(PharmaNewsWire.Com, March 12, 2020 ) The report “Immunohistochemistry Market by Product (Antibody, Reagent, Kits, Slide Staining System, Tissue Microarray) Application (Diagnostics (Cancer, Cardiovascular, Diabetes, Autoimmune, Infectious Diseases) & Drug Testing) End User – Global Forecast to 2021″, The global immunohistochemistry market is expected to reach USD 2.12 Billion by 2021 from USD 1.48 Billion in 2016, at a CAGR of 7.3% from 2016 to 2021.
Growing prevalence of cancer and rapidly increasing geriatric population across the globe are the major factors driving the growth of the immunohistochemistry market. Other important factors driving market growth include increasing healthcare spending and improving healthcare infrastructure resulting in an increase in the number of hospitals and diagnostic laboratories.
The growing consolidation, incorporation of nanotechnology in immunohistochemistry, adoption of multiplex arrays, and automation in this market are the key trends in the market. Rapid growth in the developing countries across APAC and Latin America and the increasing demand for personalized medicine offer significant growth opportunities for players in the immunohistochemistry market.
In this report, the immunohistochemistry market is segmented based on product, application, end user, and region. This report also discusses the key market drivers, restraints, opportunities, and challenges for this market and its submarkets.
In 2015, the hospitals and diagnostic laboratories segment accounted for the largest share of immunohistochemistry market, by end user. The large share of the hospitals and diagnostic laboratories segment can be attributed to growing use of immunohistochemistry reagents, antibodies, and equipment for diagnostic procedures. Furthermore, technological advancements such as automated sample preparation and digital pathology and its greater utilization in the diagnosis of many chronic and life-threatening diseases are expected to contribute to the growth of this market.
In 2015, the immunohistochemistry antibody segment accounted for the largest share of immunohistochemistry market, by product. The large share of the immunohistochemistry antibody segment can be attributed to improved approval rate for therapeutic antibodies by regulatory authorities, increasing adoption of targeted immunotherapy, and increased R&D expenditure of pharmaceutical and biotechnology companies. The increasing risk of infectious diseases and rising demand for immune-therapeutics are expected to further drive market growth for this segment. Moreover, the rising adoption of immunohistochemistry test, high-throughput assays, such as array comparative genomic hybridization, cDNA microarray, next-generation sequencing techniques, and histological tests, have led to the rapid discovery of thousands of potential antibodies.
In 2015, the cancer segment accounted for the largest share of the immunohistochemistry market, by application. The large share of diagnostic application in cancer diseases can be attributed to increasing prevalence of cancer, rapidly increasing geriatric population in developed countries, increased awareness and demand for immunohistochemistry in histopathology, and demand for early diagnosis in developing countries in Asia-Pacific and Latin America.
The major players in the immunohistochemistry market are F. Hoffmann-La Roche AG (Switzerland), Danaher Corporation (U.S.), Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck Millipore (U.S.), Bio-Rad Laboratories, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Abcam plc (U.K.), Cell Signaling Technology, Inc. (U.S.), and Bio SB Inc. (U.S.).
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