Scanning Electron Microscope Market Analysis by Growth Drivers and Current Trends till 2027
Technological advancements in developing microscopes with high integration and resolution power have spurred the demand for scanning electron microscopes (SEM). These microscopes are primarily utilized for quality control, failure analysis and research in material sciences. These capabilities make them useful in sectors like forensic sciences and semiconductors, resulting in increased production of low-cost materials. As per a report by Global Market Insights Inc., the scanning electron microscope market size is predicted to surpass USD 4.1 billion by the end of 2027.
Research and development investments in life science and semiconductor industries have boosted the market growth. To support this statement with an instance, Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act funded over USD 3 billion to NSF in the United States. The National Semiconductor Technology Center was created for research and development with the financial assistance of USD 3 billion for over a decade. The COVID-19 pandemic has also accelerated the process of developing advanced equipment that delivers effective therapeutic treatment. These aforementioned factors will significantly contribute to the proliferation of the market.
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Speaking of which, the U.S. government is heavily investing in research and development activities that has fueled the usage of novel microscopic devices. In fact, the 2020 financial budget has allotted over USD 134 billion for research and development. These funds were essential as the production costs of SEMs are high. Many leaders in SEM manufacturing are based in the U.S. and their growing emphasis on business expansion propels the market demand in the country. Such a strong industrial presence has prompted government bodies to assign more funds for research in this sector. The aforementioned factors are significantly fueling the growth numbers of the scanning electron microscope market.
Surging biopharmaceutical industry is providing an impetus for the life sciences segment growth. This segment held a revenue share of around USD 680 million in 2020. Companies are conducting thorough researches for developing advanced biologicals and therapeutics. The development process is also aided by topological and morphological studies. Such a crucial role of microscopy technologies in the development of biological products to spur the demand for scanning electron microscopes.
When it comes to types of microscopes, Conventional SEMs will experience a commendable rise in demand. In fact, the segment is set to record a CAGR of 6.5% in the coming years. The growth is attributed to the developments in conventional microscopes which further provide enhanced features. It helps in characterizing nanostructures like fractures, grain boundaries, corrosion and grains, further helping in detailed sample studies and simplifying processes. Even though conventional scanning electron microscopes carry so many benefits, their higher cost may hamper the demand in the near future.
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Some of the major players of the scanning electron microscope market are Hitachi High-Tech, FEI, Carl Zeiss, JEOL Ltd. among others. Many key manufacturers are devising strategies with collaborations and partnerships for strengthening their market position. JEOL Ltd. launched their new SEM, the JSM-IT700HR in August 2020. These product announcements help these players in expanding their business operations across the world.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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