North America Immunohistochemistry Market
North America is the largest market for immunohistochemistry, and the US, Canada, and Mexico are the major contributors to the market in this region. The US led the market during forecast period. Immunohistochemistry market growth in the United States is attributed to the rapidly increasing incidence of chronic diseases such as cancer in the country, as well as the growing demand for diagnostics. Immunohistochemistry (IHC) is a widely used technique for cancer diagnosis; it identifies cancer markers in biological tissues selectively. In breast cancer, immunohistochemistry, for example, quantifies the estrogen receptor, progesterone receptor, human epidermal growth factor receptor-2, Ki-67, and p53. According to the Breast Cancer Organization, an estimated 268,600 new cases of invasive breast cancer will be diagnosed in women in the United States in 2019 and approximately 62,930 new cases of non-invasive (in situ) breast cancer will be diagnosed. Thus, as breast cancer becomes more prevalent, the demand for immunohistochemistry is likely to increase. Additionally, this technique is used to diagnose other types of cancer, such as prostate cancer and lung cancer. According to the National Cancer Institute, the country will see 1,735,350 new cancer cases in 2021. Breast cancer, lung and bronchus bronchial cancer, prostate cancer, colon and rectal cancer, melanoma cancer, and liver cancer are the most common types of cancer. Cancer incidences are increasing at an alarming rate in the country, resulting in an increase in demand for cancer diagnosis. Growing incidences of chronic and infectious diseases and rising R&D investments by biotechnology & biopharmaceutical companies are the major factor driving the growth of the North America immunohistochemistry market.
Countries in North America, especially the US, are highly affected due to the COVID-19 outbreak. Various healthcare research centers across the country are focused on COVID-19 treatments. The outbreak pandemic has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increasing demand for invitro diagnostic products and rising research and development activities in North America. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out amid the outbreak and delayed or prolonged procurement of equipment. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches are expected to pave the way for entirely virtual trials in the future. New technologies, such as mRNA, are expected to drive the pharmaceutical industry. Thus, the market is expected to witness vertical integration and joint ventures in coming years.
Strategic insights for the North America Immunohistochemistry provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 838.05 Million |
| Market Size by 2028 | US$ 1,405.86 Million |
| Global CAGR (2021 - 2028) | 7.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Immunohistochemistry refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America immunohistochemistry market is expected to grow from US$ 838.05 million in 2021 to US$ 1,405.86 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2021 to 2028. The emerging markets across the region are creating significant opportunities for the key market players to expand their business. It is likely to be a prime factor contributing to the market growth during the coming years. Majority of the players concentrate on developing markets, owing to the large population suffering from chronic diseases in the region. With rising costs of production against their practices, the healthcare companies are striving to produce sufficient revenue to entertain their investors. The markets in some growing economies are expected to be an essential part of offering more reliable and profitable growth opportunities for the major players to expand their industry scope. Advancements in biotechnology have increased the demand for diagnostics in the healthcare market, encouraging the introduction of a more significant number of immunoassay systems and facilitating the shift toward personalized medicine. There are new opportunities in infectious disease testing, molecular oncology, and pharmacogenomics in emerging countries. Hence, healthcare companies can target patients or consumers in the region. There has been an increase in the healthcare expenditure of the countries during the previous years. Various players in the industry have been investing a significant amount of their revenue in research and development activities for the development of better and advanced products and technologies to be used in the healthcare industry. Presence of significant biopharmaceutical companies in the region and the growing number of local companies are the factors contributing to the market growth in the region. These activities in the region are increasing the demand for immunohistochemistry. Thus, the rising number of infectious disease incidences and advancements in emerging countries are likely to boost the market and are anticipated to provide significant growth opportunities to the players operating in the North America market during the forecast period.
In terms of product, the antibodies segment accounted for the largest share of the North America immunohistochemistry market in 2020. In terms of application, the diagnostics segment held a larger market share of the North America immunohistochemistry market in 2020. Further, the hospitals and diagnostic laboratories segment held a larger share of the North America immunohistochemistry market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the North America immunohistochemistry market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Abcam plc; Agilent Technologies, Inc.; Bio SB; BIO-RAD LABORATORIES INC.; Cell Signaling Technology, Inc.; Danaher; F. HOFFMANN-LA ROCHE LTD.; MERCK KGaA; PerkinElmer Inc.; and THERMO FISHER SCIENTIFIC INC.
The North America Immunohistochemistry Market is valued at US$ 838.05 Million in 2021, it is projected to reach US$ 1,405.86 Million by 2028.
As per our report North America Immunohistochemistry Market, the market size is valued at US$ 838.05 Million in 2021, projecting it to reach US$ 1,405.86 Million by 2028. This translates to a CAGR of approximately 7.7% during the forecast period.
The North America Immunohistochemistry Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Immunohistochemistry Market report:
The North America Immunohistochemistry Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Immunohistochemistry Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Immunohistochemistry Market value chain can benefit from the information contained in a comprehensive market report.
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