Microscope Software Market worth $780 million by 2023 at a CAGR of 13.5%

PUNE, India, 2020-Feb-17 — /EPR Network/ —

The microscope software market is projected to reach USD 780 million by 2023 from USD 414 million in 2018, at a CAGR of 13.5%. Growth in this market is driven by the rapid adoption of imaging solutions, the development of new Microscopy methods, and increasing volumes of biological imaging data.

The pharma & biotech industries end-user segment of life sciences microscope software market is projected to occupy the largest share of the market during the forecast period.

Pharma & biotech industries accounted for the largest share of the market in 2017. Microscopy plays a crucial role in pharmaceutical and biotech drug discovery and development. The pharmaceutical industry widely uses microscopy in drug discovery applications, which include drug formulation, toxicology, target identification, and cell culture. This is a key factor driving market growth. Advancements in microscopy techniques such as digitization, live-cell imaging, super-resolution, and high-throughput methods are also generating interest among pharmaceutical and biotechnology companies. This, in turn, will drive the market for this end-user segment.

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The life sciences application segment is projected to occupy the largest share of the market and grow at the highest CAGR during the forecast period.

The life sciences application segment is projected to be the fastest-growing segment during the forecast period. The large share of this segment is primarily due to the rapid adoption of imaging solutions in the life sciences field and the various opportunities created by new microscopy methods such as light sheet microscopy that gather huge amounts of biological imaging data.

North America is projected to account for the largest share of the microscope software market during the forecast period.

North America is estimated to account for the largest share of the microscope software market in 2017. Factors such as the presence of a strong life sciences industry and a large base of academic and research institutes in the US are driving the growth in this region. Canada is also a potential market for microscopy owing to favorable government support and growing academic excellence in nanotechnology-based R&D programs.

The major software vendors in this market include Danaher (US), Oxford Instruments (US), Zeiss (Germany), Olympus (Japan), Nikon (Japan), and Thermo Fisher Scientific (US). These players adopt various growth strategies such as expansions, acquisitions, and new product launches to expand their presence in the global microscope software market. Product launches and collaborations were the most widely adopted strategy by major players during 2015–2018. This helped them to expand their consumer base and address the unmet needs of end users.

Danaher, a leading player in the Microscope software market, mainly focuses on developing innovative products for 3D/4D image visualization. The company offers an extensive product portfolio for this market through its subsidiaries, Molecular Devices and Leica Microsystems. It has a strong presence in more than 100 countries, including major markets such as the US, China, Germany, and Japan. Danaher focuses on inorganic growth strategies such as partnerships and collaborations to remain competitive in the market. In 2018, it collaborated with several companies such as Triolab AS (Denmark) and Thermo Fisher Scientific (US) as well as institutions such as the University of California, Los Angeles (US) and King Abdullah University of Saudi Arabia (Saudi Arabia).

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Zeiss is another leading company that provides microscopes and software. Its software product range covers electron, confocal, as well as correlative microscopy. The company’s Zen software for light and confocal microscopy is well-established and widely used in life sciences research. Carl Zeiss focuses on inorganic growth strategies such as collaborations and partnerships. In 2017, the company entered into a collaboration with VB Bioimaging Center (Belgium) to develop and patent an innovative software-based super-resolution image processing technology. The company has a vast geographic presence and operates in 150 countries across the world. Carl Zeiss has a strong portfolio that provides it with a competitive advantage in the market.

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