The latest market report published by Credence Research, Inc. “Global Immunohistochemistry Market – Growth, Future Prospects, Competitive Analysis, 2017 – 2025,” the global immunohistochemistry market was valued at US$ 1,555.2 Mn in 2016, and is expected to reach US$ 2,986.4 Mn by 2025 expanding at a CAGR of 7.19% from 2017 to 2025.
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Immunohistochemistry is a method used for localizing specific antigens in tissues or cells using antibodies, enzyme conjugates and substrate chromogens. The antigen-antibody reaction can be visualized with an optical microscope. Traditional immunodetectors use the 3 step Biotin-Streptavidin-Enzyme technique; however, recent technological advancement has developed the polydetectors and cytodetectors kits that employ tandem hyperlabelling technology to directly label immunoglobulins with enzymes, resulting into reproducible and consistent immunostaining for all types of nuclear, cytoplasmic and membranal antigens in different types of tissues or cells.
In 2016, antibodies segment dominated the market due to key market drivers such as increasing demand for personalized medication and technological advancement in biologicals for the treatment of chronic diseases. Reagents segment will be the fastest growing market throughout the forecast period 2017-2025, majorly due to steadily increasing number of diagnostic centers and public private partnership to combat life threatening diseases by setting research and development centers. In 2016, diagnostics dominated the application classification due to factors such as rising prevalence of chronic diseases and increasing public health awareness resulting in the rising number of diagnostics centers. Drug testing segment will be the fastest growing application throughout the forecast period 2017-2025, due to the factors such as rising incidences of drug related adverse events and study the microbe metabolism due to increasing incidence of multiple drug resistance bacterial infections.
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In 2016, North America held the largest revenue share mainly due to factors such as rising prevalence of chronic diseases, matured biotechnology market and increasing commercialization of the immunohistochemistry products and developed research and healthcare institutions. Asia Pacific will be the fastest growing market throughout the forecast period 2017-2025, majorly due to factors such as high competition due to presence of existing and budding biopharmaceutical manufacturers involved in producing immunohistochemistry reagents and equipment in these regions and supportive regulatory environment for immunohistochemistry products.
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Key Market Movements:
- Rising prevalence of chronic diseases
- Steadily increasing diagnostic centers due to growing awareness of physicians
- Supportive regulatory environment for immunohistochemistry products
- Technological advancement in the tissue processing systems and staining reagents to identify biomarkers related to malignant tumors
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