NEWARK, Del, July 13, 2023 (GLOBE NEWSWIRE) -- The Global Immunohistochemistry (IHC) Market size is expected to reach a worth of nearly US$ 2.1 billion in 2023 due to its rapid expansion. The demand for immunohistochemistry is anticipated to increase significantly during the next several years with a projected CAGR of 8.8% from 2023 to 2033. By 2033, this market worldwide is anticipated to grow even further, reaching a value of US$ 4.9 billion.
Pathology and molecular biology both make extensive use of the method of immunohistochemistry to reveal important details about cellular makeup, operations, and pathological states. So, immunohistochemistry is widely used in biomedical research in several fields, including cancer research, medication development, and diagnostic pathology.
The effectiveness and precision of immunohistochemistry have increased through technological and automated improvements making it affordable and practical for a range of clinical applications. Furthermore, the procedure has been streamlined, and turnaround time has been decreased, with automated platforms, multiplex staining methods, and digital imaging systems.
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Demand for biomarker evaluation is expanding with the increased focus on targeted medicines and the requirement for accurate patient categorization based on molecular profiling. So, it is anticipated that the need for immunohistochemistry -based diagnostics might be driven by the growing elderly population vulnerable to chronic illnesses. On top of that, the market is expanding as a result of rising awareness of early illness detection and the value of correct diagnosis.
Key Takeaways from this Market Study:
- Geographically, the United States controlled 38.8% of the global market in 2022 because of the region's developed healthcare infrastructure, and high healthcare spending.
- The demand for immunohistochemistry-based diagnostics in the United Kingdom is being fueled by the rising prevalence of chronic illnesses and the growing elderly population. However, over the next ten years, this regional market is anticipated to witness an annual average growth rate of only 3.9%.
- FMI projects that the Asia Pacific region could see substantial development in the adoption of immunohistochemistry, mostly because of the region's expanding healthcare infrastructure. Particularly, China and India have increased investments in the biotechnology and pharmaceutical industries, and are expected to witness 9.3% and 8.7% CAGRs through 2033 respectively.
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Recent Developments by the Immunohistochemistry Market Players:
- The debut of Abcam, PLC's new line of immunohistochemistry primary antibodies was announced in June 2023. The company claims the purpose of these antibodies is to enhance the identification of particular proteins in tissue samples.
- A new series of automated immunohistochemistry kits from DakoEnVision Company was introduced by Merck KGaA in May 2023. These improved kits are designed and intended to increase the IHC testing's sensitivity and specificity.
- Agilent Technologies Incorporation, a manufacturer of automated immunohistochemistry systems, announced in March 2023 that it had acquired Amnis Corporation. Agilent now can access new customers and diversify its IHC product line after this purchase.
- Thermo Fisher Scientific Incorporation declared the release of their new PathXL immunohistochemistry software in April 2023. This new program is intended to make it easy for pathologists to correctly interpret immunohistochemistry data.
- F. Hoffmann-La Roche AG declared the release of its brand-new Ventana Benchmark XT automated IHC system in February 2023. The system's prominent role is to increase the precision and effectiveness of immunohistochemistry diagnostics or testing.
The top 9 Key Players Involved are:
- Thermo Fisher
- F. Hoffmann-La Roche
- Merck
- Danaher
- PerkinElmer
- Bio-Rad Laboratories
- Bio SB
- Agilent Technologies
- Abcam
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Key Segmentation:
By Product:
- Antibodies
- Primary Antibodies
- Secondary Antibodies
- Equipment
- Slide Staining System
- 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
By Application:
- Diagnostics
- Cancer
- Infectious Diseases
- Cardiovascular Diseases
- Autoimmune Diseases
- Diabetes Mellitus
- Nephrological Diseases
- Drug Testing
By End Use:
- Hospitals & Diagnostic Laboratories
- Research Institutes
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacifica
- The Middle East and Africa
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