MICROTOMES MARKET ANALYSIS

The global microtomes market is estimated to be valued at US$ 162.9 million in 2023 and is expected to exhibit a CAGR of 6.6%  during the forecast period (2023-2030).

Analysts’ Views on Global Microtomes Market:

The increasing prevalence of cancer, rising geratic population, increasing awareness about Histopathology study and strategic efforts by prominent market competitors are favorably impacting the market growth. The increasing funding by key players for development of microtomes is expected to drive the microtomes market growth over the forecast period.

Figure 1. Global Microtomes Market Share (%), By Equipment Type (Instruments), 2023

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Global Microtomes Market– Driver

Advantages offered by microtomes in histopathology practices

Advantages offered by microtomes in histopathology practices is expected to drive the microtomes market growth. Microtomes are used in clinical and diagnostics research laboratories, and industrial labs to obtain routine paraffin sections and plastic embedded specimen, high quality sections with less fatigue, and to maintain the safety, reliability, and consistency of results. This has provided a robust opportunity for the manufacturers to develop innovative microtomes with advanced technologies. For instance,in June 2020, Kalstein France Laboratory equipment Manufacture and supplier in Paris, France launched microtome device with the advantages By more weight, it has more precision, it allows obtaining very thin serrated sections and The advance mechanism is more accurate.

increasing funding by key players for development of microtomes

increasing funding by key players for development of microtomes is expected to drive the microtomes market growth over the forecast period. For instance, in October 2022, Aquaro Histology, Inc., provides solutions that improve workflow efficiency, quality, and consistency in the histology lab in U.S. completed a Series A funding round of US$ 9.8 million led by Telegraph Hill Partners. This funding enabled Aquaro Histology Inc. to launch its Aquaro ASM (Automated Section Mounting). The new system facilitates hands-free microtomy in histology laboratories by transferring paraffin-embedded sections from the blade to slides. This system interfaces with existing motorized microtomes.

Figure 2. Global Microtomes Market Value (US$ Million), by Region, 2023

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Global Microtomes Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global microtomes market over the forecast period. North America is estimated to hold 37.6% of the market share in 2023. North America is emerging as the leading region for the microtomes market. Key market players are focusing on introduction of new instruments which will boost the market growth of microtomes market. For instance, in April 2020, Thermo Fisher Scientific Inc. is supplier of scientific instrumentation, reagents and consumables, and software services company based in U.S., introduced Special Purpose Entity (SPE) instrument for per-and polyfluoroalkyl substances (PFAS) analysis. A new instrument that fully automates sample preparation for the analysis of per- and polyfluoroalkyl substances (PFAS) in drinking water by Environmental Protection Agency (EPA) method 537.1 is designed to help laboratories overcome the challenges associated with current labor-intensive manual methods. These kinds of developments in the healthcare system and rising health expenditures, as well as increased knowledge of advanced Histopathology treatments, are fueling the microtomes market in North America.

Global Microtomes Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand for drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global microtomes market. The COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the number of cancer patients increased, and so has the drive microtomes market. For instance, according to an article published in February 2022, on PubMed Central, “COVID-19 and Cancer Cross talk: Emerging Association, Therapeutic Options and Challenges”, explained that the management of cancer patients in the COVID-19 context is a difficult task in and of itself. Even though online consultations are advisable with patients who are having stable cancer. Virtual care in cancer care existed in a limited fashion globally before the COVID-19 pandemic, mostly driven by geographic constraints. The pandemic has required dramatic shifts in health care delivery, including cancer care.

Global Microtomes Market Segmentation:

The global microtomes market report is segmented into Equipment Type, Technology/Interventions, Application, End User, and Region.

By Equipment Type, the market is segmented instruments (Rotary Microtome, Vibrating Microtome, Cryostat Microtome, Freezing Microtome, and Others) and  Accessories. Out of which, the Rotary Microtome segment is expected to hold a dominant position in the global microtomes market during the forecast period, and this is attributed to growing awareness of Histopathology study its helpful to diagnose the disease

By Technology/Interventions, the market is segmented into Fully Automated Microtomes, Semi-automated Microtomes, and Manual Microtomes. Out of which, the automated microtomes segment is expected to dominate the market over the forecast period, and this is attributed to increasing automation in the preparation of tissue samples for laboratory testing

By application, the market is segmented into Disease Diagnosis and Medical Research. Out of which, the Disease Diagnosis Segment is expected to dominate the market over the forecast period, and this is attributed to the increasing prevalence of cancer

By End User, the market is segmented into Hospitals, Ambulatory Surgical Centers, Research Centers, and Others. Out of which, the Hospitals Segment is expected to dominate the market over the forecast period, and this is attributed to the increasing expenditure of hospitals

Among all, the Equipment type Segment is expected to dominate the market over the forecast period, and this is attributed to the increasing technological advancement in market.

Global Microtomes Market Cross Sectional Analysis:

Key players are focusing on disease diagnosis with histopathology tests is also expected to boost demand Microtomes market in North America region. For instance, in March 2022, Myriad Genetics, Inc., a genetic testing and precision medicine company in the U.S., announced that the U.S. Food and Drug Administration (FDA) had approved Myriad’s BRACAnalysis CDx histology test for use as a companion diagnostic to identify patients with germline BRCA-mutated (gRBCAm) HER2 negative, high-risk early-stage breast cancer who may benefit from Lynparza.

Global Microtomes Market: Key Developments

On June 1, 2023, Myriad Genetics, Inc. is genetic testing and precision medicine company based in Salt Lake City, Utah, United States, launched new studies and expansion of its Precise Oncology Solutions portfolio at the 2023 American Society of Clinical Oncology (ASCO).

In May 2022, United Rheumatology, a rheumatology care management organization empowering rheumatologists to advance the standard of care and education, advocacy, and research organization for people living with cancer disease, announced a partnership with creaky joints  is a leading support, education, advocacy, and research organization for people living with arthritis and rheumatic disease to develop the Cancer Wellness Center, a digital resource aimed at aiding those living with cancer.

On March 22, 2023, F. Hoffmann-La Roche Ltd (Roche), a biotechnology company that develops drugs and diagnostics to treat major diseases, announced that it had entered into a collaboration with Eli Lilly and Company is pharmaceutical company headquartered in U.S., to support the development of Roche’s Elecsys Microtomes.

In March 2022, Invitae, a medical genetics company, announced full access to its Personalized Cancer Monitoring (PCMTM) platform to help detect minimal or molecular residual disease (MRD) in patients with solid tumors. Invitae PCM uses a novel set of personalized assays based on a patient's tumor to detect circulating tumor DNA (ctDNA) in blood, offering the ability to perform risk stratification, response assessment to treatment, and detection of cancer recurrence, based on recent studies.

Global Microtomes Market: Key Trends

key players operating in the market focusing on inorganic growth strategies to expand their product portfolio for microtomes

Major players in the market are focused on adopting partnership strategies to expand their product portfolio, there is no biochemical test available for the diagnosis of cancer. For instance, in March 2020, WorldCare Clinical, LLC, an independent Clinical reasearcg orgnisation (CRO) offering imaging in clinical trials, partnered with Navidea Biopharmaceuticals is in precision medicine with immuno-targeted products designed to help identify the sites and pathways of undetected disease and enable better diagnostic accuracy lab in U.S. to offer Diagnosing service following the U.S. FDA approval of Navidea’s RA diagnostic.

Global Microtomes Market: Restraint

High cost of microtomes

High cost of microtomes are expected to hinder the market growth. For instance, Leica Biosystems, a medical devices company in Germany, introduced Leica microtome is use for creating thin sections of specimens for use in routine and research laboratories in the fields of biology. Fully Automated Leica RM2255 rotary microtome ranges between US$ 6,900 to US$ 9,800, which is very expensive for emerging economies in the regions such as Latin America, Asia Pacific, Middle East, and Africa.

Key players are focusing on manufacturing of cost effective product.        

Global Microtomes Market - Key Players

Major players operating in the global microtomes market include Myriad Genetics, Inc., F. Hoffmann-La Roche AG, LLS ROWIAK LaserLabSolutions GmbH, Leica Biosystems Nussloch GmbH, MEDITE GmbH, Abbott Diagnostics (Abbott Laboratories) , SLEE medical GmbH, Boeckeler Instruments, 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.

*Definition: Microtome is a specialized machine that is designed for precision tissue sectioning purposes and cutting thin and uniform slices of biological samples obtained from plants and animals. It comprises specialized blades made from metal, glass, or diamond, which are chosen as per the different specimens and sample thicknesses. It also consists of a block holder, knife clamps, block adjustments, a thickness gauge, and an operating handle. It is commercially sold in numerous forms, such as hand-held, rotational, vibrating, sledge, cryostat, and ultramicrotome.