The global microscopy devices market is expanding at a CAGR of 7.60% within a forecast period from 2014 to 2020. The market was valued at US$5.7 bn in 2013, from which it is expected to expand to US$9.7 bn by the end of 2020, according to a research report released by Transparency Market Research. The report, titled “Microscopy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, is available on the company website for reference and sale.

The report includes details on all the factors that drive and restrain the global microscopy devices market. The primary driver for the growth of the market is the leap in the rate of research and development carried out in advancing the technology used today. Innovativeness in the field of microscopy devices is being highly valued and novel approaches are being considered in order to create increasingly powerful and accurate microscopes. Other factors driving the global microscopy devices market are innovations carried forward in the field of semiconductor electronics. The semiconductor industry is rapidly expanding in emerging economies, further fueling the global microscopy devices market.

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The global microscopy devices market is taking long strides towards the use of nanotechnology. Global funding on the incorporation of nanotechnology in microscopy devices has increased considerably over the past few years, giving rise to a strong research and development phase for the use of nanotechnology in microscopy devices.The market is, however, restrained by the high pricing of advanced microscopes, which has hampered the global microscopy devices market’s penetration in developing nations. Additionally, the complexities related to sample preparation and instrumentation of the devices is expected to hinder the market’s overall growth rate.

The report’s segmented analysis of the global microscopy devices market reveals optical microscopes to have led the products category in 2013, with a market share of 38.90%, which amounts to US$2.2 mn in global sales. The second largest product segment in 2013 was of electron microscopes.The segmentation by application reveals the global microscopy devices market leader for 2013 to have been the life sciences industry. It is expected to progress at a CAGR of 6.40% in the report’s forecast period. The second largest application segment in 2013 was the semiconductors industry. This segment is expected to expand at a 12.40% CAGR between 2014 and 2020.

The geographical analysis of the global microscopy devices market shows Asia Pacific to have dominated the market in 2013 with a share of 40.9%. The Asia Pacific microscopy devices market is expected to progress rapidly in the coming years owing to increased research and development activities conducted in schools, universities, government organizations, and research institutes.The largest investor in the global microscopy devices market’s R&D activities has been China. The key players in the global microscopy devices market are Olympus Corporation, Cameca SAS, Hitachi High-Technology Corporation, JEOL Limited, Bruker Corporation, Nikon Corporation, Danish Micro Engineering A/S, Leica Microsystems, Carl Zeiss AG, FEI Company, and NT-MDT Company.