InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Microcrystal Electron Diffraction (MicroED) Service Market – (By Type (Single Crystal Cultivation, No Single Crystal Cultivation Required), By Application (Proteins, Small Molecules, Other)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Microcrystal Electron Diffraction (MicroED) Service Market is valued at US$ 2.04 Bn in 2023, and it is expected to reach US$ 3.10 Bn by 2031, with a CAGR of 5.52% during the forecast period of 2024-2031.
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Microcrystal electron diffraction (MicroED) service is an analytical method that determines the atomic structure of microcrystalline samples. It is used in structural biology, chemistry, and materials science. MicroED, are in high demand due to the expanding market. Drug development and molecular biology benefit greatly from the method’s capacity to examine the structure of both biological macromolecules and chemical small molecules, which is expected to boost the growth of the global microcrystal electron diffraction (MicroED) service market. Moreover, the resolution and accuracy of analyses have been improved by innovations in MicroED technology, which include better sample preparation, data gathering, and structural determination.
Due to these improvements, MicroED is now a more appealing option for conducting in-depth structural analyses of microcrystalline samples. Favorable government initiatives to promote the use of microcrystal electron diffraction (MicroED) service owing to increased use of MicroED in industries such as pharmaceuticals and the study of materials, along with a strong scientific community, are driving this expansion and ultimately increasing competition, thereby boosting the market growth.
List of Prominent Players in the Microcrystal Electron Diffraction (MicroED) Service Market:
- Viva Biotech
- NanoImaging Services
- XtalPi Inc
- Wuxi Biortus Biosciences Co. Ltd.
- ReadCrystal
- Creative Biostructure
- Shuimu Biosciences
- NovAliX
- ELDICO Scientific
- Thermo Fisher Scientific
- Other prominent players
Market Dynamics:
Drivers-
Growing demand for rising in popularity throughout industries including medicine, chemistry, biology, and technology advancement is a key factor estimated to drive growth of the target market. Because of its capacity to give precise structural insights at atomic or near-atomic resolution, microED is gaining popularity in domains like pharmaceuticals, science of materials, and biological studies. When it comes to creating new materials and discovering new drugs, this is essential is another factor expected to contribute significant revenue share in the global microcrystal electron diffraction (MicroED) service market. Additionally, new innovations and applications are created through collaborations between universities, labs, and businesses in the MicroED service industry. Investments in research facilities also contribute to the expansion of the global microcrystal electron diffraction (MicroED) service market.
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Challenges:
The prime challenge is high startup cost and lack of expert individuals in developing countries, predicted to reduce the growth of the microcrystal electron diffraction (MicroED) service market. However, obtaining the electron microscope equipment required for MicroED requires a high initial expenditure. The operating costs, which include things like upkeep and the cost of specialized workers needed to execute the studies are factors expected to hamper the overall growth of the microcrystal electron diffraction (MicroED) service market over the coming years. Furthermore, because of their relative scarcity, microED services pose a significant barrier to entry for academic institutions lacking the resources or partnerships to make use of them. In emerging areas or among academics who aren’t familiar with the method, this can slow down the adoption of MicroED service market in the coming years.
Regional Trends:
The North American microcrystal electron diffraction (MicroED) service market is expected to register a large market revenue share and it will grow at a high CAGR in the near future. Because influential people and state-of-the-art research facilities are located there. Companies from all over the world have made their mark on the market, and mergers and acquisitions have helped shape the dynamic between them, which are factors expected to proliferate the growth of the microcrystal electron diffraction (MicroED) service market in the region. Besides, Europe had a considerable share in the market due to innovations in sample preparation, data collecting, and structural determination, which are driving forces in the market. Moreover, the existance of key market players and the expanding use of MicroED in industries such as pharmaceuticals and materials science, along with the robust research facilities in the area, are driving this expansion in the region and provide the opportunity for growth of the global microcrystal electron diffraction (MicroED) service market.
Recent Developments:
- In June 2023, Viva Biotech Ltd. And DP Technology Co., Ltd. joined forces to advance RNA-targeted small molecule drug discovery based on AI4S. This strategic partnership will allow them to fully utilize their respective resources and work closely together, taking advantage of the synergies and complementarities between their businesses and technologies.
- In August 2023, NanoImagingServices introduced new cryo-TEM services to assist in the characterization of biologics in a way that complies fully with GMP regulations. With the use of cryo-TEM services, biotech companies can learn more about the reliability and uniformity of their production processes and final goods. The level of detail that scientists can see and comprehend in their new goods is unmatched.
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Segmentation of Microcrystal Electron Diffraction (MicroED) Service Market-
Microcrystal Electron Diffraction (MicroED) Service Market By Type-
- Single Crystal Cultivation
- No Single Crystal Cultivation Required
Microcrystal Electron Diffraction (MicroED) Service Market By Application-
- Proteins
- Small Molecules
- Other
Microcrystal Electron Diffraction (MicroED) Service Market By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Details insights on this market: https://www.insightaceanalytic.com/report/microcrystal-electron-diffraction-microed-service-market/2331
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