USD 2.98 billion
Report ID:
SQMIG35H2224 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
89 |
Figures:
76
Immunohistochemistry Market size was valued at USD 2.98 billion in 2022 and is poised to grow from USD 3.2 billion in 2023 to USD 5.28 billion by 2030, at a CAGR of 7.4% during the forecast period (2023-2030).
The implementation of automation and machine learning in immunohistochemistry (IHC) is revolutionizing the field and driving the market forward.
These technological advancements are streamlining and improving the efficiency of IHC processes, leading to more accurate and timely disease diagnosis. The automation of tasks such as staining, image analysis, and data interpretation reduces human error and increases productivity. Machine learning algorithms enable the identification and classification of tissue markers, enhancing the diagnostic capabilities of IHC.
Furthermore, the introduction of technologically advanced immunohistochemistry solutions is fueling market growth. These solutions offer improved sensitivity, specificity, and multiplexing capabilities, enabling researchers and pathologists to obtain more detailed and precise information from tissue samples.
The development of novel antibodies and reagents tailored for specific biomarkers expands the range of applications and enhances the diagnostic potential of IHC. The market is also benefiting from the increasing number of product approvals and launches of advanced immunohistochemistry systems.
Regulatory approvals validate the safety and efficacy of these systems, instilling confidence among healthcare professionals. The availability of cutting-edge advanced imaging, automation, and data analysis capabilities empowers researchers and clinicians to make more informed and accurate diagnoses, driving market growth.
US Immunohistochemistry Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.98 billion
Largest Segment
hospitals and diagnostic laboratories
Fastest Growth
hospitals and diagnostic laboratories
Growth Rate
7.4% CAGR
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The market for occlusion devices is categorized by product, application, end-use, and region. Based on product, the market is segmented into antibodies, reagents, and kits. By application the market is segmented into diagnostics and research. By end-use, the market is segmented into hospitals & diagnostic laboratories, research institutes, and others. By region, the market is divided into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
Immunohistochemistry Market Analysis By Product
In 2022, the antibodies segment held the largest market share, accounting for 40.96% of the immunohistochemistry (IHC) market. Among antibodies, monoclonal antibodies and related products such as Fc-fusion, antibody fragments, and antibody-drug conjugates are widely used, leading to their dominance in terms of usage rate. Antibodies find applications across various fields such as pathology, neuropathology, and hematopathology.
The kits segment is expected to exhibit the fastest growth rate during the forecast period. These kits are compact and easy to use, driving their demand. Research laboratories and academic institutions often utilize IHC kits in small quantities for their research programs. The increasing number of research programs involving IHC assays is contributing to the growth of the kits segment. The convenience and ease of use provided by IHC kits are driving their adoption and fueling segment growth.
Immunohistochemistry Market Analysis By Application
In 2022, the diagnostics application segment held the largest revenue share, accounting for more than 69.16% of the market, and is expected to maintain its dominance throughout the forecast period. With the increasing prevalence of chronic diseases, the demand for IHC in the diagnostics field is projected to grow. The ability of IHC to provide valuable insights into disease pathology and aid in accurate diagnoses contributes to its widespread adoption in clinical settings. The diagnostics segment is expected to drive the growth of the immunohistochemistry market due to the rising need for effective disease diagnosis and management.
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In 2022, North America emerged as the dominant region, capturing the largest market share of over 38.39% in terms of revenue. Several factors contribute to the growth of the IHC market in North America. Firstly, the region is home to major market players and renowned research institutes, fostering innovation and advancements in IHC technology. Secondly, there is easy availability of IHC solutions, including antibodies, reagents, and instruments, facilitating the widespread adoption of IHC techniques.
Additionally, the region exhibits a higher uptake of technologically advanced IHC instruments, enabling efficient and accurate analysis of tissue samples. Lastly, the entry of newer IHC solutions and product launches further drives the growth of the market in North America. The region's well-established healthcare infrastructure and the presence of skilled professionals also contribute to its market dominance.
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Immunohistochemistry Market Drivers
Increasing Prevalence Of Chronic Diseases
Immunohistochemistry Market Restraints
High Cost Of IHC Procedures
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The competitive landscape of the immunohistochemistry (IHC) market is characterized by the presence of several key players, including established multinational companies as well as smaller regional and local players. These companies compete based on factors such as product portfolio, technological advancements, pricing, and distribution networks. Major players in the market invest heavily in research and development activities to launch innovative IHC solutions, expand their product offerings, and enhance their market presence. They also focus on strategic collaborations, partnerships, and acquisitions to strengthen their market position and gain a competitive edge. Additionally, players in the market actively engage in marketing and promotional activities to increase awareness about their IHC products and capture a larger customer base. Overall, the market is highly competitive, with companies vying to cater to the growing demand for accurate and reliable diagnostic solutions in the field of pathology and research.
Immunohistochemistry Market Top Player’s Company Profiles
Immunohistochemistry Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the future prospects of the immunohistochemistry (IHC) market are promising. Factors such as the increasing prevalence of chronic diseases, rising demand for personalized medicine, and advancements in diagnostic techniques are expected to drive market growth. Additionally, the growing focus on precision medicine and targeted therapies is fueling the demand for IHC assays in drug development and patient stratification. Technological advancements, such as multiplex IHC and digital pathology, are further enhancing the capabilities of IHC, allowing for more comprehensive analysis and interpretation of tissue samples. Moreover, the expanding applications of IHC in research and clinical settings, along with the emergence of novel biomarkers, present significant opportunities for market expansion. With ongoing advancements and innovations, the IHC market is poised for continued growth in the coming years.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 2.98 billion |
Market size value in 2031 | USD 5.28 billion |
Growth Rate | 7.4% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Immunohistochemistry Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Immunohistochemistry Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Immunohistochemistry Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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