ASEAN Biological Optical Microscope Market: Introduction
According to the report, the biological optical microscope market in ASEAN was valued at US$ 46.8 Mn in 2020 and is projected to expand at a CAGR of 4.3% from 2021 to 2031. A biological microscope is generally a type of optical microscope that is primarily designed to observe cells, tissues, and other biological specimens. Multiple objective lenses can be attached, which gives these microscopes a magnification that can range anywhere from 10x to 1,000x or more.
Optical microscopy, although a long-established characterization technique, has witnessed a large number of changes in the past few years. These could involve higher resolution, higher speed of data acquisition, more quantitative results, or more sensitive detection.
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Surge in R&D Activities Boosts Demand for Biological Optical Microscopes
The importance of innovation in shaping economic growth is fundamental to the new growth theory, which assumes that long-term growth can be achieved through endogenous technological progress. Presently, governments focus on the development of innovation policies and strategies. This strategy is steadily fueling R&D spending in ASEAN countries. Innovative research & development programs in ASEAN countries such as Thailand 4.0 Programme and Pharma Innovation Programme Singapore through public-private partnership are anticipated to drive the biological optical microscope market in ASEAN.
Lack of Affordability in Academic Segment to Hamper ASEAN Biological Optical Microscope Market
Light microscopes, which are also known as optical light microscopes, employ visible light to detect small objects, making them a useful research tool in the field of biology. These microscopes offer several advantages; however, a number of students and teachers are unaware about the full range of features that are possible.
The best microscopes are not usually available to most academic programs, especially in the underdeveloped economic countries in ASEAN such as Myanmar and Cambodia, as the cost of the instrument increases with its versatility and quality is expected to become major obstruction for the growth of the biological optical microscope market in underdeveloped ASEAN countries.
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Inverted Microscope Segment to Dominate ASEAN Biological Optical Microscope Market
The biological optical microscope market in ASEAN has been segmented based on product, application, and end-user. In terms of product, the biological optical microscope market in ASEAN has been classified into upright, inverted, stereomicroscope, confocal, super resolution, TIRF, multiphoton, light sheet, and others.
The inverted segment is likely to account for major share of the market by 2031. Easy to use and time & cost saving in sample preparation during biological research and development activity are the key factors projected to drive demand for inverted microscopes.
Hospitals & Pathology Laboratories Segment to Dominate ASEAN Market
In terms of end-user, the biological optical microscope market in ASEAN has been divided into academic & research institutes, hospitals & pathology laboratories, pharmaceutical & biotechnology companies, and fertility clinics. The academic & research institutes segment is anticipated to expand at a high CAGR during the forecast period due to increase in incidence of diseases that require identification of microbe for treatment.
Indonesia to Lead ASEAN Biological Optical Microscope Market
The biological optical microscope market in ASEAN has been segmented into Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, and Rest of ASEAN. Indonesia dominated the biological optical microscope market in ASEAN in 2020, followed by Singapore. Indonesia accounted for major share of the biological optical microscope market in 2020 due to large number of installation of microscopes in hospitals and pathology labs. The country has more than 2,000 hospitals.
The biological optical microscope market in Singapore is expected to expand at a high CAGR from 2021 to 2031. Rise in healthcare expenditure and research & development activity are likely to drive the market in the country.
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Competition Landscape
The report also presents profiles of leading players in the biological optical microscope market in ASEAN. These include Nikon Corporation, Carl Zeiss AG, Olympus Corporation Leica Microsystems Meiji Techno, Motic, Oxford Instruments, and Digisystem Laboratory Instruments, Inc.
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