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(IT-NEWSWIRE.COM, December 11, 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.COVID-19 impact on IHC market
Globally, the COVID-19 outbreak has impacted every aspect of the diagnostic industry, including IHC testing. In the last few months, the number of patient visits to hospitals has reduced significantly, despite emergency OPD and laboratory services being available in hospitals.
After commencing cancer surgeries or any other surgeries, surgeons run an IHC test/assay to decide the best treatment for patients. However, due to lockdowns in Q1 & Q2 2020 in many countries, the number of elective surgeries and diagnostic tests has significantly reduced. As a result, the number of IHC tests has reduced. This has significantly reduced the sales of IHC products in Q1 2020 and, to some extent, in Q2 2020.
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Growing incidence and prevalence of cancer
Over the years, the prevalence of cancer has risen rapidly across the globe. According to GLOBOCAN, in 2018, the prevalence of cancer was 43.8 million globally (9.6 million cancer deaths were registered in the same year). The incidence of cancer was 18.1 million new cases in 2018, and this figure is expected to increase to 29.5 million by 2040. The increase in the incidence of cancer can be attributed to the growing geriatric as well as the total population.
Immunohistochemistry is most commonly used in the diagnosis and management of cancer. Some of the diagnostic uses of IHC include distinguishing invasive carcinoma from pseudo-invasive lesions, differentiating usual ductal hyperplasia (UDH) from atypical ductal hyperplasia (ADH/LG-DCIS), ruling out micro-invasion, identifying breast cancer histologic subtypes and molecular phenotypes, and confirming the breast as the primary site in metastatic carcinoma.
The use of IHC in the management of metastatic melanoma with the help of PD-L1 IHC immune therapeutics in the recent past has revolutionized immuno-oncology. It is also used to predict therapeutic response in two important tumors, i.e., carcinoma of breast and prostate. Thus, the rapidly growing incidence and prevalence of cancer will propel the demand for immunohistochemistry products.
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).
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North America accounted for the largest share of the Immunohistochemistry market.
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.
Companies Covered in Immunohistochemistry (IHC) Market
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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