Immunohistochemistry Market Size, Share, Growth Analysis, By Application (Application Diagnostic applications, Research applications), By End User (Hospitals & Diagnostic Laboratories, Academic Institutions & Contract Research Organizations (CROs), Other end users), By Region - Industry Forecast 2024-2031

Immunohistochemistry Market size was valued at around USD 2.9 billion in 2022 and is expected to rise from USD 3.1 billion in 2023 to reach a value of USD 5.5 billion by 2031, at a CAGR of 7.4% over the forecast period (2024–2031).

Rapidly increasing prevalence of chronic diseases around the world and high investments in the development of novel diagnostic products and technologies are slated to bolster immunohistochemistry market growth. The growing use of immunohistochemistry in drug discovery and development processes is also expected to offer lucrative new business scope for immunohistochemistry providers going forward. High adoption and acceptance of companion diagnostics are also forecasted to create new opportunities for immunohistochemistry companies in the future. Rapid advancements in diagnostics technologies are also projected to favor immunohistochemistry demand outlook in the long run. On the contrary, the dearth of skilled professionals, high costs of immunohistochemistry equipment, and risk of false positives are some key constraints that could hinder the demand for immunohistochemistry across the study period and beyond. High demand for early diagnosis and growing awareness regarding advanced diagnostic technologies will also create new opportunities for immunohistochemistry providers in the long run. 

US Immunohistochemistry Market is poised to grow at a sustainable CAGR for the next forecast year.