The immunohistochemistry market is projected to reach USD 2.12 billion by 2021, at a CAGR of 7.3% during the forecast period.
Rising geriatric population, growing prevalence of chronic diseases, rapid technological developments in the IVD industry, and increasing healthcare spending are expected to fuel the growth of this market in the coming years. However, rapid growth in the developing countries across APAC and Latin America and the increasing demand for personalized medicine are expected to offer significant growth opportunities for players in the immunohistochemistry market. Regulatory restrictions in developed countries, however, are a major challenge faced by market players in the current immunohistochemistry market.
The immunohistochemistry market is segmented into antibodies, reagents, kits, and equipment. In 2015, the antibodies segment accounted for the largest share of the global immunohistochemistry market. The rising adoption of high-throughput assays, such as array comparative genomic hybridization, cDNA microarray, next-generation sequencing techniques, and histological tests, have led to the rapid discovery of thousands of potential antibodies.
Immunohistochemistry market is categorized into two application segments, namely, diagnostics and drug testing. The global immunohistochemistry market for diagnostic applications is further segmented into infectious diseases, cancer, cardiovascular diseases, diabetes, autoimmune diseases, and nephrological diseases. In 2015, the diagnostics segment accounted for the largest share of the global immunohistochemistry market. The large share of this segment is attributed to growing prevalence of cancer, and wide application of immunohistochemistry in the diagnosis of cancers, infectious diseases, cardiovascular diseases, and other diseases.
The major players in the immunohistochemistry market are F. Hoffmann-La Roche AG (Switzerland), Danaher Corporation (U.S.), Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck Millipore (U.S.), Bio-Rad Laboratories, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Abcam plc (U.K.), Cell Signaling Technology, Inc. (U.S.), and Bio SB Inc. (U.S.).
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