Asia Pacific Immunohistochemistry Market to Grow at a CAGR of 7.8% to reach US$ 818.00 million from 2021 to 2028

Asia Pacific Immunohistochemistry Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Diagnostics and Drug Testing), Product (Antibodies, Equipment, Reagents, and Kits), and End User (Hospitals and Diagnostic Laboratories, Research Institutes, and Others)

  • Report Code : TIPRE00025746
  • Category : Biotechnology
  • Status : Published
  • No. of Pages : 150
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The APAC immunohistochemistry market is expected to grow from US$ 483.76 million in 2021 to US$ 818.00 million by 2028; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028.

China, Japan, India, Australia, and South Korea are major economies in APAC. Burgeoning opportunities in emerging countries is expected to fuel the market growth. 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 APAC market during the forecast period.

Countries in APAC, especially India, are highly affected due to the COVID-19 outbreak. The supply chain disturbances and the tremendous demand for efficient treatments for the therapy of COVID-19 have put the healthcare research industry in a crucial situation in APAC. Prohibitive measures have been taken to control the spread of the novel coronavirus. The COVID-19 pandemic has adversely affected economies in the region. The socioeconomics was severely affected, rising in negative inflation, GDPs, and a regional unemployment surge. Countries, such as China, Japan, Singapore, and South Korea, are seeing an increased interest in clinical trials. High costs in western countries are also contributing to the flow of medical affairs outsourcing to APAC. To expand sales to the Asian market, pharmaceutical companies are becoming aware of new and changing regulatory environments for drugs, devices, and in-vitro diagnostics. New or improved regulations are implemented frequently in Asia, including changes in GMP standards, drug price controls, and medical device regulatory systems. Third-party guidance and advice are required as a part of any acquisition or any improvement of current standards. Increasingly, third-party outsourcing service providers are playing a significant role in supporting the associated market in APAC. However, the market has stabilized compared to the initial phases of the pandemic owing to the control procedures, awareness among people, vaccination availability, and supportive government policies of the business in the related market. 

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC immunohistochemistry market. The APAC immunohistochemistry market is expected to grow at a good CAGR during the forecast period. 
APAC immunohistochemistry market

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APAC Immunohistochemistry Market Segmentation         

APAC Immunohistochemistry Market – By Product

  • Equipment
    • Slide Staining Systems
    • Tissue Microarray Systems  
    • Tissue Processing Systems
    • Slide Scanners
    • Other Equipment
  • Antibodies
    • Primary Antibodies
    • Secondary Antibodies
  • Reagents
    • Histological Stains
    • Blocking and Fixation Reagents
    • Chromogenic Substrates
    • Fixation Reagents
    • Stabilizers
    • Organic Solvents
    • Proteolytic Enzymes
    • Diluents
  • Kits

APAC Immunohistochemistry Market – By Application

  • Diagnostics
    • Cancer
    • Infectious Diseases
    • Autoimmune Diseases
    • Diabetes Mellitus
    • Nephrological Diseases
    • Others
  • Drug Testing

APAC Immunohistochemistry Market – By End User

  • Hospitals and Diagnostic Laboratories
  • Research Institutes
  • Others

APAC Immunohistochemistry Market, by Country

  • China  
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC

APAC Immunohistochemistry Market - Companies Mentioned

  • 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.
  • THERMO FISHER SCIENTIFIC INC.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

  1. Abcam plc
  2. Agilent Technologies, Inc.
  3. Bio SB
  4. BIO-RAD LABORATORIES INC.
  5. Cell Signaling Technology, Inc.
  6. Danaher
  7. F. HOFFMANN-LA ROCHE LTD.
  8. MERCK KGaA
  9. PerkinElmer Inc.
  10. THERMO FISHER SCIENTIFIC INC.    

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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