Global Immunohistochemistry Market is expected to grow at a CARG of 7.9% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Immunohistochemistry Market By Product (Equipment, Kits, Antibody, Reagents), Application (Drug Testing, Diagnostics), End-User, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, And Forecast 2020 To 2027.
The global Immunohistochemistry market is expected to grow from USD 1.7 billion in 2019 to USD 3.12 billion by 2027, at a CARG of 7.9% during the forecast period 2020-2027.
North American region dominates the market of IMC. This region has a well-established healthcare infrastructure which leads to a rise in adoption of IHC instrument in research centers and laboratories. The incidence of chronic diseases like cancer is increasing in this region which further drives the demand for IHC technique.
Asia-Pacific region is predicted to have the highest growth due to speedy economic development in countries lie India, Singapore, China and South Korea. Also, increase in aging population and high prevalence of chronic disease are also the factors which drives the market for IMC.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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The key players of this market are Danaher Corp., Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Merck KGaA, Cell Signaling Technology Inc., Abcam Plc., F. Hoffmann-La Roche Ltd., Perkinelmer Inc., Bio SB and Agilent Technologies. Agilent Technologies signs sponsorship agreement with My Green Lab. Agilent Technologies also said that it has become a top-level sponsor of My Green Lab which a non-profit organization dedicated to improving the sustainability of scientific research.
The product segment includes equipment, kits, antibody and reagents. Antibody segment is dominant in the market as antibodies are primarily used in the diagnosis of chronic diseases. The application segment includes drug testing and diagnostics. Diagnostic segment has the largest share due to increase in the chronic diseases like cancer, diabetes, cardiovascular etc. The end-user segment includes research institutes, hospitals & diagnostic laboratories and other end-users. Hospitals & diagnostic laboratories have the largest market share.
The IMC market is benefiting from the increasing prevalence of chronic disease across the world. Also, the alarming rush in healthcare and medical spending and the shifting focus on value-based healthcare solution also helps in the growth of market. Additionally, increased uptake of advanced technologies in healthcare and medical industries is likely to fuel up the market. However, high cost of IHC equipment can restrain the IHC market to grow.
About the report:
The global Immunohistochemistry market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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