Outlook on the Microtome Global Market to 2028 - Growth of Precision Medicine is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Microtome Market Size, Share & Industry Trends Analysis Report By Product (Instruments and Accessories), By Technology, By Application (Disease Diagnosis and Medical Research), By End-user, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The Global Microtome Market size is expected to reach $605.5 million by 2028, rising at a market growth of 6.4% CAGR during the forecast period.

The instrument segment acquired the highest revenue share in the microtomes market in 2021. Rotary microtome, vibrating microtome, and cryostat microtomes are the types of microtome instruments. These instruments are in demand because of their use in hospitals and clinical laboratories. They are extremely useful for diagnosis purposes and that has led to their high demand.

In laboratories, a microtome is sample preparation equipment. Microtomes are used to slice a sample into thin slices that are then processed for examination under microscopes. Samples were manually prepared using knives and razors prior to the development of microtomes. The manual approach, on the other hand, has a limitation in terms of slice thickness.

Microtomes allow for the production of samples with a thickness of up to 10 nano microns. An electron microscope can be used to examine such a sample. Body, knife & knife attachment, and material- or tissue-holder are the three essential components of today's microtomes.

According to the GLOBOCAN 2020, there were around 19.3 million new cancer cases recorded in 2020, with the number of deaths reaching 10.0 million. The number of global cancer cases is expected to reach 28.4 million annually by 2040. Increased cancer incidence and increased awareness of early diagnostic methods are two important variables that are expected to raise the usage rate.

Furthermore, rising health consciousness among the general public, as well as increased awareness of the benefits of early identification of such disorders, are propelling the market forward. Other growth-inducing elements include numerous product breakthroughs, such as the creation of laser microtomes that use photons and laser beams to cut through tissues.

They allow for precise and repeatable high-quality sectioning while preserving the biological features of the tissues. Other reasons, such as the growing senior population, which is more prone to chronic diseases, as well as significant advances in healthcare infrastructure, particularly in developing nations, are expected to propel the market forward.

Market Growth Factors

Rise in Cancer Incidents

Cancer is a multi-stage carcinogenesis process involving several pathways that develops into a complex disease. As a result, cancer diagnosis, prognosis, and treatment face a number of challenges. Cancer is the world's second-biggest cause of death, with 10 million fatalities expected in 2020. Cancer is responsible for around 1 in every 6 deaths worldwide.

19.3 million new cancer cases were reported in 2020, with that number predicted to rise to 30.2 million by 2040. The expanding geriatric (according to the World Population Ageing 2020 study, the world population aged 65 and over was 727 million in 2020 and is anticipated to double by 2050 to reach 1.5 billion), as well as the total population, can be related to the increase in cancer incidence.

Growth of Precision Medicine

Precision medicine is a growing field of medicine that takes into account individual differences in genes, surroundings, and lifestyles when treating and preventing diseases. Precision medicine is picking treatments that are completely suited to a patient's ailment and medical history. Oncology has experienced the most development, despite the fact that this technique is extending into all disease areas.

The pharmaceutical and biotechnology companies have made major investments in the development of customized medicine during the last decade. Precision medicines presently account for a significant percentage of clinical development income for major pharmaceutical companies like AstraZeneca.

Market Restraining Factors

High Maintenance and Lack of Affordability in Developing Regions

From time to time, the machine must be completely defrosted. Reaction to fixation is slow. It cannot be used on tissues that have been repaired. If the tissue demands a lower temperature than the machine's specified temperature, this feature is useless. The accuracy of morphological details is reduced. Pigmentation is far too noticeable. To the microtomist, dermatitis of the hand and irritation of the nose.

Additionally, another big factor restraining the growth of the microtome market is the lack of funding in healthcare in developing and under-developed nations. Unlike, developed countries, where the government spends a fortune on modernizing healthcare and provides citizens with reimbursements, developing cannot afford to do this.

Scope of the Study

Market Segments Covered in the Report:

By Product

• Instruments
• Rotary
• Cryostat
• Vibrating
• Others
• Accessories

By Technology

• Fully Automated
• Semi-automated
• Manual

By Application

• Disease Diagnosis
• Medical Research

By End User

• Hospital Laboratories
• Clinical Laboratories
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Key Market Players

• Danaher Corporation
• Cardinal Health, Inc.
• PHC Holdings Corporation
• Boeckeler Instruments, Inc.
• Bright Instruments Limited
• Erma, Inc.
• Histo-line Laboratories
• microTec Laborgerate GmbH
• MEDITE Medical GmbH
• Sakura Finetek USA, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/65naw5

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