The expanding elderly population, which has resulted in an increase in the frequency of chronic and infectious diseases, technological developments in IHC, and the availability of reimbursements for IHC tests are all driving market expansion. The high level of consolidation among the leading market players, on the other hand, is likely to limit the market’s expansion throughout the projection period.
During the projection period of 2021 to 2026, the global immunohistochemistry market is expected to grow at a CAGR of 7.7%, from USD 2.3 billion in 2021 to USD 3.3 billion in 2026.
Impact of COVID-19 on the Immunohistochemistry Market
Coronavirus disease 2019 (COVID19) is an acute respiratory infectious disease caused by the coronavirus 2 (SARSCoV2) of the severe acute respiratory syndrome. COVID-19, which was mostly unknown until the outbreak in Wuhan, China, in December 2019, has gone from a regional issue to a global pandemic in a matter of weeks. On March 11, 2020, the World Health Organization (WHO) proclaimed COVID-19 a pandemic. To cure the infection, a great deal of effort has gone into finding new medicines and vaccinations. Companies began developing medications and treatments to combat the virus after only a few weeks of investigation.
Market Trends in Immunohistochemistry
DRIVER: As the number of the elderly grows, so does the prevalence of chronic and infectious diseases.
The growing elderly population in both developed and developing countries will boost the growth of the IHC market. The prevalence of age-related disorders is predicted to rise dramatically as the global geriatric population grows rapidly. According to the OECD, there were 54 million senior individuals in the United States in 2019. Geriatric populations are likewise significant and expanding in other industrialised economies around the world. The probability of getting diseases rises in lockstep with age. As a result, the global prevalence of numerous diseases is predicted to rise as the elderly population grows. This is thought to be a major driver of the IHC market for diagnostic applications.
There is a lot of consolidation going on.
The top three firms in the global immunohistochemistry industry—F. Hoffmann-La Roche AG (Switzerland), Danaher Corporation (US), and Agilent Technologies, Inc. (US)—will control 70 percent to 80 percent of the market in 2020.
Antibody patent expiration is a serious issue in the immunohistochemistry market. Some of F. Hoffmann-La Roche AG’s (Switzerland) and Merck’s (Germany) main antibodies are about to lose their patent protection. As a result, these market players’ overall revenue and profitability are declining. Furthermore, industry operators are confronted with issues such as increased price pressure from governments around the world and decreased R&D production. Large market companies are purchasing smaller and mid-sized market players with novel patented items to tackle these problems. This gives these items access to a vast financial and distribution network, allowing them to expand their reach into new areas around the world.
Personalized treatment is becoming more popular.
Personalized therapy has proven to be incredibly successful for patients with non-small-cell lung cancer, and its use is projected to rise in the future. By performing the most extensive and accurate histological subtyping of tumours feasible, immunohistochemistry techniques assist this approach to treatment decision-making (supported by predictive immunohistochemistry and the assessment of relevant biomarkers). Furthermore, the increased availability of immunohistochemical assays that detect mutant proteins (e.g., BRAF V600E and IDH1 R132H) serves as a useful substitute and/or supplement to molecular testing. These approaches are highly reproducible, have a low level of technical and interpretative difficulty, and are very inexpensive, making them significant new tools in current cancer treatment. The development of multiplex and mutation-specific immunohistochemistry assays are significant advancements that will improve the utility of personalised medicine and targeted therapy.
A scarcity of qualified professionals
Because of the rising prevalence of cancer, there has been a huge increase in the need for pathology services for clinical applications. The majority of cancer patient testing are performed using histopathology technologies. However, there is a scarcity of trained personnel in these labs. A substantial number of histopathologists have reached retirement age, while just a few new ones are being trained. Laboratories, on the other hand, are under pressure to process an increasing volume of specimens with less resources.
The diagnostic applications segment took up the most of the application market.
The IHC market is divided into diagnostic, research, and forensic applications based on application. In 2020, the diagnostic application category dominated the market, and it is expected to grow at the fastest rate throughout the forecast period. The advantages of IHC over historically utilised special enzyme staining techniques that identify just a limited number of proteins, enzymes, and tissue structures are important contributors in this segment’s growth. As a result, IHC has become an important method that is widely utilised in both medical research and clinical diagnoses.
In 2020, the antibodies segment had the greatest market share.
The IHC market is divided into antibodies, reagents, equipment, and kits based on the type of product. Antibodies held the greatest proportion of the IHC market in 2020, accounting for 45.5 percent. As a result of rapid expansion in the field of immunohistochemistry, which has subsequently stimulated the research and development of various antibodies in the past decade, the Antibodies and Kits sector is expected to be the leading segment in terms of growth rate throughout the projected period. Antibodies are also useful diagnostic and therapeutic tools in immunology. The expansion of the Kits market is being fueled by rising demand for complete solutions from a single provider, as well as the benefit of simplifying the IHC procedure.
The end user sector Hospitals & Diagnostic Laboratories accounted for the greatest share of the total.
The IHC market is divided into three types of end users: hospitals and diagnostic laboratories, academic and research institutes, and other end users. In 2020, hospitals and diagnostic laboratories held the greatest proportion of the IHC market (74.8 percent). Factors driving the growth of this market segment include an increase in the number of specialty diagnostic tests performed in hospital laboratories, an increase in the number of in-house diagnostic procedures performed in hospitals, and an increase in the trend of hospitals establishing in-house diagnostic capabilities to provide time-bound and affordable patient services.