According to the new market research report by MarketsandMarkets, the global immunohistochemistry market is projected to reach USD 2.7 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 6.6%.
The increasing incidence and prevalence of cancer, technological advancements in IHC, and the availability of reimbursement for IHC tests are the major factors driving the growth of this market.
Immunohistochemistry (IHC) Market by Product (Antibodies, Reagents (Chromogenic Substrates), Kits), Application (Diagnostics (Cancer, Infectious), Research, Forensic), End User (Hospitals, Diagnostic Laboratories, Academic).
By product, the atibodies segment accounted for the largest share of the IHC market in 2019.
Based on the product, the IHC market is segmented into antibodies, reagents, equipment, and kits. In 2019, the antibodies segment accounted for the largest share of the IHC market. The large share of this segment can be attributed to the mandatory use of antibodies in carrying out the immunohistochemistry diagnosis of various diseases (including cancer, infectious diseases, and other diseases) and the growing use of research antibodies for drug development.
By application, the diagnostic segment accounted for the largest share of the IHC market in 2019.
Based on applicationthe IHC market is segmented into diagnostic, research, and forensic applications. Diagnostic applications accounted for the largest share of this market, owing to the increasing incidence & prevalence of cancer, growing burden of infectious diseases, and the favorable reimbursement scenario for IHC tests.
North America accounted for the largest share of the immunohistochemistryss market in 2019.
In 2019, North America accounted for the largest share of the IHC market. The growth in this regional market can be attributed to the presence of major players operating in the IHC market in the US, rising incidence of cancer and infectious diseases, and the increasing adoption of companion diagnostic assay kits.
The global IHC market is dominated by a few globally established players such as F. Hoffmann-La Roche Ltd (Switzerland), Agilent Technologies, Inc. (US) Danaher Corporation (US), PHC Holding Corporation (Japan), Biocare Medical, LLC. (US), and Merck KGaA (Germany).