Immunohistochemistry Market Size Worth $2.07 Billion by 2028: Grand View Research, Inc.

SAN FRANCISCO, Feb. 21, 2022 /PRNewswire/ -- The global immunohistochemistry market size is expected to reach USD 2.07 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.2% from 2021 to 2028. The high demand for accurate data has driven several technological advancements in (immunohistochemistry) IHC techniques, resulting in the delivery of precise and contextual data analyses. The emergence of various advanced techniques, such as multiplex IHC, computational pathology, and next-generation IHC, is driving the market for immunohistochemistry.

Key Insights & Findings from the report:

• By product, antibodies dominated the market in 2020 owing to the high use of antibodies for immunohistochemistry assays carried out for disease diagnosis and drug testing workflows.
• Based on application, the diagnostics segment led the market in 2020 owing to the widespread application of immunohistochemistry tests in diagnostic settings. The drug testing segment is expected to witness significant growth during the forecast period. This is due to increasing investment flow by pharmaceutical companies in R&D activities of novel drug discovery and development.
• The hospitals and diagnostic laboratories end-use segment accounted for the largest revenue share in 2020. Research institutes are expected to register a lucrative CAGR over the forecast period owing to the increasing adoption of IHC in research institutes for drug discovery activities.
• North America emerged as the largest regional market in 2020. This is due to the confluence of multiple factors such as high cancer prevalence, the presence of major key players, and developed healthcare and biotechnological sectors.
• Asia Pacific is projected to grow at the fastest rate throughout the forecast period with China being the fastest-growing. market. Increasing regulatory approvals and the launch of novel IHC solutions in China are accelerating the country's market growth.
• Key players are engaged in making focused attempts to reinforce their market position and gain a competitive advantage in the market.

Read 250-page market research report, "Immunohistochemistry Market Size, Share & Trends Analysis Report By Product (Antibodies, Reagents, Kits), By Application (Diagnostics, Drug Testing), By End Use, By Region, And Segment Forecasts, 2021 - 2028", published by Grand View Research.

Immunohistochemistry Market Growth & Trends

IHC protocols have gained popularity in the field of clinical pathology, especially in the subspecialties of oncologic pathology, hematopathology, and neuropathology. The technique has played a vital role in shaping cancer diagnostics. Thus, the growing prevalence of cancer is expected to increase the demand for immunohistochemistry, thus contributing to market growth.

Furthermore, wide applications of immunohistochemistry in drug discovery and development activities are expected to boost revenue growth throughout the forecast period. Whole slide imaging and digital image analysis offer highly accurate and objective evaluations. Thus, image analysis can be used across different aspects of drug discovery including drug repositioning, target validation, patient stratification, biomarker expression studies, and drug efficacy and safety studies.

Acknowledging the profitable opportunities posed by the space, operating players in the industry continue to undertake strategic initiatives to strengthen their market presence. For instance, in June 2021, PathAI, in collaboration with AstraZeneca and Daiichi Sankyo Company Limited, has created machine learning-based models to enable automated quantification of HER2 IHC images in breast cancer samples.

Immunohistochemistry Market Segmentation

Grand View Research has segmented the global immunohistochemistry market on the basis of product, application, end-use, and region:

Immunohistochemistry Product Outlook (Revenue, USD Million, 2017 - 2028)

• Antibodies
• Primary Antibodies
• Secondary Antibodies
• Equipment
• Slide Staining System
• Tissue Microarrays
• Tissue Processing Systems
• Slide Scanners
• Others
• Reagents
• Histological stains
• Blocking Sera and Reagents
• Chromogenic Substrates
• Fixation Reagents
• Stabilizers
• Organic Solvents
• Proteolytic Enzymes
• Diluents
• Kits

Immunohistochemistry Application Outlook (Revenue, USD Million, 2017 - 2028)

• Diagnostics
• Cancer
• Infectious Diseases
• Cardiovascular Diseases
• Autoimmune Diseases
• Diabetes Mellitus
• Nephrological Diseases
• Drug Testing

Immunohistochemistry End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Hospitals & Diagnostic Laboratories
• Research Institutes
• Others

Immunohistochemistry Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Singapore
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Immunohistochemistry Market

• Thermo Fisher Scientific, Inc.
• F. Hoffmann-La Roche Ltd.
• Merck KGaA
• Danaher Corporation
• PerkinElmer, Inc.
• Bio-Rad Laboratories, Inc.
• Cell Signaling Technology, Inc.
• Bio SB
• Agilent Technologies, Inc.

Check out more related studies published by Grand View Research:

• Immunoprotein Diagnostic Testing Market - The global immunoprotein diagnostic testing market size is anticipated to reach USD 10.3 billion by 2025, according to a new report by Grand View Research, Inc. This growth can be attributed to the rising incidence of chronic diseases.
• Cancer Diagnostics Market - The global cancer diagnostics market size is expected to reach USD 249.6 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a 7.0% during the forecast period. Continual introduction of innovative products, coupled with increasing need for early diagnosis of various diseases, is a prime factor driving the market.
• Monoclonal Antibodies Market - The global monoclonal antibodies (mAbs) market was valued at USD 85.4 billion in 2015 and is expected to reach a value of USD 138.6 billion by 2024. Increasing R&D pertaining to the development of therapeutic mAbs coupled with supportive government initiatives is expected to drive the monoclonal antibodies market growth over the forecast period.

Browse through Grand View Research's Biotechnology Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Grand View Pipeline
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg