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Global Immunohistochemistry (IHC) Market Analysis 2021-2026 | Increasing Demand for Personalized Medicine, Growing Significance of Companion Diagnostics

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Dublin, Nov. 22, 2021 (GLOBE NEWSWIRE) -- The "Global Immunohistochemistry (IHC) Market by Product (Antibodies, Reagents, Equipment, Kits), Application (Diagnostics (Cancer, Infectious, Autoimmune Diseases), Research, Forensic), End-user (Hospitals, Diagnostic Labs, Academia), and Region - 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.

The 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.

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.

Research Coverage

This report provides a detailed picture of the immunohistochemistry market. It aims at estimating the size and future growth potential of the market across different segments such as the product, application, end-user and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles recent developments and key market strategies.

Lists of Companies Profiled

  • F. Hoffman-La Roche AG (Switzerland)

  • Danaher Corporation (US)

  • Agilent Technologies, Inc. (US)

  • Merck KGaA (Germany)

  • Bio-Rad Laboratories, Inc. (US)

  • Bio-Techne Corporation (US)

  • Abcam plc (UK)

  • Becton, Dickinson and Company (US)

  • PerkinElmer, Inc. (US)

  • Takara Bio, Inc. (Japan)

  • Thermo Fisher Scientific, Inc. (US)

  • PHC Holdings Corporation (Japan)

  • Cell Signaling Technology, Inc. (US)

  • Bio SB, Inc. (US)

  • Miltenyi Biotec (Germany)

  • CANDOR Bioscience GmbH (Germany)

  • Sakura Finetek Japan Co. Ltd. (Japan)

  • Eagle Biosciences, Inc. (US)

  • Biocare Medical, LLC (US)

  • Elabscience, Inc. (China)

  • Biogenex Laboratories (US)

  • Diagnostic Biosystems, Inc. (US)

  • BioVision Inc. (US)

  • Rockland Immunochemicals, Inc. (US)

  • Genemed Biotechnologies, Inc. (US)

Market Dynamics

  • Drivers

    • Rising Geriatric Population and Subsequent Growth in Prevalence of Chronic and Infectious Diseases

    • Technological Advancements in IHC

    • Availability of Reimbursements for IHC Tests

  • Restraints

    • High Degree of Consolidation

  • Opportunities

    • Increasing Demand for Personalized Medicine

    • Growing Significance of Companion Diagnostics

    • Growth Opportunities in Emerging Countries

  • Challenges

    • Dearth of Skilled Professionals

    • Product Failures and Recalls

For more information about this report visit https://www.researchandmarkets.com/r/yyb5d8

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