Immunohistochemistry Market Growing at a CAGR of 7.4% says, The Insight Partners

According to our latest market research study on "Immunohistochemistry Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Application, End User, and Geography," the market is expected to reach US$ 3,585.31 million by 2028 from US$ 2,171.61 million in 2021; it is estimated to register a CAGR of 7.4% from 2021 to 2028. The report highlights the market trends, drivers, and deterrents. The key factors driving the market include rising incidence of chronic and infectious diseases, increasing geriatric population, and increasing R&D investments by biotechnology & biopharmaceutical companies. However, the limitations associated with immunohistochemistry are hindering the market growth.

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The key players operating in the Immunohistochemistry market include F. Hoffmann-LA Roche AG; Merck KGaA; PerkinElmer, Inc.; Thermo Fisher Scientific, Inc.; Abcam Plc; Agilent Technologies; Bio SB; Bio-Rad Laboratories; Cell Signaling Technology, Inc.; and Danaher Corporation. Companies are adopting organic and inorganic growth strategies to sustain their position in the immunohistochemistry market. In April 2020, Bio-Rad launched a blood-based immunoassay kit to detect Covid-19. It is a blood-based immunoassay kit to identify antibodies to the SARS-CoV-2, the virus that causes Covid-19.

Based on product, the global immunohistochemistry market is segmented into antibodies, equipment, reagents, and kits. In 2020, the antibodies segment held the largest share of the market. However, the reagents segment is expected to register the highest CAGR in the market during 2021-2028. In immunohistochemistry, antibodies provide extremely high identification precision at the protein level, with better sensitivity and localization at the cellular or even subcellular scale. In the immunohistochemistry market, companies such as Thermo Fisher Scientific, Inc. and Bio-Rad Laboratories, Inc. provide antibodies for better analysis of the assays, which is expected to drive the market during the forecast period.

Coronavirus immunohistochemistry antibodies are immunological methods used to identify members of the Coronaviridae family of RNA viruses that infect birds and mammals. Antibodies against antigens expressed by several coronavirus strains, including SARS-CoV-2, SARS-CoV, MERS, and other non-human pathogens like feline coronavirus. Common coronavirus antibody targets include nucleocapsid (N) and spike glycoprotein (S). These antibodies are intended for immunohistochemical applications. Immunohistochemistry analysis shows the detection of differential expression levels of SARS-CoV-2 Coronavirus Nucleocapsid and demonstrates antibody specificity. Several market players are launching immunoassay kits in the market. For instance, in April 2020, Bio-Rad launched a blood-based immunoassay kit to detect COVID-19. It is a blood-based immunoassay kit to identify antibodies to the SARS-CoV-2, the virus that causes Covid-19. Hence, the rising demand for immunoassay kits to detect COVID-19 is positively impacting the immunohistochemistry market growth.

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The global immunohistochemistry market is segmented into product, application, end user, and geography. In terms of product, the market is segmented into antibodies, equipment, reagents, and kits. Based on application, the immunohistochemistry market is segmented into diagnostics and drug testing. Based on end user, the immunohistochemistry market is segmented into hospital & diagnostic laboratories, research institutes, and others. In terms of geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America.

Diabetes is prevailing at a high rate in the geriatric population worldwide. The prevalence of diabetes is more in overweight and obese people. As per data published by the Centers for Disease Control and Prevention (CDC) in 2017, ~30.3 million people, representing 94% of the population of the US, were diabetic. Among these, ~23.1 million people were diagnosed with diabetes, while ~7.2 million had not undergone a proper diagnostic procedure.

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