Danaher Corporation (US), PHC holdings corporation (Japan) and Cardinal Health (US) are leading players in Microtome Market
The global microtome market is expected to reach USD 585 million by 2027 from USD 425 million in 2022, at a CAGR of 6.6% during the forecast period. The growth of this market is majorly driven by rising prevalence of cancer, growing demand for digital pathology, recommendations for cancer screening, availability of reimbursement. However, Lack of skilled professionals, and availability of refurbished products are some of the challenges for which may hinder the growth of this market.
The microtome market is consolidated and is dominated by various players. The key players operating in this market are Danaher Corporation (US), PHC holdings corporation (Japan), Cardinal Health (US), Boeckeler Instruments, Inc (US), SM Scientific Instruments Pvt. Ltd. (India), Bright Instruments (UK), Sakura Finetek USA, Inc (US), Jinhua Yidi Medical Equipment Co., Ltd (China), Ted Pella, Inc (US), Medimeas (India), SLEE medical GmbH (Germany), Histo-Line Laboratories (Italy), microTec Laborgeräte GmbH (Germany), MEDITE Medical GmbH (Germany), Erma Inc. (Japan)
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Danaher Corporation
Danaher accounted for the largest share of 25–30% of the microtomes market in 2021. Danaher Corporation is an important player in the microtomes market. Its subsidiary, Leica Biosystems, offers a broad portfolio ranging from biopsy to diagnosis across radiology, pathology, surgery, and oncology applications. In 2021, the company spent USD 1.74 billion on R&D. It is also focusing on opportunities to extend its global reach and advance its technologies. In 2021, around 64.2% of Danaher’s sales were derived from customers outside North America. This highlights its strong presence and focus on high-growth markets across Eastern Europe, the Middle East, Africa, Latin America, and Asia.
PHC Holdings Corporation
PHC Holdings Corporation is one of the key players operating in the microtomes market. The company invested USD 136.47 million in R&D activities in 2021. Its extensive focus on R&D enables the company to enhance its technologies, devices, and service capabilities. A significant focus on R&D activities also helps the company provide innovative products and maintain and improve its competitive position in the microtomes market. With its broad product portfolio, strong marketing efforts, and wide geographic presence, the company is expected to grow at a high rate in the microtomes market during the forecast period.
Cardinal Health
Cardinal Health is an important player in the microtomes market. The company offers a range of microtome products, including cryostats, semi-automated as well as manual microtomes, embedding systems, and accessories. Cardinal Health has about 48,000 employees serving customers in more than 60 countries. In FY 2021, Cardinal Health announced plans for a multi-million-dollar expansion of its operations in Indianapolis. The company can increase its presence in emerging markets that display enormous growth potential in the microtomes market.
Related Reports:
Microtome Market by Product (Instruments, (Rotary), Accessories (Microtome Blades), Application (Disease Diagnosis, Medical Research), Technology (Fully Automated, Semi-automated, Manual), End User (Hospital, Clinical Labs) - Global Forecast to 2027
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