Global Immunohistochemistry Market Size (2024 - 2029)

Immunohistochemistry Market Analysis

The immunohistochemistry market is projected to grow at a CAGR of nearly 7.3% over the forecast period.

The SARS-CoV-2 outbreak significantly impacted the market's growth during the initial phase since laboratories, and research institutes faced shortages of reagent supply due to the global lockdown. For instance, as per the ASCP February 2022 update, during the pandemic, the need for specimen tubes and other common laboratory consumables threatened access to all aspects of diagnostic testing. As several research organizations and biopharmaceutical companies evaluated immunofluorescence assay to develop it as an effective diagnostic tool for COVID-19, the reagent shortages hugely impacted the market growth. Moreover, SARS-CoV-2 can also be detected by IHC using a dsRNA antibody. In the post-pandemic situation, the market is expected to rise in the coming years due to the rising utilization of immunohistochemistry in the diagnosis of various chronic diseases.

The major factor contributing to the market's growth is the increase in cancer incidence, as immunohistochemistry is used to diagnose cancer and other diseases including antigen-antibody reactions. For instance, according to the American Cancer Society 2023 Cancer Statistics, it is estimated that about 1.96 million new cases of cancer would be diagnosed in the United States in 2023, as compared to 1.89 million in 2021. Hence, with the increasing burden of cancer and awareness about it, the demand for early diagnostics is expected to increase, thereby boosting growth in the market.

Also, the technological advancements in immunohistochemistry products are likely to improve the efficiency and effectiveness of existing products which is anticipated to have a positive impact on the demand for immunohistochemistry products over the forecast period. For instance, in July 2022, NextCure published a paper that utilized a newly developed antibody to Siglec-15 (S15) and an immunohistochemical (IHC) assay to investigate S15 expression in solid tumors. The publication outlines data from a study conducted in collaboration with researchers in the Department of Pathology at Yale School of Medicine.

Moreover, the rapidly increasing geriatric population and high burden of chronic & infectious diseases are further expected to drive the demand for IHC products for diagnostics and testing applications over the forecast period. For instance, as per a United Nations 2022 report, the global geriatric population is increasing rapidly and the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Since the geriatric population is more prone to chronic diseases, a corresponding rise is likely to increase the utilization of tests and thereby lead to market growth.

However, limited reimbursement policies and the high cost of IHC products are anticipated to restrain the market growth.

Immunohistochemistry Industry Segmentation

As per the scope of the report, immunohistochemistry (IHC) is a technique for detecting antigens or haptens in cells of a tissue section by exploiting the principle of antibodies binding specifically to antigens in biological tissues.

The Immunohistochemistry Market is Segmented by Product (Antibodies, Equipment, and Reagents), Application (Diagnostics and Drug Testing), End User (Hospitals and Diagnostics Centers, Academic & Research Institutes, Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.