Global Microtome Market is expected to grow at a CAGR of 6.7% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Microtome Market by Product Type (Accessories, Instruments (Rotary, Cryostat)), Technology (Fully Automated, Semi-automated, Manual), Application (Disease Diagnosis, Medical Research), End User (Hospital, Clinical Laboratories), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global microtome market is expected to grow from USD 130 million in 2019 to USD 218.4 million by 2027, at a CAGR of 6.7% during the forecast period 2020-2027. North America is expected to dominate the market during the forecast period. The growth can be attributed to advanced healthcare infrastructure and widespread adoption of technologically advanced products. The massive investments by the government and private sector in several diagnostic procedures are expected to fuel the market growth. The increasing geriatric population and rising incidences of cancer in the region will contribute to the growth of the market. The presence of a large number of players in the region is giving rise to new product launches and boosting the market growth. Asia-Pacific region is expected to witness the highest growth rate during the forecast period. An increase in the levels of income, substantial investments in the healthcare sector, and increasing awareness among the population about the merits of early diagnosis are expected to drive the market growth.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Some of the leading players of the market include Danaher, Thermo Fisher Scientific, Sakura Finitek Japan, SLEE medical, MEDITE Cancer Diagnostics, RMC Boeckeler, Alltion, AGD Biomedicals, Amos Scientific, Leica Biosystems Nussloch, and Histo Line Laboratories. The major strategies adopted by the players include product innovation, new product launches, partnerships, and mergers and acquisitions for expansion of market share.
This study delivers a comprehensive analysis of product type, technology, application, end-user, and regions. On the basis of product type, the market can be divided into accessories and instruments. The instruments segment can be further subdivided into rotary and cryostat. The instruments segment and the rotary subsegment is expected to dominate the market and witness the highest growth rate during the forecast period. The easy adaptability and ability to cut thin slices of sample is expected to drive the market growth. On the basis of technology, the market can be divided into fully automated, semi-automated, and manual. The fully automated technology is expected to show the highest growth rate during the forecast period. The rising demand for digitalisation of tissue diagnostic is expected to drive the market growth. The demand for technologically upgraded products in the developed economies is increasing, contributing to the market growth. On the basis of application, the market can be divided into disease diagnosis and medical research. On the basis of end-user, the market can be divided into hospitals and clinical laboratories.
The rising prevalence of chronic diseases like cancer and increasing healthcare expenditure by the population is expected to drive the market growth. The technological advancements of microtomes will improve the accuracy of the sample study and increase the demand for the product. The prevalence of cytological studies for cancer detection by using tissue samples is rising, contributing to the growth of the market.
About the report:
The global microtome market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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