Optical microscopes have become pivotal tools for life sciences research and drug discovery. They allow for magnification and enhanced visualization of various cell structures, tissues and other microscopic components. Advancements in optics and imaging technologies have improved the resolution, depth of field and functionality of modern optical microscopes. With a growing focus on understanding human biology at the cellular and molecular level, use of microscopes in biomedical research applications such as histology, pathology, microbiology and neuroscience has increased substantially.
The global optical microscopes market is estimated to be valued at US$ 1,444.7 Mn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The key trends in optical microscopes market include:
Growing adoption of digital microscopy techniques: Integration of optical microscopes with digital cameras and advanced imaging software has improved workflow efficiency in laboratories. Digital microscopes allow live sharing of microscopic images over networks and storage of high resolution images electronically. They also enable multi-dimensional reconstructions, fluorescence live cell imaging and advanced analysis capabilities. Rising popularity of digital pathology owing to advantages like telemedicine, artificial intelligence integration and automated image analysis is boosting demand for digital microscopy solutions.
Advancements in microscopy techniques: Continuous research into enhancing resolution, depth of field and functionality of microscopes has led to development of novel microscopy techniques. Super-resolution microscopy techniques like stimulated emission depletion (STED) microscopy and structured illumination microscopy (SIM) provide resolution exceeding the diffraction limit. Likewise, expansion microscopy and expansion microscopy coupled with sequencing techniques are enhancing tissue exploration capabilities. Introduction of such advanced microscopy methods is supporting optical microscopes market growth.
Threat of new entrants: The optical microscopes market has moderate threat from new entrants given the significant level of technical expertise required for manufacturing microscopes and strong competitive intensity.
Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have many options to choose from due to presence of various established brands in the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers providing different microscope components.
Threat of new substitutes: The threat from substitutes is low as there are limited substitutes available for optical microscopes.
Competitive rivalry: The market has strong competitive rivalry among key players due to their focus on product innovations and expansion.
The global optical microscopes market is expected to witness high growth due to rising use of microscopes in various applications such as material sciences, biological sciences and semiconductor industry.
Regional analysis: The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to rising pharmaceutical and semiconductor industries and growing focus on R&D activities by key players in developing countries like India and China.
Key players operating in the optical microscopes market are Abbott, Synergy Pharma, Mallinckrodt, Bausch Health Companies Inc., Ardelyx, Astellas Pharma Inc., Novartis AG, GSK plc., Ironwood Pharmaceuticals, Inc., and Takeda Pharmaceutical Company Limited. Abbott focuses on expanding its microscopy product portfolio through new product launches.
- Source: Coherent Market Insights, Public sources, Desk research
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