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.
The rising prevalence of cancer and increasing adoption of digital pathology are the key factors fueling the market growth. Moreover, growing focus on personalized medicine is expected to foster the market growth during the forecast period. However, the lack of adoption of microtomes in low-income countries hinders the growth of the microtomemarket.
Microtome devices are used for sample preparation in laboratories. They are used to prepare thin slices of biological specimens into evenly thin sections for a detailed microscopic examination. A clear understanding of the structure of tissue samples is essential to understand the changes occurring in the tissue during disease progression. The rise in number of cancer cases, as well as increasing adoption of microtomes in histology labs, fuels the growth of the microtome market.
The global microtome market is segmented on the basis of product, technology, and end user. Based on product, the market is segmented into microtome instruments and microtome accessories. The microtome instruments segment held largest larger share of the market in 2019; moreover, the market for this segment is anticipated to grow at a higher CAGR during the forecast period. Based on technology, the market is subsegmented into manual microtomes, semi-automated microtomes, and fully automated microtomes. Fully automated microtomes held the largest share of the market in 2019, and it is estimated to register the highest CAGR during the forecast period. Based on end user, the microtome market is segmented into hospital, clinical laboratories, and other end users. The clinical laboratories segment held the largest share of the market in 2019; however, the market for other end users is estimated to grow at the fastest CAGR during 2020-2027.
The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and Medical Device Manufacturers Association (MDMA) are a few of the essential primary and secondary sources studies while preparing this report.