The global immunohistochemistry (IHC) market was valued at USD 2.33 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030. This growth is driven by several key factors, including the increasing implementation of automation and machine learning technologies in immunohistochemistry, as well as the continuous introduction of advanced, cutting-edge IHC solutions. These innovations are expected to substantially fuel the market's expansion throughout the forecast period. Additionally, improvements in IHC protocols have led to a significant rise in its demand, especially for disease diagnosis. The approval and launch of more advanced IHC systems for disease detection are also major contributors to the market’s upward trajectory.

Emerging techniques like multiplexed IHC, which enables multiparametric and detailed analysis from a single tissue sample using advanced mass spectrometric detection methods, are playing a crucial role in driving the market. Multiplexed IHC overcomes the challenges associated with fluorescence detection-based methods, thus contributing to an increase in market revenue. Furthermore, the growing elderly population in both developed and emerging countries is expected to positively influence the immunohistochemistry market. As the global geriatric population increases, the prevalence of age-related diseases is also anticipated to rise, which will further stimulate the demand for IHC technologies.

For example, during the COVID-19 pandemic, IHC methods, along with RT-PCR and electron microscopy, were used to detect SARS-CoV-2, revealing that the impact of the virus extends beyond just the lungs. This underscores the expanding role of IHC in diagnosing a broader range of conditions.

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Application Insights

The immunohistochemistry market is categorized into two primary application segments: diagnostics and research. The diagnostics segment held the largest revenue share, accounting for more than 69.16% in 2022, and is expected to maintain its dominance over the forecast period. Immunohistochemistry is widely utilized in diagnosing various chronic diseases, including cancer, cardiovascular diseases, infectious diseases, diabetes, autoimmune disorders, and nephrological diseases. The increasing prevalence of these chronic conditions is anticipated to further boost the demand for IHC-based diagnostic applications.

For instance, according to data from the American Cancer Society, approximately 1.9 million new cancer cases were expected to be diagnosed in the U.S. in 2021. As the number of cancer diagnoses continues to rise, the demand for IHC techniques that provide rapid, accurate, and efficient diagnosis is growing. This increased demand for IHC is further fueled by the rising levels of research and development (R&D) activities in the pharmaceutical sector. Pharmaceutical companies are focusing on developing new and innovative drugs, which will drive the demand for advanced IHC solutions.

An example of this growing focus on innovation is NHS England's announcement in July 2021 of a novel Innovative Medicines Fund, aimed at accelerating the development of new drugs. This initiative is expected to contribute to the overall expansion of the immunohistochemistry market by promoting the use of IHC in both research and clinical settings.

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