Microscopy Market Thriving with Advances in Technology
According to industry estimates, the global market for microscopes and accessories is literally thriving. Around 4 years back it was pegged at $1.65 billion (1.34 billion) and is expected to touch $2.77 billion in the year 2009, with a healthy average annual growth rate(AAR) of around 11%.
According to industry estimates, the global market for microscopes and accessories is literally thriving. Around 4 years back it was pegged at $1.65 billion (€1.34 billion) and is expected to touch $2.77 billion in the year 2009, with a healthy average annual growth rate(AAR) of around 11%. Leading the pack is the charged particle microscopes forming the largest segment of the market, with a share of 40 per cent and above. Charged particle microscopes are also one the fastest-growing product in the microscopy sector with an AAGR of 13 per cent.
Optical microscopes though forming the second largest segment, but have registered the lowest growth rate, thus fueling a concern that it will lose significantly its market share over the coming five years. Scanning probe microscopes in the year 2003 was not able to garner more than 10 per cent of the market share but is projected to have the highest AAGR of around 20 per cent through 2009.
Fuelling the boost in the microscopy business is the recent technological breakthroughs. Advancements in the form of large-scale digitalisation and image reconstruction and restoration is bearing a positive impact on the market. Pharmaceutical industries already one of the largest consumer of laboratory equipment is leading in the demand for more sophisticated microscopic instrumentation. The microscope market can be effectively classified into the clinical and research sub-markets, with . the clinical market being the biggest and most profitable. Let us see some of the latest technological trends taking place in the microscopy business.
Technological Trends in the Microscopy Business
- Computerisation of Microscopic Procedures: With this step the manufacturers are now able to produce lenses that has minimal distortion, higher resolution, and better colour rendition,thus leading to a greater precision in imaging quality.
- Ready-to-Use Modular Systems: Most of the microscope manufacturers are offering the option of ready-to-use modular systems. Here the researchers have the flexibility to pick and choose the components they need and get easy modifications done.
- Integration of Systems: Manufacturers are now beginning to understand the market advantages of integration. That is the why they are now offering total systems designed specifically for a particular application. To give an example, non-destructive testing of materials or live-cell imaging when merged with binding or chemical analysis are lapped up by researchers due to the cost-effectiveness of the combination.
- Custom-Assembled Systems: Custom-assembled systems, which are designed to user specifications, hold an appeal to many research scientists. So offering custom assembled systems facilitate end users to incorporate existing workflows or equipment.
Future Prediction for the Microscopy Market
The future seems bright for the microscopy market. It is expected to grow uniformly, especially after increasing automation process and the consequent easy to handle equipment. However the R&D process of microscopy equipment can be hindered due to tighter research budgets owing to less budgetary allocation by the government along with the high cost of instruments. For fueling the growth in the microscope sector, development in the electron and confocal microscopy, laser scanning cytometry coupled with the progress in the quantum dots arena is expected to play a major role. And last but not the least increased funding of the government on nanotechnology research, of which microscopy instrumentation is an integral component is also the harbinger of the growth for this market.