(Health-NewsWire.Net, February 16, 2019 ) According to the new market research report "Immunohistochemistry Market by Product (Antibody, Reagent, Kits, Slide Staining System, Tissue Microarray) Application (Diagnostics (Cancer, Cardiovascular, Diabetes, Autoimmune, Infectious Diseases) & Drug Testing) End User - Global Forecast to 2021", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
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The immunohistochemistry market is projected to reach USD 2.12 Billion by 2021, at a CAGR of 7.3% during the forecast period. Rising geriatric population, growing prevalence of chronic diseases, increasing number of diagnostic centers, and increasing physician awareness & demand for histopathology are expected to fuel the growth of this market in the coming years. However, rapid growth in the developing countries across APAC and Latin America and the increasing demand for personalized medicine offer significant growth opportunities in the market.
Immunohistochemistry (IHC) is a laboratory test that uses antibodies to test certain antigens in a tissue combining immunological, anatomical, and biochemical techniques. There are multiple approaches and permutation in immunohistochemistry applicable in drug testing and diagnosis of chronic diseases like cancer, infectious diseases, cardiovascular diseases, diabetes, and autoimmune diseases. The market covers the market size from 2014 to 2021.
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Rising geriatric population, growing prevalence of chronic diseases, rapid technological developments in the IVD industry, and increasing healthcare spending are expected to fuel the growth of this market in the coming years. However, rapid growth in the developing countries across APAC and Latin America and the increasing demand for personalized medicine are expected to offer significant growth opportunities for players in the market. Regulatory restrictions in developed countries, however, are a major challenge faced by market players in the current market.
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North America accounted for the largest share of the global immunohistochemistry market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Growth in the developed markets like North America and Europe is mainly driven by well-established healthcare industry, easy accessibility to advanced technologies, and growing opportunities for advanced cancer diagnostic testing and cancer screening. The demand in the APAC market is primarily driven by rising number of chronic diseases, rising standard of living, growing demand for quality medical care, increasing healthcare spending and government initiatives, and rising awareness on the use of immunohistochemistry tests.
The major players in the immunohistochemistry market are F. Hoffmann-La Roche AG (Switzerland), Danaher Corporation (U.S.), Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck Millipore (U.S.), Bio-Rad Laboratories, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Abcam plc (U.K.), Cell Signaling Technology, Inc. (U.S.), and Bio SB Inc. (U.S.).
Mr. Shelly Singh