Key Players dominating the Immunohistochemistry/IHC Market

Pune, India, 2021-Aug-17 — /EPR Network/ —

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. 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.

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Key Players of Market are:

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).

North America accounted for the largest share of the IHC market

North America accounted for the largest share of the IHC market, followed by Europe in 2019. 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.

The cancer segment accounted for the largest share of the diagnostic segment in the IHC market

Based on diseases, the diagnostic applications is further segmented into infectious diseases, cancer, autoimmune diseases, neurology, nephrological diseases, and other diseases (cardiovascular diseases, ophthalmology, and diabetes). In 2019, the cancer diagnostics segment accounted for the largest share  of the immunohistochemistry market for diagnostic applications Growing use of IHC tests for cancer diagostics and increasing prevalence & incidence of cancer to fuel market growth.