SAN FRANCISCO, October 30, 2018
SAN FRANCISCO, October 30, 2018 /PRNewswire/ --
The global immunohistochemistry market size is estimated to reach a value of USD 3.1 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to witness a revenue-based CAGR of 8.8% over the forecast period. High prevalence of cancer and increasing healthcare expenses driven by expanding aging population base are recognized as the most influential factors driving the market.
Cancer has high morbidity and mortality risk. Diagnosis of this disease majorly depends on the stage of the disease at admission. This has led to high demand of immunohistochemistry (IHC) products. IHC staining process is performed on cancer tissues to reveal the presence of HER2 receptors and/or hormone receptors on their surface. This information plays a vital role in planning cancer treatment. This factor is anticipated to drive demand in near future. In addition, rising popularity of targeted immunotherapy and biologic therapy for anticancer drug development and increasing Food and Drug Administration (FDA) approvals are expected to boost market growth in near future.
Significant rise in healthcare spending and shift in focus on value-based healthcare solutions can further impel growth of the immunohistochemistry market over the forecast period. According to the Centers of Medicare & Medicaid Services (CMS) projections, the National Health Expenditure is anticipated to rise at an average of 5.5% every year from 2017 to 2026. It is expected to reach around USD 5.7 trillion by 2026. Hospitals and care facilities are adopting a more specific and targeted therapy for better outcomes and to establish a move value-based healthcare delivery.
Browse full research report with TOC on "Immunohistochemistry (IHC) Market Size, Share & Trends Analysis Report By Application (Diagnostics, Drug Testing), By Product (Antibodies, Reagents, Equipment, Kits), By End Use, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/immunohistochemistry-ihc-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global immunohistochemistry market on the basis of product, application, end use, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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