demand.
Additionally, many research studies are being conducted in the field that is expected to boost innovation in the segment. For instance, an article published in Elsevier in July 2020. The researchers developed a low-cost inverted optical microscope prototype with simple functioning, whose parts were manufactured using 3D printing techniques. Innovations such as these are expected to boost market growth.
Many companies are undertaking a variety of strategic initiatives like product launches, partnerships, collaborations, mergers, and acquisitions to boost their market share. For instance, in November 2021 Nikon instruments increased the AX R M multiphoton confocal microscope, a type of inverted microscopy that can acquire high-resolution, large field-of-view images, within living organisms at high speed.
Thus, the above-mentioned factors are expected to drive the growth of the studied segment during the forecast period.
North America is Expected to Hold Significant Share in the Market During the Forecast Period
North America is expected to dominate the overall optical microscopes market throughout the forecast period. This is due to factors such as strong research and development activities conducted in the region. In the North American region, the United States holds the largest market share due to the factors such as large demand from the country's life sciences and material sciences application market. Furthermore, high GDP and growing investment are likely to have a positive impact on the growth of the North American optical microscopes market in the coming years.
For instance, as per the June 2021 report National Institute of Health, the total budget of funding for various Research, Condition, and Disease Categories (RCDC) was USD 2.9 billion in 2020, and it is expected to increase in 2021 at an estimated value of USD 3.2 billion and USD 3.3 billion in 2022.
Also, in November 2021, Chan Zuckerberg Initiative (CZI) announced nearly USD 5 million in funding to advance bioimaging technologies, increase access to these tools, and build capacity for biomedical researchers in North Americal Countries. This includes increasing collaboration between biologists and technology experts, improving microscopy tools and expanding access to these tools, and supporting increased training and community building, thereby, helping in driving the growth of the studied market.
Moreover, in the life science segment, the use of optical microscopy devices in the identification and diagnosis of microorganisms and viruses causing diseases in humans, animals, or plants is increasing, which will complement the growth of the market. Aid from government agencies for research and development activities further accelerates the growth of the market. For instance, in August 2020, The National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health, awarded 11 grants with a total first-year value of approximately USD 17 million to establish the Centers for Research in Emerging Infectious Diseases (CREID). This will involve multidisciplinary investigations on viruses and other disease-causing microorganisms. NIAID also intends to provide approximately USD 82 million over five years to support the network.
Thus, owing to the growing R&D in the field of optical microscopy in the United States, supported by the regulatory authority, and the continuous launch of new technologically advanced techniques, the optical microscopes market is expected to witness lucrative growth over the forecast period.
