Global Immunohistochemistry Market to Reach US$ 4.9 Billion by 2032, Impelled by Increasing Product Demand for Effective Drug Development

December 08, 2022 | Healthcare

According to the latest report by IMARC Group, titled "Immunohistochemistry Market Report by Product (Antibodies, Equipment, Reagents, Kits), Application (Diagnostics, Drug Testing), End Use (Hospitals and Diagnostic Laboratories, Research Institutes, and Others), and Region 2024-2032," the global immunohistochemistry market size reached US$ 2.6 Billion in 2023. Immunohistochemistry is a laboratory method that uses antibodies to check for specific antigens in a tissue sample. These antibodies are usually linked to an enzyme or a fluorescent dye. It plays a crucial role in pathology, particularly in oncologic pathology, neuropathology, and hematopathology subspecialties. It is used to help diagnose various chronic diseases. It is also employed to differentiate between different types of cancers. Immunohistochemistry is extensively utilized in research activities to understand the distribution and localization of biomarkers as well as differentially expressed proteins in other parts of biological tissue.

Global Immunohistochemistry Market Trends:

The global market is majorly driven by the introduction of technologically advanced Immunohistochemistry solutions. In line with this, the rising implementation of automation and machine learning in IHC is creating a positive outlook for the market. Furthermore, rapid advancements in IHC protocols have catalyzed its demand in disease diagnosis. Apart from this, the increasing prevalence of chronic diseases and the growing geriatric population are significantly contributing to the market. Moreover, the numerous collaborations between regulatory outsourcing and pharmaceutical and biotechnology companies are positively influencing the market. Besides, the shifting preference for value-based healthcare solutions and the augmenting demand for targeted immunotherapy and biologic therapy in anticancer drug development are propelling the market. Additionally, the increasing incidences of cancer, neurodegenerative disorders, and tumors are providing a boost to the market. Other factors, including the launch of new products, acquisition and collaboration by key market players, and the growing number of diagnostic centers, are further expected to drive the market growth. On account of the factors above, the market is anticipated to reach a value of US$ 4.9 Billion by 2032, exhibiting a CAGR of 6.8% during 2024-2032.

Market Summary:

On the basis of the product, the market has been categorized into antibodies (primary antibodies and secondary antibodies), equipment (slide staining systems, tissue microarrays, tissue processing systems, slide scanners, and others), reagents (histological stains, blocking sera and reagents, chromogenic substrates, fixation reagents, stabilizers, organic solvents, proteolytic enzymes, and diluents), and kits.
Based on the application, the market has been classified into diagnostics (cancer, infectious diseases, cardiovascular diseases, autoimmune diseases, diabetes mellitus, and nephrological diseases) and drug testing.
Based on the end use, the market has been categorized into hospitals and diagnostic laboratories, research institutes, and others.
On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Abcam plc, Agilent Technologies Inc., Beckman Coulter Inc. (Danaher Corporation), Becton Dickinson and Company, Bio SB Inc., Bio-Rad Laboratories Inc., Bio-Techne Corporation, Cell Signaling Technology Inc., F. Hoffmann-La Roche AG, Merck KGaA, Perkinelmer Inc. and Thermo Fisher Scientific Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product, Application, End Use, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Abcam plc, Agilent Technologies Inc., Beckman Coulter Inc. (Danaher Corporation), Becton Dickinson and Company, Bio SB Inc., Bio-Rad Laboratories Inc., Bio-Techne Corporation, Cell Signaling Technology Inc., F. Hoffmann-La Roche AG, Merck KGaA, Perkinelmer Inc. and Thermo Fisher Scientific Inc.
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Global Immunohistochemistry Market to Reach US$ 4.9 Billion by 2032, Impelled by Increasing Product Demand for Effective Drug Development

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