The size of the global IHC market was worth USD 1.75 billion in 2020. It is forecasted to be growing at a CAGR of 7.4% to reach USD 2.5 Billion by 2025.
Immunohistochemistry is a staining procedure done on a fresh or stored cancer tissue removed during the biopsy. IHC is used to detect if the cancer cells have hormone receptors on their surface. IHC is majorly used for the diagnosis of cancers, especially tumor antibodies.
MARKET DRIVERS:
Growth in the prevalence of chronic diseases is one of the major factors driving the global immunohistochemistry (IHC) market.
Rising incidences of cancer and the increasing geriatric population worldwide are some major drivers for the growth of the immunohistochemistry market. Other factors that fuel market growth are increasing healthcare expenditure and improving healthcare infrastructure, thus leading to more hospitals and diagnostic laboratories day by day. The market is showcasing significant potential during the mentioned forecasting period. It will continue to grow with the recent developments in the medical sector.
The introduction of technologically advanced immunohistochemistry solutions and growing drug discovery & development activities are the major factors in developing the target market's growth. Rising approvals of products and introducing technologically advanced immunohistochemistry solutions for disease diagnosis further fuel the growth of the global immunohistochemistry market.
Whereas the involvement of major players to develop IHC solutions collaborating with the pharmaceutical drug manufacturers for developing and providing IHC companion diagnostic solutions for their immunotherapies is creating lucrative opportunities for the market's growth. Besides, awareness about these chronic diseases is anticipated to increase the demand for immunohistochemistry solutions contributing to market growth.
MARKET RESTRAINTS:
However, the lack of specificities associated with IHC techniques coupled with its high setup cost is the major restraints that limit the growth of the global immunohistochemistry market. Lack of specificity of IHC techniques for diagnosing some chronic diseases is the major challenge faced by the Immunohistochemistry market. Additionally, a considerable burden high setup cost of IHC equipment on hospitals and the diagnostic laboratories among the emerging economies are the other factors that are limiting the growth of the target market.
COVID-19 impact on the global immunohistochemistry market:
The COVID-19 adversely impacted the global economy in 2020. The World Health Organisation declared COVID-19 as a pandemic. Due to the virus's fast spread with human-to-human interactions, almost all countries had implemented the lockdown. Moreover, due to the pandemic, all countries had closed their borders, which adversely impacted the global economy in 2020. The lockdown had affected every aspect of the diagnostic industry, including IHC testing. The surgeons run an IHC test to give the best treatment for patients after conducting the surgeries. Due to the pandemic, the patient's visit to the hospitals and the number of elective surgeries and diagnostic tests has dramatically fallen, which had significantly diminished the sales of IHC products during the pandemic.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Segments Analysed |
By Application, Technology, Patient Care Setting & Region |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global immunohistochemistry market has been segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2025.
Immunohistochemistry Market – By Product:
Based on the product, the antibodies segment held accounted for most of the share in the global immunohistochemistry market. The mandatory use of antibodies in carrying out the immunohistochemistry diagnosis of various diseases like cancer, infectious diseases, and other diseases is the primary reason for antibody segment growth. The other reason that has boosted this segment is the rising usage of research antibodies for drug development.
Immunohistochemistry Market – By Application:
Based on the application, the diagnostic segment had accounted for the largest share of the Immunohistochemistry market in 2020. The growth of the market in this segment is attributed to the growing incidence & prevalence of cancer. Also, the burden of infectious diseases and the favorable reimbursement scenario for IHC tests is another factor growing the segment's share in the market.
Immunohistochemistry Market – By End User:
Based on the end-users, the Hospitals & Diagnostics Laboratories segment is the vital segment with the majority of the market's share due to technological advancements such as automated sample preparation and digital pathology, which have added considerable value. Also, the growing demand for disease diagnosis due to the rise in the incidence of chronic diseases is the other factor that has boosted the target market among this segment.
Immunohistochemistry Market – By Region:
Geographically, North America leads the global immunohistochemistry market because of advancements in the biotech market and commercialization. The North America Immunohistochemistry Market was valued at USD 530 million in 2020 and is estimated to grow at a CAGR of 7.6% to reach USD 760 million by 2025. The primary factor driving the growth of the target market in this region is the growing adoption of these immunohistochemistry instruments in laboratories & diagnostic centers. Also, a supportive reimbursement framework in countries like the US and Canada boosts the penetration of automated devices, promoting the growth of the target market in the region. Further, an increase in the incidence of cancer is driving the demand for these immunohistochemistry techniques. For instance, according to the American Cancer Society, in 2019, it is reported that 1,762,450 new cancer cases were diagnosed, and more than 606,880 cancer deaths in the United States.
However, the Immunohistochemistry market in the Asia-Pacific region is expected to increase during the forecast period. The Asia Pacific IHC Market was valued at USD 490 million in 2020 and is anticipated to reach USD 690 million at a CAGR of 7.2%by 2025. The rapid growth of the target market in this region is attributed to the economic development in countries like China, India, South Korea, and Singapore. Besides, the rapid growth of the aging population and the high prevalence of chronic diseases are the other factors that are fuelling the Asia-Pacific Immunohistochemistry Market development. Moreover, WHO estimates that the annual events of CVDs are predicted to rise by 50% in China between 2010 and 2030.
Europe is expected to grow at a higher rate in the coming years following the Asia Pacific. Constant economic growth and rising disposable income in urban areas are mainly propelling the market demand in this region.
Latin America and Middle East & Africa are to grow significantly in the forecast period.
KEY MARKET PARTICIPANTS:
Some of the notable companies leading the global immunohistochemistry market profiled in this report are F. Hoffmann-La Roche AG, Danaher Corporation, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Merck Millipore, Bio-Rad Laboratories, Inc., PerkinElmer, Inc., Abcam plc, Cell Signaling Technology, Inc., and Bio SB Inc.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Introduction
5.1.2 Antibodies
5.1.3 Reagents
5.1.4 Equipment
5.1.5 Kits
5.1.6 Y-o-Y Growth Analysis, By Product
5.1.7 Market Attractiveness Analysis, By Product
5.1.8 Market Share Analysis, By Product
5.2 Application
5.2.1 Introduction
5.2.2 Diagnostics
5.2.2.1 Cancer
5.2.2.2 Infectious Diseases
5.2.2.3 Cardiovascular Diseases
5.2.2.4 Autoimmune Diseases
5.2.2.5 Diabetes Milletus
5.2.2.6 Nephrological Diseases
5.2.3 Drug testing
5.2.4 Y-o-Y Growth Analysis, By Application
5.2.5 Market Attractiveness Analysis, By Application
5.2.6 Market Share Analysis, By Application
5.3 End Users
5.3.1 Introduction
5.3.2 Hospitals and Diagnostics Laboratories
5.3.3 Research Institutes
5.3.4 Y-o-Y Growth Analysis, By End Users
5.3.5 Market Attractiveness Analysis, By End Users
5.3.6 Market Share Analysis, By End Users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Application
6.1.3.4 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Application
6.1.4.4 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Application
6.1.5.4 By End User
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 F. Hoffman La Roche AG
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Danaher Corporation
8.3 Agilent Technologies
8.4 Thermo Fischer Scientific Inc.
8.5 Merck Millipore
8.6 Bio-Rad Laboratories
8.7 Cell Signalling Technology
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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