DUBLIN–(BUSINESS WIRE)–Nov 2, 2020–
The “Europe Microtome Market to 2027 – Country Analysis and Forecasts by Product (Microtome Instruments, Microtome Accessories); Technology (Manual Microtomes, Semi-automated Microtomes, Fully Automated Microtomes); End User (Hospitals, Clinical Laboratories, Other End Users)” report has been added to ResearchAndMarkets.com’s offering.
Europe microtome market is expected to reach US$ 58,738.7 thousand in 2027 from US$ 38,985.9 thousand in 2019. The market is predicted to grow with a CAGR of 5.4% from 2020-2027.
The growth of the Europe microtome market is estimated to grow due to critical factors such as the rising prevalence of cancer, and increasing adoption of digital pathology is expected to propel the growth of the market. Yet, the lack of skilled professionals is one of the major factors hindering the market growth.
Digital diagnosis has become a crucial aspect of the lab for surgical pathology. Nowadays, formalin-fixed paraffin-embedded (FFPE) slides are digitally scanned into high-resolution digital images. These are then viewed, analyzed, and shared with other pathologists for better diagnostic results. With the global number of new cancer cases expected to rise, pathology laboratories are looking for ways to meet the increased demand for their services.
This has directed to the increasing adoption of digital pathology that allows laboratories to work more efficiently. Digitalization in pathology labs has been increasing witnessed in the US and other developed countries over the last few years. Increasing technological advancements in digital pathology are further accelerating the growth of the market for microtomes. For instance, Tissue-Tek Auto Section automated microtome from Sakura Finetek offers the advantage of automation over manual microtomes.
Moreover, increasing the volume of routine tissue examinations is also increasing the demand for auto mated microtomes in the forecast period. To handle such a large sample size automated microtomes offer numerous benefits to pathologies such as high speed, improved efficiency, and reduces strain.
With the dawn of digitalization, the healthcare sector has undergone significant changes. Rising prevalence of chronic conditions is leading to clinical urgency, thereby increasing the adoption of digital pathology to improve existing inferior diagnostic methods. Clinical laboratories have been widely using microtome for diagnosis purposes. Thus, increasing the adoption of digital pathology drives the growth of the Europe microtome market in the forecast period.
Europe microtome market, based on the product, was segmented into microtome instrument and microtome accessories. In 2019, the microtome instrument segment held the highest share of the market. Furthermore, the corresponding segment is expected to grow at the fastest rate during the upcoming years.
Based on technology, the Europe microtome market was segmented into fully automated microtomes, semi-automated microtomes, and manual microtomes. In 2019, a fully automated microtomes segment held the largest share of the market. Further, the same segment is anticipated to grow at the fastest rate during the forecasted period.
Based on end user, the Europe microtome market was segmented into clinical laboratories, hospital, and other end users (pharma biotech, academic research, agriculture). In 2019, the clinical laboratories segment held the largest share of the market. Besides,