DUBLIN–(BUSINESS WIRE)–The “Immunohistochemistry Market Forecast to 2028 – COVID-19 Impact & Global Analysis by Application (Diagnostics, and Drug Testing); Product (Antibodies, Equipment, Reagents, and Kits); End User (Hospitals and Diagnostic Laboratories, Research Institutes, and Others), & Geography” report has been added to ResearchAndMarkets.com’s offering.
The immunohistochemistry market is expected to reach US$ 3,585.31 million by 2028 from US$ 2,171.61 million in 2021; it is estimated to register a CAGR of 7.4% from 2021 to 2028.
Rising incidence of chronic and infectious diseases, increasing geriatric population, and rising R&D investments by biotechnology and biopharmaceutical companies are the key factors driving the market. However, the limitations associated with immunohistochemistry are hindering the market growth.
Immunohistochemistry (IHC) refers to an important application of monoclonal and polyclonal antibodies for tissue determination and distribution of antigens of a particular disease. It is majorly used to detect several infectious disorders such as dengue, hepatitis, and AIDS. Immunohistochemistry helps diagnose chronic medical conditions like obesity, cancer, diabetes, heart disease, and stroke.
According to the Joint United Nations Programme on HIV/AIDS (UNAIDS), 37.6 million people across the globe had HIV in 2020. 35.9 million were adults, and 1.7 million were children (< 15 years old). An estimated 1.5 million individuals worldwide acquired HIV in 2020. According to the HIV and AIDS organization (AVERT), in 2018, 1.1 million US residents were infected with HIV, whereas APAC registered 5.2 million HIV-infected population. According to the European CDC, ~2 million people in Europe were infected with HIV in 2018.
Diabetes is prevailing at a high rate in the geriatric population worldwide. The prevalence of diabetes is more in overweight and obese people. As per data published by the Centers for Disease Control and Prevention (CDC) in 2017, ~30.3 million people, representing 94% of the population of the US, were diabetic. Among these, ~23.1 million people were diagnosed with diabetes, while ~7.2 million had not undergone a proper diagnostic procedure.
The obesity rates have been increasing rapidly in developed as well as developing economies across the globe. Factors such as unhealthy lifestyles and sedentary life are significant factors for the rise in the number of obese individuals. As per the data published by National Center for Health Statistics (NCHS), the prevalence of obesity is expected to be around 39.8%, affecting about 93.3 million US adults between the years 2015 to 2016. The incidence of obesity was significantly high among middle-aged adults (42.7%) compared to younger adults (35.7%). The increase in the number of obese people in the US has also led to rising healthcare expenditure.
Cardiovascular diseases (CVDs) include cerebrovascular disease, rheumatic heart disease, coronary heart disease, and other conditions. It is the most significant cause of morbidity and mortality worldwide. According to the European Cardiovascular Disease Statistics 2017, every year, cardiovascular diseases cause 3.9 million deaths and more than 1.8 million deaths in the European Union (EU). CVDs account for 45.0% of all deaths in Europe and 37.0% of deaths in the EU. Furthermore, as per the American Heart Association (AHA) 2019 statistics, 121.5 million adults in the US-which is around half of the US adult population-suffer from cardiovascular diseases.
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Market Dynamics
Drivers
- Rising Incidences of Chronic and Infectious Diseases
- Increasing Geriatric Population
- Increasing R&D Investments by Biotechnology & Biopharmaceutical Companies
Restraints
- Limitations Associated with Immunohistochemistry
Opportunities
- Development Opportunities in Emerging Countries
Future Trends
- Increasing Acceptance of Automation in Immunohistochemistry
Companies Mentioned
- F. Hoffmann-LA Roche AG
- Merck KGaA
- PerkinElmer, Inc.
- Thermo Fisher Scientific, Inc.
- Abcam Plc
- Agilent Technologies
- Bio SB
- Bio-Rad Laboratories
- Cell Signaling Technology, Inc.
- Danaher Corporation
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