Microtome Market Projected to Exhibit Growth at a CAGR of ~6% by 2032 Driven by Rising Demand for Chronic Condition Diagnostics and Biomedical Research.

The global microtome market is expected to exhibit growth at a CAGR of ~6% by 2032, driven by the increasing prevalence of chronic conditions and the expansion of biomedical research and pharmaceutical development. North America is anticipated to dominate the market, with the fully automated segment having a significant revenue share in 2024. Notable companies operating in the market include Thermo Fisher Scientific, AGD Biomedicals, and Leica Biosystems.

The global microtome market is experiencing a significant surge, driven by the increasing prevalence of chronic conditions and the expansion of biomedical research and pharmaceutical development [1]. With a projected Compound Annual Growth Rate (CAGR) of 6.6% between 2023 and 2030, this market is expected to reach a value of US$ 162.9 million by 2030 [1].

One of the primary factors fueling this growth is the rising incidence of cancer. Microtomes play a crucial role in obtaining high-quality sections from paraffin-embedded specimens, which are essential for histopathology studies and diagnostics [1]. As the global population ages, the number of individuals diagnosed with cancer is expected to increase, leading to a higher demand for microtomes [1].

Moreover, the increasing awareness about Histopathology studies and strategic efforts by prominent market competitors are also contributing to the market's growth. For instance, in June 2020, Kalstein France launched a new microtome device that offers increased precision and the ability to obtain very thin serrated sections [1]. Similarly, in October 2022, Aquaro Histology, Inc. completed a Series A funding round of US$ 9.8 million to develop an automated section mounting system, which facilitates hands-free microtomy in histology laboratories [1].

In terms of regional breakdown, North America is expected to dominate the microtome market, with a significant revenue share in 2024 [1]. This dominance can be attributed to the region's well-established healthcare infrastructure, robust research and development capabilities, and a high prevalence of chronic conditions [1].

The fully automated segment is also expected to have a significant revenue share in the microtome market, as automated systems offer advantages such as increased efficiency, reduced fatigue, and improved safety and reliability [1].

In conclusion, the microtome market is poised for significant growth in the coming years, driven by the increasing prevalence of chronic conditions, the expansion of biomedical research and pharmaceutical development, and strategic efforts by prominent market competitors. With a projected CAGR of 6.6% between 2023 and 2030, this market presents a US$ 162.9 million opportunity for manufacturers and investors alike.

References:
[1] Coherent Market Insights. Microtomes Market - Global Industry Size, Share, Trends, Analysis, and Forecast, 2023-2030. https://www.coherentmarketinsights.com/market-insight/microtomes-market-3783