Global Immunohistochemistry Market - 2023-2030

Market Overview

The global Immunohistochemistry market size was valued at US$ 2,302.79 million in 2022 and is estimated to reach US$ 4,240.65 million by 2030, growing at a CAGR of 8.1% during the forecast period (2023-2030).

Antibodies are employed in the process known as immunohistochemistry (IHC) to recognize proteins (antigens) in cells within a tissue segment (for instance, liver, pancreas or heart). Several characteristics are challenging to ascertain when a tissue sample is delivered to a lab for disease testing. Even if they may appear to contain identical cells in size or shape under a microscope, various diseases or disease subtypes may behave differently and call for different treatments. The most effective way to distinguish between these cells is to look for particular molecules that act as markers on them.

Market Dynamics

The major factors driving the global Immunohistochemistry market the market will expand as the growing incidence and prevalence of Cancer, availability of reimbursements for IHC tests and technological advancements in IHC.

Growing incidence and prevalence of Cancer are expected to drive the market's growth.

The growing prevalence of Cancer and the widespread use of immunohistochemistry in diagnosing infectious diseases, cardiovascular disorders, and other diseases are both associated with a substantial share of this market. According to World Health Organization 2022, Cancer is a broad term that refers to any disease that can affect any body part. Other terms used include malignant tumors and neoplasms. Cancer will be the leading cause of mortality worldwide in 2020, with an estimated 10 million deaths, or approximately one in every six.

The most common forms of Cancer include breast, lung, colon, rectum, and prostate. About one-third of cancer-related deaths are caused by smoking, high body mass index, consuming alcohol, eating few fruits and vegetables, and not exercising.

And according to the National Institutes of Health, in 2020, an estimated 1,806,590 new cases of Cancer will be diagnosed in the United States, and 606,520 people will die from the disease. The most common cancers (listed in descending order according to estimated new cases in 2020) are breast cancer, lung and bronchus Cancer, prostate cancer, colon and rectum cancer, melanoma of the skin, bladder cancer, non-Hodgkin lymphoma, kidney and renal pelvis cancer, endometrial Cancer, leukemia, pancreatic Cancer, thyroid cancer, and liver cancer. These conditions of cancer disorders increase the demand for immunochemistry tools.

Lack of skilled pathologists is expected to hamper the market's growth.

However, the market expansion is constrained by the absence of well-trained pathologists. The pathologist uses an automated IHC platform to carry out immunohistochemistry (IHC) stains on paraffin sections, applies the proper antigen retrieval methods, and resolves problems with broken equipment and subpar stains. And without the pathologist, it would not have been possible; untrained technicians are a hindrance to the market.

COVID-19 Impact Analysis

The SARS-CoV-2 outbreak became apparent as a potential window of opportunity for market expansion. Numerous academic institutions and biopharmaceutical businesses are examining the immunofluorescence assay to make it a useful diagnostic tool. The COVID-19 epidemic has caused significant barriers to global supply networks. Numerous nationwide lockdowns continue to impede or even temporarily block the flow of raw materials and completed goods, impacting the manufacturing process.

However, immunohistochemistry and in situ hybridization methods enable the detection of SARS-CoV and SARS-CoV-2 viral products in formalin-fixed paraffin-embedded (FFPE) specimens will be immensely valuable in the future, according to the Nature magazine, December 2020. Studies of coronavirus pathogenesis and therapeutic research in animal models can use these varied methods for virus detection and material synthesis.

Furthermore, the COVID-19 pandemic affected the availability of immunohistochemistry kits and reagents, yet, their use in COVID-19 research and diagnosis is predicted to enhance its demand in the coming years.

Segment Analysis

The diagnostics segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)

The application segment is the highest market holder in the global immunohistochemistry market. Numerous market players' launches of new products, viral outbreaks, the prevalence of chronic diseases around the world, an increase in point-of-care diagnostics, and quickly advancing technology are major drivers of the segment's growth. The industry and academia continue to find the field appealing despite its rapid evolution. The development and subsequent administration of tailored medication using diagnostic techniques are projected to accelerate market expansion.

In addition, several market players engage in strategic initiatives. For instance, in January 2021, Diaceutics PLC, a company that offers diagnostic tracking, laboratory mapping, testing, and other services, announced a strategic partnership with Canadian Pathology Quality Assurance, a non-profit organization, to advance the development of Neurotrophic Tropomyosin Receptor Kinase (NTRK) IHC proficiency testing. And in June 2021, Amoy Diagnostics Co. Ltd., Riken Genesis Co. Ltd., and Precision Medicine Asia Co. Ltd. released the AmoyDx Pan Lung Cancer PCR Panel. The Ministry of Health, Labour, and Welfare (MHLW) has given the panel the go-ahead for marketing and production in Japan.

Geographical Analysis

North America holds the largest market share in the global Immunohistochemistry market.

North America dominates the global Immunohistochemistry market primarily due to factors like the presence of major companies, the high prevalence of Cancer and other chronic diseases in the area, and the well-established healthcare infrastructure are only a few of the major factors responsible for the market's growth. The existence of significant market participants, the ease with which IHC solutions are accessible, the increased use of technologically advanced IHC instruments, and the arrival of newer IHC solutions all contribute to the market expansion in the North American region.

For instance, in March 2022, Boston Cell Standards, a company dedicated to ensuring that cancer patients receive accurate diagnosis and treatment, announced that it launched the Consortium for Analytic Standardization in Immunohistochemistry (CASI). The new organization is led by an international panel of pathologists and scientists dedicated to improving patient immunohistochemistry (IHC) test accuracy and reproducibility. And in June 2021, PathAI, a U.S.-based provider of AI-powered technology for pathological applications, presented a machine learning-based quality control tool developed for HER2 testing in breast cancer in June 2021 at the American society of clinical oncology virtual scientific program 2021.

Competitive Landscape

The Immunohistochemistry market is moderately competitive with local and global companies' presence. Danaher Corporation, F. Hoffmann-La Roche Ag., BD, Agilent Technologies, Inc., Merck Kgaa, Bio-Rad Laboratories, Inc., BioGenex, Abcam Plc, Candor Bioscience Gmbh, PerkinElmer, Inc. and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market's growth. For instance, in December 2021, according to BioGenex, a company that develops, produces, and distributes molecular pathology systems for tumor diagnosis, prognosis, precision medicine, and life science research, three new primary immunohistochemistry (IHC) antibodies for cancer diagnosis have been published. These are CD56, CD163, and CD8A, respectively.

BioGenex.

Overview: BioGenex creates, develops, and sells molecular pathology systems for life science research, precision medicine, and tumor detection and prognosis. Pathology is being revolutionized by BioGenex's market-leading next-generation cytogenetic FISH workflow solution and miRNA system for the characterisation of Cancer of Unknown Primary (CUP) and undifferentiated tumors. The most cutting-edge systems are proprietary fully automated molecular pathology workstations from BioGenex..

Product Portfolio:

IHC Detection Kits: Immunohistochemistry (IHC) Detection Systems are specially designed for the chromogenic detection of antigen-antibody binding reactions with primary antibodies of various sources (mouse or rabbit, IgG or IgM).

The global Immunohistochemistry market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.