According to the latest market report published by Persistence Market Research titled ‘Global Confocal Microscope Market: Global Industry Analysis 2013 – 2017 and Forecast, 2018 – 2028,’ the global confocal microscope market is projected to reach US$ 1,310.5 Mn by the end of 2028 and grow at a CAGR of 3.3% during the forecast period.
Global Confocal Microscope Market: Dynamics
Confocal microscope is a special form of standard fluorescence microscope. Confocal microscopy is different from the conventional wide field fluorescence microscopy, in which the optical path is designed to place in front of the image detector (photomultiplier tube or camera), and an aperture (opening) at a point where the image is focused in conjunction with the focal plane of the image.
Government policies and funding for biological research activities and shift towards value-based care are the major factors expected to drive the growth of the market for confocal microscope over the forecast period. Furthermore, increasing number of research and development activities and technological advancement in microscopy are the other factors expected to spur the growth of the market for confocal microscope over the forecast period.
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Increasing spending on research & development and emergence of academia as the primary organization for carrying out basic research will further increase the adoption rate of confocal microscope. Likewise, use of confocal microscope for live cell imaging and confocal microscopy in ophthalmology is also expected to drive the growth of the market for confocal microscope.
However, high cost of technologically advanced microscopes and shortage of skilled professionals and expertise are expected to hamper the growth of the Confocal Microscope market.
Global Confocal Microscope Market: Forecast
The global confocal microscope market is segmented on the basis of product type, and end user. On the basis of product type, the global confocal microscope market is segmented into microscope system, accessories and software. Microscope system is sub segmented into laser scanning confocal microscope, spinning disk confocal microscope and re scan microscope. The microscope systems is expected to be the leading segment in the global confocal microscope market over the forecast period. The microscope systems accounts a total value share of 92.0 % of the global confocal microscope market in 2017. The laser scanning confocal microscope segment is estimated to have incremental opportunity of US$ 200.1 Mn between 2016 and 2028. Among end user, academic & research institute segment is expected to hold high share in the global confocal microscope market owing to increasing number of research in life science applications and rising adoption of confocal microscope in academic research.
Geographically, the global confocal microscope market has been segmented into North America, Latin America, Europe, Asia Pacific, Japan and Middle East & Africa. This report assesses the trends driving the growth of each segment and offers analysis and insights into the potential of the confocal microscope market in specific regions. North America accounted a large share in the global market in 2017, and is expected to be the dominant regional market for confocal microscope over the forecast period, owing to increasing spending in research and development.
Besides, presence of several key players with a robust distribution network for microscope and collaboration for the development of new techniques are some of the other key factors expected to drive the growth of the confocal microscope market in North America. Asia Pacific is expected to witness rapid growth over the forecast period.
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Global Confocal Microscope Market: Competitive Landscape
The report profiles some of the top players operating in the global confocal microscope market, such as Olympus Corporation, Leica Microsystem, ZEISS Group (Carl Zeiss Meditec AG), Nikon Corporation, Bio-Rad Laboratories, Inc., Bruker Corporation, Oxford Instruments plc., Confocal.nl, ISS.Inc, Thorlabs, Inc among others.