Immunohistochemistry Industry Insights Trends, Dynamics, and Market Growth

The global immunohistochemistry market, valued at US$3.4B in 2023, is forecasted to grow at a 7.2% CAGR, reaching US$3.7B by 2024 and US$5.2B by 2029.
The immunohistochemistry (IHC) industry is poised for remarkable growth and advancements in the near future. With increasing demand for precise and personalized diagnostics, coupled with ongoing developments in technology and biomarker research, the IHC market is set to witness significant expansion. Immunohistochemistry techniques enable the visualization and analysis of specific antigens within tissue samples, providing critical information for disease diagnosis, prognosis, and treatment selection. In the coming years, the industry will experience advancements in antibody specificity, sensitivity, and multiplexing capabilities, allowing for more accurate and comprehensive analysis of tissue specimens. Moreover, the integration of artificial intelligence (AI) algorithms and machine learning techniques will streamline the interpretation and analysis of IHC results, enhancing efficiency and reducing subjectivity. The adoption of digital pathology and telepathology solutions will further facilitate remote collaboration, consultation, and data sharing among pathologists and researchers worldwide. Additionally, the expanding application of IHC in areas such as oncology, neuroscience, immunology, and infectious diseases will contribute to the market's growth. As a result, the IHC industry will play a pivotal role in advancing precision medicine, improving patient outcomes, and driving scientific discoveries in the field of pathology in the near future.

Immunohistochemistry (IHC) Market [https://www.marketsandmarkets.com/Market-Reports/immunohistochemistry-market-121632939.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] in terms of revenue was estimated to be worth $3.2 billion in 2023 and is poised to reach $4.7 billion by 2028, growing at a CAGR of 7.4% from 2023 to 2028 according to a new report by MarketsandMarkets Trademark . Market growth is largely driven by the increased population of geriatric and the increased incidence of cancer cases, technological advancement of IHC, and availability of reimbursements for IHC tests. However, the presence of alternative test, and the high degree of consolidation in the market by the major market players is expected to restrain the growth of this market during the forecast period.

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The Kits product segment accounted for the highest growth rate in the immunohistochemistry market, by product, during the forecast period

In 2022, the Kits product segment accounted for the highest growth rate of the immunohistochemistry market. The demand for complete solutions from a single reliable product provider, like closed-system reagents with calibrated measurements of the required test quantity of reagents and controls among diagnostic laboratories, hospitals, research institutes, and other end users, is growing. Moreover, ready-to-use kits simplify the IHC process by rectifying the initial time-consuming selections of primary antibodies and appropriate stains. This is rapidly increasing the growth of the immunohistochemistry kits market.

Forensics applications segment accounted for the smallest share of the application segment

Based on application, the IHC market is segmented into diagnostic, research, and forensic applications. The forensics application segment accounted for the smallest this market in 2022. In forensics, IHC can play an important role in determining the cause of death. Immunohistochemistry carried out on post-mortem samples helps in determining age-related brain disease (Alzheimer's, strokes) and trauma (often accidental, from falls) and their respective roles in the cause of death. However, its applications in forensic pathology are generally limited to ruling in or out natural disease. This is due to degradation of tissue of a body where the time from death to autopsy is several days.

Hospitals & Diagnostic Laboratories segment accounted for the largest share of the end user segment

Based on end user, the IHC market is segmented into hospitals & diagnostic laboratories, academic & research institutes, and other end users. The hospitals & diagnostic laboratories segment accounted for the largest share of the IHC market in 2022. The growing number of specialty diagnostic tests performed in hospital laboratories, the increasing number of in-house diagnostic procedures in hospitals, and the rising trend of establishing in-house diagnostic capabilities in hospitals to provide time-bound and affordable patient services are factors driving the growth of this market segment.

Asia Pacific: The fastest-growing region in the immunohistochemistry market.

Based on the region, the immunohistochemistry market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. APAC is expected to register the fastest growth rate during the forecast period. The economic growth in the countries of this region, large population base, the rising prevalence of chronic diseases, the rising standard of living, growing demand for quality medical care, increasing healthcare spending, increasing government initiatives, and rising awareness regarding the use of IHC test are the major factors driving the growth of the Immunohistochemistry market in the Asia Pacific region.

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Immunohistochemistry (IHC) Market Dynamics:

Drivers:

* Rising geriatric population and subsequent growth in prevalence of chronic and infectious diseases
* Technological advancements in IHC
* Availability of reimbursements for IHC tests

Restraints:

* High degree of consolidation

Opportunities:

* Increasing demand for personalized medicine
* Growing significance of companion diagnostics
* Growth opportunities in emerging countries

Challenges:

* Dearth of skilled professionals
* Product failures and recalls

Key Market Players:

Prominent players operating in the global immunohistochemistry market include F. Hoffman-La Roche AG (Switzerland), Danaher Corporation (US), and Agilent Technologies, Inc. (US).

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