LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global student microscope market to grow at a CAGR of above 6% during the period 2018-2022, according to their latest report.
This market research report segments the global student microscope market into the following applications, including life science research and material science research and key regions, including the Americas, APAC, and EMEA.
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In this report, Technavio analysts highlight the low-cost and highly diversified products as a key factor contributing to the growth of the global student microscope market:
Low-cost and highly diversified product
Student microscopes, particularly compound and light microscopes, are usually purchased in large quantities as there is a huge student population that requires them for daily experimental needs in life science courses. Academic researchers are also major users of these microscopes as they are extensively used in the drug discovery process since the process involves repeated testing of drug targets and their response to specific dosages. A key driving factor for bulk purchases of these microscopes is their low costs. The low cost of these products is reflective in the product portfolios of some of the players.
According to a senior analyst at Technavio for lab equipment, “Players position some of their microscopes before other products on their websites to indicate which ones are on sale and which ones are not. These microscopes have a warranty period of three-four years. The players also provide full replacement of the product at no charge or at a very nominal charge. The high demand for student microscopes in the market is driven by the low product cost and additional discounts on the type of purchases. Research and academic institutions can easily purchase these types of microscopes as they cost only a fraction of high-end electron microscopy devices and have greater use than them.”
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Global student microscope market segmentation
Of the two major applications, the life science research segment held the largest market share in 2017, accounting for nearly 54% of the market. The market share for this application is expected to increase by 2022.
The Americas was the leading region for the global student microscope market in 2017, accounting for a market share of nearly 36%. By 2022, APAC is expected to witness the highest growth rate.
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