The Immunohistochemistry Market is estimated to be valued at US$ 1560.2 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Immunohistochemistry is a technique used to detect antigens or antibodies in cells of a tissue section by exploiting the principle of antibodies binding specifically to antigens in biological tissues. This technique is widely employed in disease diagnosis as it aids visualization of the distribution of antigens and cellular markers in tissues. It helps diagnose infectious diseases, cancers, and measure certain hormone levels. The market is driven by growing applications of immunohistochemistry in disease diagnosis, research areas, and drug development.
Market Dynamics:
Increased incidence and prevalence of cancer worldwide has been a major factor driving the growth of the immunohistochemistry market. As per World Cancer Research Fund International, cancer burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. Immunohistochemistry provides an effective method for cancer diagnosis by identifying the specific markers and receptors expressed by tumor cells. Moreover, growing R&D initiatives and clinical trials for developing novel cancer therapeutics also augment the demand for immunohistochemistry techniques. Another key driver has been increasing preference for personalized medicine. Immunohistochemistry facilitates developing targeted treatment approaches for diseases like cancer based on the specific biomarkers expressed in a patient’s tumor cells. This encourages pharmaceutical manufacturers to invest more in immunohistochemistry development.
Segment Analysis
The global Immunohistochemistry market is dominated by the antibody segment. Antibodies such as primary and secondary antibodies form an essential part of the immunohistochemistry process, which helps in detecting and localizing antigens in cells and tissues under a microscope. Antibodies are designed to bind only to a specific antigen and deliver desired results with high sensitivity and specificity. Antibodies make immunohistochemistry techniques reliable and accurate.
PEST Analysis
Political: Government regulations regarding usage of immunohistochemistry for disease diagnosis and research promote the growth of this market. However, stringent approval processes increase development costs.
Economic: Rising healthcare spending on disease diagnosis and treatment boosts market growth. However, the high cost of proprietary kits and reagents limits its use in resource-limited settings.
Social: Increasing prevalence of chronic and infectious diseases raises demand for accurate disease diagnosis using immunohistochemistry techniques. However, limited awareness in developing nations act as a challenge.
Technological: Advancements in optics and imaging solutions have improved detection capabilities and multiplexing abilities of immunohistochemistry. Automation and digital pathology also enhance workflow efficiency.
Key Takeaways
The Global Immunohistochemistry Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing prevalence of chronic and infectious diseases. The rising demand for cancer diagnosis is a major driver for market growth.
Regionally, North America dominates the global immunohistochemistry market owing to developed healthcare infrastructure, high awareness, and significant funding for research. However, Asia Pacific is anticipated to grow at the fastest pace during the forecast period due to increasing healthcare spending and improving research capabilities in emerging countries.
Key players operating in the immunohistochemistry market are Merck KGaA, Rockland Immunochemicals, Inc., F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, PerkinElmer, Inc., Bio-Rad Laboratories, Inc., Cell Signaling Technology, Inc., Bio SB, Agilent Technologies, Inc., Abcam plc., Becton, Dickinson and Company, Miltenyi Biotec, Biocare Medical, LLC, Eagle Biosciences, Inc., Bio-Techne, Diagnostic Biosystems, Inc., and BioGenex. These players are focused on new product launches, facility expansions and partnerships to strengthen their global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
