December 7, 2024
Immunohistochemistry Market

Rising Global Prevalence Of Cancer To Drive Growth Of The Immunohistochemistry Market

The global Immunohistochemistry Market is estimated to be valued at US$ 1560.2 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Immunohistochemistry is a technique used to detect antigens in cells of a tissue section. It involves the use of antibodies to probe for antigen expression in cells within a tissue sample. This allows for visualization of antigens in specific cell types in tissue. Immunohistochemistry has wide applications in the fields of pathology, oncology and life sciences research. It helps understand the expression and distribution of biomarkers in cancerous and non-cancerous cells, thereby assisting in disease diagnosis and prognosis. Advancements in IHC techniques have increased their sensitivity, specificity and overall reliability.

Market key trends:

One of the key trends in the immunohistochemistry market is the development of multiplex immunohistochemistry techniques which allow for simultaneous detection of multiple biomarkers or proteins in a single tissue section. This increases efficiency and provides a more complete biomarker expression profile analysis compared to conventional single-protein IHC methods. Also, the rising adoption of digital pathology and integration of AI/ML capabilities is augmenting the quantitative analysis capabilities of IHC. Vendors are focused on developing novel automated staining platforms, brightfield and fluorescence imaging solutions as well as software for quantitative image analysis. This is expected to support the high-throughput needs of research and clinical immunohistochemistry applications.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the immunohistochemistry market is moderate due to high capital requirements and technical expertise required to enter the market.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of substitutes in the market.

Bargaining power of suppliers: The bargaining power of suppliers is high as key raw materials for immunohistochemistry are limited in number.

Threat of new substitutes: The threat of new substitutes is moderate as alternative methods like fluorescence in situ hybridization (FISH) are available but do not match the accuracy provided by immunohistochemistry.

Competitive rivalry: High due to presence of large number of players.

Key Takeaways

The Global Immunohistochemistry Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period 2023 to 2030, due to increasing prevalence of chronic diseases.

North America is expected to dominate the immunohistochemistry market during the forecast period. This is attributed to increasing healthcare expenditure and rising incidence of cancer in the region. Asia Pacific is anticipated to exhibit the fastest growth rate over the forecast period owing to growing research activities, availability of low-cost labor, and increasing healthcare expenditure.

Key players operating in the immunohistochemistry market are Merck KGaA, Rockland Immunochemicals, Inc., F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, PerkinElmer, Inc., Bio-Rad Laboratories, Inc., Cell Signaling Technology, Inc., Bio SB, Agilent Technologies, Inc., Abcam plc., Becton, Dickinson and Company, Miltenyi Biotec, Biocare Medical, LLC, Eagle Biosciences, Inc., Bio-Techne, Diagnostic Biosystems, Inc., and BioGenex.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

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