Global Microtomes Market, by Equipment Type (Instruments (Rotary Microtome, Vibrating Microtome, Cryostat Microtome, Freezing Microtome, and Others) and Accessories), by Technology/Interventions (Fully Automated Microtomes, Semi-automated Microtomes, and Manual Microtomes), by Application (Disease Diagnosis and Medical Research), by End User (Hospitals, Ambulatory Surgical Centers, Research Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 162.9 Million in 2023 and is expected to exhibit a CAGR of 6.6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focused on adopting growth strategies such as partnerships, which will drive the global microtomes market growth. For instance, in May 2020, Solmedia, a laboratory equipment supplier in Shrewsbury, England, signed U.K. exclusive partnership with SLEE medical GmbH, specialised in manufacturing and engineering histology equipment, to improve the microscopic sample preparation process.
Global Microtomes Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of things from one place to another.
COVID-19 had a positive impact on the global microtomes market. For instance, in April 2020, Siemens Healthcare GmbH, a medical device and parent company for several medical technology companies, headquartered in Erlangen, Germany, formally unveiled the RAPIDPoint 500e Cancer Blood Biomarker, adding to the company's product lineup and supporting COVID-19 initiatives.
Global Microtomes Market: Key Developments
In May 2020, F. Hoffmann-La Roche Ltd., a multinational healthcare company based in Switzerland, announced its acquisition of Stratos Genomics is Biotechnology company in Seattle, Washington. The development of diagnostic sequencing based on DNA was made possible by this acquisition. This enhanced the business's healthcare diagnosing division and raised its revenue-generating capacity.
In September 2021, Laboratory Corporation of America is a life sciences company based in the U.S., announced that it had entered into a definitive agreement to acquire select operating assets and intellectual property (IP) from Myriad Genetics, Inc. is genetic testing and precision medicine company based in Salt Lake City, Utah, United States. autoimmune business unit, including the Vectra Cancer (RA) assay.
Browse 34 Market Data Tables and 26 Figures spread through 176 Pages and in-depth TOC on “Global Microtomes Market”- Forecast to 2030, Global Microtomes Market, by Equipment Type (Instruments (Rotary Microtome, Vibrating Microtome, Cryostat Microtome, Freezing Microtome, and Others) and Accessories), by Technology/Interventions (Fully Automated Microtomes, Semi-automated Microtomes, and Manual Microtomes), by Application (Disease Diagnosis and Medical Research), by End User (Hospitals, Ambulatory Surgical Centers, Research Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/microtomes-market-3783
Key Takeaways of the Global Microtomes Market :
- The global microtomes market is expected to exhibit a CAGR of 6.6% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global microtomes market.
- Among Application, the disease diagnosis segment is expected to hold a dominant position in the global microtomes market during the forecast period and this is attributed to the increasing novel treatment on diseases. In April 2020, according to study published in The New England Journal of Medicine, men with metastatic castration-resistant prostate cancer (mCRPC) on a novel hormone treatment experienced significant, clinical improvement from Olaparib sold under the brand name Lynparza, is a medication for the maintenance treatment of BRCA-mutated advanced ovarian cancer in adults. radiographic-progression-free survival compared to men on novel hormone treatment alone. The subjects receiving Olaparib also trended toward an average improved overall survival of 18 months compared to an average of 14.7 months in the other cohorts.
- Among region, North America is expected to be the dominant region in the global microtomes market, owing to the key players are focusing on inorganic strategies such as partnership. For instance, in November 2021, Scipher Medicine, a precision immunology company matching patients with their most effective medication therapies in North America, announced a partnership with RxParadigm, a pharmacy benefit manager company delivering transparency and restoring competitiveness to healthcare systems, to offer RxParadigm customers access to PrismRA. PrismRA is the only molecular signature blood test available in the U.S. that informs personalized treatment decisions for patients with Cancer.
- Major players operating in the global microtomes market include Myriad Genetics, Inc., F. Hoffmann-La Roche AG, LLS ROWIAK LaserLabSolutions GmbH, Leica Biosystems Nussloch GmbH, MEDITE GmbH, Abbott Diagnostics (Abbott Laboratories), SLEE medical GmbH, Boeckeler Instruments, Nanolytik, S.M. Scientific Instruments Pvt. Ltd., MICROS Austria Produktions-und Handelsges.m.b.H, AGD Biomedicals (P) Ltd., Alltion, Amos Scientific Pty Ltd, and Thermo Fisher Scientific.
