“The rising prevalence of cancer, increased application of digital pathology, technological advancements in IHC, and availability of reimbursements for IHC tests is driving the overall growth of the immunohistochemistry market”
The global immunohistochemistry market is projected to reach USD 4.7 billion by 2028 from USD 3.2 billion in 2023, at a CAGR of 7.4% during the forecast period of 2023 to 2028. Market growth is largely driven by increased prevalence of cancer and vast application of IHC test in the diagnosis and management of cancer. Also, development for companion diagnostics and the integration of companion diagnostics with IHC is facilitating personalized medicine, supporting drug development and approval processes, expanding market potential, improves patient outcomes, encouraging research collaboration, and providing growth opportunities for Immunohistochemistry Market.
Histological Stain is expected to account for the largest share for by reagents segment.
In 2022, immunohistochemistry histological stains market accounted for the largest share. In immunohistochemistry, the relative localization of the target can be obtained by visualizing all relative targets in one slide with the help of multiple staining techniques. Multiple staining is the detection of two or more targets on a single slide, and it can be done by sequential staining, simultaneous staining, and multi-step staining using dyes. Hence, the advanced ability to multiplex antigenic sites in a single tissue section presents an experimental and ease-of-use advantage, which is expected to drive the market for histological stains.
Research applications segment accounted for the second-largest share of the application segment
In 2022, research applications accounted for the second largest share. IHC in research applications includes anti-tumor drug development and biomarker discovery. IHC helps to investigate the expression of specific proteins and co-localization of proteins within the membrane, cytoplasm, or nucleus to study the altered expression in normal and abnormal cells, more specifically to investigate the cancer proteome. High-throughput automated IHC platforms used in research applications help to maintain the uniformity of staining between slides. Due to these advantages, IHC techniques are also widely used in developmental (embryological) studies, stem cell research, and drug testing.
Asia Pacific is the fastest growing region in the immunohistochemistry market
The immunohistochemistry market is segmented into North America, Europe, Asia Pacific, Latin America (LATAM) and Middle East and Africa (MEA). Asia Pacific is the fastest growing region in as it is a high-growth market, which is characterized by the fast adoption of the latest technologically advanced products (like assays and diagnostic kits) in research and clinical applications. This factor, coupled with the increasing geriatric population in the region are the key drivers for fast growth rate.
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