The global Microtome market size was estimated at USD 427 million in 2022 and is expected to surpass around USD 615 million by 2030 and poised to grow at a compound annual growth rate (CAGR) of 9.6% during the forecast period 2022 to 2030. The expansion of this market is majorly due to rising prevalence of oncology cases as well as high demand of cancer screening, However, Lack of skilled professionals is one of the challenge for which may inhibit the growth of this market.
COVID -19 Impact On Microtome Market.
Globally, Globally, the COVID-19 outbreak has impacted every aspect of the pharmaceutical, diagnostics, and medical industry, including the microtome market.
COVID-19 positively impacted the market due to a growing demand for high-throughput, sequencing-based diagnostic tests. For instance, Brooks Automation’s life science segment reported USD 199.6 million in revenue in 2021 compared to USD 129.8 million in 2020, with an increase of USD 69.8 million (54%). However, histopathology diagnostic services such as autopsy, screening services, teaching, training, and quality assurance were negatively impacted by COVID-19. The pre-analytic phase majorly involves the handling of biological material such as fresh tissue, frozen sections, formalin-fixed tissue, and organs of varying sizes. These tissues were considered a possible transmission route for SARS-CoV-2. As a result, certain guidelines were made for fresh tissue handling by RCPath (Royal College of Pathologists), ABPath (Association of Breast Surgery and Pathology), and BAGP (British Association of Gynecological Pathologists).
Research associations and other medical bodies are making various attempts to conduct clinical trials to develop suitable anti-COVID-19 drugs or testing devices, which is anticipated to fuel the growth of the microtome market.
The closure of manufacturing facilities disrupted supply chains and reduced recruitments. For instance, in the UK, universities, sponsors, charities, NHS institutions, and the NIHR Clinical Research Network decided to stop all non-COVID-19 related research in March 2020 and to pause the setup of new trials. In the 2022 recovery phase, restoring clinical trials will be a challenge because of restricted access at trial sites. Hence, the further delay in clinical trials might impact the growth of the overall microtome market in 2022.
Report Scope of the Microtome Market
Global Microtome’s Dynamics
DRIVER:
Cancer is a complex disease that develops through the multi-stage carcinogenesis process involving multiple pathways. As a result, there are various hurdles associated with cancer diagnosis, prognosis, and therapy. Cancer is the second-leading cause of death worldwide and accounted for 10 million deaths in 2020. Globally, about 1 in 6 deaths occur due to cancer (Source: WHO). In 2020, 19.3 million new cancer cases were reported, and this figure is expected to increase to 30.2 million by 2040. This increase in the incidence of cancer can be attributed to the growing geriatric (according to the World Population Ageing 2020 report, the global population aged 65 years and above was 727 million in 2020 and is expected to double by 2050 to reach 1.5 billion) as well as the total population.
Due to the increasing prevalence of cancer, the demand for oncology diagnostics has increased significantly. This has compelled government organizations as well as healthcare providers and institutions to provide facilities for effective disease diagnosis and treatment. This is driving the demand for microtomes. During the frozen section procedure, surgeons remove a portion of the tissue. This biopsy is given to pathologists who freeze the tissue in a cryostat machine, cut it with a microtome, and stain it with various dyes so that it can be examined under a microscope. Similarly, histopathology is the microscopic study of the diseased tissue and is a vital part of anatomical pathology since the accurate diagnosis of cancer and other diseases usually requires the histopathological examination of samples. Microtomes are a key tool used in anatomical pathology examinations.
OPPORTUNITY:
Precision medicine is an evolving approach to disease treatment and prevention that considers individual variability in genes, environments, and lifestyles. Precision medicine involves selecting drugs wholly tailored to a patient based on disease condition and history. Although this practice is expanding into all disease areas, oncology has seen the most progress.
In the last decade, key stakeholders in the pharmaceutical and biotechnology industries have invested significantly in the development of personalized medicine. Key pharmaceutical companies such as AstraZeneca have confirmed that approximately 90% of their clinical development revenue is currently obtained by precision therapeutics. Some of the leading pharmaceutical companies involved in precision medicine development include Novartis, Roche, Genentech, AstraZeneca, Pfizer, BMS, Merck, and Amgen.
By 2030, the personalized medicine sector is expected to reach ~USD 99 billion. With the rising focus on the development of personalized medicine, the number of personalized medications available in the market has steadily increased, and this trend is expected to continue in the coming years. For instance, the number of personalized medicines in the US market has grown from 139 in 2017 to 289 in 2021.
For the development of personalized medicine, pathology data is required to prescribe the right therapy at the right time. Microtomes offer specimen slide diagnosis, which is helpful in detecting cancer cells and enabling early diagnosis. Thus, the increasing focus on personalized medicine is positively impacting the growth of the microtome market.
CHALLENGE:
Histology laboratories play a vital role in healthcare, as histology is important for the accuracy, safety, and timeliness of disease diagnosis. Also, histology is essential in gaining a better understanding of disease mechanisms and the effects of drugs on tissues. The demand for histology services has increased significantly for clinical applications due to the increasing prevalence of cancer. Histopathology technologies account for more than 80% of the tests performed on cancer patients. However, there is a dearth of trained staff in these laboratories. For instance, as per an article published in The Pathologist in 2020, in the UK, only 3% of diagnostic laboratories had sufficient staff to deliver their diagnostic as well as routine tasks (such as reporting workload). A large number of histologists have reached retirement age, and fewer histologists are being trained. As a result, histology laboratories are under pressure to process an increasing number of specimens with limited staff. This is expected to hamper the growth of the microtome market.
“Disease Diagnosis in the end user segment to witness the highest shares during the forecast period.”
Based on the application, the microtome market is segmented into Disease Diagnosis and Medical Research. The Disease Diagnosis segment is expected to dominate the microtome market. The rapid growth in the geriatric population and the increasing diagnosis of highly prevalent chronic diseases such as cancer and cardiac diseases are the key factors driving the growth of the microtome market.
North America dominates the global microtome market
Based on the region, the microtome market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to dominate the microtome market. Growth in the North American market is mainly driven by The easy accessibility to advanced technologies, growing opportunities for advanced cancer diagnostic testing and screening, favorable reimbursement scenario for anatomic pathology diagnostic tests, increasing healthcare expenditure, and the presence of high-quality infrastructure for hospitals and clinical laboratories in the region are the key factors driving the growth of the microtome market in North America.
Some of the prominent players in the Microtome Market include: Danaher Corporation (US), PHC holdings corporation (Japan), Cardinal Health (US), Boeckeler Instruments, Inc (US), SM Scientific Instruments Pvt. Ltd. (India), Bright Instruments (UK), Sakura Finetek USA, Inc (US), Jinhua Yidi Medical Equipment Co., Ltd (China), Ted Pella, Inc (US), Medimeas (India), SLEE medical GmbH (Germany), Histo-Line Laboratories (Italy), microTec Laborgeräte GmbH (Germany), MEDITE Medical GmbH (Germany), Erma Inc. (Japan)
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Microtome market
- Rotary Microtome
- Vibrating Microtome
- Other Microtome
- Accessories
- Technology
- Fully Automated
- Semiautomated
- Manual
· Application
· Disease Diagnosis
· Medical Research
· End-user
· Hospital Laboratories
· Clinical Laboratories
· Other End Users
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Points Covered in Microtome Market Study:
- Growth of Microtome in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Microtome and How to Navigate
- Key Product Innovations and Regulatory Climate
- Microtome Consumption Analysis
- Microtome Production Analysis
- Microtome and Management
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