Immunohistochemistry (IHC) Market worth $3.3 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 11, 2021 /PRNewswire/ -- According to the new market research report "Immunohistochemistry (IHC) Market by Product (Antibodies, Reagents, Equipment, Kits), Application (Diagnostics (Cancer, Infectious, Autoimmune Diseases), Research, Forensic), End user (Hospitals, Diangostic labs, Academia) - Global Forecast to 2026", published by MarketsandMarkets™, the global IHC Market is projected to reach USD 3.3 billion by 2026 from USD 2.3 billion in 2021, at a CAGR of 7.7% during the forecast period.
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IHC Market growth is largely driven by the rising geriatric population and subsequent growth in prevalence of chronic and infectious diseases, technological advancements in IHC, and availability of reimbursements for IHC tests. However, the high degree of consolidation in the by the major market players is expected to restrain the growth of this market during the forecast period.
The Kits product segment accounted for the highest growth rate in the immunohistochemistry market, by product, during the forecast period.
In 2020, the Kits product segment accounted for the share of around 12% of the immunohistochemsitry market. The demand for complete solutions from a single provider, like closed-system reagents with calibrated measurements of the required quantity of reagents and controls among diagnostic laboratories, hospitals, research institutes, and other end users, is growing. Moreover, ready-to-use kits simplify the IHC process by rectifying the initial time-consuming selections of primary antibodies and appropriate stains. This is fueling the growth of the immunohistochemistry kits market.
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.
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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 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.
Asia Pacific: The fastest-growing region in the immunohistochemistry market.
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 ihc market in APAC.
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Prominent players operating in the global immunohistochemistry market include F. Hoffman-La Roche AG (Switzerland), Danaher Corporation (US), and Agilent Technologies, Inc. (US).
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