PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401829
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401829
Microtome Market size was valued at USD 430 Million in 2022, expanding at a CAGR of 7.1% from 2023 to 2030.
A microtome is a precision instrument used in laboratories and pathology to cut extremely thin slices of materials, typically biological specimens or materials embedded in wax or resin, for microscopic examination. It allows scientists, pathologists, and researchers to obtain thin, uniform sections of tissues or other samples for detailed analysis under a microscope. These thin sections are crucial for various scientific investigations, medical diagnoses, and research purposes across different fields such as biology, medicine, and materials science.
Microtome Market- Market Dynamics
Increased prevalence of chronic diseases, the expanding elderly population, and escalating healthcare spending to propel market demand
The market's momentum primarily stems from the increased prevalence of chronic diseases, the expanding elderly population, and escalating healthcare spending, notably in developed nations. The World Health Organization (WHO) projects that by 2030, one in six individuals globally will be aged 60 or above, with an estimated 1.4 billion people surpassing this age bracket, up from one billion in 2020. Notably, the rise in diagnostic technologies' accessibility in developed economies, like the U.S., driving the majority of revenue, stands as a pivotal factor fostering market expansion. The surge in chronic diseases, particularly cancer incidences demanding essential biopsy procedures, is a significant growth driver for microtome usage. In 2020 alone, there were 18.1 million new cancer cases worldwide, with breast, lung, colon, rectum, and prostate cancers being the most prevalent types. The U.S.'s Cleveland Clinic reports that over a million breast biopsies are conducted annually.
Microtome Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.1% over the forecast period (2023-2030)
Based on Product Type segmentation, microtome devices was predicted to show maximum market share in the year 2022
Based on technology segmentation, fully automated systems was the leading type in 2022
On the basis of region, North America was the leading revenue generator in 2022
The Global Microtome Market is segmented on the basis of Product Type, Technology, End Users, and Region.
The market is divided into two categories based on product type: microtome devices and accessories. Microtome devices held a substantial market share in 2022, predominantly due to the commercial availability of these systems and their widespread adoption, facilitated by their ease of use. Some prominent products in this category include Sakura Finetek EVO 9000, Leica RM2235, HM 525, and A550.
The market is divided into three categories based on technology: fully automated, semi-automated, and manual devices. Fully automated systems dominated the market in 2022 and expected to experience rapid growth over the forecast period. This surge is attributed to the escalating demand for cutting-edge products, especially in developed economies like the U.S., Germany, France, and Japan. Fully automated devices are recognized for their accuracy and enhanced throughput time. Notably, Sakura introduced the Tissue-Tek Genie in September 2022, offering optimized slides with expedited turnaround times and uniform staining quality across the entire Sakura antibody line.
Microtome Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Within the Microtome Market, companies employ varied strategies to maintain their dominant positions in the market such as innovation, emphasizing the development of advanced microtome technologies that enhance precision, speed, and efficiency in sample preparation within histology and pathology laboratories. Significant investments in research and development drive the introduction of sophisticated features, including automated sectioning, enhanced blade technology, and user-friendly interfaces. Major market players concentrate on adopting growth strategies such as mergers and acquisitions, refining existing devices, conducting promotional events, and advancing technologies.
In April 2018, Thermo Fisher and Leica initiated a technical collaboration aimed at establishing an integrated cryo-tomography workflow for life sciences. This collaboration intends to seamlessly integrate Leica light microscopes with Thermo Fisher cryo-electron microscopes via a comprehensive hardware and software solution. This integration aims to provide researchers and scientists with expedited insights into the origins of diseases and hasten scientific discoveries.
The scope of this report covers the market by its major segments, which include as follows: