Immunohistochemistry Industry Overview
The global immunohistochemistry market size was valued at USD 1.28 billion in 2020 and is expected to reach USD 2.07 billion by 2028, expecting to expand at a compound annual growth rate (CAGR) of 6.2% during forecast period.
Increasing implementation of automation and machine learning in immunohistochemistry (IHC), coupled with the introduction of technologically advanced immunohistochemistry solutions, is expected to significantly drive the market throughout the forecast period. Advancements in IHC protocols have boosted its demand to a significant level in disease diagnosis. In addition, the rise in product approvals and the launch of technologically advanced immunohistochemistry systems for disease diagnosis are further propelling the market growth. For instance, in August 2021, the FDA approved Roche’s VENTANA MMR RxDx Panel to identify dMMR solid tumor patients eligible for anti-PD-1 immunotherapy.
Gather more insights about the market drivers, restrains and growth of the Global Immunohistochemistry Market
The COVID-19 outbreak has adversely affected the market; however, key market players are undertaking initiatives to overcome the challenges posed by this pandemic. Several key players have shifted their business focus by introducing IHC products for COVID-19 research. For instance, in March 2021, Bio SB launched a novel panel of COVID-19 antibodies to detect the SARS-CoV-2 virus, its receptor, and cytokines by immunofluorescence and IHC on formalin-fixed, paraffin-embedded (FFPE) biopsies.
Companies continue to launch novel products to strengthen their market position, which leads to revenue generation. For instance, in March 2021, Roche launched the DISCOVERY Green HRP kit to detect and profile biomarkers and cell populations in tissue-based research. This kit can be utilized in combination with other detection kits, expanding the multiplexing capacity of in situ hybridization and immunohistochemistry.
IHC technology is limited to single parametric evaluations of a sample. Newer techniques such as multiplexed IHC, however, allow multiparametric and detailed analysis from a single tissue segment by utilizing advanced methods of mass spectrometric detection. Multiplexed IHC helps address the technical challenges posed by the labeled fluorescence detection-based method, thereby spurring the market revenue.
Immunohistochemistry Market Segmentation
Based on the Product Insights, the market is segmented into antibodies, equipment, reagents and kits.
Based on the Application Type Insights, the market is segmented into diagnostics and drug testing.
Based on End-use Insights, the market is segmented into hospitals & diagnostic laboratories, research institutes and others
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Market Share Insights:
Key Companies Profile:
The rising demand for IHC assays in cancer diagnostics, the key players are undertaking various strategic initiatives in the field of immunohistochemistry, including new product launches, mergers & acquisitions, and regional expansion, to meet the market needs.
Some prominent players in the global immunohistochemistry market include:
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