The size of the European microtome market is projected to exhibit a CAGR of 5.21% from 2023 to 2028 and be worth USD 44.40 million by 2028 from USD 34.45 million in 2023.
The growth of the European microtome market is expected to grow owing to critical factors such as the increasing prevalence of cancer, improving knowledge of early diagnostic procedures, and the growing adoption of digital pathology is expected to drive the market growth. According to data from the World Cancer Observatory (WHO), the expected 448,888 cancers were diagnosed in 2019 in the UK, with nearly 179,000 deaths due to cancer complications in 2018. In Germany, approximately 609,000 people were diagnosed with cancers in 2018, while around 248,000 cancer deaths were recorded in the German population. The cancer prevalence rate is increasing at a high rate across the globe. One in two men and one in three women will be diagnosed with cancer by the age of 80. In 2016, 386,000 new cancer cases were recorded in France. Nearly 222,000 new cases were reported for males, whereas approximately 177,000 new cases were recorded in women. In addition, cancer awareness programs initiated by the government and non-government organizations are focusing on screening and diagnosis of cancer at an early stage to give a better prognosis to patients. For example, the National Health Service (NHS) provides cervical screening programs for all women aged 25 to 64 in the UK. The factors mentioned above are expected to drive the growth of the European microtome market over the next few years.
In addition, factors responsible for the market growth include the increased rate of microtome adoption and growing demand in the research and development in oncology. With the dawn of digitalization and the increasing prevalence of chronic diseases, there is a demand for better diagnostics to avoid medical error, improve treatment options, and study precision medicine. Digitization in pathology laboratories has been observed increasingly in many developed countries in recent years. Formalin-fixed slides are scanned under a high-resolution microscope, and these images are visualized, analyzed, and stored for future use. Today, many laboratories store biopsy reports to help with analysis in case of recurrent cancer during their three or five years follow; this storage has greatly helped many people over the past several years. Automated microtomes offer many pathological advantages such as high speed, improved efficiency, and reduced strain. Advancements in digital microscopy and pathology and their adoption will further accelerate the growth of the European microtome market.
However, the shortage of adequate reimbursement policies for these devices, the absence of reimbursement policies for detailed biopsy procedures in specific regions, and the lack of trained professionals are anticipated to jeopardize the growth of the studied market shortly.
This research report on the European microtome market has been segmented and sub-segmented into the following categories.
By Technology:
By Product:
By End-user:
By Country:
In 2020, the German market dominated the European microtome market due to well-developed healthcare systems coupled with the latest diagnostic technologies in the region. Other factors driving the market include increased cancer screening programs, the increased presence of skilled professionals, a favorable reimbursement scenario for pathologic anatomy diagnostic testing, and increased healthcare spending.
In other European countries such as France, the United Kingdom, Norway, and Sweden, among others, the regional markets are projected to grow at a steady, healthy rate owing to the presence of a large number of medical institutions involved in oncology studies, increased investment by public and private sectors in vitro diagnostics, significant growth in rising per capita income and the boom in the medical tourism industry. In addition, increasing elderly population levels coupled with increased patient awareness of the benefits of early diagnosis of the disease will provide potential opportunities for the growth of the European microtome market during the forecast period.
KEY MARKET PLAYERS:
Companies playing a prominent role in the European microtome market and profiled in this report are SLEE Medical, Histo-Line Laboratories, BMS Microscopes, Thermo Fisher Scientific, Auxilab, Orion Medic, Medite, TBS, MICROS, Bright Instruments, MicroTec, Amos Scientific, Boeckeler Instruments, Lupetec, Zenith Lab, Medimeas Instruments, AGD Biomedicals, Scientific Instruments, and Ana-Med.
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