Global Immunohistochemistry (IHC) Market Size & Share to Surpass $3.7 Billion by 2030 | Vantage Market Research

WASHINGTON, May 16, 2023 (GLOBE NEWSWIRE) -- Global Immunohistochemistry Market is valued at USD 2.1 Billion in 2022 and is projected to reach a value of USD 3.7 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.6% over the forecast period 2023-2030.

Market Overview

An increase in the incidence of chronic diseases and an increase in the elderly population in developed countries are the main reasons fueling the Immunohistochemistry Market's expansion. Also, the rise in regulatory outsourcing, pharma & biotech company collaboration, and the expansion of Immunohistochemistry research & development activities drive the market's growth.

We forecast that the antibodies category in Immunohistochemistry market sales will account for more than 40% of the market share by 2030 as a result of a rise in the use of primary and secondary antibodies in disease diagnosis immunohistochemical tests.

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Market Dynamics

Growing Prevalence of Cancer will Support Market Expansion
A sizeable portion of this market can be attributed to the rising incidence of cancer and the extensive use of Immunohistochemistry in diagnosing infectious diseases, cardiovascular conditions, and other illnesses. Cancer is a general term that covers any illness that can affect any bodily component, according to World Health Organization 2022. Malignant tumors and neoplasms are some more terminologies utilized. With an anticipated, 10 million fatalities from the disease in 2020, or roughly one in every six, cancer will be the leading cause of death globally. Breast, lung, colon, rectum, and prostate cancers are the most prevalent. Alcohol consumption, smoking, high body mass index, eating few fruits and vegetables, and not exercising all contribute to about one-third of cancer-related fatalities.

Rising Demand for Use of Personalized Medicine to Boost Market Expansion
The amazing success of customized medicine in treating patients with non-small-cell lung cancer predicts that its use will increase. The most extensive and precise histological subtyping of tumors is accomplished using Immunohistochemistry techniques, which supports this type of treatment decision-making. Molecular testing can be replaced and supplemented with the rising availability of immunohistochemical assays that recognize mutant proteins. These techniques are highly reproducible, involve a tolerable level of technical and interpretative complexity, and are relatively less expensive, making them valuable new instruments in today's cancer treatment. Multiplex and mutation-specific immunohistochemical assays have significantly contributed to personalized medicine and targeted therapy.

Top Players in the Global Immunohistochemistry Market

• Thermo Fisher Scientific Inc. (U.S.)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Merck KgaA (Germany)
• Danaher Corporation (U.S.)
• PerkinElmer Inc. (U.S.)
• Bio-Rad Laboratories Inc. (U.S.)
• Cell Signaling Technology Inc. (U.S.)
• Bio SB (U.S.)
• Abcam PLC (UK)
• Agilent Technologies Inc. (U.S.)
  
  

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Top Trends in Global Immunohistochemistry Market

• One trend that Vantage Market Research (VMR) expects to see in the Immunohistochemistry industry is the growing elderly population. The rapidly expanding global geriatric population is expected to increase the prevalence of age-related disorders significantly. Other industrialized economies around the world have substantial and growing elderly populations. With age, the likelihood of developing infections increases correspondingly. As a result, it is projected that as the global geriatric population increases, so will the prevalence of numerous diseases.
  
  
• Another trend that VMR predicts will continue in the Immunohistochemistry industry is the introduction of novel Immunohistochemistry goods. The leading players are creating innovative items that should drive market expansion. Introducing these clinical diagnostic markers would advance immuno-early-stage oncology's medication development for cancer treatment. Due to increased R&D, the market would grow more quickly throughout the projection period.
  
  

Top Report Findings

• The Antibodies category controls most of the Immunohistochemistry market's revenue based on product due to their ongoing use in Immunohistochemistry procedures for medical testing and disease diagnosis. The market's most significant product category now includes therapeutic monoclonal antibodies as well as antibody-associated items such antibody-drug conjugates, Fc-fusion proteins, and antibody fragments.
  
  
• Based on the Application, the Diagnostics category controls most of the Immunohistochemistry market's revenue. The prevalence of these chronic diseases is increasing globally, which is driving up the demand for accurate and quick diagnoses and driving up the growth of the diagnostics industry.
  
  
• Based on End-Use, most of the Immunohistochemistry market's revenue is controlled by Hospitals & Diagnostic Laboratories categories as a result of the expansion in demand for illness diagnosis brought on by the increase in the frequency of chronic illnesses.
  
  

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Recent Developments in the Global Immunohistochemistry Market

• September 2022: The Anti-PRAME (EPR 20330) Rabbit Monoclonal Primary Antibody was developed by Roche to identify the expression of the PRAME protein in tissue samples from patients with probable melanoma.
• February 2022: A long-term strategic alliance between Thermo Fisher Scientific and Moderna was announced. Dedicated large-scale manufacturing of Spikevax, Moderna's COVID-19 vaccine, and other investigational mRNA medicines in its pipeline will be possible in the United States thanks to a 15-year strategic collaboration agreement announced today by Thermo Fisher Scientific Inc., the world leader in serving science, and Moderna, Inc. a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines.
  
  

Hospitals & Diagnostic Laboratories Category of the End Use Segment of the Global Immunohistochemistry Market Forecast to Generate Over Half the Total Segment Revenue
For better understanding, based on the End-Use, the Immunohistochemistry market is divided into Hospitals & Diagnostic Laboratories, Research Institutes and Other End Use.

It is expected that the Hospitals & Diagnostic Laboratories segment will dominate the market for Immunohistochemistry. Many IHC tests performed in hospital settings were blamed for this rise. In addition, since the healthcare sector has undergone an ongoing transformation, so has the demand for hospitals with cutting-edge amenities. This is also anticipated to increase the segment's revenue flow.

On the other hand, the Research Institutes category is anticipated to be the fastest growing category in the Immunohistochemistry market. This is because the method has a number of advantages over staining methods that are often employed in pharmaceutical research and development. For instance, Cell Signaling Technologies offers a human-specific IHC-approved VISTA rabbit monoclonal antibody for scientific research. The growth can also be due to research institutes' widespread use of IHC techniques for drug testing.

North America Region of the Global Immunohistochemistry Market Forecast to Generate a Substantial Amount of the Global Revenue
North America dominates the market throughout the projection period. The presence of significant market participants, the ease with which IHC solutions are accessible, the increased use of technologically advanced IHC instruments, and the arrival of newer IHC solutions are important factors influencing the growth of the regional market. For instance, PathAI, a U.S.-based developer of AI-powered technology for pathological applications, presented a machine learning-based quality control tool at the American society of clinical oncology virtual scientific programme in June 2021. The tool was created for HER2 testing in breast cancer.

The Asia Pacific is expected to be the fastest growing region in the Immunohistochemistry market. The multinational players' increased geographic presence in the Asian markets is mostly to blame. Furthermore, a huge patient base in nations like China and India offers many clinical subjects for IHC R&D tests, which boosts income. Further factors influencing the growth of the Asia-Pacific Immunohistochemistry Industry are the increased prevalence of chronic diseases and the rapid population ageing. The WHO also predicts a 50% increase in CVD yearly occurrences for China between 2023 and 2032.

Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Immunohistochemistry Market Forecast Report (2023-2030).              

Global Immunohistochemistry Market Segmentation

By Product

• Antibodies
• Equipment
• Reagents
• Kits
  
  

By Application

• Diagnostics
• Drug Testing
• Forensic Applications
  
  

By End-Use

• Hospitals & Diagnostic Laboratories
• Research Institutes
• Other End Uses
  
  

By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of MEA
    
    

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