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Microtome Market Rising Prevalence of Cancer

08-12-2020 02:24 PM CET | Health & Medicine

Press release from: The Insight Partners

Microtome

Microtome

Microtome is a device used for sample preparation in laboratories. The devices are used to slice biological specimens into evenly thin sections for a detailed microscopic examination. The microtome market is expected to witness huge growth during the forecast period on the back of the rising prevalence of cancer and increasing adoption of digital pathology. Moreover, growing focus on personalized medicine is further expected to foster the market growth in the coming years. However, the lack of adoption of microtome in low-income countries limits the growth of the market.

The microtome market was valued at US$ 132.6 million in 2019 and is projected to reach US$ 204.3 million by 2027; it is expected to grow at a CAGR of 5.7% from 2020 to 2027.

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The growth of the microtome market is attributed to factors such as rising prevalence of cancer and increasing adoption of digital pathology. However, the lack of adoption of microtomes in low-income countries restrains the growth of the market. PHC Holdings Corporation, MEDITE Medical GmbH, Sakura Finetek USA, Inc., Leica Biosystems Nussloch GmbH (Danaher), Histo-Line Laboratories, SLEE medical GmbH, Diapath S.p.A., Amos Scientific Pty Ltd, Boeckeler Instruments, Inc., and SM Scientific Instruments Pvt. Ltd are among the leading companies operating in the global microtome market.

Based on product, the microtome market is segmented into microtome instruments and microtome accessories. The microtome instruments segment held a larger share of the market in 2019. A microtome instrument precisely slices sections from a block of embedded tissue. A variety of microtomes are used to section paraffin-embedded tissues. Microtomes and cryostats cut uniform sections of tissues for research and diagnostic purposes. Advanced versions of microtomes can cut the sections of thickness ranging from 0.1 μm to 100 μm. These devices are available in various forms, such as rotating, freezing, sliding, ultra, and laser microtomes. Therefore, the availability of a wide range of microtomes for different applications in pathology is driving the segmental market growth.

Cancer is one of the leading causes of death worldwide, and its rising prevalence is increasing the number of histopathology tests. A tissue pathology examination is required for the diagnosis of a malignant tumor to predict the onset of cancer. As per the WHO, an estimated 9.6 million deaths were caused by cancer in 2018. Increasing incidences of cancer and growing awareness regarding early diagnostic procedures are anticipated to boost the adoption rate of microtomes during the forecast period. Analysis of biopsy tissues helps pathologists in determining cancer type, stage, and the degree of disease spread. Moreover, growing awareness programs undertaken by organizations such as National Cervical Cancer Coalition, World Health Organization (WHO), and the Centers for Disease Control and Prevention (CDC) for cancer screening is further driving the market growth. For instance, the National Health Service (NHS) offers cervical screening programs for all women between 25 and 64 years of age in the UK.

Also, Cancer Council Australia has recommended mammography as screening tool for the early detection of breast cancer. The screening program-BreastScreen Australia-allows women aged 50-74 to get free mammograms in every two years. As per the BreastScreen Australia, over 1.8 million women aged 50-74 participated in the screening program in 2017-2018. Thus, the aforementioned factors have led to an increased adoption of histopathology and tissue sectioning instruments, in turn, propelling the market growth.

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Based on technology, the microtome market is segmented into manual microtomes, semi-automated microtomes, and fully automated microtomes. The fully automated microtomes segment held the largest share of the market in 2019 owing to growing demand for technologically advanced products, especially in developed economies. Additionally, the presence of commercially available fully automated systems and increasing preference for the digitalization of tissue diagnostic procedures are crucial factors boosting the growth of the market for this segment. A few of the automated products are Tissue-Tek Auto Section Automated Microtome and PT-PC Power Tomes. Further, the segment is anticipated to register the highest CAGR during the forecast period.

Based on end user, the microtome market is segmented into hospitals, clinical laboratories, and other end users. The clinical laboratories segment held the largest share of the market in 2019; however, the market or other end users is anticipated to grow at the highest CAGR during the forecast period. The growth of the market for this segment is attributed to the increasing number of chronic diseases and rising awareness about the importance of early diagnosis, especially in low-income countries. Furthermore, as the demand for healthcare is increasing, the microtome market for the clinical laboratory segment is also expected to grow significantly in the coming years.

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