Optical Microscopes Market Size

Optical Microscopes Market Analysis

The Optical Microscopes Market size is estimated at USD 2.76 billion in 2024, and is expected to reach USD 3.66 billion by 2029, growing at a CAGR of 5.83% during the forecast period (2024-2029).

The outbreak of COVID-19 showed a significant impact on the optical microscopes market as they were used in the diagnosis of COVID-19 infection and vaccination development process. The advancement of optical microscopes helped in the detection and identification of COVID-19 virus morphology, contributing to the growth of the market. For instance, per the NCBI article published in August 2021, the study used diffraction-unlimited fluorescence microscopy to analyze how SARS-CoV-2 infection exploits and repurposes the subcellular architecture of primary airway cells. Also, the increasing adoption of microscopy in the COVID-19 vaccination development is expected to contribute to the growth of the market over the pandemic period. According to the article published in Microscopy Australia 2020, the University of Queensland's facility was supporting COVID-19 work by providing microscopy to the vaccine development group. Optical microscopy and staff expertise at the University of South Australia are being used to develop methodologies and equipment, and to test the quality and effectiveness of locally manufactured personal protective equipment (PPE). Such employment of microscopy in PPE development contributed to the growth of the market during the pandemic period. In addition, the use of optical microscopes is expected to be on the rise due to the emergence of a mutant strain of the COVID-19 virus leading to the rise in research and development activities, thereby contributing to the growth of the market over the coming five years.

The major factors attributing to the growth of the optical microscopes market include technological advancements in optical microscopes and increasing funding for research and development in cell biology and biotechnology. Optical microscopes are used in many research areas comprising microbiology, microelectronics, nanophysics, biotechnology, laboratories in educational institutes, and pharmaceutical research. They are also used to view biological samples for medical diagnosis in diagnostic centers, thereby contributing to the growing demand for optical microscopes in end-user industries.

According to the Department of Health and Human Services 2021, the National Institute of Health and National Institute of General Medical Sciences (NIGMS) funded 'Research on Interventions that Promote the Careers of Individuals in the Biomedical Research Enterprise". Through this funding announcement, NIGMS intends to enhance the evidence base for effective, high-impact, scalable interventions, and to improve understanding of the elements contributing to the advancement of individuals pursuing biomedical research careers. Thus, increasing biotechnology career opportunities over the forecast period is expected to increase the demand for optical microscopes.

Various strategic initiatives undertaken by the major players, including mergers, acquisitions, collaborations, partnerships, and product launches, are expected to contribute to the growth of the market. For instance, in October 2020, Takagi Ophthalmic Instruments Europe Ltd launched the OM-6 Operating Microscope. OM-6 is the most excellent entry-level operating microscope, offering the world's first LED light source in the entry-level/compact ophthalmic operating microscope. Also, in May 2020, Miltenyi Biotec launched the Ultra Microscope Blaze, the world's first fully automated light sheet microscope. The new instrument enables users to image an entire mouse or multiple samples at subcellular resolution in 3D.

Thus, the global optical microscope market is expected to expand at a substantial rate, driven by an increase in demand from innovation science. However, limitations of optical microscopes compared to the electron microscope and low-cost products by small-scale manufacturers are the reasons expected to restrain the optical microscopes market during the forecast period.