Electron microscopes are those type of microscopes that uses a beam of accelerated electrons primarily as a source of illumination. These microscopes have the ability to offer high-resolution images and have the capability to magnify the objects to nanometres.
Global Electron Microscope, Forecasts From 2019-2025, in US$ Billion
Source: Knowledge Sourcing Intelligence Estimates
The above figure represents the market size of the control valve market which shows a healthy growth over the course of the next five years. The market is poised to grow on account of the burgeoning requirements across the industries for advanced imaging with high magnification of the objects. These microscopes offer a highly detailed and much-enhanced output in comparison with the traditional optical microscopes. These microscopes deliver a magnified image up to 10,000,000x on a shorter wavelength. There are wide applications in which these microscopes are considered to be highly beneficial that include research on microorganisms, cells, and biopsy among others. The booming adoption of these microscopes across the healthcare sector offers lucrative business opportunities for the manufacturers over the course of the next five years as the increasing health spending across various developed economies around the globe for adoption latest technology. Also, these microscopes in material research, life sciences, and several other industries is also a key factor bolstering the global electron microscope market growth during the next five years. The booming semiconductor industry is also amplifying the adoption of electron microscopes for inspection and quality check applications is also supplementing the market growth in the near future.
Health Expenditure (% of GDP), World, From 2017-2017
Source: The World Bank Group
The above chart represents the global healthcare expenditure (% of GDP) from 2007 to 2017 which shows that it increased from 9.045% in 2007 to 9.884% by the year 2017.
The Recent Outbreak of COVID-19 Will Drive the Demand
The outbreak of the novel coronavirus disease is anticipated to drive the market growth significantly during the short run only. The outbreak of disease has led to a boom in research activities across drug discovery and pharmaceutical research sector. The rising investments in the developments of vaccines and the growing number of sample tests is further expected to escalate the demand for microscopes.
Participation by Market Players
The market for electron microscopes is also poised to witness a healthy growth on account of the constant participation by the major market players in the form of R&D investments for the development and launch of new and advanced products to cater to the growing requirements of end-users. Also, the growing number of partnerships and acquisitions by the market players to gain a competitive edge over other players and gain a competitive edge over other players also shows the potential for the market to grow throughout the forecast period. For instance, recently in May 2020, Joel Ltd., a globally leading company that manufactures and develops electron microscopes and scientific instruments announced the launch of its latest Schottky Field Emission Scanning Electron Microscope JSM-IT800?FE-SEM with Intelligence Technology (IT) Platform. Similarly, in February 2020, the company also launched its new field emission scanning electron microscope with new several added features. Moreover, in May 2019, Hitachi High-Tech Corporation announced to launch two new scanning electron microscopes, the SU3800 and SU3900 that will have the ability to accommodate large and heavy specimens. Additionally, in October 2018, Zeiss announced the launch of a new field emission scanning electron microscope GeminiSEM 450.
The global electron microscope market has been segmented on the basis of product type, application, and geography. On the basis of product type scanning electron microscope, transmission electron microscope, and reflection electron microscope. On the basis of application, the market has been classified on the basis of material sciences, life sciences, and nanotechnology. Geographically, the distribution of the market has been done into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
By type, scanning electronic microscope segment is anticipated to witness a healthy growth over the course of the next five years on account the chemical and material sciences sector. These microscopes offer usefulness for observing shape and sizes in 3D views. The transmission electron microscope is expected to hold a considerable share in the market on account of the high reliability offered by these microscopes for understanding bacteria and viruses.
By application, the life sciences segment is anticipated to hold a considerable market share throughout the forecast period. The wide applications of these microscopes in clinical trials, pathology labs, and disease diagnostics are some of the key factors supplementing the share of this segment during the next five years. Also, the increase in the number of research labs across both developed and developing economies around the world has also led to an upsurge in the demand for electron microscopes, thereby augmenting the market growth during the next five years. The nanotechnology segment is anticipated to propel at a healthy compound annual growth rate over the course of the next five years on account of burgeoning applications.
Geographically, the North American region is anticipated to hold a substantial market share throughout the forecast period. The major factors supporting the significant share of the market in the region include the early adoption of technology and the presence of well-established industries in counties like the United States and Canada among others. Furthermore, the presence of major market players in the region along with the booming R&D sector across the region is also a key factor bolstering the market growth in North America. Furthermore, the presence of a high-tech semiconductor manufacturing industry also plays a significant role in shaping up the market growth in North America.
Furthermore, in the Asia Pacific region, the market is poised to show healthy growth during the next five years. The growing medical tourism in the region is a major factor bolstering the growth during the forecast period. Also, the rapidly growing healthcare infrastructure in countries like India, China, and Japan among others is also a major factor that is expected to drive the market growth in the APAC region throughout the forecast period.