The Global Immunohistochemistry (IHC) Market Is Expected to Reach Revenues of $3.3 Billion by 2026, at a CAGR of 7.7% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Immunohistochemistry (IHC) Market by Product (Antibodies, Reagents, Equipment, Kits), Application (Diagnostics (Cancer, Infectious, Autoimmune Diseases), Research, Forensic), End User (Hospitals, Diagnostic Labs, Academia) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global immunohistochemistry market is projected to reach USD 3.3 billion by 2026 from USD 2.3 billion in 2021, at a CAGR of 7.7% during the forecast period of 2021 to 2026. Market growth is largely driven by the rising geriatric population and subsequent growth in the prevalence of chronic and infectious diseases, technological advancements in IHC, and the availability of reimbursements for IHC tests. However, the high degree of consolidation by the major market players is expected to restrain the growth of this market during the forecast period.
The Kits product segment accounted for the highest growth rate in the immunohistochemistry market, by product, during the forecast period.
In 2020, the Kits product segment accounted for the share of around 12% of the immunohistochemistry market. The demand for complete solutions from a single provider, like closed-system reagents with calibrated measurements of the required quantity of reagents and controls among diagnostic laboratories, hospitals, research institutes, and other end-users, is growing. Moreover, ready-to-use kits simplify the IHC process by rectifying the initial time-consuming selections of primary antibodies and appropriate stains. This is fueling the growth of the immunohistochemistry kits market.
The diagnostic applications segment accounted for the largest share of the application segment.
Based on application, the IHC market is segmented into diagnostic, research, and forensic applications. The Diagnostic application segment dominated this market in 2020 and is estimated to register the highest growth during the forecast period. The growth of this segment is majorly attributed to factors such as the advantages of IHC over traditionally used special enzyme staining techniques that identify only a limited number of proteins, enzymes, and tissue structures. Therefore, IHC has become a crucial technique and is widely used for medical research as well as clinical diagnostics.
The hospitals & Diagnostic Laboratories segment accounted for the largest share of the end-user segment.
Based on end-user, the IHC market is segmented into hospitals & diagnostic laboratories, academic & research institutes, and other end users. The hospitals & diagnostic laboratories segment accounted for the largest share (74.8%) of the IHC market in 2020. The increasing number of speciality diagnostic tests performed in hospital laboratories, the rising number of in-house diagnostic procedures in hospitals, and the increasing trend of establishing in-house diagnostic capabilities in hospitals to provide time-bound and affordable patient services are factors driving the growth of this market segment.
The Asia Pacific: The fastest-growing region in the immunohistochemistry market.
Based on the region, the immunohistochemistry market is broadly segmented into North America, Europe, Asia-Pacific and the Rest of the World. APAC is expected to register the fastest growth rate during the forecast period owing to several factors, including increasing disposable income, rising healthcare spending, growing demand for quality medical care, and increasing investments by pharmaceutical and biopharmaceutical companies. The rising prevalence of chronic ailments, rapidly increasing geriatric population, growing academic and government investments in diagnostic research, and the presence of many market players are the other major factors driving the growth of the immunohistochemistry market in APAC.
- Rising Geriatric Population and Subsequent Growth in Prevalence of Chronic and Infectious Diseases
- Technological Advancements in IHC
- Availability of Reimbursements for IHC Tests
- High Degree of Consolidation
- Increasing Demand for Personalized Medicine
- Growing Significance of Companion Diagnostics
- Growth Opportunities in Emerging Countries
- Dearth of Skilled Professionals
- Product Failures and Recalls
- Abcam plc
- Agilent Technologies, Inc.
- Becton, Dickinson and Company
- Bio SB, Inc.
- Bio-Genex Laboratories
- Bio-Rad Laboratories, Inc.
- Bio-Techne Corporation
- Biocare Medical, LLC
- Biovision, Inc.
- Candor Bioscience GmbH
- Cell Signaling Technology, Inc.
- Danaher Corporation
- Diagnostic Biosystems, Inc.
- Eagle Biosciences, Inc.
- Elabscience, Inc.
- F. Hoffmann-La Roche AG
- Genemed Biotechnologies, Inc.
- Merck KGaA
- Miltenyi Biotec
- Perkinelmer, Inc.
- PHC Holdings Corporation
- Rockland Immunochemicals, Inc.
- Sakura Finetek Japan Co., Ltd.
- Takara Bio, Inc.
- Thermo Fisher Scientific, Inc.
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