Microtome Market

Global Microtome Market Size (2023 to 2028)

The size of the global microtome market is forecasted to be growing at a CAGR of 6.02% from 2023 to 2028 and worth USD 162.60 million by 2028 from USD 121.39 million in 2023.

A microtome is a sample preparation device used in laboratories. Biological specimens are carved into uniformly thin sections for microscopic observation using these devices. Microtomy is the process of cutting thin tissue sections, and a microtome is a high-precision tissue sectioning tool. It is used to extract a thin tissue section and analyze it under a microscope in histological and pathological experiments. The accurate and thin tissue sectioning aids in the proper detection of severe disease.

Some sick tissues are tough to assess and necessitate careful dissection. As a result, microtome equipment is employed to slice biological specimens into uniformly thin pieces for microscopic analysis. Histology has been moving toward automation in recent years. Automation will be required to reduce personnel because of the increased demand for microtomes in pathology, histology, textiles, and other industries. In light microscopy, histology, spectroscopy, electron microscopy, and botanical microtomy, sectioning with an autonomous microtome offers many rapid features for study and analysis.

Impact of COVID-19 on the global microtome market:

COVID-19 disease began to spread worldwide in the early years of 2021, infecting millions of people globally, prompting significant countries worldwide to implement foot prohibitions and work stoppage orders. This can be attributed to severe disruptions in their respective manufacturing and supply-chain operations due to various precautionary lockdowns and other limitations imposed by governments all over the world. The global microtome market is no exception. Furthermore, consumer demand has reduced as people are now more focused on eliminating non-essential expenses from their budgets as the general economic position of most people has been negatively impacted by this outbreak. Thus, COVID-19 has a significant impact on the industry and the global economy, in addition to having substantial public health concerns. As the epidemic progresses, organizations must rethink and rearrange their working modules to accommodate new environments. Many industries throughout the world have effectively deployed emergency management plans.

MARKET DRIVERS:

Increased awareness of the early diagnosis of chronic diseases and growing demand for technically improved diagnostic equipment are primarily promoting the growth rate of the global microtome market.

One of the key factors expected to increase development is the increasing commercial availability of high-quality diagnostic technology in developed nations, which account for the majority of revenue. Furthermore, diagnostic equipment makers frequently locate their operations in countries with large domestic markets, such as Brazil, India, and China. In addition, the incidence of chronic diseases such as cancer and an increase in the senior population are both driving the market growth.

The global microtome market is further expected to accelerate as the world's senior population grows and healthcare expenditures rise. In the growing market, an increase in the number of histopathology laboratories and the deployment of automated instruments is likely to give potential opportunities. Furthermore, advances in microscopy-based diagnostic tools have prompted a surge in demand for more accurate sample preparation machines as ultra-microtomes, often known as ultra-times. In addition, there has been a trend of diagnostic laboratory consolidation, which is driving demand for automation and high-throughput technologies.

MARKET RESTRAINTS:

Hospital consolidation and reimbursement reduction are two significant factors limiting the growth rate of the global microtome market. In addition, low-income countries' lack of microtome adoption restricts the market's growth and expansion. Concerns about a lack of experience among the general public about the operation of these devices are also expected to challenge the microtome market's development.

REPORT COVERAGE:

This research report on the global microtome market has been segmented and sub-segmented based on product, technology, end-user & region.

Microtome Market – By Technology:

• Manual Microtomes
• Semi-Automated Microtomes
• Fully Automated Microtomes

Due to rising demand for technologically advanced products, particularly in developed nations, the fully automated microtomes segment represented the most significant market share in 2020. Furthermore, commercially available fully automated systems and increasing demand for the digitization of tissue diagnostic processes are essential factors driving the market for this category forward. Tissue-Tek Auto Section Automated Microtome and PT-PC Power Tomes are two examples of automated products. Furthermore, the segment is expected to grow at the fastest rate over the forecast period.

Microtome Market – By Product:

• Microtome Instruments
  • Rotary Microtomes
  • Cryostat Microtomes
  • Vibrating Microtomes
  • Other Microtome Instruments
• Microtome Accessories

The microtome instruments segment had a larger share in the global microtome market in 2020. A microtome cuts sections from a block of implanted tissue with extreme precision. To segment paraffin-embedded tissues, a variety of microtomes are employed. For research and diagnostic applications, microtomes and cryostats cut homogenous pieces of tissues. Microtomes with advanced versions can cut sections with thicknesses ranging from 0.1 m to 100 m. Microtomes come in various sizes, including revolving, freezing, sliding, ultra, and laser microtomes. As a result, the segmental market is growing due to a wide range of microtomes for various pathological applications.

Microtome Market – By End-user:

• Hospitals
• Clinical Laboratories
• Other End Users

In 2020, the clinical laboratories segment led the global microtome market; however, the market for other end users is expected to increase at the fastest CAGR over the forecast period. The increasing incidence of chronic diseases and rising awareness about the necessity of early diagnosis, especially in low-income nations, are driving this segment's rise. In addition, as the need for healthcare rises, the microtome market for clinical laboratories is predicted to expand rapidly during the forecast period.

Microtome Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

In 2020, the worldwide microtome market was dominated by North America. The region's high cancer prevalence, the presence of high-quality infrastructure for hospitals and clinical laboratories, and the presence of well-established market participants are significant factors projected to fuel the market's expansion. However, even though the United States has the highest per capita healthcare spending, spending on clinical laboratories is much lower when compared to other parts of healthcare. Furthermore, the clinical laboratory market's overall growth is heavily influenced by demographic factors, technical, medical, scientific advancements, and disease burden in that region.

The Asia-Pacific region is expected to see a significant increase in per capita income growth. Furthermore, the expansion of the medical tourism market is expected to boost the microtome market in the region in the near future. In addition, microtome has been routinely used in clinical laboratories for diagnosis. As a result, the Asia Pacific microtome market is expected to rise throughout the forecast period as more people use digital pathology.

KEY MARKET PLAYERS:

SLEE Medical, Histo-Line Laboratories, BMS Microscopes, Thermo Fisher Scientific, Auxilab, Orion Medic, Medite, TBS, MICROS, Bright Instruments, MicroTec, Amos Scientific, Boeckeler Instruments, Lupetec, Zenith Lab, Medimeas Instruments, AGD Biomedicals, Scientific Instruments, and Ana-Med are some of the prominent companies operating in the global microtome market.

RECENT MARKET DEVELOPMENTS:

• PHC Holdings Corporation acquired Thermo Fisher Scientific's anatomical pathology business in 2019. Thermo Fisher's Specialty Diagnostics Sector was responsible for it.