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Video microscopes market size is predicted to grow at a considerable rate during the forecast timeframe of 2023-2032. The percentage of aging population is increasing steadily across the globe. According to a report by Eurostat, it is anticipated that centenarians will account for almost half a million of the total population in the EU by 2050. The rising prevalence of chronic diseases in many developing nations will also support the adoption of video microscopes.
There is a robust demand for minimally invasive devices in surgical procedures, especially among elderly patients. Since video microscopes provide doctors and patients with an accurate diagnosis of the underlying medical condition, their adoption will increase, eventually boosting the industry forecast over the coming years.
Several reputed medical device manufacturing companies are raising their R&D investments to launch innovative products and enhance the quality of patient care. For example, German microscope producer Leica Microsystems launched a new generation of the M320 dental microscope to generate ultra-high-resolution images with the help of a 4K camera integrated into the device. Such product innovations will spur video microscopes market growth.
End-users in several sectors are looking for high-quality and cost-effective diagnostic tools, resulting in the extensive implementation of 3D imaging technologies for an accurate diagnosis of chronic medical conditions. Manufacturing technologies are also experiencing advancements and these types of microscopes are witnessing high demand across many industry verticals, such as diagnostics, therapeutics, engineering, and human anatomical study, thereby creating multiple business opportunities for video microscopes market.
Based on type, global video microscopes industry is divided into 2D and 3D. The 3D technology segment is expected to hold a sizeable market share by 2032. 3D microscopes are being widely used by healthcare professionals in a variety of medical imaging approaches, such as MRI, CT scanning, and endoscopy. They also play a vital role in minimally invasive surgeries.
This has urged several companies to bring digital transformation in these products to make healthcare facilities more efficient. For instance, in August 2022, South Korean tech company MOPIC introduced its Light Field 3D Total Solution at InfoComm 2022 to turn analog microscopes into digital ones. These microscopes use 3D cameras to produce high-res images that can be of immense use in healthcare applications. Such developments will drive the market expansion in the forthcoming years.
In terms of application, video microscopes market is segmented into hospitals and laboratories. The industry size from the hospital segment may register a decent CAGR over the forecast timeframe. There is a notable rise in the demand for advanced technologies to diagnose microbial diseases, such as HIV, tuberculosis, and AIDS, as well as investigate blood smears, tissue samples, and other biological objects at a microscopic level. It has prompted organizations to set up research centers to develop innovative diagnostic technologies.
North America video microscopes market size is set to experience tremendous expansion during the forecast timeline as the incidence of chronic diseases is rising across the region. According to the U.S. CDC, every 6 out of 10 American adults are living with a chronic ailment. The region is also increasing its healthcare expenditure to improve the quality of its infrastructure. For example, as per the Canadian Institute for Health Information (CIHI), in 2022, the country’s total healthcare expenditure was expected to reach USD 244.6 billion. These factors are predicted to fuel the regional market growth.
Some of the prominent organizations operating in video microscopes market include Biobase, LW Scientific, PCE Iberica S.L., Microptik, Meiji Techno America Microscopes, Renfert GmbH, and Olympus Microscopy, among many others. These industry players are utilizing different growth strategies to expand their existing customer base.