Immunohistochemistry (IHC) Market size was valued at USD 2.4 billion in 2022 and is poised to grow at a significant CAGR of 7.5% from 2023-2029. Since personalized medicine has shown to be quite successful in treating non-small-cell lung cancer patients, its use is anticipated to rise. By providing the most thorough and precise histological subtyping of tumors feasible, immunohistochemistry techniques enable this method of treatment decision-making (supported by predictive immunohistochemistry and the assessment of relevant biomarkers). Additionally, the improved accessibility of immunohistochemical assays that identify mutant proteins (such as BRAF V600E and IDH1 R132H) offers a useful substitute or supplementary method to molecular testing. These methods are valuable novel tools in contemporary cancer care since they are highly reproducible, involve a manageable level of technical and interpretative complexity, and are accessible for comparatively little money. Furthermore, multiplex and mutation-specific immunohistochemistry tests are significant advances that have boosted value in targeted therapy and personalized medicine. The demand for IHC in disease diagnosis has increased significantly due to improvements in IHC methods. The market is growing due to the rise in product approvals and the introduction of technologically sophisticated IHC equipment for illness diagnostics. To improve their market position, businesses keep releasing innovative items which generate income. The leading players are launching new products, merging with other companies, expanding regionally, and engaging in other strategic efforts in the field of IHC to address the growing demand for IHC assays in cancer diagnostics.
Fastest Growing Market
The aging population will benefit the growth of the IHC market in both established and developing regions. The prevalence of age-related disorders is anticipated to rise dramatically with the worldwide geriatric population's rapid growth. In 2019, there were 54 million senior persons living in the US, according to the OECD. Other wealthy nations have sizable and expanding geriatric populations as well. The chance of contracting diseases rises proportionately with age. Therefore, it is anticipated that the prevalence of various diseases will increase globally as the senior population grows. This is considered a significant element are propelling the IHC market for diagnostic applications. On the other hand, immunohistochemistry is expected to have a slow development rate due to the low specificity of IHC techniques and their expensive setup costs.
The immunohistochemistry market size was valued at USD 2.4 billion in 2022
The immunohistochemistry market key players are: Thermo Fisher Scientific Inc. Hoffmann-La Roche Ltd. Merck KGaA Danaher Corporation Perkinelmer, Inc. Bio-Rad Laboratories, Inc. Cell Signaling Technology, Inc. Bio SB Agilent Technologies, Inc. Abcam plc.
US is the biggest market for Immunohistochemistry Market followed by Europe region.