The size of the Microscopy market in Asia-pacific was around USD 1.46 Billion in 2023. It is expected to grow at a CAGR of 8.1% to reach USD 2.15 Billion by 2028.
Some factors such as growing funds and investments in Microscopy R&D, technological advancements, and rising concentration on nanotechnology and regenerative medicine are majorly propelling the microscopy market in the APAC region. In addition, increasing applications in nanotechnology which is one of the existing technology and widely used for an extensive range of applications like electronics, IT applications, healthcare, medical, energy, and other utilities, is also adding fuel to the market growth. Moreover, the low cost of the raw materials, the availability of low-cost experienced labor in this region, and the introduction of artificial intelligence in microscopy are further expected to accelerate the growth in the market in the upcoming years.
The high costs associated with the advanced microscopes and increasing excise tax may hamper the market growth. Besides this, a lack of awareness regarding the microscopy market hinders the growth in this region. Lack of consciousness among the key players is expected to obstruct the growth in this region.
This research report on the APAC microscopy market has been segmented and sub-segmented into the following categories:
By End User:
Regionally, the Asia Pacific is expected to showcase a high CAGR during the forecast period due to swelling research activities in countries like Japan and China. Asia-Pacific is esteemed to have the highest CAGR over the analysis period due to increasing research activities such as China and Japan. Growing research and development funds and investment activities for microscopy, augmenting applications for correlative microscopy towards life sciences and nanotechnology research. In countries like China and India, factors like increasing proficiency and academic excellence in existing APAC countries.
The Japanese microscopy market is projected to showcase the highest CAGR growth rate during the forecast period and is majorly driven by advancements in microscopes. Furthermore, the appearance of enormous key players incorporated with the growing number of local manufacturers is considered to surge the microscopy market in the APAC region.
The Chinese microscopy market is expected to be the largest market in the APAC microscopy market. This is because it has increased demand, low cost, new product developments, and growing applications for microscopy.
The microscopy market in India is predicted to have considerable growth in the historical period as of rising healthcare domain together with growing applications with existing economies which provides various advantages with which causes to the development of microscopy in the market of this region.
KEY MARKET PLAYERS:
Some of the noteworthy companies in the APAC microscopy market profiled in this report are Carl Zeiss, Danaher, Thermo Fisher, Nikon, Bruker Corporation, Olympus, Oxford Instruments, JEOL Hitachi High-Technologies, Keyence, Vision Engineering, and Helmut Hund.
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