Albany, NY, May 13, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research " Life Science Microscopy Devices Market - Global Industry Analysis, Size, Volume, Share, Growth, Trends and Forecast 2014 - 2020 ," the global life science microscopy devices market was valued at USD 1,656.0 million in 2013 and is expected to grow at a CAGR of 6.6% in the forecast period from 2014 to 2020, to reach an estimated value of USD 2,614.0 million in 2020.
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According to the National Science Foundation, academic spending in life science research in 2011 accounted for 60% of the total academic research and development (R&D) spending in U.S. Whereas a report published in the New England Journal of Medicine in 2014 stated that the overall research and development spending in the Asia-Oceania region increased by USD 10.9 billion from 2007 to 2012, the highest among other regions. These statistics imply an increasing trend in the research and development funding worldwide, especially the Asia Pacific region. Microscopes, an essential component in research, will experience increasing demand with this positive trend in the life science research industry. Moreover, increasing contract research organization (CRO) market which is rapidly shifting from the western or developed regions to the emerging economies in Asia and Latin America will be augmenting the growth of microscopes in these regions.
The global life science microscopy devices market is analyzed based on the device types as optical microscopes, electron microscopes and scanning probe microscopes and based on the geography as North America, Europe, Asia Pacific and rest of the world. Further, each device type is segmented based on geography, application and product type. Optical microscopes held the dominant share of more than 40.0% in 2013, in the global life science microscopy devices market owing to its low cost and ease of operating with minimal sample preparation efforts. Researchers at the academic institutes and public and private research laboratories majorly utilize optical microscopes. Moreover, these microscopes, especially the stereo and inverted microscopes, find major life science application in cell biology and clinical/pathology. Cell biology and clinical/pathology - the primary arenas of life science research are the major application for microscopy devices globally.
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Furthermore, the demand for transmission electron microscopes is expected to grow rapidly in the global life science electron microscopy devices market on account of its extensive use in advance life science research such as in neuroscience, drug toxicity, cellular mechanism in disease condition. North America is the leading market for life science electron microscope as they have the affordability and supporting infrastructure for operating the electron microscope.
Similarly, the global life science scanning probe microscopes market was dominated by North America among the other regions whereas in terms of product type, the atomic force microscopes (AFMs) segment held the major share. High cost of this advance instrument makes it a viable solution only in the developed nations such as U.S., U.K., Canada, Italy, Germany, Japan and Australia. Easy working of atomic force microscopes compared to the scanning tunneling microscopes which requires a conductive surface to enable imaging, generates high demand for AFM.
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Furthermore, average prices of life science microscopy devices range from USD 2,200 to USD 825,000. Though there are microscopes available which are priced beyond this range, demand for microscopes in this range is observed to be higher. Moreover, buyers need to have the supporting infrastructure especially for the advanced microscopes which require separate operating room. Infrastructure in the emerging economies is gradually developing which will boost the demand for advance microscopy devices.
The global life science microscopy devices market is characterized by the presence of prominent players which dominate the respective microscopes market. Olympus Corporation was the market leader in global life science optical microscopes market whereas Hitachi High-Technologies Corporation was the market leader in global life science electron microscopes market.
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The global life science microscopy devices market is segmented as follows:
Global Life Science Microscopy Devices Market, by Device Type
Optical Microscopes
By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
By Application
- Cell Biology
- Clinical/Pathology
- Biomedical Engineering
- Pharmacology and Toxicology
- Neuroscience
By Device Type
- Inverted Microscopes
- Stereo Microscopes
- Phase Contrast Microscopes
- Fluorescence Microscopes
- Confocal Scanning Microscopes
- Near Field Scanning Microscopes
- Other Optical Microscopes
Electron Microscopes
By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
By Application
- Cell Biology
- Clinical/Pathology
- Biomedical Engineering
- Pharmacology and Toxicology
- Neuroscience
By Device Type
- Transmission Electron Microscopes
- Scanning Electron Microscopes
- Scanning Probe Microscopes
By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
By Application
- Cell Biology
- Clinical/Pathology
- Biomedical Engineering
- Pharmacology and Toxicology
- Neuroscience
By Device Type
- Scanning Tunneling Microscopes
- Atomic Force Microscopes
Global Life Science Microscopy Devices Market, by Geography
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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