Northbrook, IL 60062 -- (SBWIRE) -- 08/28/2023 -- According to the new market research report "Immunohistochemistry (IHC) Market by Product (Antibodies, Reagents, Equipment, Kits), Application (Diagnostics [Cancer, Infectious, Autoimmune Diseases], Research, Forensic), End Users (Diagnostic laboratories, Research Institute) - Global Forecast to 2028" 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 the increased population of geriatric and the increased incidence of cancer cases, technological advancement of IHC, and availability of reimbursements for IHC tests. However, the presence of alternative test, and the high degree of consolidation in the market by the major market players is expected to restrain the growth of this market during the forecast period.

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Key Players:

Prominent players operating in the global immunohistochemistry market include F. Hoffman-La Roche AG (Switzerland), Danaher Corporation (US), and Agilent Technologies, Inc. (US).
IHC Market growth is largely driven by the rising geriatric population and subsequent growth in prevalence of chronic and infectious diseases, technological advancements in IHC, and availability of reimbursements for IHC tests. However, the high degree of consolidation in the by the major market players is expected to restrain the growth of this market during the forecast period.

The Kits product segment accounted for the highest growth rate in the immunohistochemistry market, by product, during the forecast period

In 2022, the Kits product segment accounted for the highest growth rate of the immunohistochemistry market. The demand for complete solutions from a single reliable product provider, like closed-system reagents with calibrated measurements of the required test quantity of reagents and controls among diagnostic laboratories, hospitals, research institutes, and other end users, is growing. Moreover, ready-to-use kits simplify the IHC process by rectifying the initial time-consuming selections of primary antibodies and appropriate stains. This is rapidly increasing the growth of the immunohistochemistry kits market.

Forensics applications segment accounted for the smallest share of the application segment

Based on application, the IHC market is segmented into diagnostic, research, and forensic applications. The forensics application segment accounted for the smallest this market in 2022. In forensics, IHC can play an important role in determining the cause of death. Immunohistochemistry carried out on post-mortem samples helps in determining age-related brain disease (Alzheimer's, strokes) and trauma (often accidental, from falls) and their respective roles in the cause of death. However, its applications in forensic pathology are generally limited to ruling in or out natural disease. This is due to degradation of tissue of a body where the time from death to autopsy is several days.

Hospitals & Diagnostic Laboratories segment accounted for the largest share of the end user segment

Based on end user, the IHC market is segmented into hospitals & diagnostic laboratories, academic & research institutes, and other end users. The hospitals & diagnostic laboratories segment accounted for the largest share of the IHC market in 2022. The growing number of specialty diagnostic tests performed in hospital laboratories, the increasing number of in-house diagnostic procedures in hospitals, and the rising trend of establishing in-house diagnostic capabilities in hospitals to provide time-bound and affordable patient services are factors driving the growth of this market segment.

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Asia Pacific: The fastest-growing region in the immunohistochemistry market.

Based on the region, the immunohistochemistry market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. APAC is expected to register the fastest growth rate during the forecast period. The economic growth in the countries of this region, large population base, the rising prevalence of chronic diseases, the rising standard of living, growing demand for quality medical care, increasing healthcare spending, increasing government initiatives, and rising awareness regarding the use of IHC test are the major factors driving the growth of the Immunohistochemistry market in the Asia Pacific region.