The global immunohistochemistry market is projected to reach USD 5.2 billion by 2029 from USD 3.7 billion in 2024, at a CAGR of 7.2% during the forecast period. Factors such as the growing geriatric population, rising prevalence of cancer, technological advancements in immunohistochemistry (IHC) technology, reimbursement policies for immunohistochemistry (IHC) tests, and the adoption of digital pathology are driving the growth of the immunohistochemistry (IHC) market. However, the high degree of consolidation is expected to restrain the market’s growth during the forecast period. A lack of standardization is a major challenge to the growth of this market.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=121632939
The Kits product segment accounted for the highest growth rate in the immunohistochemistry market, by product, during the forecast period
In 2023, the Kits product segment witnessed the highest growth rate in the immunohistochemistry market (IHC) during the forecast period of 2024-2029. Diagnostic laboratories, hospitals, research institutes, and other end users are increasingly seeking comprehensive solutions such as closed-system reagents with calibrated measurements of the necessary test quantities of reagents and controls from single, reliable providers supporting the demand for the kits. Additionally, the utilization of ready-to-use kits simplifies the IHC process by eliminating the initial time-consuming steps of selecting primary antibodies and appropriate stains, driving significant growth in the immunohistochemistry kits market.
Forensics applications segment accounted for the smallest share of the application segment
Based on application, the immunohistochemistry (IHC) market is divided into diagnostic, research, and forensic applications. In 2023, the forensics application segment held the smallest share of the IHC market. Applications such as tissue differentiation studies, for determining the cause of death, biological fluid analysis, and injury analysis, and other such forensic applications utilize IHC tests and methods. Identification of age-related brain diseases (such as Alzheimer's and strokes) and trauma (often from falls) and their roles in the cause of death can also be determined using the IHC test on post-mortem samples. However, its forensic pathology applications are typically limited to confirming or excluding natural diseases. Additionally, the use of IHC tests in forensic applications is relatively infrequent, as they are employed mainly when detailed tissue analysis is required. The cost and complexity of the technology further restrict its use in forensic settings.
Hospitals & Diagnostic Laboratories segment accounted for the largest share of the end user segment
Based on end users, the IHC market is segmented into hospitals & diagnostic laboratories, academic institutes & contract research organizations (CROs), and other end users. The hospitals & diagnostic laboratories segment accounted for the largest share of the IHC market in 2023. IHC offers diagnostic precision when used for disease identification, aiding in the accurate diagnosis of various diseases, including cancers, infectious diseases, and autoimmune disorders. This helps in developing targeted treatments for patients, especially for cancer treatment. Hospitals and diagnostic labs use IHC tests for tissue sample analysis for various pathological examinations, essential for studying disease mechanisms and tailoring the offered treatments.
Moreover, the growth of this end-user segment is driven by several other factors such as the rising number of specialty diagnostic tests conducted in hospitals and diagnostic laboratories, and the growing establishment of in-house diagnostic capabilities by various hospitals offering timely and cost-effective diagnostic services to their patients.
Asia Pacific: The fastest-growing region in the immunohistochemistry market
The immunohistochemistry (IHC) market is divided into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The Asia Pacific region is expected to experience the highest growth rate during the forecast period of 2024-2029. Factors such as the ongoing economic development in the region, a large patient population with a high prevalence of chronic diseases, improving standards of living leading to a growing demand for quality medical care, government initiatives, and increasing awareness of IHC tests are driving the market growth in the Asia Pacific region.
Prominent players operating in the global immunohistochemistry market include F. Hoffman-La Roche AG (Switzerland), Danaher Corporation (US), and Agilent Technologies, Inc. (US).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=121632939
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Comments
0 comment