The immunochemistry products market is anticipated to record a CAGR of 7.25% during the forecast period, up from USD 2.08 Billion in 2021 to reach a valuation of USD 4.5 Billion by 2032.
The immunochemistry products market is anticipated to show promising growth owing to its increase used to treat various illnesses and chronic diseases.
| Attributes | Details |
|---|---|
| Immunochemistry Products Market Value (2021) | USD 2.08 Billion |
| Immunochemistry Products Market Value (2032) | USD 4.5 Billion |
| Immunochemistry Products Market CAGR (2022-2032) | 7.25% |
Sales of immunochemistry products are expected to rise as IHC (Immunochemistry) has grown in prominence in clinical diagnostics. As a result, the rising frequency of chronic illnesses is expected to boost demand for immunohistochemistry products, adding to immunochemistry market development.
Increasing number of patients with various diseases such as cardiovascular disorders and cancer is also projected to contribute to the growth of the immunochemistry products market share. Immunohistochemistry products are most widely utilized in cancer detection and treatment. Aside from that, the alarming increase in medical and healthcare spending, as well as the increasing focus on value-based healthcare solutions, are significantly boosting the sales of immunohistochemistry products and propelling the immunohistochemistry products market growth.
The report sheds light on the factors improving the sales of immunochemistry products, and, in turn, the opportunities for the market players. However, the immunochemistry products market also faces some challenges, which might limit the immunochemistry products market share from reaching its potential.
Some of the key immunochemistry products market trends promoting the demand for immunochemistry products include technological innovation and increased knowledge of novel diagnostic tools among medical professionals, as well as the availability of reimbursements for IHC tests, which have all been projected to favorably impact the growth of the global immunochemistry market.
Moreover, personalized medicine has shown to be incredibly beneficial for patients with non-small-cell lung cancer, and its usage is predicted to have a significant impact on sales of immunohistochemistry products. The creation of multiplex and mutation-specific immunochemistry tests is a significant advancement that is anticipated to boost the immunochemistry products market during 2022 to 2032.
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Cancer's rising incidence rate is anticipated to drive up the sales and demand for immunochemistry products throughout the forecasted period. As immunochemistry products are widely used to diagnose cancer and other disorders involving antigen-antibody reactions.
According to the National Institutes of Health (NIH), an estimated 1,735,350 new cancer cases were discovered in the United States in 2018, with 609,640 individuals dying from the illness, this factor had a great impact on the sales of immunochemistry products. Furthermore, the expanding geriatric population and the increasing number of diagnostic facilities are driving demand for Immunochemistry products and market development.
Biotechnology companies' increasing spending in research and development programmes and innovative strategies to increase the sales and demand for immunochemistry products are also positively impacting the immunochemistry products market growth.
Depending on geographic regions, global immunochemistry market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.
North America followed by Europe dominates the global immunochemistry market due to the easing number of patients with cardiovascular disorder and cancers, growing aging population, developed healthcare infrastructure, and growing demand for immunochemistry products or immunoassay technologies in these regions. This region is also anticipated to record an increase in revenue generated by sales of immunochemistry products by key players.
Asia-Pacific is the fastest emerging market for global immunochemistry due to growing patient population with cardiac diseases, increasing awareness about advanced immunochemistry products available in the immunochemistry products market, developing healthcare infrastructure and rising government spending in healthcare industry in this region.
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Some of the key players in global immunochemistry market are F. Hoffmann-La Roche Ltd, Siemens Healthcare, Danaher Corporation, ImmunoChemistry Technologies, LLC, Beckman Coulter Inc., Ortho Clinical Diagnostics and Thermo Fisher Scientific Inc.
The report consists of key players contributing to the immunochemistry products market share. It also consists of organic and inorganic growth strategies adopted by market players to improve their market positions. This exclusive report analysis the competitive landscape and Immunochemistry Products market share acquired by players to strengthen their market position.
New Developments
| Report Attribute | Details |
|---|---|
| Growth rate | CAGR of 7.25% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 to 2020 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD million, volume in units, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments covered | Product, application, end user, region |
| Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand |
| Country scope | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa |
| Key companies profiled | AGC Inc.; Cevital Group; Euroglas; Guardian Industries; Saint-Gobain; Vitro |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
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The immunochemistry products market is forecasted to register a CAGR of 7.25% during the forecast period.
Key players holding substantial Immunochemistry Products market share include F. Hoffmann-La Roche Ltd, Siemens Healthcare, Danaher Corporation, ImmunoChemistry Technologies, LLC, Beckman Coulter Inc., Ortho Clinical Diagnostics and Thermo Fisher Scientific Inc.
As per the analysis, the immunochemistry products market share is likely to be USD 4.5 Billion by 2032.
Demand for immunochemistry products is likely to rise on the back of an increasing number of patients with various diseases such as cardiovascular disorders and cancer.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 5.1. Instruments 5.2. Consumables 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Infectious Diseases 6.2. Blood Disorder 6.3. Drug of Abuse Testing 6.4. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Users 7.1. Medical Research Labs 7.2. Hospitals 7.3. Clinical Diagnostics 7.4. Biopharmaceutical & Biotechnology Companies 7.5. Others 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia & Pacific 8.6. MEA 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. ImmunoChemistry Technologies, LLC 17.2. Thermo Fisher Scientific 17.3. Capricorn Products LLC 17.4. Roche Diagnostics International Ltd 17.5. BioMérieux 17.6. Beckman Coulter 17.7. Siemens AG 17.8. Tosoh Corporation 17.9. Bio-Rad 17.10. Abbott 18. Assumptions & Acronyms Used 19. Research Methodology
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Immunochemistry Products Market
