Immunohistochemistry Market was valued at US$ 1.7Bn in 2017 and is expected to reach US$ 3.2.Bn by 2026, at a CAGR of 8.23% during a forecast period.
Global Immunohistochemistry Market
Global immunohistochemistry (IHC) market is witnessing significant growth owing to increasing geriatric population, growing healthcare expenditure and increasing awareness about histopathology. Also, the growing prevalence of chronic diseases including cancer, cardiovascular disease, infectious diseases, autoimmune diseases, diabetes mellitus, and nephrological diseases is supporting the growth of the immunohistochemistry market.
The rapid growth in emerging economies and technological development in the in vitro diagnostics industry is likely to create opportunities for the manufacturers of immunohistochemistry kit, equipment and reagent. However, the high cost of IHC equipment is the key factor hindering the growth of the global market.
A significant ascent in healthcare spending and move in the spotlight on esteem based medicinal services arrangements can also prompt development of the immunohistochemistry showcase over the gauge time frame. As specified by the Centers of Medicare and Medicaid Services (CMS) projections, the National Health Expenditure is forecast to ascend at a normal of 5.5% consistently from 2017 to 2026. It is relied upon to stretch around US$ 5.7 trillion by 2026. Clinics and care offices are embracing an increasingly explicit and focused on treatment for good results and to build up a move esteem based healthcare conveyance.
Antibodies segment dominated the market because of important market drivers such as growing demand for personalized medication and technological advancement in biological for the treatment of chronic diseases.
Cancer is dominating a segment of the immunohistochemistry market, by an application. The large share of diagnostic application in cancer diseases can be attributed to the rising prevalence of cancer, rapidly growing geriatric population in developed countries.
North America accounted for the major share of the global immunohistochemistry market, followed by Europe and the Asia-Pacific. Growth in the developed markets like North America and Europe is mostly driven by the well-established healthcare industry, easy accessibility to advanced technologies, and increasing opportunities for advanced cancer diagnostic testing and cancer screening. North America Immunohistochemistry Market was worth US$ 530Mn in 2018 and estimated to be growing at a CAGR of 7.6%.
Europe has been the second largest market for immunohistochemistry, where the market is driven by the presence of a large pool of cancer patients, growing healthcare expenditure and rapidly developing healthcare infrastructure. The Europe Immunohistochemistry Market was worth US$ 440Mn in 2018 and estimated to be increasing at a CAGR of 7.45%. In 2017, Germany leads the European immunohistochemistry market and it is also expected to grow at the fastest rate in Europe, during the forecast period.
Various players are operating in global immunohistochemistry market. One of the major players is F. Hoffman-La Roche AG Company. The F. Hoffman-La Roche AG commanded a share of 23% of the global immunohistochemistry market in 2017. The company is a leading immunohistochemistry product manufacturer and supplies its products to research laboratories, pharmaceutical companies, hospitals, & contract research organizations.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Immunohistochemistry Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Immunohistochemistry Market.
Scope of Global Immunohistochemistry Market
Global Immunohistochemistry Market, by Product
Global Immunohistochemistry Market, by Application
o Infectious Diseases
o Cardiovascular diseases
o Autoimmune Diseases
o Diabetes mellitus
o Nephrological Diseases
- Drug Testing
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