The market studied is being driven by factors, such as an increase in the R&D funding, along with the increasing healthcare expenditure and technological advancements in the Laser Capture Microdissection (LCM).
New York, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Laser Capture Microdissection Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05974124/?utm_source=GNW
According to the Office for National Statistics (ONS), the total R&D expenditure in the United Kingdom is increasing rapidly. During 2016, it was around GBP 33.2 billion, which increased in 2017 and reached around GBP 34.8 billion. Similarly, in the United States, the investments in medical R&D was USD 39.5 billion in 2017. This indicates that there is a high investment done in healthcare in the major countries.
Trends are showing a return to growth, with only minor caution, across most areas of R&D spending. The increase in R&D investment in Asia, particularly India, and the consecutive annual growth in R&D spending in the country, indicate a period of stability, security, and healthy competition across the industrial sectors. A national survey by the Central Government of India, on the status of R&D in the country, has shown that India’s Gross Expenditure on R&D (GERD) has more than tripled, from INR 241.17 billion (INR 24,117 crore) to INR 853.26 billion (INR 85,326 crore) during the decade, from 2004-2005 to 2014-2015.
Furthermore, it is indicated that the rising R&D investment will have a positive impact on the market studied and the market will grow rapidly over the forecast period.
Key Market Trends
Diagnostics is Expected to Register a Highest CAGR Over the Forecast Period
Currently, microdissection of tissue sections and cytological preparations have been used increasingly for the isolation of homogeneous, morphologically identified cell populations, thus, overcoming the obstacle of tissue complexity. In conjunction with sensitive analytical techniques, such as the polymerase chain reaction, microdissection allows precise in vivo examination of cell populations, such as carcinoma in situ, or the malignant cells of Hodgkin’s disease, which are otherwise inaccessible for conventional molecular studies.
Laser Capture Microdissection (LCM) may allow the establishment of "genetic fingerprints" of specific pathological lesions, especially malignant neoplasms. In addition to the identification of new diagnostic and prognostic markers, this approach could help in establishing individualized treatment, tailored to the molecular profile of a tumor. Thus, the increased application of LCM in diagnostics is augmenting the growth of the market.
North America to Dominate the Market
Geographically, North America is dominating the global laser capture micro-dissection market, primairly due to the availability of skilled personnel. Also, due to robust healthcare infrastructure in the United States, which is coupled with extensive funding for medical research projects. This will continue to fuel the adoption of laser capture micro-dissection in North America. It has been observed that Asia-Pacific will be the fastest-growing market for laser capture microdissection, mainly due to the rising investment in healthcare R&D in Asian countries.
The laser capture microdissection market is moderately competitive and consists of the global, as well as local players. In countries, like India, there are several local players and these companies are holding a substantial share of the market. A similar scenario was observed in developed countries, such as the United States and a few European countries. With the rising focus on R&D, it is believed that more companies will enter the market in the coming future.
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