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North America Immunochemistry Market Expected to Reach US$ 1,536.87 Mn in 2027 - PerkinElmer, Abcam, Agilent, Bio SB, Bio-Rad Laboratories, Cell Signalling , F. Hoffmann-La Roche, Danaher, Merck, Thermo Fisher

02-12-2020 01:45 PM CET | Health & Medicine

Press release from: Premium Market Insight

North America Immunochemistry Market

North America Immunochemistry Market

The North America immunochemistry market is expected to reach US$ 1,536.87 Mn in 2027 from US$ 806.34 Mn in 2018. The market is anticipated to grow with a CAGR of 7.6 % from 2019-2027.

The growth of the immunochemistry market is primarily attributed to the rising incidences of chronic and infectious diseases and the increasing geriatric population. However, the limitations associated with immunohistochemistry is likely to have a negative impact on market growth. On the other hand, development opportunities in the region are likely to have a positive impact on the growth of the North America immunochemistry market in the coming years.

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According to the National Council on Aging, approximately 80% of adults suffer from at least one chronic disease, whereas 77% of aged people suffer from two. These chronic diseases majorly comprise cancer, heart disease, diabetes, and stroke.

Immunohistochemistry techniques help in the quantification and diagnosis of these diseases accurately and reliably. The rising geriatric population in the world is thus likely to grow the immunohistochemistry market in the forecast period.

In 2018, the diagnostics segment accounted for the largest market share in the North America immunohistochemistry market by the application. The growing benefits of immunohistochemistry have prolonged technology usage to diagnose several chronic diseases. The application of the molecular diagnostics has allowed to treat the patients as per their genetic make-up also diagnosis through immunohistochemistry that helps to increase the use in precision medicine. Even the cost-effective nature of the immunochemistry is driving significant growth across the region.

In 2018, the antibodies held the largest market share of the immunochemistry market by the product that also anticipated to dominate the market in 2027. Moreover, the reagent segment is anticipated to register the highest CAGR during the forecast period in the market, since they form an essential component of any reaction and can be chosen as per the result to be obtained.

In 2018, the hospital & diagnostic laboratories segment held the most significant market share of the immunochemistry market, by the end-user. This segment is also anticipated to dominate the market in 2027. Besides, the segment is also expected to grow at the fastest rate during the coming years due to the rise in the prevalence of infectious diseases, cancer, and autoimmune disorders.
Some of the major primary and secondary sources for immunochemistry included in the report are, Federation of AIDS Organisations (AFAO), American Heart Association (AHA), HIV and AIDS organization (AVERT), Centers for Disease Control and Prevention (CDC), Centers for Diabetes and Endocrinology (CDE), Food and Drug Administration (FDA) and others.

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