PUBLISHER: Polaris Market Research | PRODUCT CODE: 1424015
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1424015
The Asia Pacific immunohistochemistry market size is expected to reach USD 1.1 billion by 2032, according to a new study by Polaris Market Research. The report "Asia Pacific Immunohistochemistry Market Share, Size, Trends, Industry Analysis Report, By Product (Antibodies, Reagents, Equipment, Kits), By Application (Diagnostics, Research), By End-Use, By Country, And Segment Forecasts, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The aging process is linked to a heightened susceptibility to infections and autoimmune diseases, primarily due to a compromised immune system. According to the National Council on Aging's 2023 statistics, an estimated 95% of older individuals grapple with at least one chronic disease, encompassing conditions like cancer, heart disease, diabetes, or infectious diseases, with 80% experiencing at least two such conditions. The incidence of cancer sees an 11-fold increase in individuals aged 65 and above compared to those below 65, as reported by the European Society for Medical Oncology. Immunohistochemistry assumes a crucial role in the diagnosis of diseases and the planning of treatment. Consequently, the surge in the geriatric population is anticipated to escalate the demand for immunohistochemistry techniques.
The increasing prevalence of chronic diseases is creating a higher demand for advanced diagnostic techniques. The rise in healthcare spending, both globally and in specific regions, provides the necessary financial support for the adoption of advanced medical technologies. Lastly, continuous technological advancements in disease diagnosis procedures and techniques play a crucial role in enhancing the accuracy and efficiency of immunohistochemistry, contributing to its overall market growth.
Government bodies and prominent organizations consistently engage in initiatives aimed at reducing cancer-related healthcare expenditure by encouraging regular diagnostic examinations. For instance, in February 2023, the Japan International Cooperation Agency (JICA) inked an agreement with the Indian government, extending an Official Development Assistance (ODA) loan exceeding USD 66 million for the development of a super-specialty cancer and research center in Mizoram, India. Additionally, in May 2023, Fujitsu collaborated with Takeda Pharmaceutical & the National Cancer Center Japan in a research project to analyze the recognition, diagnosis, and treatment processes of ovarian cancer patients. Such proactive initiatives by governmental bodies and industry players are anticipated to contribute to the growth of the immunohistochemistry industry in the region.
While these instruments aim to improve efficiency and reproducibility, their upfront expenses present a substantial financial hurdle. The initial acquisition cost encompasses the instrument itself, accompanying software, and necessary accessories, creating a financial barrier, especially for smaller laboratories. For instance, the price of an advanced immunohistochemistry instrument hovers around USD 85,000 to USD 90,000, imposing a substantial burden on hospitals and diagnostic laboratories, particularly in developing economies.
The antibodies segment held the largest share, primarily due to its rising use in disease diagnosis and several research applications
The hospital segment dominated the market, primarily due to better facilities and a rise in cancer cases
The research institutes segment is expected to grow at the fastest rate due to a rise in research and development activities
The global players include Merck, Danaher, PerkinElmer, Bio SB, Agilent Technologies, Abcam, HiMedia Laboratories, & Sino Biological.
Polaris Market Research has segmented the Asia Pacific immunohistochemistry market report based on product, application, end-use and region: