Immunohistochemistry Market

Market Overview

The global immunohistochemistry market was valued at USD 1.78 billion in 2021. It is projected to reach USD 4.02 billion by 2030, growing at a CAGR of 9.48% during the forecast period (2022–2030).

Immunohistochemistry is a microscopy technique for identifying antigens and macromolecular cellular components. It entails the visualization of the presence and localization of the target protein in diverse cell types, biological cycles, and even subcellular localization within complex tissues. Recent developments in IHC include the sensitive detection of multiple proteins in a single sample and the accessibility of detecting protein-protein interactions. This technique can be used for drug testing and diagnosing numerous diseases.

Immunohistochemistry is essential for developing biomarkers. Immunohistochemistry treats conditions such as cancer, heart disease, infectious disease, and endocrinology, boosting the market. Cancer tissue is stained with immunohistochemistry (IHC) to identify the presence of HER2 receptors, which play an essential role in cancer treatment. Soon, the growing demand for targeted immunotherapy and biologic therapy in anticancer drug development and the increase in FDA approvals are anticipated to stimulate market growth.

Market Dynamics

Market Drivers

• Rising Geriatric Population

The prevalence of age-related diseases is anticipated to rise significantly with the global geriatric population's rapid growth. There are sizable and rising geriatric populations in other developed economies worldwide. The risk of contracting infections rises proportionately with age. Therefore, it is anticipated that the prevalence of various diseases will rise globally as the geriatric population grows. This is considered a vital driver of the IHC market for diagnostic applications.

• New Product Launches

Industry development would be aided by key market leaders focusing more on technological advancements following current needs. The market is anticipated to increase due to the introduction of new immunohistochemistry products to address the problems mentioned earlier. The major players are developing cutting-edge products that are anticipated to spur market expansion. Introducing these clinical diagnostic markers would aid in advancing early-stage drug development for cancer treatment in immuno-oncology. During the forecast period, the market would expand faster due to the growth in R&D.

Market Restraint

• High Degree of Consolidation

Antibody patent expiration is a significant problem for the global market. Some primary antibodies produced and sold by Merck (Germany) and F. Hoffmann-La Roche AG (Switzerland) are about to lose their patent protection. As a result, these market participants are experiencing a decline in their overall revenue and profitability. Additionally, market participants must contend with issues like increased price pressure from governments worldwide and decreased R&D output. Prominent market players are acquiring smaller and mid-sized players with innovative patented products to overcome these obstacles. This gives these products a significant financial and distribution platform to expand into new global markets.

Market Opportunities

• Increasing Demand for Personalized Medicine

The use of personalized medicine is anticipated to grow due to its extraordinary efficacy in treating non-small-cell lung cancer patients. Immunohistochemistry techniques support this method of treatment decision-making by carrying out the most thorough and accurate histological subtyping of tumors. The increased accessibility of immunohistochemistry assays that identify mutant proteins is a helpful replacement and addition to molecular testing. These methods are valuable new tools in contemporary cancer treatment because they are highly reproducible, involve a manageable level of technical and interpretive complexity, and are relatively less expensive. Essential advancements in personalized medicine and targeted therapy include the development of multiplex and mutation-specific immunohistochemistry assays.

Segmental Analysis

The global immunohistochemistry market is segmented by product, application, and end-user.

By Product

Based on product, the market is segmented into antibodies, equipment, reagents, and kits.

The antibodies segment dominated the market and accounted for the most significant global revenue share owing to the vital usage of antibodies in disease diagnosis and drug testing. Regarding usage rate, monoclonal antibodies and related products—such as Fc-fusion, antibody fragments, and antibody-drug conjugates—have taken the lead. Antibiotics are used in various fields, including neuropathology, hematopathology, and pathology. The kits segment is expected to grow at the fastest CAGR during the forecast period.

By Applications

Based on applications, the market is bifurcated into diagnostics and drug testing segments.

The diagnostics application accounts for the largest revenue share and is anticipated to maintain its lead during the forecast period. Immunohistochemistry tests commonly diagnose various chronic diseases, including cancer, cardiovascular diseases, infectious diseases, diabetes mellitus, autoimmune diseases, and nephrological diseases. In addition, the growing prevalence of chronic diseases is expected to propel the diagnostics market.

By End-User

Based on end-user, the market is categorized into hospitals, diagnostic laboratories, and research institutes.

The hospitals and diagnostic laboratories will dominate the market and generate the highest revenue share during the forecast period. This expansion was attributable to the large number of IHC tests performed in hospital settings. In addition, as the healthcare industry continues to evolve, the demand for hospitals with advanced facilities has increased. In turn, this is expected to increase the segment's revenue flow.

Regional Analysis

The regional analysis of the global immunohistochemistry market includes North America, Europe, Asia Pacific, and LAMEA.

North America will dominate the global immunohistochemistry market during the forecast period. The presence of significant market participants, the accessibility of IHC solutions, the increased adoption of technologically advanced IHC instruments, and the introduction of new IHC solutions are key factors contributing to the expansion of the regional market. Asia-Pacific is anticipated to experience the highest CAGR during the forecast period. This is primarily due to the expansion of global players' geographic footprint in Asian markets. In addition, a large patient population in countries such as India and China provides many clinical subjects for IHC R&D assays, resulting in increased revenue.

Recent Developments

June 2022- Roche launched human papillomavirus (HPV) self-sampling solution, expanding cervical cancer screening options. 

February 2022- Moderna and Thermo Fisher Scientific Announced Long-Term Strategic Collaboration. Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, and Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced a 15-year strategic collaboration agreement to enable dedicated large-scale manufacturing in the U.S. of Spikevax, Moderna's COVID-19 vaccine, and other investigational mRNA medicines in its pipeline.

February 2022- New Genetic Analyzer Brings Advanced Capabilities to Sanger Sequencing and Fragment Analysis. Capillary electrophoresis (C.E.), which enables Sanger sequencing and fragment analysis, is essential for improving clinical research and advancing scientific discovery. To further enable customers' cutting-edge research in areas such as gene editing and infectious disease, Thermo Fisher Scientific introduced the new Applied Biosystems SeqStudio Flex Series Genetic Analyzer.

Immunohistochemistry Market Segmentation

By Product

• Antibodies
• Equipment
• Reagents
• Kits

By Application

• Diagnostics
• Drug Testing

By End-User

• Hospitals
• Diagnostic Laboratories
• Research Institutes

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA