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.
The global Microtome Market is expected to reach USD 585 million by 2027 from USD 425 million in 2022, at a CAGR of 6.6% during the forecast period.
The growth of Microtome market is majorly driven by rising prevalence of cancer, growing demand for digital pathology, recommendations for cancer screening, availability of reimbursement. However, Lack of skilled professionals, and availability of refurbished products are some of the challenges for which may hinder the growth of Microtome market.
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Based on the product, the microtome market is segmented into Microtome Instruments: Rotary Microtomes, Cryostat Microtomes, Vibrating Microtomes, Other Microtomes, and Microtome Accessories. The microtome instruments segment is expected to dominate the microtome market. High expenditure on microtome instruments and their essential use in the histological diagnosis of various diseases are the key factors driving the growth of the automated microtome market.
Based on the North America region, the microtome market is devided into US and cananda. US is expected to dominate the microtome market. The high prevalence of cancer, coupled with the increasing demand for the early and effective diagnosis and treatment of cancer, is the key factor driving market growth in the US.
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Top Key Players:
The major players in the microtome market are 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)