The global immunohistochemistry market size is estimated to reach a value of USD 3.1 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to witness a revenue-based CAGR of 8.8% over the forecast period. High prevalence of cancer and increasing healthcare expenses driven by expanding aging population base are recognized as the most influential factors driving the market.
Cancer has high morbidity and mortality risk. Diagnosis of this disease majorly depends on the stage of the disease at admission. This has led to high demand of immunohistochemistry (IHC) products. IHC staining process is performed on cancer tissues to reveal the presence of HER2 receptors and/or hormone receptors on their surface. This information plays a vital role in planning cancer treatment. This factor is anticipated to drive demand in near future. In addition, rising popularity of targeted immunotherapy and biologic therapy for anticancer drug development and increasing Food and Drug Administration (FDA) approvals are expected to boost market growth in near future.
Significant rise in healthcare spending and shift in focus on value-based healthcare solutions can further impel growth of the immunohistochemistry market over the forecast period. According to the Centers of Medicare & Medicaid Services (CMS) projections, the National Health Expenditure is anticipated to rise at an average of 5.5% every year from 2017 to 2026. It is expected to reach around USD 5.7 trillion by 2026. Hospitals and care facilities are adopting a more specific and targeted therapy for better outcomes and to establish a move value-based healthcare delivery.
Full Research Report On Immunohistochemistry Market Analysis:www.grandviewresearch.com/industry-analysis/immunohistochemistry-ihc-market
Further key findings from the study suggest:
Antibody segment accounted for the largest market share due to rising regulatory approvals for therapeutic antibody products
North America registered the highest CAGR in 2017 owing to well-established healthcare infrastructure and favorable reimbursements
APAC is expected to witness the fastest CAGR owing to increasing healthcare expenses and aging population
Diagnostics segment dominated the immunohistochemistry market in 2017 owing to high prevalence of cancer and other such chronic diseases
Hospitals and diagnostic laboratories is anticipated to exhibit significant CAGR over the forecast period due to increasing disease prevalence and high number of these facilities with advanced infrastructure
Some of the key market players are Abcam plc; Agilent Technologies; Bio-Rad Laboratories, Inc.; Cell Signaling Technology, Inc.; Danaher Corporation; Merck KGaA; PerkinElmer, Inc.; and Thermo Fisher Scientific, Inc.
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Grand View Research has segmented the global immunohistochemistry market on the basis of product, application, end use, and region:
Immunohistochemistry Product Outlook (Revenue, USD Million, 2014 – 2025)
Antibodies
Primary Antibodies
Secondary Antibodies
Equipment
Slide Staining Systems
Tissue Microarrays
Tissue Processing Systems
Slide Scanners
Others
Reagents
Histological Stains
Blocking Sera and Reagents
Chromogenic Substrates
Fixation Reagents
Stabilizers
Organic Solvents
Proteolytic Enzymes
Diluents
Kits
Immunohistochemistry Application Outlook (Revenue, USD Million, 2014 – 2025)
Diagnostics
Cancer
Infectious Diseases
Cardiovascular Diseases
Autoimmune Diseases
Diabetes Mellitus
Nephrological Diseases
Drug Testing
Immunohistochemistry End Use Outlook (Revenue, USD Million, 2014 – 2025)
Hospitals and Diagnostic Laboratories
Research Institutes
Immunohistochemistry Regional Outlook (Revenue, USD Million, 2014 – 2025)
North America
U.S.
Canada
Europe
Germany
U.K.
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
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