The effective growth in the implementation of automation and machine learning in immunohistochemistry, coupled with the introduction of technologically improved immunohistochemistry solutions, is predicted to progressively propel the market over the review duration. Developments in IHC protocols have fostered its requirement to a great level in disease diagnosis. Moreover, the augment in product approvals and the launch of technologically improved immunohistochemistry systems for disease diagnosis are further fostering market growth.
The foremost aspects that propel the immunohistochemistry market growth are an augment in the prevalence of chronic diseases and an augment in the geriatric population in developed nations. For instance, based on the report published by the Centers for Disease Control & Prevention in 2021, cancer is the leading reason of death and may soon become the leading cause of death around the U.S. Furthermore, the augment in research & development activities in immunohistochemistry and the growth in collaboration between regulatory outsourcing and pharma & biotech market players foster the market growth.
According to the SPER market research, ‘Immunohistochemistry (IHC) Market Size, Share & Trends Analysis By Product, By Application, By End-Users, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030’ states that the immunohistochemistry market is predicted to reach USD 5.8 billion by 2030 with a CAGR of 6.5%. Significant growth in the geriatric population, the prevalence of infectious disease, improved technology, augment in the funding, and investment in research & development activities, are the foremost to the expansion of this market growth.
The growing geriatric population in developed as well as underdeveloped regions will positively propel the growth of the immunohistochemistry market. With the speedy growth in the geriatric population around the globe, the prevalence of age-linked diseases is projected to augment progressively. Reliant on the OECD, the number of elderly individuals living in the US was nearly 50 million during 2019. Other developed regions across the globe also have large and increasing geriatric populations. With the age, the perils of development augment proportionately. Therefore, the growth in the geriatric population is projected to augment the prevalence of several diseases around the world. This is considered a foremost aspect propelling the growth of the immunohistochemistry market for diagnostic applications.
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North America is predicted to register the complete market, in the reviewed period. The market growth is owing to the aspects such as the existence of market players, the great prevalence of cancer and several other chronic diseases in the region, and the established healthcare infrastructure are some of the foremost aspects accountable for its large share in the market. The increasing requirement for efficient diagnostic solutions to gain proper treatment for chronic diseases is also projected to propel the growth of the market in the United States.
The industry’s key players are developing cutting-edge goods that are predicted to propel the immunohistochemistry market enlargement. The introduction of these clinical diagnostic markers might aid the immune-oncology field in improving early medication advancement for the treatment of cancer. Throughout the review period, the immunohistochemistry market is projected to enlarge at a faster rate thanks to the advancement in research & development.
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