The global microtome market is expected to reach USD 73.5 million by 2025
Growing awareness about early diagnosis of chronic diseases and increasing demand for technologically advanced diagnostic equipment are some of the key factors anticipated to drive the microtome market.
According to the estimates of Laboratory Economics, in 2012, over USD 20 billion was spent on laboratory mergers between 1996 and 2011. In 2011, approximately USD 3.5 billion was spent on laboratory mergers. Increasing worldwide geriatric population, growing healthcare expenditure, and rising patient awareness regarding early disease diagnosis are some of the key factors expected to propel the tissue diagnostics market. This, in turn, is likely to boost demand for tissue slicing equipment. However, reimbursement cuts and hospital consolidation are some of the factors expected to hamper growth.
Although the U.S. ranks first in terms of per capita healthcare spending, spending on clinical laboratories is significantly lower as compared to other healthcare aspects. Moreover, overall growth in the clinical laboratory market is majorly dependent on demographic factors, technological, medical, & scientific advancements, and disease burden specific to that region. Developed economies, such as the U.S., Germany, Japan, Canada, and France, have huge R&D budgets, higher technological advancements, and more awareness regarding various health aspects as compared to developing economies. This is likely to account for majority of the share in these regions.
Growing number of histopathology laboratories, high growth potential of anatomical pathology labs in emerging economies, and rising awareness regarding digital pathological systems are some key attributes that can provide new opportunities to players. Adoption rate of histology equipment is expected to gain substantial momentum owing to growing usage of technologically advanced
Further key findings from the report suggest:
The global microtome market size was estimated at USD 48.6 million in 2016 and is expected to grow at a CAGR of 4.6% from 2017 to 2025
The microtome devices segment emerged as the largest product segment in 2016
Microtome accessories such as blades, blade holders, and clamps is anticipated to witness fastest growth over the next eight years
The Asia Pacific region is anticipated to witness lucrative growth over the next decade. It is expected to grow at a CAGR of 9.2% over the forecast period
Some of the key players are LLS ROWIAK LaserLabSolutions GmbH; Leica Biosystems Nussloch GmbH; Sakura.; MEDITE GmbH; SLEE medical GmbH; Boeckeler Instruments, Inc.; Nanolytik; S.M. Scientific Instruments Pvt. Ltd.; MICROS Austria Produktions-und Handelsges.m.b.H; AGD Biomedicals (P) Ltd.; Alltion; Amos Scientific Pty Ltd; and Thermo Fisher Scientific