COVID-19 Outbreak Impact on Microtome Market By Size, Growth, Share, Technology (Manual, Semi-Automated Microtomes and Fully Automated Microtomes), Product (Instruments (Rotary Microtomes, Cryostat Microtomes, Vibrating Microtomes, Other Microtomes) Microtome Accessories), Application (Disease Diagnosis and Medical Research), Forecast till 2025
Microtome Market Analysis
The Global Microtome Market size is touted to reach a valuation of USD 120 million and is expected to exhibit a CAGR of 6.1% over the forecast period. Prevalence of chronic diseases is the primary driver of the market. Tissue samples are required in research laboratories for identifying the presence of cancerous cells in the body. According to the World Health Organization (WHO), close to 3.7 million cases of cancer are detected annually in Europe.
Microtomes are instruments used in the cutting of materials into thin slices known as sections. The accuracy of these sections can assist laboratories in determining and diagnosing the cause of the disease in biopsies. Market Research Future’s (MRFR) report on the global microtome market contains a summary of the drivers, restraints, trends, and opportunities for the period of 2019 to 2025 (forecast period).
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The growing numbers of the elderly and availability of new diagnostic techniques can fuel the growth opportunities of the global microtome market. Approvals of new products and subsequent launches can bode well for the market. For instance, Leica Biosystems added a new line of microtomes to its product offerings.
However, lack of skilled personnel in operating the equipment can hamper the market growth.
Microtome Market Segmentation
The global microtome market is segmented by product, technology, application, and end user.
By product, the global microtome market is bifurcated into two sub-segments, instruments and microtome accessories. Instruments comprise cryostat microtomes, vibrating microtomes, rotary microtomes, and other microtomes. The instruments segment is expected to hold the major market share owing to availability of these systems and their ease in handling. Within the instruments segment, cryostat microtomes are used in sectioning tissue samples free of ice crystal defects and operated in a deep freeze cabinet. Rotary microtomes hold the distinction of being heavier and stable than rocking microtomes and being able to cut serial sections. This segment can register the highest growth rate during the forecast period. Vibrating microtomes, on the other hand, are used in slicing sections of animals and plants.
By technology, the global microtome market is is segmented into manual, semi-automatic microtomes, and full-automatic microtomes. Full-automatic microtomes have held the market dominance owing to demand for systems with high precision.
By application, the microtome market is divided into medical research and disease diagnosis. The disease diagnosis segment accounted for the largest market share owing to increasing number of tissue examinations in hospitals and research laboratories. Benefits of early diagnosis of diseases at a preventive stage are expected to drive segment growth during the forecast period.
By end user, the microtome market is divided into diagnostic laboratories and hospital laboratories. Hospital laboratories are dominating the global microtome market. This can be attributed to huge volume of tissue examinations performed in hospital labs.
Microtome Market Regional Analysis
The Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA) are regions covered in the global microtome market.
The Americas is the largest microtome market share owing to presence of prominent market leaders, prevalence of cancer, need for biopsies, and a large patient population. This is buttressed by the report of National Cancer Institute which registered apparently 1,735,350 cases of cancer in the United States.
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Europe microtome market is estimated to exhibit a robust growth rate during the forecast period owing to demand for advanced diagnostic tools and presence of reputed players in the pharmaceutical industry. Initiatives by governments to encourage adoption of these tools can benefit the global microtome market greatly.
Microtome Market Competitive Outlook
Kronus, Biomérieux, Qualigen, Diasorin, Merck, Danaher, Abbott, Roche, Autobio Diagnostics, Diagnostic Automation/Cortez Diagnostics, and Thermo Fisher are prominent names in the global microtome market.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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