Growing biomedical research for drug development and diagnostics of cancer is expected to build a favorable atmosphere for the growth of the multiphoton microscopy market in the near future. Moreover, various clinical development programs in several countries are focused at increasing cancer screening programs with the help of governments. This is leading to the early screening and diagnosis of cancer patients. Multiphoton microscopy is now also being used for imaging in clinical oncology diagnostic tests. Growing prevalence of cancer across the world is expected to fuel demand for multiphoton microscopy across geographies.
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Currently, players in the multiphoton microscopy space are consistently making changes in their product categories and technologies in order to enhance device capabilities. For instance, in December 2020, ZEISS introduced ZEISS Lattice lightsheet 7; this product is tailored to observe cellular processes within cells and small organisms in 3D over extended time periods, all at a subcellular resolution with minimum light dosage.
The global multiphoton microscopy market was valued at around US$ 150 Mn in 2019, and is projected to expand at a CAGR of close to 5% through 2031.
Key Takeaways from Multiphoton Microscopy Market Study
- Two-photon microscopy accounted for 94.2% market share in 2020.
- Deep tissue imaging is the most lucrative segment and holds nearly 18% of the market share.
- North America and Europe collectively hold over half of the global multiphoton microscopy market share, owing to technological advancements and increasing mergers and collaborations in these regions.
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- Hospitals & clinics account for over 5% value share, since they serve as the primary centers for disease diagnosis and treatment.
- The COVID19 pandemic has resulted in a temporary pause of all non-essential and elective procedures. Medical device manufacturers have been severely impacted, with companies reporting significant drop in revenue due to the cancellation of diagnostic procedures.
“Rising adoption of e-Commerce and increasing technological advancements are factors anticipated to aid growth of the global multiphoton microscopy market over the coming years,” says a Fact.MR analyst.
Addition of Innovative Products in Portfolio through Partnerships
To retain their positions in the market, prominent medical device manufacturers are identifying potential assets from smaller firms, which typically have limited resources to see projects through to the market.
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Through licensing deals and partnerships, companies are acquiring new products, while continuing to pursue their own in-house development strategies.
- For instance, in September, 2020, Bruker Corporation announced the acquisition of Canopy Biosciences, LLC, a leader in high multiplex biomarker imaging for immunology, immuno-oncology, and cell therapy. This acquisition enhances Bruker’s offerings in targeted multi-omics and fluorescence-based imaging techniques.
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