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(Health-NewsWire.Net, November 23, 2021 ) According to the new market research report "Immunohistochemistry Market by Product (Antibodies, Reagents (Chromogenic Substrates), Kits), Application (Diagnostics (Cancer, Infectious), Research, Forensic), End User (Hospitals, Diagnostic Laboratories, Academic) - Global Forecast to 2025", published by MarketsandMarkets™, the Immunohistochemistry Market is projected to reach USD 2.7 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 6.6% during the forecast period.
The increasing incidence and prevalence of cancer, technological advancements in IHC, and the availability of reimbursement for IHC tests are the major factors driving the growth of this market.
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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 antibodies segment accounted for the largest share in 2020
Based on product, the IHC market is segmented into antibodies, reagents, equipment, and kits. In 2020, the antibodies segment accounted for the largest share of 45.5% of the IHC market. Antibodies and Kits segment are seen to be the leading segments with respect to growth rate during the forecast period as a result of rapid development in the field of immunohistochemistry which has subsequently boosted the research and development of various antibodies in the past decade. Furthermore, antibodies are important diagnostic and therapeutic agents in immunology. Rising demand for complete solutions from a single provider and the advantage of simplification of IHC process is fuelling the growth of Kits segment.
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 specialty 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.
North America was the largest regional market for immunohistochemistry market in 2020.
Based on the region, the immunohistochemistry market is broadly segmented into North America, Europe, Asia-Pacific and 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.
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Key Market Players
Key players operating in the global immunohistochemistry market include F. Hoffman-La Roche AG (Switzerland), Danaher Corporation (US), and Agilent Technologies, Inc. (US).
Recent Developments
- In August 2021, Roche received FDA approval for VENTANA MMR RxDx companion diagnostic test based on immunohistochemistry for solid tumors that are deficient in the MMR pathway. The test identifies patients eligible for GSK’s anti-PD1 immunotherapy, JEMPERLI.
- In August 2021, Agilent received a CE-IVD mark in Europe for its PD-L1 IHC 22C3 pharmDx assay for the identification of oesophageal cancer patients for treatment with KEYTRUDA.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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