Market Research Report
North America Immunochemistry Market to 2027 - Regional Analysis and Forecasts By Application ; Product ; End User, and Country
|North America Immunochemistry Market to 2027 - Regional Analysis and Forecasts By Application ; Product ; End User, and Country|
Published: January 30, 2020
The Insight Partners
Content info: 194 Pages
Delivery time: 1-2 business days
The North America immunochemistry market is expected to reach US$ 1,536.87 Mn in 2027 from US$ 806.34 Mn in 2018. The market is anticipated to grow with a CAGR of 7.6 % from 2019-2027.
The growth of the immunochemistry market is primarily attributed to the rising incidences of chronic and infectious diseases and the increasing geriatric population. However, the limitations associated with immunohistochemistry is likely to have a negative impact on market growth. On the other hand, development opportunities in the region are likely to have a positive impact on the growth of the North America immunochemistry market in the coming years.
The growing elderly population is the primary cause of chronic diseases. Aging is a complex process influenced by genetic variables as well as environmental factors. Thus, people with the age of 75 years and above high blood pressure are the common risk factor for cardiovascular diseases, including blood-associated cancer. Management of these disorders in older patients must often be weighed in a setting of decreased physiological reserves and concurrent illnesses. According to the United Nation's World Population Ageing 2017 report, in 2017, there were 962 million people across the world who were aged 60 years or over, and the number is expected to reach nearly 2.1 billion by 2050. Also, as per the analysis of the US Census Bureau the number of Americans above the age of 65 and older is anticipated to grow more than double from 46 million in 2016 to above 98 million by 2060, and the 65-and-older age group's share in the world's population will produce around 24% from 15 percent.
According to the National Council on Aging, approximately 80% of adults suffer from at least one chronic disease, whereas 77% of aged people suffer from two. These chronic diseases majorly comprise cancer, heart disease, diabetes, and stroke. Immunohistochemistry techniques help in the quantification and diagnosis of these diseases accurately and reliably. The rising geriatric population in the world is thus likely to grow the immunohistochemistry market in the forecast period.
In 2018, the diagnostics segment accounted for the largest market share in the North America immunohistochemistry market by the application. The growing benefits of immunohistochemistry have prolonged technology usage to diagnose several chronic diseases. The application of the molecular diagnostics has allowed to treat the patients as per their genetic make-up also diagnosis through immunohistochemistry that helps to increase the use in precision medicine. Even the cost-effective nature of the immunochemistry is driving significant growth across the region.
In 2018, the antibodies held the largest market share of the immunochemistry market by the product that also anticipated to dominate the market in 2027. Moreover, the reagent segment is anticipated to register the highest CAGR during the forecast period in the market, since they form an essential component of any reaction and can be chosen as per the result to be obtained.
In 2018, the hospital & diagnostic laboratories segment held the most significant market share of the immunochemistry market, by the end-user. This segment is also anticipated to dominate the market in 2027. Besides, the segment is also expected to grow at the fastest rate during the coming years due to the rise in the prevalence of infectious diseases, cancer, and autoimmune disorders.
Some of the major primary and secondary sources for immunochemistry included in the report are, Federation of AIDS Organisations (AFAO), American Heart Association (AHA), HIV and AIDS organization (AVERT), Centers for Disease Control and Prevention (CDC), Centers for Diabetes and Endocrinology (CDE), Food and Drug Administration (FDA) and others.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America immunochemistry market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the North America immunochemistry market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth regional market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.