Immunohistochemistry Market Is Expected To Reach $ 3.2 Billion By 2027

San Francisco, 22 Dec 2020: The Report Immunohistochemistry Market Size, Share & Trends Analysis Report By Product (Antibodies, Equipment, Reagents, Kits), By Application (Diagnostics, Drug Testing), By End Use, By Region, And Segment Forecasts, 2020 - 2027

The global immunohistochemistry market size is expected to reach a value of USD 3.2 billion by 2027, expanding at a CAGR of 7.8%, according to a new report by Grand View Research, Inc. Rising prevalence of chronic diseases, increasing regulatory approvals, and launch of technologically advanced immunohistochemistry (IHC) systems are expected to propel market growth over the forecast period. 

IHC has become a crucial technique and is widely applied in the diagnosis of several chronic diseases such as cancer, infectious diseases, and cardiovascular diseases (CVDs). Thus, a rise in the incidence of these chronic diseases has led to an increase in the demand for IHC techniques. According to 2018 data published by WHO, globally, cancer was one of the leading causes of mortality, and in 2018 around 9.6 million deaths were registered due to cancer. The same source also states that every year CVDs cause around 17.9 million deaths, globally. 

Furthermore, increasing regulatory approval and launch of novel IHC products are expected to support IHC market growth. For instance, in May 2019, F. Hoffmann-La Roche AG launched its new VENTANA ROS1 (SP384) Rabbit Monoclonal Primary Antibody, intended for the detection of ROS1-positive cancer cases. Additionally, in June 2019, the U.S. FDA approved the expanded use of Agilent Technologies’ PD-L1 IHC 22C3 pharmDx assay for the detection of head and neck squamous cell carcinoma (HNSCC). This product is used in patients receiving treatment with Merck and Co., Inc.’s Keytruda (Pembrolizumab). 

However, various limitations associated with immunohistochemistry techniques and the high cost of automated IHC instruments are expected to hinder market growth over the forecast period. Automated immunohistochemistry instruments for disease diagnosis involve high setup costs. As a result, various emerging economies still rely on cost-effective traditional diagnostics that are based on immunostaining of thin tissue sections. 

Access Research Report of Immunohistochemistry Market @ https://www.grandviewresearch.com/industry-analysis/immunohistochemistry-ihc-market

Immunohistochemistry Market Report Highlights

  • Antibodies product segment held the largest market share in 2019 owing to increasing product approval and their high adoption rate, leading to a high demand for IHC techniques
  • The diagnostics application segment dominated the IHC market in 2019 and is expected to witness the highest growth over the forecast period due to the rising prevalence of chronic diseases
  • Hospitals and diagnostic laboratories dominated the market, by end use in 2019 owing to an increase in the number of hospitals and diagnostic centers with advanced infrastructure and the growing incidence of life-threatening diseases
  • North America held the largest market share in 2019 due to the presence of well-established healthcare infrastructure, favorable healthcare reimbursement policies, and the presence of major players in U.S.
  • Asia Pacific is anticipated to exhibit fastest growth over the forecast period due to the increasing prevalence of chronic diseases in countries such as China and India
  • Some of the key players of immunohistochemistry market are Thermo Fisher Scientific, Inc.; F. Hoffmann-La Roche Ltd.; Merck KGaA; Danaher Corporation; Perkinelmer, Inc.; Bio-Rad Laboratories, Inc.; Cell Signaling Technology, Inc.; Bio SB; Agilent Technologies, Inc.; and Abcam plc. 

Access Press Release of Immunohistochemistry Market @ https://www.grandviewresearch.com/press-release/global-immunohistochemistry-ihc-market

 

 

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