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Microscopy Market Size is predicted to record considerable growth from 2022 to 2028 driven by the growing developments in the use of microscopic diagnosis and use of advanced magnification devices in diverse end-user sectors including healthcare and medical, pharmaceutical, agriculture, and other industries.
Furthermore, the market growth is being further propelled by factors like favorable funding scenarios for research and development in microscopy, increasing focus on nanotechnology and regenerative medicine, and technological development in microscopes. In 2021, University of Queensland researchers developed a quantum microscope capable of revealing biological structures that are impossible to be seen. This novel introduction is expected to pave way for applications in biotechnology while expanding beyond areas ranging from navigation to medical imaging.
However, the overall market expansion is poised to be hampered by the high cost of advanced microscopes and increasing investments in software subscriptions for the same. Besides, a dearth of skilled professionals would as well challenge the global industry growth in the ensuing years. Nevertheless, growth in digital microscopy trend is speculated to offer lucrative growth opportunities for the market progression. Digital imaging provides enhanced image resolution with high precision, resulting in fewer distorted images and offering better viewing of samples.
Based on the type, optical microscope segment is estimated to grow substantially in the coming years. Optical microscopes use one or a series of lenses to amplify images of small samples with visible light. The product is generally used in various research areas including microelectronics, microbiology, biotechnology, pharmaceutical, and nanophysics research. Further, optical microscopes can be highly useful in viewing biological samples for medical diagnoses.
Microscopes boast different applications worldwide. Electron microscopy has various uses in life sciences, including the prevention of infection, discovery of viruses, drug development, clarification of the structure of organelles, and food safety. Moreover, it is being utilized in a host of fields like microbiology, cellular biology, toxicology, clinical pathology, and botany. Meanwhile, it is also used to investigate cell structures and their functions and the ultrastructure of proteins and biomolecules.
Latin America microscopy market is touted to account for considerable gains through 2028, fueled by the rising attention of major pharmaceutical and biotechnology companies towards Latin American nations for carrying out their clinical trial projects. This can be credited to the presence of a favorable regulatory framework, availability of advanced research infrastructure, and easy feasibility of patient pool. Imperatively, governments of various countries in the region have streamlined the approval processes of conducting clinical trials, considering the advantages of competitive clinical trials that follow.
The overall market is highly consolidated and boasts of the presence of leading players like Agilent Technologies, Abbott Laboratories, GE Healthcare, Thermo Fisher Scientific, Bausch and Lomb (Bausch Health, Bausch Health Companies), Danaher, and Carl Zeiss (Carl-Zeiss-Stiftung). These businesses are effectively taking up prominent strategies to solidify their positions in the overall market in the coming years.
The COVID-19 outbreak worldwide had significantly propelled various businesses and industries globally, bringing down the revenue scales and shares of these drastically. However, the market was amongst the moderately affected markets during the coronavirus pandemic in 2020. Speaking of the negative influence, the market was impacted adversely by the disruptions in supply chain and raw materials, reduced workforce, and stringent lockdown norms. On the other hand, increasing experiments in life sciences and R&Ds had produced a profitable opportunity for the market to recover from the impact.
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