In terms of revenue, the Global Immunohistochemistry Market is expected to reach USD 3.7 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 8.6% from 2023 to 2030.
The market expansion is projected to be fueled by increasing investments and emphasis on drug monitoring, better ways to detect various diseases, technological advances, and increased public awareness of new diagnostic devices. The Immunohistochemistry market will grow slowly due to the low specificity of Immunohistochemistry techniques and high installation costs. Cancer must be diagnosed accurately and quickly to manage the disease effectively. The key factors influencing the rapid growth of the diagnostics segment are:
- The introduction of new products by several market players.
- The rise of point-of-care diagnostics.
- Rapidly evolving technology.
The viral epidemics and chronic diseases worldwide and the use of diagnostic technologies to develop and subsequently manage personalized medicine are likely to fuel market growth. Chronic diseases, cardiovascular disease, and neurological problems are more common as people age and require accurate diagnosis and individualized treatment. The need for Immunohistochemistry reagents and kits is increased by the widespread use of Immunohistochemistry techniques in studying and diagnosing these diseases. Immunohistochemistry is becoming increasingly efficient, accurate, and reproducible due to advances in automation, digital imaging, and multiplexing techniques. Immunohistochemistry techniques can be automated to reduce human error and increase sample throughput, enabling faster diagnosis and therapy. Immunohistochemistry-stained tissues can be digitally imaged to produce high-resolution images that can be processed with computer algorithms, improving the objectivity and accuracy of the results. Using multiplexing technology, multiple antigens can be detected from a single tissue section, facilitating the discovery of complex molecular networks and improving disease diagnosis. In addition, the adoption of Immunohistochemistry in drug development and clinical trials is increasing as the need for individualized treatment increases. Biomarkers and therapeutic targets are discovered through Immunohistochemistry, and these findings can be used to develop personalized treatment plans.
Key Highlights from the Report
· Based on Product, the Antibody segment had the largest market share. The dominance of this segment is due to the increasing use of primary and secondary antibodies in immunohistochemical tests for disease diagnosis. The Reagents segment is expected to grow significantly due to increasing demand for advanced Immunohistochemistry systems for clinical diagnosis.
· Based on Application, the Diagnostic segment was the largest contributor to the market due to the increasing vogue of various chronic diseases such as cancer and diabetes.
· Based on End-Use Sectors, the Hospitals and Diagnostic Laboratories segment was the largest revenue generator in the market due to the increasing range of chronic diseases such as cancer, heart disease, cardiovascular disease, asthma, and chronic obstructive pulmonary disease, and the increase in hospital visits related to the diagnosis of various chronic diseases.
· In Terms of Region, North America is expected to grow at the highest CAGR from 2023 to 2030. This is due to the increase in cases of chronic diseases, the presence of key players, and the advancement of health care in the region.
The Immunohistochemistry market is expanding because more products are approved for use, and technologically advanced Immunohistochemistry solutions have been released to diagnose diseases. The rise in the occurrence of chronic diseases is projected to advance the demand for Immunohistochemistry products, thus fueling market expansion. The Immunohistochemistry market is expanding due to increasing emphasis on drug monitoring, better disease detection capabilities, technological advancements, and increased public awareness of new diagnostic devices. The Immunohistochemistry market will grow slowly due to the low specificity of Immunohistochemistry techniques and high installation costs. Cancer growth must be diagnosed accurately and quickly to manage the disease effectively. However, some chronic diseases cannot be accurately diagnosed by Immunohistochemistry methods, which may prevent widespread use. In addition, the expansion of the Immunohistochemistry market is limited by the high installation costs of Immunohistochemistry equipment, a major burden for diagnostic laboratories and hospitals in developing economies.
The use of Immunohistochemistry protocols has increased in clinical pathology, particularly in hematopathology, neuropathology, and oncologic pathology. In addition, the method had a significant impact on cancer diagnosis. Therefore, the increasing incidence of cancer is expected to increase the need for Immunohistochemistry and expand the fuel market. Additionally, the widespread use of Immunohistochemistry in development and drug development is expected to boost revenue growth during the forecast period. Whole-slide imaging and digital image analysis provide accurate and unbiased assessments. Therefore, image analysis suits various drug development processes, such as target validation, biomarker expression studies, patient stratification, drug repositioning, and drug safety and efficacy studies.
A growing number of elderly and rising cancer incidence are driving factors in the Immunohistochemistry market. In addition, the Immunohistochemistry market is expected to grow due to other factors, such as healthcare costs and improved healthcare infrastructure, ultimately leading to the opening of hospitals and diagnostic laboratories every day. The market's growth rate is also accelerated by the use of technologically advanced immunohistochemical solutions and the expansion of drug research and development.
Due to the success of personalized medicine in treating patients diagnosed with non-small cell lung cancer, its use is expected to increase. This method of choosing a treatment regimen is supported by immunohistochemical methods, which make the most comprehensive and accurate histological subtype determination of tumors. An advantage of molecular testing is the increased availability of immunohistochemical tests that detect mutant proteins. Due to their high reproducibility, the complexity of interpretation, and manageable technical and relative affordability, these methods are essential new devices in modern anticancer therapy. In addition, multiplex and mutation-specific immunohistochemical tests have significantly advanced the field of personalized medicine and targeted therapy.
North America is the largest growing market region for the Immunohistochemistry market. Due to commercialization and advances in biotechnology, the Immunohistochemistry market in North America was the largest globally in 2022. The wider use of this immunohistochemical equipment in diagnostic facilities and laboratories is attributed to the dominance of the North America region. Additionally, favorable reimbursement practices in countries such as the United States and Canada encourage the adoption of automated devices, supporting the expansion of the Immunohistochemistry market in the North America region. Additionally, the increased number of cancer patients from North America countries is expected to increase the need for these immunohistochemical methods.
On the other hand, the Asia Pacific Immunohistochemistry market is expected to exhibit the fastest CAGR during the forecast period. Growth trends in countries such as India, China, South Korea, and Singapore are blamed for the rapid expansion of the Asia Pacific Immunohistochemistry market. In addition to these, high rates of chronic diseases and rapid population aging are also factors driving the growth of the Immunohistochemistry industry in Asia Pacific.
The Global Immunohistochemistry Market is Segmented as follows
- Drug Testing
- Forensic Applications
- End Use
- Hospitals & Diagnostic Laboratories
- Research Institutes
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Immunohistochemistry Market is
Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Merck KGAA (Germany), Danaher Corporation (U.S.), PerkinElmer Inc. (U.S.), Bio-Rad Laboratories Inc. (U.S.), Cell Signaling Technology Inc. (U.S.), Bio SB (U.S.), Abcam PLC (UK), Agilent Technologies Inc. (U.S.)
The Global Immunohistochemistry Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis