Immunohistochemistry Market: Exploring Opportunities through Market Share and Growth Projections

According to TechSci Research report, “Immunohistochemistry Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028Fs”, global Immunohistochemistry market is anticipated to grow at an impressive rate during the forecast period, 2024-2028. This can be ascribed to the growing implementation of automation and machine learning in IHC along with growing emergence of multiplexed immunohistochemistry across the region. Additionally, growing geriatric population and subsequent growth in prevalence of chronic and infectious diseases are expected to drive the growth of the market during the forecast period. Moreover, the growing availability of reimbursement for Immunohistochemistry (IHC) tests will further enhance the demand for the immunohistochemistry market during the forecast period. Besides, the growing demand for personalized medicine for diagnosis of chronic diseases are anticipated to boost the growth of the market over the years. Also, growing significance of companion diagnostics will further enhance the demand for immunohistochemistry market during the forecast period. Similarly, the growing number market players along with growing adoption of immunohistochemistry is projected to drive the market growth. Moreover, increasing number of CROs investing for new tests kit is further expected to boost the growth of the market during the forecast period.

However, lack of skilled professionals as well as a trained workforce with cross functional skills are expected to hamper the growth of the market during the forecast period. Moreover, limitations associated with IHC techniques can further restrict the growth of the global Immunohistochemistry market. Similarly, limited scope for multiple evaluations may further restrain the growth of the market during the forecast period.

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Immunohistochemistry market can be segmented on the basis of product, application, end user and region.

Based on product, the global Immunohistochemistry market can be segmented into antibodies, equipment, reagents, and kits. The antibodies segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to the growing usage of antibodies in disease diagnosis and drug testing. Moreover, growing application of antibodies in pathology, neuropathology and hematopathology is expected to drive the growth of the market during the forecast period.

Based on application, the market can be segmented into diagnostics, drug testing, and forensic applications. The diagnostics segment is expected to dominate during the forecast period on account of the increasing usage of immunohistochemistry tests for diagnosis of chronic diseases such as cancer, cardiovascular diseases and nephrological diseases along with growing prevalence of chronic disease is expected to increase demand for immunohistochemistry market during the forecast period.

Major companies operating in the global 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.

For instance, in June 2021, PathAI, a U.S.-based developer of AI-powered technology for pathological applications, showcased a machine learning-based quality control tool, designed for HER2 testing in breast cancer, at the American society of clinical oncology virtual scientific program 2021.

For instance, in January 2021, Biocare medical LLC launched the ONCORE Pro, a fully automated in vitro diagnostic benchtop system for In-situ Hybridization (ISH) and IHC applications.

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“North America is expected to dominate in the Global Immunohistochemistry market on account of the growing number of market players along with easy availability of IHC solutions in the market. Similarly, growing adoption of technologically advanced IHC instruments along with development of newer IHC solutions is expected to drive the growth of the market during the forecast period. Moreover, the growing disposable income along with growing healthcare spending is expected to create lucrative growth during the forecast period. Similarly, growing demand for quality medical care in the urban regions is expected to boost the growth of the market over the years. Furthermore, growing investments by pharmaceutical and biopharmaceutical companies along with growing academic and government investments in diagnostic research is expected to further boost the growth of the market during the forecast period. Besides, the presence of significant market participants is further expected to create lucrative opportunities for market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Immunohistochemistry Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Product (Antibodies, Equipment, Reagents, Kits), By Application (Diagnostics, Drug Testing, Forensic applications), By End User (Hospitals & Diagnostic Laboratories, Research Institutes, Others) and By Region and Competition”, has evaluated the future growth potential of global Immunohistochemistry market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Immunohistochemistry market.

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