Immunohistochemistry Market worth $3.58 Billion by 2028 – Exclusive Report by The Insight Partners
Global immunohistochemistry market is growing at a CAGR of 7.4% from 2021 to 2028.
Pune, India, Aug. 29, 2023 (GLOBE NEWSWIRE) — Immunohistochemistry is a tool used microscopy-based techniques to observe cellular components such as proteins or other macromolecules in a tissue sample. It is routinely used tool in health care and pathology. IHC is widely used in research application where molecules of interest are analyzed to study their roles in both healthy and diseased cells and tissues on the cellular, molecular, or tissue level. There are numerous IHC methods that can be used to localize antigens. Parameters like specimen types and assay sensitivity are majorly considered in IHC.
Immunohistochemistry Market in terms of revenue was estimated to be worth $2.17 billion in 2021 and is poised to reach $3.58 billion by 2028, growing at a CAGR of 7.4% from 2021 to 2028 according to a new report published by The Insight Partners.
Global immunohistochemistry market growth is driven by rising incidences of chronic and infectious diseases, increasing geriatric population, and increasing R&D investments by biotechnology & biopharmaceutical companies.
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Browse Comprehensive TOC on “Immunohistochemistry Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Application (Diagnostics, and Drug Testing); Product (Antibodies, Equipment, Reagents, and Kits); End User (Hospitals and Diagnostic Laboratories, Research Institutes, and Others), and Geography.”
List of Tables – 259
List of Figures – 191
No. of Pages – 93
Global Immunohistochemistry Market Scope:
|Market Size Value in||USD 2.17 Billion in 2021|
|Market Size Value by||USD 3.58 Billion by 2028|
|Growth rate||CAGR of 7.4% from 2021-2028|
|Segments covered||Application, Product, End User and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.|
|Country scope||Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States|
|Report coverage||Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends|
Increasing Geriatric Population to Drive Global Immunohistochemistry Market:
The growing elderly population is the major cause of the chronic diseases. Aging is a complex process influenced by genetic variables as well as environmental factors. Thus, the people with the age of 75 years and above high blood pressure are the common risk factor for the cardiovascular diseases including blood-associated cancer. Management of these disorders in older patients must often be weighed in a setting of decreased physiological reserves and concurrent illnesses.
According to the United Nation’s World Population Ageing 2017 report, in 2017, there were 962 million people across the world who were aged 60 years or over and the number is expected to reach nearly 2.1 billion by 2050. In addition, according to the US Census Bureau the number of Americans above the age of 65 and older is anticipated to grow more than double from 46 million in 2016 to above 98 million by 2060, and the 65-and-older age group’s share in the world’s population will grow around 24% from 15 percent.
In 2017, Europe has the largest percentage of population aging more than 60 or above (25%). According to the European Union (EU), the share of those aged 80 years or above is predicted to almost triple between 2011 and 2060. The fast and rapid ageing is occurring in other parts of the world as well, so that by 2050 all regions of the world except Africa will have nearly a quarter or more of their populations at ages 60 and above.
According to the National Council on Aging, approximately 80% of adults suffer with at least one chronic disease, whereas 77% of aged people suffer with two. These chronic diseases majorly comprise of cancer, heart disease, diabetes, and stroke. Immunohistochemistry techniques helps in quantification and diagnosis of these diseases accurately and reliably. The rising geriatric population in the world is thus likely to grow immunohistochemistry market in the forecast period.
North America is the largest market for immunohistochemistry, and the US, Canada, and Mexico are the major contributors to the market in this region. The growth of the North American market is characterized by the growing prevalence of cancer and corresponding growth in cancer diagnostic tools, technological advancements in immunohistochemistry techniques and rising geriatric population. In addition, growing healthcare expenditure is likely to be a major growth stimulator for the immunohistochemistry market in North America. Immunohistochemistry market growth in the United States is attributed to the rapidly increasing incidence of chronic diseases such as cancer in the country, as well as the growing demand for diagnostics. Immunohistochemistry (IHC) is a widely used technique for cancer diagnosis; it identifies cancer markers in biological tissues selectively. In breast cancer, immunohistochemistry, for example, quantifies the estrogen receptor, progesterone receptor, human epidermal growth factor receptor-2, Ki-67, and p53. According to the Breast Cancer Organization, an estimated 268,600 new cases of invasive breast cancer will be diagnosed in women in the United States in 2019 and approximately 62,930 new cases of non-invasive (in situ) breast cancer will be diagnosed. Thus, as breast cancer becomes more prevalent, the demand for immunohistochemistry is likely to increase. Additionally, this technique is used to diagnose other types of cancer, such as prostate cancer and lung cancer. According to the National Cancer Institute, the country will see 1,735,350 new cancer cases in 2021. Breast cancer, lung and bronchus bronchial cancer, prostate cancer, colon and rectal cancer, melanoma cancer, and liver cancer are the most common types of cancer. Cancer incidences are increasing at an alarming rate in the country, resulting in an increase in demand for cancer diagnosis.
Additionally, the rising prevalence of diabetes is expected to boost the immunohistochemistry market. According to data published by the Centers for Disease Control and Prevention in 2018, 30.3 million people in the United States are diabetic, accounting for 94 percent of the population.
Additionally, there has been an unprecedented growth in innovative and improved medical technologies in recent years. This expansion resulted in the development of advanced diagnostics and accelerated the advancement of the healthcare industry. Additionally, the United States is home to numerous companies developing advanced diagnostic products. For example, in January 2016, DAKO NORTH AMERICA, INC received FDA approval for the PD-L1 IHC 28-8 PharmDx Immunohistochemical assay, which is used to detect PD-L1 protein in non-squamous non-small cell lung cancer (NSCLC) and melanoma tissue that has been formalin-fixed, paraffin-embedded (FFPE).
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Global Immunohistochemistry Market: Competitive Landscape
F. Hoffmann-LA Roche AG, Merck KGaA, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Abcam Plc, Agilent Technologies, Bio SB, Bio-Rad Laboratories, Cell Signaling Technology, Inc., and Danaher Corporation among others are among the key companies operating in the immunohistochemistry market. Leading players are adopting strategies such as the launch of new products, expansion and diversification of their market presence, and acquisition of new customer base for tapping prevailing business opportunities.
Global Immunohistochemistry Market – Key Industry Dynamics:
- Rising Incidences of Chronic and Infectious Diseases
- Increasing Geriatric Population
- Increasing R&D Investments by Biotechnology & Biopharmaceutical Companies
- Limitations Associated with Immunohistochemistry
- Key Market Opportunities
- Development Opportunities in Emerging Countries
- Increasing Acceptance of Automation in Immunohistochemistry
In July 2021, PD-L1 IHC 22C3 pharmDx of Agilent Technologies Inc. Expands CE-IVD mark in Non-small Cell Lung Cancer (NSCLC). It is labeled for extended use in patients with NSCLC in the European Union. It can now use in identifying NSCLC patients with tumor PD-L1 expression of Tumor Proportion Score (TPS) 50% for treatment with Libtayo (cemiplimab).
In April 2020, Bio-Rad launched a blood-based immunoassay kit to detect Covid-19. It is a blood-based immunoassay kit to identify antibodies to the SARS-CoV-2, the virus that causes Covid-19.
In July 2021, PerkinElmer agreed to acquire BioLegend among, the global market leader in the provider of life science antibodies and reagents, for about $5.25 billion in a combination of cash and stocks.
Based on products, the global immunohistochemistry market, has been segmented into antibodies, equipment, reagents, and kits. The antibodies segment is likely to hold the largest share of the market in 2021. Moreover, the reagent segment is anticipated to register the highest CAGR in the market during the forecast period, due to their incumbent usage, high volume consumption, and product innovation. The global immunohistochemistry market, based on appplication is segmented into diagnostics and drug testing. In 2021, the diagnostics segment is likely to hold the largest share of the market. Moreover, the segment is also expected to witness growth in its demand at a fastest CAGR during 2021 to 2028, owing to the rise in the detection and diagnosis of various medical conditions across the globe. Global immunohistochemistry market, based on end user was segmented into hospital & diagnostic laboratories, research institutes, and others. In 2021, the hospital & diagnostic laboratories segment is likely to hold the largest share of the market, by end user. In addition, the segment is also expected to grow at the fastest rate during the coming years owing to the rise in the prevalence of infectious diseases, cancer and autoimmune disorders. The rise in the cases of these disorders is expected to drive the need for its diagnosis, hence leading to the growth of the segment.
- Progressive industry trends in the immunohistochemistry market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the immunohistochemistry market from 2021 to 2028
- Estimation of global demand for immunohistochemistry
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the immunohistochemistry market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- Size of the immunohistochemistry market size at various nodes
- Detailed overview and segmentation of the market, as well as the immunohistochemistry industry dynamics
- Size of the immunohistochemistry market in various regions with promising growth opportunities
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