Immunohistochemistry Market

Global Immunohistochemistry Market Size (2022 to 2027)

The size of the global IHC market is forecasted to value USD 2.69 billion by 2027 from USD 1.88 billion in 2022, growing at a CAGR of 7.4% from 2022 to 2027.

Global Immunohistochemistry Market Share Insights:

• Based on product, the antibodies segment had 39.4% of the global market share in 2021.
• Based on application, the diagnostics segment accounted for 64.6% of the global market share in 2021.
• North America was the biggest regional segment worldwide and held 36.2% of the global market share in 2021.
• Europe occupied a considerable share of the global market in 2021 and is expected to be valued at USD 677 million by 2027.
• APAC held a substantial share of the worldwide market in 2021 and is predicted to grow at a CAGR of 7.2% from 2022 to 2027.

Immunohistochemistry is a staining procedure done on 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:

YOY growth in the number of people suffering from chronic diseases is one of the major factors propelling the global immunohistochemistry market growth.

The growing cancer prevalence and the increasing geriatric population drive the immunohistochemistry market growth. Other factors, such as increasing healthcare expenditure and improving healthcare infrastructure, thus leading to more hospitals and diagnostic laboratories daily, are anticipated to result in the growth of the IHC market. In addition, the growing adoption of technologically advanced immunohistochemistry solutions and growing drug discovery & development activities are boosting the market’s growth rate. 

Rising approvals of products and the introduction of technologically advanced immunohistochemistry solutions for disease diagnosis further favor the global immunohistochemistry market growth. In addition, the involvement of major players in developing IHC solutions by collaborating with pharmaceutical drug manufacturers to develop and provide IHC companion diagnostic solutions for their immunotherapies offers lucrative opportunities for the market participants operating in the IHC market. Furthermore, rising awareness levels regarding chronic diseases among people are anticipated to promote the demand for immunohistochemistry solutions, which is eventually expected to result in the growth of the IHC market.

Furthermore, the new immunohistochemistry applications in new fields are anticipated to favor the IHC market growth. For instance, a research paper by G.F. Ingrassia, Department of Medical, Surgical and Advanced Technologies, University of Catania, Italy, in collaboration with multiple other institutes published in august of 2022, emphasizes the use of IHC in determining the accurate time of death for a body. The time of death is an essential part of the investigation for the FBI and several investigational organizations; thus, this discovery benefits them. Furthermore, the applications of IHC in detecting several neurodegenerative disorders due to multiple causes, such as cannabidiol use and smoking cigarettes, are expected to support the market’s growth rate. 

MARKET RESTRAINTS:

However, the lack of specificities associated with IHC techniques and its high setup cost are significant restraints limiting the growth of the global immunohistochemistry market. The lack of specificity of IHC techniques for diagnosing some chronic diseases is a significant challenge for the Immunohistochemistry market. In addition, the considerable burden and high setup cost of IHC equipment in hospitals and diagnostic laboratories among emerging economies are the other factors limiting the growth of the target market.

Impact of COVID-19 on the global immunohistochemistry market:

COVID-19 adversely impacted the global economy in 2020. The World Health Organization declared COVID-19 as a pandemic. Due to the virus's fast spread through human-to-human interactions, almost all countries implemented the lockdown. Moreover, all countries closed their borders due to the pandemic, adversely impacting the global economy in 2020. The lockdown 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 hospitals and the number of elective surgeries and diagnostic tests has dramatically fallen, significantly diminishing the sales of IHC products during the pandemic. However, the immunohistochemistry market is recovering from the impact due to the reduced impact of COVID-19 and the adoption of new normalization. Therefore, it is predicted to showcase healthy growth during the forecast period.

REPORT COVERAGE:

This research report on the global immunohistochemistry market has been segmented and sub-segmented into the following categories.

Immunohistochemistry Market – By Product:

• Antibodies
• Reagents
• Equipment        
• Kits       

Based on the product, the antibodies segment is predicted to lead the global immunohistochemistry market during the forecast period. The mandatory use of antibodies in carrying out the immunohistochemistry diagnosis of diseases such as cancer, infectious diseases, and other diseases propels segmental growth. In addition, the growing usage of research antibodies for drug discovery is another major factor contributing to the growth of the antibodies segment.

The IHC kits segment is also expected to have significant growth during the forecast period due to the convenience of using kits and the ease it provides in research and development activities for academic and biotechnological procedures. In addition, the sorted kits, which can be used without the hassle of measuring accurate antibody stains for tissues, save a lot of time and help avoid human errors in the procedure, driving the demand for the segment. Furthermore, many key players are now providing kits and assays as the R&D in the field of immunohistochemistry rise leading to segment growth. 

Immunohistochemistry Market – By Application:       

• Diagnostics        
• Drug testing          

Based on the application, the diagnostic segment accounted for the largest share of the Immunohistochemistry market in 2021. The growing incidence & prevalence of cancer majorly drive the segment's growth. Also, the burden of infectious diseases and the favorable reimbursement scenario for IHC tests is other factors growing the segment's share in the market.

However, due to the multiple immunohistochemistry applications in drug testing, the segment is expected to have notable growth during the forecast period. Immunohistochemical staining and histomorphometry quantification are widely used in procedures like drug discovery, drug efficacy, drug repositioning, biomarker expressions, etc. Therefore, they are extensively used by pharmaceutical and biotechnology companies resulting in growth for the segment. 

Immunohistochemistry Market – By End User:

• Hospitals & Diagnostics Laboratories    
• Research Institutes       

Based on the end-users, the hospitals & diagnostics laboratories segment captured the largest share of the global IHC market in 2021 and is forecasted to showcase the lead in the global market throughout the forecast period owing to the growing adoption of 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 contributed significantly to the segment’s growth in the recent past.

The research and development segment of the market is also expected to have grown during the forecast period due to the efficiency of the IHC staining procedures and its advantages over traditional special enzyme staining techniques. In addition, IHC has become an essential tool for detecting neurodegenerative disorders via abnormal proteins in research applications for human and animal cells, supporting the segment's growth.

Immunohistochemistry Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, the IHC market in North America led the worldwide market in 2021, owing to biotech and commercialization advancements. The dominance of the North American region can be credited to the growing adoption of these immunohistochemistry instruments in laboratories & diagnostic centers. In addition, favorable reimbursement policies in countries such as the US and Canada boost the penetration of automated devices, promoting the growth of the IHC market in the North American region. Furthermore, an increase in the number of people who have cancer from North American countries is anticipated to demand these immunohistochemistry techniques. For instance, according to the American Cancer Society, in 2019, it was reported that 1,762,450 new cancer cases were diagnosed, and more than 606,880 cancer deaths in the United States.

On the other hand, the IHC market in the Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period. The rapid growth of the immunohistochemistry market in the Asia-Pacific region is attributed to the economic development in countries such as 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 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.

The IHC market in Europe is expected to grow at a healthy CAGR 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.

The IHC market in Latin America is also growing due to the increasing incidences of cancer, stabilization of the economy over the past years, growing expenditure on healthcare, developing infrastructure, and rising disposable income.

The IHC Market in the Middle East & Africa is estimated to register a growth rate of 7.3% during the forecast period.

KEY MARKET PARTICIPANTS:

A few 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.

RECENT HAPPENINGS IN THIS MARKET:

• In January 2023, two giants in the biosciences industry, Agilent Technologies Inc, and Akoya Biosciences Inc, are entering a partnership to develop a multiplex immunohistochemistry diagnostic solution. The new solutions are expected to help analyze tissues and commercialize workflows for assays for clinical research purposes. 
• In November 2022, Biocare Medical, a primary developer and supplier of antibodies and IHC (immunohistochemistry) equipment, acquired empire genomics, a molecular probe provider, to advance its cancer research and diagnostic procedures. The company aims toward better diagnostic facilities and results for patients with this project. 
• In November 2022, ImmunoGen's Elahere, a treatment procedure for Platinum-Resistant Ovarian Cancer, now has a companion for the diagnostic procedure with the development of Ventana FOLR1 RxDx test by F. Hoffmann-La Roche AG, which has now been approved for use by the FDA. The test is expected to help identify epithelial ovarian cancer and its treatment possibilities via immunohistochemical assay.
• In September 2022, aiming toward the development of better pathology teams and for the detection of cancer within lymph nodes from cases of colorectal surgeries, an AI-based pathology solution is being developed via a collaboration between Indica Labs and The Industrial Centre for Artificial Intelligence Research in Digital Diagnostics (card).