Life Science Microscopy Devices Market – Insights
In the field of drug development and research, use of microscopy devices for studies have become important to avoid failures and repetitions. Moreover, digitally enhanced images provided by microscopes could provide insights into target identification and validation, and drug discovery. Hence, the changing approach towards drug development, imaging diagnostic techniques, nanoscience, and structural biology, which incorporates the use of technologically advanced microscopes are expected to increase the demand for life science microscopy devices, in turn boosting growth of life science microscopy devices market.
Advantages of life science microscopy devices such as 2 and 3 dimensional measurements of an object, flexibility to increase feasibility of various investigations, and one point focused images are major factors responsible for increasing application of these devices in forensic testing, which is further expected to boost the market growth over the forecast period.
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The global life science microscopy devices market was valued at US$ 1,350.6 million in 2017 and is expected to witness a CAGR of 6.8% over the forecast period (2017–2025).
Rising development of technologically advanced products is expected to drive growth of the life science microscopy devices market
The market is expected to gain significant growth, owing to the rapid development activities for the launch of technologically advanced and cost-effective quality products such as robotic visualization systems for ease of use in surgeries. For instance, on November 9, 2017, Olympus Corporation planned to launch two types of Upright FV3000 confocal laser scanning microscope by January 2018 to observe phenomena such as super-fast signal propagation in the nervous system. Furthermore, increasing research and development in the field of proteomics and genomics, and high prevalence of infectious diseases and cancer are major factors driving growth of the life science microscopy devices market. For instance, according to 2012 EU Industrial R&D Investment Scoreboard, the pharmaceutical and biotechnology sectors represented 17.7% of the business R&D expenditure in the world. Furthermore, according to the U.S. Food & Drug Administration (FDA), the number of approved medicines increased to 45 in 2015 from 21 in 2010, which indicates the increased number of research activities being carried out by pharmaceutical organizations. Such advancements in research is expected to drive growth of life science microscopy devices market.
However, many microscopes such as electron microscope and scanning electron microscope requires stable voltage supplies, supply of current to electromagnetic coils, and circulation of cool water so that the samples are not damaged due to the heat given off during the process of energizing the electrons. Therefore, maintenance of these systems is expensive and requires more time and effort, which is expected to restrain growth of life science microscopy devices market.
Increasing nanotechnology research is also driving growth of the life science microscopy devices market
The field of nanotechnology witnessed significant progress in the past few decades and has impacted dentistry, health care, and human life more profoundly than many other developments in the past.
Moreover, it can be used in drug delivery, biosensors, and other biomedical applications. Thus, increasing nanotechnology research and development activities and demand for appropriate tools to characterize the functional properties of nanomaterials are expected to drive growth of life science microscopy devices market over the forecast period. For instance, in 2013, the U.S. Federal Government proposed a budget of US$ 1.8 billion for 15 agencies for nanotechnology research and development.
Increasing collaboration among market players is also expected to propel growth of the life science microscopy devices market over the forecast period. For instance, on June 29, 2016, Nikon Corporation partnered with the Biotechnology Innovation Organization (BIO) under the BIO Business Solutions offerings. In this program, Nikon offered a wide selection of research instrumentation and digital imaging solutions for microscopy for direct purchase to BIO Members. Furthermore, in March 2017, Leica and Abberior Instruments licensed agreement regarding Leica’s light microscopy product portfolio to offer innovative, state-of-the-art technologies for life science/biomedical research, biotechnology, and medicine.
Key players operating in the global life science microscopy devices market include Olympus Corporation, Thermo fisher Scientific, Inc., Nikon Corporation, Carl Zeiss AG, Keyence Corporation, JEOL Ltd., Bruker, Hitachi High-Technologies Corporation, Leica Microsystems, and F. Hoffman-La Roche Ltd.
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