Immunohistochemistry Market size to record USD 1.33 billion growth from 2024-2028, Automation and technological advancements in immunohistochemistry processes is one of the key market trends, Technavio
NEW YORK, April 16, 2024 /PRNewswire/ -- The global immunohistochemistry market size is estimated to grow by USD 1.33 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 8.36% during the forecast period. The Immunohistochemistry (IHC) market is evolving due to automation and digitalization, offering benefits such as accuracy, consistency, and improved workflow. Automated IHC systems ensure uniform staining and standardized incubation times, reducing errors and enhancing reproducibility. Integration with digital pathology platforms is a major advancement. Key players include Leica Biosystems, Danaher Corporation, Akoya Biosciences, and Roche. Applications include cancer diagnostics, drug development, and research. IHC is crucial for chronic diseases, infectious diseases, and personalized medicine. Antibodies, reagents, and equipment are essential components. Reimbursement policies and diagnostic accuracy are significant factors.
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Innovation Sparks Market Growth:
The Immunohistochemistry (IHC) market is experiencing significant growth due to automation and digitalization. Patent analysis reveals innovations in digital pathology, IVD equipments, and automated IHC systems from companies like Leica Biosystems, Danaher Corporation, and Akoya Biosciences. These advancements offer standardization, improving diagnostic accuracy for cancer diseases and chronic conditions. Healthcare professionals benefit from increased throughput capabilities, enabling simultaneous processing in high-volume research and diagnostics. Digital IHC and multiplex IHC integrate with companion diagnostics for personalized medicine, particularly in immunotherapy trials for therapeutic significance. Cancer incidence, infectious diseases, and cardiovascular diseases drive market demand. Antibodies, reagents, equipment, kits, and disposable income fuel market growth. Reimbursement policies and viral epidemics impact market trends. Monkeypox and ischemic heart disease are among the many applications for IHC tests, immunofluorescence assays, and antigen-antibody interactions.
Addressing Challenges:
The Immunohistochemistry (IHC) market in Academic and Research settings faces challenges due to high costs. Factors include expensive reagents, such as high-quality antibodies and antibody fragments, like monoclonal antibodies, and laboratory consumables. Equipment, including automated platforms and imaging systems, also contributes to the expense. Diagnostic laboratories and research organizations grapple with these costs, limiting the frequency and size of IHC experiments. Despite these challenges, IHC's diagnostic accuracy and therapeutic significance in chronic diseases, such as cancer, cardiovascular diseases, and infectious diseases, including COVID-19 and monkeypox, warrant continued investment. Companion diagnostics and immunotherapy trials further emphasize IHC's role in personalized medicine. Reimbursement policies and disposable income influence market growth. IHC's application in detecting antigen-antibody interactions in geriatric populations and diagnostic testing for ischemic heart disease, stroke, and cancer underscores its importance.
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Analyst Review
The Immunohistochemistry (IHC) market encompasses the development, production, and sale of essential tools and technologies for healthcare professionals in diagnostic laboratories. Key players in this sector include Leica Biosystems, a subsidiary of Danaher Corporation, and Akoya Biosciences. IHC tests play a crucial role in cancer diagnosis and research, utilizing monoclonal antibodies and antibody fragments for diagnostic accuracy. Companies like Roche also contribute to the market with IVD equipments and standardization efforts in digital pathology. Multiplex IHC and immunofluorescence assays expand the therapeutic significance of IHC in immunotherapy trials for various cancer diseases and infectious diseases. The market's growth is influenced by the increasing cancer incidence and disposable income, driving demand for advanced diagnostic testing and research organizations.
Market Overview
The Immunohistochemistry (IHC) market represents a significant segment in the diagnostic industry. This technique involves the application of antibodies to tissue sections for the detection and visualization of specific antigens. The market for IHC is driven by the increasing demand for accurate and early disease diagnosis, as well as the growing adoption of personalized medicine. Companies in this market offer a range of products, including primary and secondary antibodies, conjugates, and detection systems. The market is also witnessing the development of advanced technologies, such as multiplex IHC and automated staining systems, which offer improved efficiency and accuracy. The IHC market is expected to grow at a steady pace in the coming years, driven by these factors and the increasing focus on research and development in the field of diagnostic technologies.
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Key Companies:
Immunohistochemistry Market is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Immunohistochemistry Market report includes information on the product launches, sustainability, and prospects of leading vendors including Agilent Technologies Inc., Bio Rad Laboratories Inc., Bio SB, Bio Techne Corp., Biocare Medical LLC, BioGenex Laboratories Inc., CANDOR Bioscience GmbH, Cell Signaling Technology Inc., Danaher Corp., Eagle Biosciences Inc., Elabscience Biotechnology Inc., F. Hoffmann La Roche Ltd., Lunaphore Technologies SA, Merck KGaA, Miltenyi Biotec B.V. and Co. KG, PerkinElmer Inc, PHC Holdings Corp., SAKURA SEIKI Co. Ltd., Takara Holdings Inc., Thermo Fisher Scientific Inc.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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