Immuno Oncology Assays Market Worth USD 5.9 billion - Increasing R&D Activities on Lung Immunology

Author : MarketTrends
Publish Date : 2021-04-01


Immuno Oncology Assays Market Worth USD 5.9 billion - Increasing R&D Activities on Lung Immunology

This report aims to provide detailed insights into the global immuno-oncology assays market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Key Factors Driving Market Growth:

Market growth is largely driven by factors such as the increasing adoption of targeted therapy over traditional therapy and the increasing demand for mAbs.

The immune-oncology assays market is expected to grow from USD 2.9 billion in 2018 to USD 5.9 billion by 2024, at a CAGR of 12.7% during the forecast period.

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The research applications segment accounted for the largest share of the market in 2018.

On the basis of application, the Immuno-Oncology Assays Market is segmented into research applications and clinical diagnostics. Research applications dominated the market with the largest share in 2018. It is also projected to be the fastest-growing segment during the forecast period. The rising prominence of biomarker-based drug development and clinical trials and the emergence of cancer immunotherapy are the key factors driving market growth.

Browse in-depth TOC on "Immuno-Oncology Assays Market"

63 – Tables
30 – Figures
108 – Pages

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The NGS segment is expected to grow at highest CAGR during the forecast period.

Based on technology, the Immuno-Oncology Market is segmented into PCR, immunoassay, NGS, flow cytometry, and other technologies. The NGS segment is projected to be the fastest-growing segment during the forecast period. The lower cost of sequencing, presence of advanced NGS technologies, rising government funding for sequencing projects, growing adoption of high-throughput sequencing technologies in emerging economies, and new product launches in immuno-oncology biomarker discovery are some of the key factors propelling the growth of the NGS market.

North America accounted for the largest share of the Immuno-Oncology Assays Industry in 2018.

North America accounted for the largest share of the Immuno-Oncology Market in 2018, followed by Europe. The Immuno-Oncology Assays Industry in North America is primarily driven by growing government support for the discovery and development of biomarkers, demand for personalized medicine, rising adoption of advanced omics technologies for biomarker discovery, and increasing research. The highly developed healthcare systems in the US and Canada, rising adoption of advanced technologies, and the presence of a large number of leading biopharma companies and national research laboratories are also expected to contribute to the growth of this market segment.

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The key players operating in the Immuno-Oncology Assays Market are Thermo Fischer Scientific (US), Roche Diagnostics (Switzerland), Agilent Technologies (US), and Illumina (US). A majority of the leading players in the market focus on both organic and inorganic growth strategies such as collaborations, partnerships, acquisitions, and agreements to maintain and enhance their market shares in the Immuno-Oncology Market.

The study involved four major activities in estimating the current market size for immuno-oncology assays. Exhaustive research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

On the basis of Product, the immuno-oncology assays market is segmented as follows:

  • Consumables
  • Software

On the basis of Technology, the immuno-oncology assays market is segmented as follows:

  • Immunoassay
  • PCR
  • NGS
  • Flow Cytometry
  • Other Technologies

On the basis of Indication, the immuno-oncology assays market is segmented as follows:

  • Lung Cancer
  • Colorectal Cancer
  • Melanoma
  • Bladder Cancer
  • Other Cancers

On the basis of application, the immuno-oncology assays market is segmented as follows:

  • Research Applications
  • Clinical Diagnostics

On the basis of region, the immuno-oncology assays market is segmented as follows:

  • North America
    • US
    • Canada
  • Europe
  • Asia Pacific
  • RoW

Recent Developments:

  • In 2018, Roche collaborated with SQZ Biotech to develop antigen presenting cells-based immune-oncology treatments.
  • In 2018, Illumina launched its TruSight Oncology 500 assay, which is used to identify known and emerging tumor biomarkers.
  • In 2018, Roche acquired Tusk Therapeutics to expand its oncology product portfolio.
  • In 2018, Agilent acquired ACEA Biosciences (US). This acquisition will help both the companies to focus on real-time, live-cell analyzes through their expertise in cellular function and metabolism measurements.
  • In 2016, Thermo Fisher collaborated with Invivoscribe Technologies to develop NGS-based in vitro diagnostic oncology tests.

Key questions addressed by the report:

  • Who are the major market players in the immuno-oncology assays market?
  • What are the regional growth trends and the largest revenue-generating regions for the immuno-oncology assays market?
  • What are the major drivers and challenges in the immuno-oncology assays market?
  • What are the major product segments in the immuno-oncology assays market?
  • What are the major application segments in the immuno-oncology assays market?
  • What are the major technology segments in the immuno-oncology assays market?
  • What are the major indications for immuno-oncology assays?

In the secondary research process, various sources such as Bloomberg BusinessWeek, Forbes, and Dun & Bradstreet were referred to, so as to identify and collect information useful for a technical, market-oriented, and commercial study of the immuno-oncology assays market. These secondary sources include annual reports, press releases & investor presentations of companies, World Health Organization, World Bank, Centers for Disease Control and Prevention, National Institutes of Health, Canadian Institute for Health Information, National Cancer Institute, European Association for Cancer Research, Australian Cancer Research Foundation, GLOBOCAN, and American Cancer Society. Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.



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