The microscopy device market is expected to register a CAGR of 7.8% during the forecast period (2021 to 2026).
The microscopy devices are mainly used in the research and development activities in different industrial areas such as pharmaceuticals, electronics, life sciences, and others, and as there was lockdown or lockdown like restrictions around the world due to the COVID-19 pandemic, these activities were negatively impacted, and thus impacting the microscopy devices market around the world shortly. Although, the electron and other microscopes were very crucial in the structural analysis of the SARS-COV-2 virus which was very important in the development of diagnostics tests and vaccines against COVID-19. For example, according to the research article published in September 2020 in the “Nature” journal, the researchers used high-resolution scanning electron microscopy for the ultrastructural analysis of the SARS-CoV-2 virus’ interaction with the host cell. Also, due to COVID-19, the manufacturing, sales, and installment of the new microscopy devices were negatively impacted but with the increasing vaccination and decreasing infection cases, the market is expected to recover soon from the impact of COVID-19.
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The technological advancements in the field of microscopy and improvements in the available devices are one of the major driving growth factors for the studied market along with the increasing research and development activities and investments in the area of nanotechnology and life sciences, globally. For instance, as per the April 2019 report of the American Association for Advancement of Science, the total budget of the National Institute of Health of United States in 2018 was USD 37,224 million which increased by about 5.6% to USD 39,306 million in 2019 which also included the fund for research activities for different diseases and medical conditions. In the life science segment, the use of microscopy devices in the identification and diagnosis of microorganisms and viruses causing disease in humans, animals, or plants are increasing which will complement the growth of the market. For instance, the research article titled “Diagnostic Electron Microscopy of Viruses with Low Voltage Electron Microscope” published in June 2020, concluded that the resolution, image quality, and speed were sufficient for diagnostic electron microscopy of viruses of the tested low-voltage microscope in negative staining samples and thus the electron microscopes can be used in the identification of different disease causing microorganisms which will boost the growth of the studied market in the forecast period.
Also, the companies which offers microscopy devices are actively involved in the research and development of new innovative solutions for the studied market to have an edge over other competitors which will boost the growth of the microscopy devices market during the forecast period. For instance, in September 2019, GE Healthcare, a subsidiary of GE Company, launched its super resolution and highly stable microscope for the researchers to observe the extreme details of the cells, called DeltaVision OMX Flex super resolution microscope.
Other factors which will be the contributing factor for the growth of the microscopy device market are its demand in the electronics industry in the development of the semiconductor chips, in the material science and others. However, high cost associated with the advanced microscopy devices will impede the growth of the microscopy device market during the forecast period.
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