The immunohistochemistry market is estimated to be valued at USD 2.88 billion in 2024, growing at a CAGR of 6.5% over the forecast period (2024 – 2031). Furthermore, the market is driven by growing application areas of immunohistochemistry in disease diagnostics and drug development.
Market Dynamics:
The global immunohistochemistry market is primarily driven by the increasing prevalence of chronic diseases such as cancer and cardiovascular diseases. According to the World Health Organization December 2020 report, the cancer burden has risen to 19.3 million new cases and 10 million deaths in 2020. Immunohistochemistry being a vital diagnostic technique allows the identification of tumor biomarkers and facilitates targeted treatment decisions. Similarly, rising geriatric population is another key factor fueling the demand for immunohistochemistry . As per the United Nations data released in January 2023, it is projected that by 2050, globally, the number of people aged 65 and more will be twice the number of children under the age of five and nearly equal to the number of children under the age of twelve. This demographic shift has significantly contributed to the growing incidence of age-related chronic conditions requiring IHC-based diagnostics. With the rising disease burden, increased funding for cancer and other research, and growing applications of IHC across various therapeutic areas, the market is expected to witness steady expansion over the forecast period.
Increasing Prevalence of Cancer and Other Chronic Diseases
One of the major drivers of the immunohistochemistry market is the rising prevalence of cancer and other chronic diseases across the globe. Immunohistochemistry techniques play a vital role in the diagnosis and treatment of various types of cancers like lung cancer, breast cancer, prostate cancer, etc. as well as other chronic diseases. The increasing incidence of cancer patients is expected to boost the demand for effective diagnostic tools like IHC in the coming years.
Advancements in Immunohistochemistry Technologies
Continuous innovations and developments in immunohistochemistry technologies have augmented their applications, thereby acting as a key growth propellant. Various new techniques like double staining, single-plex assays, multiplex assays, whole slide imaging, digital pathology, etc. have enhanced the scope of IHC. Automation systems have replaced traditional manual processes, improving workflow efficiency. Automated immunostainers offer high reproducibility, rapid turnaround times, and reduced costs. Adoption of digital pathology solutions in IHC is transforming disease diagnosis and research. Technological upgrades are positively impacting the IHC market.
High Cost of Advanced Immunohistochemistry Instruments
The high cost of advanced automated immunohistochemistry instruments is a major constraint for their widespread adoption, especially in price-sensitive developing markets. Top-end, fully-automated immunostainers with advanced features come at a heavy price which may not be affordable for small and medium-sized hospitals and diagnostic labs. Also, the need for substantial infrastructure and regular maintenance services further increases the overall expense. This acts as a barrier while procuring new-age automated IHC systems.
Dearth of Skilled Pathologists
Shortage of trained pathologists proficient in immunohistochemistry techniques is another growth impediment. IHC analysis requires specialized skills that take time to learn. As the applications of IHC continue expanding, the training needs of pathologists keep rising. However, there is already a massive deficit of pathologists in many countries. Attracting new talent towards this field also proves challenging. The expertise gap can negatively impact the uptake of IHC technology.
Scope in Emerging Markets
Emerging markets like Asia Pacific, Latin America, Africa, etc. present lucrative opportunities for players in the immunohistochemistry market. A major chunk of the global population resides in developing regions which are witnessing rising healthcare expenditures and growing awareness about early disease diagnosis. Increasing government focus on improving medical infrastructure also favors the adoption of advanced diagnostic tools. Market players can capitalize on this by tailoring their products as per local needs and budgets.
Companion Diagnostics
The growing relevance of personalized medicine has opened up opportunities for immunohistochemistry in the field of companion diagnostics. IHC aids in biomarker detection for better patient selection and monitoring treatment responses. It is widely used alongside targeted therapies in theranostics. Growing pipeline of biologic drugs and increasing approvals of companion diagnostics will further fuel the demand. Developers are focusing more on assay development and validation to expand their presence in this lucrative segment.
Link: https://www.coherentmarketinsights.com/market-insight/immunohistochemistry-market-4795
Key Development
- On January 5, 2024, Biocare Medical, a frontrunner in fully-accessible automated instrumentation, disclosed a strategic partnership with Molecular Instruments (MI), the pioneering developer of HCR imaging technology. This alliance integrates Biocare Medical's proficiency in automated bioimaging systems with MI's advanced HCR products, setting a benchmark for automated in situ hybridization (ISH) and immunohistochemistry (IHC).
- In November 2023, Biocare Medical unveiled its newest offering, the Antigen Retrieval Chamber (ARC). Engineered specifically for Heat-Induced Epitope Retrieval (HIER) featuring in vitro diagnostic (IVD) labeling, ARC guarantees exactness and uniformity. Acknowledging the pivotal role of precise heat, pressure, and buffer solutions, ARC stands as a crucial component for ensuring consistent immunohistochemistry (IHC) and in situ hybridization (ISH) labeling.
- In July 2023, ImmunoChemistry Technologies, a privately-held biotechnology firm, announced the expansion of its product line to encompass Immunohistochemistry (IHC) reagents. The company now presents an extensive array of IHC products, featuring antigen retrievers, blocking reagents, buffers, counter stains, chromogens, and mounting media.
- In March 2021, Roche, a multinational healthcare corporation, introduced the DISCOVERY Green HRP kit, the newest inclusion in its comprehensive selection of modular-based detection kits tailored for identifying and profiling biomarkers and cell types in tissue-based research. The DISCOVERY Green HRP kit, compatible with other detection kits, enhances the multiplexing capabilities of immunohistochemistry (IHC) and in situ hybridization (ISH) methodologies.
Key Players: 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.