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Immunohistochemistry (IHC) Market Analysis, Research Report, Forecast to 2023
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Based on product type, the kit segment is expected to grow at faster rate during the forecast period. The increasing adoption of IHC kit across the globe, owing to its ease of use, availability of ready to use reagents and antibodies, and optimized sensitivity of the antibody to the antigen, is driving the growth of this segment.
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Geographically, North America has been the largest market for IHC, owing to increased awareness, established healthcare industry, and easy accessibility to advanced technologies. The U.S. contributed largest revenue to the North American as well as global IHC market. The advanced cancer diagnostic testing and cancer screening is the key growth driving factor for the U.S. IHC market.
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Europe has been the second largest market for IHC, where the market is driven by the presence of a large pool of cancer patients, increasing healthcare expenditure and rapidly developing healthcare infrastructure. In 2015, Germany lead the European IHC market and it is also expected to grow at the fastest rate in Europe, during forecast period. Globally, the IHC market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing prevalence of chronic diseases, increasing per capita income leading to improving standard of living, increasing healthcare spending, growing demand for better quality medical care, and awareness about IHC tests in the region. Moreover, increasing prevalence of geriatric population and increasing prevalence of cancer in the region further supports the market growth.
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The key players operating in the global IHC market are F. Hoffmann-LA Roche AG, Danaher Corporation, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Merck Millipore, Bio-Rad Laboratories, Inc., Perkinelmer, Inc., Cell Signaling Technology, Inc., Bio SB and Abcam PLC.
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