Europe Microtome Market to Grow at a CAGR of 5.4% to reach US$ 58,738.7 thousand in 2027 million from 2020 to 2027

Europe Microtome Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product (Microtome Instruments, Microtome Accessories); Technology (Manual Microtomes, Semi-automated Microtomes, Fully Automated Microtomes); End User (Hospitals, Clinical Laboratories, Other End Users)

Publication Month : Aug 2020

  • Report Code : TIPRE00013019
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 126
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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 market is driven by factors such as the rising prevalence of cancer and the increasing adoption of digital pathology in developed economies. However, the Europe Microtome market is likely to have a negative impact due to lack of skilled professionals.

Cancer is among the significant reasons of death globally, and its increasing prevalence is boosting the number of histopathology tests. A tissue pathology analysis is needed for the examination of a malignant tumour to predict the onset of cancer. As per the data from the Global Cancer Observatory (WHO), the expected 446,942 cancers were diagnosed in 2018 in the UK. Moreover, approximately 178,473 cancer deaths were recorded among the population in 2018 in the country. Similarly, in Germany, 608,742 cancers were diagnosed in 2018.

Furthermore, about 247 462 cancer deaths were recorded among the population in 2018 in Germany. Increasing rates of cancer and growing knowledge concerning early diagnostic procedures are expected to boost the adoption rate of microtomes throughout the forecast period. Examination of biopsy tissues helps pathologists in discovering cancer type, stage, and the degree of disease spread.

Moreover, increasing awareness programs initiated by organizations such as the Cancer Research UK, the German Cancer Society, the National Health Service (NHS), and the German Cancer Research Center for cancer screening are further propelling the market growth. For instance, the National Health Service (NHS) intends cervical screening programs for all women among 25 and 64 years of age in the UK. The factors mentioned above are expected to drive the growth of the market for microtome during the coming years.

Moreover, the impact of the COVID-19 pandemic on the microtome market is severe. Hospital and clinical laboratories are engaged in handling COVID-19 patients, which has halted the diagnosis of other diseases. Moreover, the focus has been shifted to find a cure for the virus, which has suspended all the other research activities in the region. For instance, EFPIA member companies are engaged in finding vaccines, diagnostics, and treatments for the outbreak. At present, there are more than 100 vaccine candidates in development and over 600 clinical trials underway to find a remedy against COVID-19 globally.


Europe Microtome Market Revenue and Forecast to 2027 (US$ Mn)

Europe Microtome Market Revenue and Forecast to 2027 (US$ Mn)
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Europe Microtome Market– Market Segmentation

By Product

  • Microtome Instruments
    • Rotary Microtomes
    • Cryostat Microtomes
    • Vibrating Microtomes
    • Other Microtome Instruments
  • Microtome Accessories

By Technology

  • Manual Microtomes
  • Semi-automated Microtomes
  • Fully Automated Microtomes

By End User

  • Hospitals
  • Clinical Laboratories
  • Other End Users

By Country

  • UK
  • Germany
  • France
  • Italy
  • Spain

Company Profiles

  • PHC Holdings Corporation
  • MEDITE Medical GmbH
  • Leica Biosystems Nussloch GmbH (Danaher)
  • Histo-Line Laboratories
  • SLEE medical GmbH
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, Technology, End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

UK, Germany, France, Italy, Russia

  1. PHC Holdings Corporation
  2. MEDITE Medical GmbH
  3. Leica Biosystems Nussloch GmbH (Danaher)
  4. Histo-Line Laboratories
  5. SLEE medical GmbH

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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