Global Optical Microscopes Market Grows Steadily at a CAGR of 5.45%

Introduction

The optical microscope, also known as a light microscope, utilizes visible light and a set of lenses to magnify images of small objects. The optical microscope is the oldest type of microscope, and its present compound form was likely invented in the seventeenth century. Despite numerous complex designs aimed at enhancing sample contrast and resolution, simple optical microscopes can exist.

The object can be viewed directly on a stage through one or two eyepieces. On a turret, various objective lenses with different magnifications are typically mounted, allowing them to rotate into position and enable zooming. Due to visible light's limited resolution power, optical microscopes typically have a maximum magnification of approximately 1000x.

Market Dynamics

Rising Funding for R&D Drives the Global Market

Optical microscopes are utilized in various sectors, including cell biology and biotechnology, microbiology, microelectronics, nanophysics, biotechnology, educational institute laboratories, and pharmaceutical research. Recent advances in nanotechnology and biotechnology are driving the expansion of R&D activity and the segment as a whole. As per the National Institute of Health 2020, funding for biotechnology at the National Institute of Health in 2020 was approximately USD 7.77 billion.

Similarly, according to the January 2022 article US Investments in Medical and Health R&D 2016-2020, 85 percent of medical and health R&D investment in the United States reached USD 245.1 billion in 2020, an increase of 11.1% from 2019. This increase in funding is expected to accelerate the market's expansion throughout the projection period, together with the rise in R&D investment for medical and health services in the United States.

Development in the Field of Optical Microscopy Creates Tremendous Opportunities

Numerous market participants are concentrating on introducing innovative products. For example, Olympus Corporation (Representative Director and President: Yasuo Takeuchi) announced the global release of the DSX1000 digital microscope, which greatly improves the inspection workflow of users and allows the analysis of a comprehensive variety of samples with a single instrument. The Olympus Scientific Solutions division introduced this new product internationally on June 3, 2019. Therefore, the factors mentioned above, such as technological advancement and innovation in the field of optical microscopes, are anticipated to generate enormous market expansion opportunities.

Regional Analysis

North America is the most significant global optical microscopes market shareholder and is anticipated to exhibit a CAGR of 5.52% during the forecast period. In North America, the market for optical microscopes is anticipated to expand due to a surging emphasis on patient care and need, a well-developed infrastructure, a technologically advanced healthcare system, and government support for R&D projects. According to a report published by the American Association for the Advancement of Science in April 2021, the National Institutes of Health budget for FY 2021 increased by 3% to just under USD 43 billion. Congress also allocated an additional USD 1.25 billion to the agency through its most recent pandemic response legislation.

Additionally, multiple key players in Canada are developing new technologies and improving optical microscopes. For instance, Nikon Instruments Inc. inaugurated the Center of Excellence at the Lunenfeld-Tanenbaum Research Institute of Sinai Health in Toronto, Canada, in March 2021. The Center will draw upon its resources, technical expertise, and experienced staff in advanced imaging in cell biology.

Europe is estimated to exhibit a CAGR of 5.43% over the forecast period. Due to the rising demand for diagnostic tools in laboratories and research, the European optical microscope market has expanded steadily over the past several years. In addition to expanding the market, the region's rapidly growing elderly population also contributes to its growth. For instance, the World Population Dashboard's Statistics 2021 report from the UNFPA estimates that France has approximately 21.1 million senior citizens. The demand for microscopy equipment is anticipated to increase during the forecast period, as chronic diseases such as cardiovascular disease are most likely to affect an aging population. In addition, numerous regional developments paved the way for the widespread adoption and application of optical microscopes. Vision Engineering UK introduced DRV Stereo CAM in July 2021, a new and innovative stereo camera system that transforms optical stereo microscopes into high-magnification, high-definition 3D stereo microscopes.

Key Highlights

• The global optical microscopes market was valued at USD 2,468.20 million in 2022. It is estimated to reach 3,979.23 million by 2031, growing at a CAGR of 5.45% during the forecast period (2023–2031).
• Based on product, the global optical microscopes market is divided into digital microscopes, stereo microscopes, inverted microscopes, and other products. The inverted microscope segment is the largest revenue contributor to the market and is expected to exhibit a CAGR of 6.12% throughout the forecast period.
• Based on the end-user, the global optical microscopes market is segmented into hospitals and clinics, diagnostics laboratories, academic and research institutes, and other end-users. The diagnostics laboratories segment owns the highest market share and is estimated to exhibit a CAGR of 5.52% during the forecast period.
• North America is the most significant global optical microscopes market shareholder and is anticipated to exhibit a CAGR of 5.52% during the forecast period.

Competitive Players

1. Carl Zeiss AG
2. Danaher
3. Meiji Techno
4. Olympus Corporation
5. Nikon Instruments Inc.
6. Labomed Inc.
7. Bruker Corporation
8. Hitachi High-Tech Corporation
9. Agilent Technologies
10. Celestron
11. ACCU-SCOPE Inc
12. AmScope

Recent Developments

• July 2023- Nikon Corporation introduced the AX R MP with NSPARC super-resolution multiphoton confocal microscope, which enables highly sensitive array detection and super-resolution in deep areas of large living organism specimens.
• April 2023- Nikon Corporation announced the development and release of the digital imaging microscope "ECLIPSE Ui"*2 as Japan's first medical microscope ever.

Segmentation

1. By Product
   1. Digital Microscopes
   2. Stereo Microscope
   3. Inverted Microscopes
   4. Other Products
2. By End-Users
   1. Hospitals and Clinics
   2. Academic and Research Institutes
   3. Diagnostics Laboratories
   4. Other end-users