The global immunohistochemistry (IHC) market is expected to register a CAGR of 8 percent by 2023, predicts Research and Markets. The aging population is vulnerable to several infectious diseases and has a high risk of health complications, thus, driving the immunohistochemistry market growth. Furthermore, the rising aging population has also contributed to increased expenditure on healthcare for disease diagnosis, health check-ups, and treatment. As a result, the demand for IHC tests increases as they help the doctors in deciding on appropriate treatment options.
One of the growth drivers of the global IHC market is the increasing involvement of stakeholders such as consumers, vendors, government bodies, academicians, regulatory organizations, associations, and raw material suppliers.
One of the challenges in the growth of the global IHC market is product recalls that affect the reputation of the company, resulting in significant financial losses, loss in market share, and serious damage to brand integrity, thus hindering the growth of the market.
The market appears to be moderately concentrated with the presence of a few market players. Vendors in the market are increasingly focusing on offering products with improved features and specific manufacturing standards to sustain in the market.
The major global players in the IHC market include F. Hoffmann-La Roche AG (Switzerland), Danaher Corporation (U.S.), Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck Millipore (U.S.), Bio-Rad Laboratories, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Abcam plc (U.K.), Cell Signaling Technology, Inc. (U.S.), and Bio SB Inc. (U.S.).