Immunohistochemistry (IHC) is a widely used technique in the field of pathology and involves the detection of antigens in cells or tissues by utilizing antibodies. It is used for the diagnosis of diseases, particularly cancer, as well as for research and drug development purposes. The immunohistochemistry market has been growing rapidly in recent years, driven by advancements in technology, increasing demand for personalized medicine, and the growing prevalence of cancer and other diseases.
The key players in the immunohistochemistry market include F. Hoffmann-La Roche Ltd, Agilent Technologies, Danaher Corporation, PerkinElmer, Inc., Merck KGaA, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Cell Signaling Technology, Inc., Abcam plc, and Biocare Medical, LLC, among others. These companies are focused on developing new and innovative products and solutions to meet the growing demand for immunohistochemistry techniques, and are also expanding their presence in emerging markets to capitalize on the growing opportunities in these regions. Additionally, partnerships and collaborations with healthcare providers and research institutions are also playing a key role in driving innovation in the immunohistochemistry market.
According to the report, the global immunohistochemistry industry generated $2.4 billion in 2021, and is expected to reach $4.5 billion by 2031, manifesting a CAGR of 6.5% from 2022 to 2031.
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Drivers, Restraints, and Opportunities:
Rise in prevalence of chronic diseases and surge in research & development activities worldwide drive the growth of the global immunohistochemistry market. However, lack of skilled professionals and trained workforce with cross-functional skills restrain the market growth. On the other hand, increase in collaboration between regulatory outsourcing and pharmaceutical and biotech companies creates new opportunities in the coming years.
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Impact of Covid-19 on Immunohistochemistry Market-
The immunohistochemistry market impacted positively during the Covid-19 pandemic, owing to surge in prevalence of Covid-19 infections and surge in the adoption of immunohistochemistry techniques for detecting Covid-19 infections.
According to a research published in the Laboratory Investigation journal in July 2020, the immunohistochemical (IHC) and in situ hybridization (ISH) assays were utilized for detecting Covid-19 infection.
The demand for immunohistochemistry techniques surged considerably among research organizations, hospitals, and universities to carry out tests and research activities to gather more information about Covid-19 infection and find out treatment options.
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The antibody segment to maintain its leadership status during the forecast period
Based on product, the antibody segment accounted for the highest market share in 2021, contributing to more than two-fifths of the global immunohistochemistry market, and is projected to maintain its leadership status during the forecast period. Moreover, this segment is estimated to witness the highest CAGR of 7.3% from 2022 to 2031. This is due to increase in the use of primary and secondary antibodies in immunohistochemistry tests for the diagnosis of disease. The reagents segment is also projected to register a considerable growth rate throughout the forecast period, owing to rise in demand for advanced immunohistochemistry systems for clinical diagnosis. The research also offers a detailed analysis of segments including kits and equipment.
The diagnosis segment to maintain its lead position during the forecast period
Based on application, the diagnosis segment contributed to the highest market share in 2021, holding nearly half of the global immunohistochemistry market, and is projected to maintain its lead position during the forecast period. Moreover, this segment is estimated to register the highest CAGR of 7.0% from 2022 to 2031. This is due to increase in the prevalence of various chronic diseases such as cancer and diabetes. On the other hand, the research segment is projected to grow at a considerable growth rate throughout the forecast period. This is due to increase in research & development activities by pharmaceutical companies for innovative drugs. The report also analyzes the forensic segment.
The hospital and diagnostic labs segment to maintain its leadership status by 2031
Based on end user, the hospital and diagnostic labs segment held the highest market share in 2021, accounting for nearly half of the global immunohistochemistry market, and is expected to maintain its lead status by 2031. Moreover, this segment is estimated to grow at the highest CAGR of 7.3% from 2022 to 2031. This is due to increase in prevalence of chronic diseases such as cancer, cardiovascular disease, heart disease, asthma, and chronic obstructive pulmonary disease along with rise in the number of patient visits. The research also analyzes the segments including research institutes and academic institutes and others.
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North America to maintain its dominance in terms of revenue by 2031
Based on region, North America contributed the largest market share in 2021, accounting for around two-fifths of the global immunohistochemistry market, and is expected to maintain its dominance in terms of revenue by 2031. This is due to increase in the number of chronic disease cases, the presence of key players, and advancements in healthcare infrastructure in the region. However, Asia-Pacific is projected to manifest the fastest CAGR of 7.5% during the forecast period, owing to increase in medical tourism, implementation of new guidelines in Japan, surge in investments, and reforms to modernize China’s healthcare infrastructure, and rapid growth of the healthcare industry in India. The research also analyzes regions including Europe and LAMEA.
Leading Market Players
Abcam PLC, Agilent Technologies Inc., Becton, Dickinson & Company, Biocare Medical LLC, Biogenex Laboratories, Bio-Rad Laboratories Inc., Cell Signaling Technology Inc., Diagnostic Biosystems Inc., Eagle Biosciences Inc., F. Hoffman-La Roche AG, Genemed Biotechnologies Inc., Merck KGa ,A Miltenyi Biotec GmbH, PerkinElmer Inc., Rockland Immunochemicals Inc., Takara Bio Inc., Thermofisher Scientific Inc.
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