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“High prevalence of cancer, growing demand for digital pathology, and increasing healthcare expenditure are expected to drive the overall growth of the microtomes market”
The microtomes market is expected to reach USD 177 million by 2024 from USD 129 million in 2019, at a CAGR of 6.5% during the forecast period. This market is experiencing significant growth due to the growing demand for digital pathology, high prevalence of cancer, and increasing healthcare expenditure. Also, the increasing focus on personalized medicine and the emerging economies are offering growth opportunities for players in the microtomes market. However, a lack of skilled professionals to operate microtomes is expected to restrain the growth of this market during the forecast period.
“Disease diagnosis is expected to dominate the market during the forecast period.”
Based on application, the microtomes market is segmented into disease diagnosis and medical research. Disease diagnosis accounted for the larger market share in 2018, as compared to other segments. Growth in the geriatric population and the increasing incidences of cancer and other chronic diseases are the factors contributing to the larger market share.
“Hospital laboratories to witness the highest growth in microtomes market, by the end-user, in 2018
Based on end-user, the microtomes market is segmented into clinical laboratories, hospital laboratories, and other end users. The hospital laboratories segment accounted for the largest market share in 2018 as well as the highest CAGR during the forecast period. The large share and the highest growth of the hospital laboratories segment are attributed to the increasing number of patient visits to hospitals, rising number of in-house clinical diagnostic procedures performed in hospitals, growing awareness regarding early diagnosis, and the availability of reimbursements in developed markets for clinical tests performed in hospitals.
“North America to dominate the market during the forecast period”
Geographically, the microtomes market is segmented into North America, Europe, the Asia Pacific, and Rest of the World. In 2018, North America accounted for the largest share of the microtomes market. Growing opportunities for advanced cancer diagnostic testing and screening, the easy accessibility to advanced technologies, favorable reimbursement scenario for anatomic pathology diagnostic tests, increasing healthcare expenditure, and the presence of high-quality infrastructure for hospitals and clinical laboratories in the region are the major factors driving the growth of the microtomes market in North America.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type -Tier 1: 36%, Tier 2: 45%,and Tier 3: 19%
- By Designation - C-level:33%, D-level:40%, and Others:27%
- By Region - North America:36%, Europe:28%, Asia Pacific:19%, Rest of the World: 17%
List of Companies Profiled in the Report
- Thermo Fisher Scientific (US)
- Danaher Corporation (US)
- Diapath S.P.A.
- Sakura Finetek (Japan)
- SLEE Medical GmbH (Germany)
- MEDITE GmbH (Germany)
- Histo-Line Laboratories (Italy)
- Amos Scientific (Australia)
- RMC Boeckeler, Diapath S.p.A. (Italy)
- Jinhua YIDI Medical Appliance (China)
This report provides a detailed picture of the global microtomes market. It aims at estimating the size and future growth potential of the market across different segments, such as product,technology, application, end-user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall microtomes market and its sub segments.It will also help stakeholders better understand the competitive landscape and gain more insights to position their business better and make suitable go-to-market strategies. This report will enable stakeholders to understand the pulse of the market and provide them with information on the key market drivers, restraints, and opportunities.