Immunohistochemistry (IHC) Market worth $4.7 billion | MarketsandMarkets

CHICAGO, June 9, 2023 /PRNewswire/ -- The immunohistochemistry (IHC) industry is poised for remarkable growth and advancements in the near future. With increasing demand for precise and personalized diagnostics, coupled with ongoing developments in technology and biomarker research, the IHC market is set to witness significant expansion. Immunohistochemistry techniques enable the visualization and analysis of specific antigens within tissue samples, providing critical information for disease diagnosis, prognosis, and treatment selection. In the coming years, the industry will experience advancements in antibody specificity, sensitivity, and multiplexing capabilities, allowing for more accurate and comprehensive analysis of tissue specimens. Moreover, the integration of artificial intelligence (AI) algorithms and machine learning techniques will streamline the interpretation and analysis of IHC results, enhancing efficiency and reducing subjectivity. The adoption of digital pathology and telepathology solutions will further facilitate remote collaboration, consultation, and data sharing among pathologists and researchers worldwide. Additionally, the expanding application of IHC in areas such as oncology, neuroscience, immunology, and infectious diseases will contribute to the market's growth. As a result, the IHC industry will play a pivotal role in advancing precision medicine, improving patient outcomes, and driving scientific discoveries in the field of pathology in the near future.

Immunohistochemistry (IHC) Market in terms of revenue was estimated to be worth $3.2 billion in 2023 and is poised to reach $4.7 billion by 2028, growing at a CAGR of 7.4% from 2023 to 2028 according to a new report by MarketsandMarkets™. Market growth is largely driven by the increased population of geriatric and the increased incidence of cancer cases, technological advancement of IHC, and availability of reimbursements for IHC tests. However, the presence of alternative test, and the high degree of consolidation in the market by the major market players is expected to restrain the growth of this market during the forecast period.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=121632939

Browse in-depth TOC on "Immunohistochemistry (IHC) Market"
342 - Tables
48 - Figures
352 - Pages

Immunohistochemistry (IHC) Market Scope:

The Kits product segment accounted for the highest growth rate in the immunohistochemistry market, by product, during the forecast period

In 2022, the Kits product segment accounted for the highest growth rate of the immunohistochemistry market. The demand for complete solutions from a single reliable product provider, like closed-system reagents with calibrated measurements of the required test 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 rapidly increasing the growth of the immunohistochemistry kits market.

Forensics applications segment accounted for the smallest share of the application segment

Based on application, the IHC market is segmented into diagnostic, research, and forensic applications. The forensics application segment accounted for the smallest this market in 2022. In forensics, IHC can play an important role in determining the cause of death. Immunohistochemistry carried out on post-mortem samples helps in determining age-related brain disease (Alzheimer's, strokes) and trauma (often accidental, from falls) and their respective roles in the cause of death. However, its applications in forensic pathology are generally limited to ruling in or out natural disease. This is due to degradation of tissue of a body where the time from death to autopsy is several days.

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 of the IHC market in 2022. The growing number of specialty diagnostic tests performed in hospital laboratories, the increasing number of in-house diagnostic procedures in hospitals, and the rising 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, Latin America, Middle East & Africa. APAC is expected to register the fastest growth rate during the forecast period. The economic growth in the countries of this region, large population base, the rising prevalence of chronic diseases, the rising standard of living, growing demand for quality medical care, increasing healthcare spending, increasing government initiatives, and rising awareness regarding the use of IHC test are the major factors driving the growth of the Immunohistochemistry market in the Asia Pacific region.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=121632939

Immunohistochemistry (IHC) Market Dynamics:

Drivers:

1. Rising geriatric population and subsequent growth in prevalence of chronic and infectious diseases
2. Technological advancements in IHC
3. Availability of reimbursements for IHC tests

Restraints:

1. High degree of consolidation

Opportunities:

1. Increasing demand for personalized medicine
2. Growing significance of companion diagnostics
3. Growth opportunities in emerging countries

Challenges:

1. Dearth of skilled professionals
2. Product failures and recalls

Key Market Players:

Prominent players operating in the global immunohistochemistry market include F. Hoffman-La Roche AG (Switzerland), Danaher Corporation (US), and Agilent Technologies, Inc. (US).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=121632939

Recent Developments:

• In February 2023, F. Hoffman-La Roche AG (Switzerland) launched IDH1 R132H (MRQ-67) Rabbit Monoclonal Antibody and the ATRX Rabbit Polyclonal Antibody for use in BenchMark series of instrument for detection of brain cancer.
• In October 2022, F. Hoffman-La Roche AG (Switzerland) received US FDA approval for PATHWAY anti-HER2/neu (4B5) Rabbit Monoclonal Primary Antibody use as companion diagnostic test to identify metastatic breast cancer patients with low HER2 expression.
• In April 2023, Danaher Corporation (US), subsidiary Leica Biosystems received FDA clearance for BOND MMR Antibody Panel, for detection of colorectal cancer.
• In November 2022, Danaher Corporation (US), subsidiary Leica Biosystems Nussloch GmbH acquired Cell IDx, Inc. an immunodiagnostic company offering chromogenic and fluorescent multiplex IHC biomarker profiling products.
• In January 2023, Agilent Technologies, Inc. (US) signed a partnership deal with Akoya Biosciences for developing chromogenic and immunofluorescent multiplex assays. These assays will be used for immunohistochemistry diagnostic solutions.

Immunohistochemistry (IHC) Market Advantages:

• Accurate and Specific Diagnosis: IHC techniques provide high specificity and sensitivity in detecting specific antigens within tissue samples. This enables precise and accurate diagnosis of various diseases, including cancers, infectious diseases, autoimmune disorders, and neurological conditions. IHC helps pathologists identify and characterize specific biomarkers, facilitating targeted therapies and personalized treatment plans.
• Comprehensive Tissue Analysis: IHC allows for a comprehensive analysis of tissue samples, providing insights into cellular localization, protein expression, and tissue architecture. This information is crucial in understanding disease mechanisms, predicting patient outcomes, and determining optimal treatment strategies. IHC enables pathologists and researchers to assess biomarker expression patterns, tumor heterogeneity, and immune cell infiltration within the tissue microenvironment.
• Quantitative and Qualitative Data: Immunohistochemistry techniques provide both quantitative and qualitative data. By evaluating the intensity, distribution, and localization of protein expression, IHC enables the measurement of biomarker levels and the identification of cellular interactions within tissues. This quantitative and qualitative data aids in research, clinical decision-making, and drug development.
• Complementary to Molecular Techniques: IHC is often used in conjunction with molecular techniques, such as polymerase chain reaction (PCR) and fluorescence in situ hybridization (FISH). By combining these methods, IHC can validate molecular findings, confirm genetic alterations, and provide visual confirmation of molecular changes in tissue samples. This integration enhances the reliability and accuracy of diagnostic and research findings.
• Research and Drug Development: The IHC market plays a vital role in research and drug development. It enables researchers to investigate protein expression patterns, validate potential drug targets, and assess therapeutic responses in preclinical and clinical studies. IHC helps identify novel biomarkers, evaluate drug efficacy, and monitor treatment outcomes, accelerating the development of targeted therapies and precision medicine approaches.
• Prognostic and Predictive Value: Immunohistochemistry has proven to be valuable in predicting patient outcomes and prognosis. By evaluating specific biomarkers associated with disease progression, metastasis, or treatment response, IHC assists in risk stratification, treatment selection, and monitoring disease recurrence. This prognostic and predictive information aids clinicians in making informed decisions and optimizing patient care.
• Standardization and Automation: The IHC market has seen advancements in standardization protocols and automation technologies, improving consistency, reproducibility, and workflow efficiency. Standardized staining protocols, automated slide processing, and digital imaging systems enhance the reliability and scalability of IHC techniques. This promotes consistency across laboratories, reduces inter-laboratory variability, and facilitates data sharing and collaboration.

Overall, the immunohistochemistry market offers significant advantages in accurate diagnosis, comprehensive tissue analysis, quantitative and qualitative data generation, synergy with molecular techniques, research and drug development, prognostic value, and standardization. These advantages contribute to its widespread adoption in clinical diagnostics, research laboratories, and pharmaceutical companies, ultimately leading to improved patient care, personalized medicine, and advancements in biomedical research.

Immunohistochemistry (IHC) Market - Report Highlights:

• Changes in the market scope: The existing report includes an analysis of the impact of recession on the overall immunohistochemistry market.
• New and improved representation of financial information: The new edition of the report provides updated financial information till 2022 for each listed company in a graphical representation in a single diagram (instead of multiple tables). This would help in the easy analysis of the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, and business segment focus in terms of the highest revenue-generating segment.
• Recent market developments: Recent developments are helpful to know the market trends and growth strategies adopted by players in the market.
• Latest product portfolio: Tracking product portfolios helps analyze the immunohistochemistry product offerings in the market. The new edition of the report provides an updated product portfolio of the companies profiled in the report.
• The new version of the report includes the ranges/scenarios, pricing analysis, value chain analysis, an ecosystem of the market, technology analysis, patent analysis, trends and disruptions impacting customers, Porter's five forces analysis, a region-wise regulatory landscape, key buying criteria analysis.
• Regional level (country-wise) market data has been added wherever applicable for the segments and subsegments of the market.
• Company evaluation quadrant: This new section is an output of a comprehensive study of the key vendors offering products in the immunohistochemistry market.
• Market evaluation framework, market share analysis, and competitive leadership mapping have been updated in the competitive landscape chapter of the report.
• The current edition of this report provides updated financial information/product portfolios of players and updated developments of profiled players from January 2020 to May 2023.
• In the earlier version of the report, 25 companies were profiled. In the updated version, a total of 27 companies have been profiled.
• The competitive landscape chapter has been updated with the market evaluation matrix and start-up/SME evaluation matrix. The competitive landscape also includes market share and revenue analysis, updated competitive leadership mapping, competitive mapping of Start up and SME's, and competitive situations and trends.

Related Reports:

Immunoassay Market - Global Forecasts to 2027

In Vitro Diagnostics Market - Global Forecasts to 2027

Tissue Diagnostics Market - Global Forecasts to 2027

Cancer Diagnostics Market - Global Forecasts to 2026

Anatomic Pathology Market - Global Forecasts to 2026

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/immunohistochemistry-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/immunohistochemistry.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg 

SOURCE MarketsandMarkets