CHICAGO , Aug. 27, 2024 /PRNewswire/ -- The global Immunohistochemistry Market is valued at an estimated USD 3.4 billion in 2024 and is projected to reach USD 5.
2 billion by 2029 at a CAGR of 7.2% during the forecast period. The global Immunohistochemistry (IHC) market is driven by the rising incidence of cancer, which increases the demand for accurate diagnostic tools like IHC tests.
Innovations in antibodies and automated equipment have improved the accuracy and efficiency of cancer detection, while the growing adoption of personalized treatment plans presents significant opportunities. However, alternative technologies such as in situ hybridization, NGS, and RNA sequencing pose challenges to IHC market growth. The rise of digital pathology, offering benefits like reduced turnaround times and improved workflow, further supports market expansion.
Nevertheless, the lack of standardization in IHC products limits growth, though ongoing efforts to address this issue are underway. Companion diagnostics, which tailor treatments to individual patients, also present opportunities for market growth. Despite competition from alternative methods, the IHC market continues to grow, with significant contributions from major players like F.
Hoffmann-La Roche, Danaher Corporation, and Agilent Technologies. The diagnostic applications segment holds the largest market share, driven by the increasing need for accurate disease diagnosis, while antibodies remain the most significant product segment. Hospitals and diagnostic laboratories are the primary end users, with North America experiencing notable growth due to advanced diagnostic infrastructure and high disease prevalence.
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