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(IT-NEWSWIRE.COM, October 07, 2020 ) The increasing incidence and prevalence of cancer, technological advancements in IHC, and the availability of reimbursement for IHC tests are the major factors driving the growth of this market. The global immunohistochemistry market is projected to reach USD 2.7 billion by 2025 from USD 1.9 billion in 2020, at a CAGR of 6.6% during the forecast period.
Immunohistochemistry (IHC) Market by Product (Antibodies, Reagents (Chromogenic Substrates), Kits), Application (Diagnostics (Cancer, Infectious), Research, Forensic), End User (Hospitals, Diagnostic Laboratories, Academic) - Global Forecast to 2025.
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Personalized medicine for non-small-cell lung cancer patients has proven to be extremely effective, and its use is expected to increase in the future. Immunohistochemistry techniques support this approach to treatment decision-making by performing the most complete and accurate histological subtyping of tumors possible (supported by predictive immunohistochemistry and the assessment of relevant biomarkers). Moreover, the increased availability of immunohistochemistry assays that detect mutant proteins (e.g., BRAF V600E and IDH1 R132H) provides a helpful replacement and/or adjunct for molecular testing. These techniques are highly reproducible, entail reasonable technical and interpretation complexity, and are available at relatively lesser costs, making them valuable novel tools in modern cancer care. The development of multiplex and mutation-specific immunohistochemistry assays represents important innovations, which provide improved utility in the context of personalized medicine and targeted therapy. The PD-L1 IHC assay is currently being used in late-stage nivolumab clinical studies for multiple indications, including non-small-cell lung cancer.
Similarly, tissue diagnostic reagents, test products, instrumentation, and other related products, which are widely used by both clinical and research laboratories, are an integral part of the development of personalized medicine. As a result, the growth of the tissue diagnostics market (this market is expected to grow from USD 3.4 billion in 2020 to USD 4.7 billion by 2023, at a CAGR of 6.5%, according to MarketsandMarkets Repository) is expected to provide opportunities for the growth of the IHC market (as IHC is a part of tissue diagnostics).
Based on the product, the IHC market is segmented into antibodies, reagents, equipment, and kits. In 2019, the antibodies segment accounted for the largest share of the IHC market. The large share of this segment can be attributed to the mandatory use of antibodies in carrying out the immunohistochemistry diagnosis of various diseases (including cancer, infectious diseases, and other diseases) and the growing use of research antibodies for drug development.
Based on applicationthe IHC market is segmented into diagnostic, research, and forensic applications. Diagnostic applications accounted for the largest share of this market, owing to the increasing incidence & prevalence of cancer, growing burden of infectious diseases, and the favorable reimbursement scenario for IHC tests.
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Geographical Region
In 2019, North America accounted for the largest share of the IHC market. The growth in this regional market can be attributed to the presence of major players operating in the IHC market in the US, rising incidence of cancer and infectious diseases, and the increasing adoption of companion diagnostic assay kits.
Key Players
The global IHC market is dominated by a few globally established players such as F. Hoffmann-La Roche Ltd (Switzerland), Agilent Technologies, Inc. (US) Danaher Corporation (US), PHC Holding Corporation (Japan), Biocare Medical, LLC. (US), and Merck KGaA (Germany).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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