New York, Global Immuno-Oncology Assay Market was valued at USD 4.2 billion in 2021 and it is anticipated to grow further up to USD 14.1 billion by 2031, at a CAGR of 12.9% during the forecast period.
The global immune-oncology assay market report from Global Insight Services is the single authoritative source of intelligence on Immuno-Oncology Assay Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
One kind of immunoassay that is mostly used to diagnose cancer is the immuno-oncology assay. It is a process that profiles different analytes by simultaneously detecting and measuring them, including proteins, biomolecules, growth factors, cytokines, and chemokines. This method primarily targets and eliminates cancer cells using the body’s natural defensive mechanism.
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Market Trends and Drivers
As a multi-stage carcinogenesis process involving numerous molecular pathway events, cancer is a complex illness that arises. So, the diagnosis, prognosis, and treatment of cancer are all accompanied with a number of challenges. In this aspect, a single marker is not useful due to the complexity of cancer. Each cancer also differs from other cancer kinds in terms of its molecular profile. As a result, the use of immuno-oncology assays has proved crucial for comprehending cancer signatures and creating individualized treatments. Over the past few years, cancer has become more commonplace across the globe.
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Global Immuno-Oncology Assay Market Segmental Overview
The report analyses the global immune-oncology assay market based on product & services, technology, indication, application, and region.
Global Immuno-Oncology Assay Market by Product & Services
Based on the product & services, it is segmented into consumables, instruments, and software & services. In 2021, consumables segment accounted for the largest share of the immune-oncology assays market. The key element promoting the growth of this category is the demand of consumables in high quantities as compared to instruments.
Global Immuno-Oncology Assay Market by Technology
Based on the technology, it is segmented into PCR, Immunoassay, NGS, ISH, and Flow Cytometry. In 2021, PCR segment accounted for the largest share in the market. The development of this market is being driven by the expanding usage of PCR in immuno-oncology biomarker identification and discovery studies.
Global Immuno-Oncology Assay Market by Indication
Based on the indication, it is segmented into lung cancer, breast cancer, colorectal cancer, bladder cancer, melanoma, and other cancers. The lung cancer segment is likely to dominate the market during the forecast period. The need for immuno-oncology therapies is anticipated to rise as a result of rising cancer prevalence and the need for tailored medication. The global market for immuno-oncology is expected to develop as a result of the increasing number of cancer-related deaths and patient and healthcare professional demand for efficient and cutting-edge immuno-oncology therapies.
Global Immuno-Oncology Assay Market by Application
Based on the application, it is segmented into research applications, and clinical diagnostics. In 2021, research applications segment accounted for the largest share in the market. The expansion of this market is being driven by the increasing importance of biomarker-based drug development.
Geographical Analysis of the Global Immuno-Oncology Assay Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America is the largest regional market for the immuno-oncology assays market. The rising desire for customized medication, increased adoption of cutting-edge omics technologies for biomarker discovery, and expanding government support for the discovery and development of biomarkers are all factors contributing to the growth of the North American immuno-oncology assays market.
Major Players in the Global Immuno-Oncology Assay Market
The key players studied in the market are Thermo Fisher Scientific, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (US), Illumina, Inc. (US), NanoString Technologies, Inc. (US), Sartorius AG (Germany), HTG Molecular Diagnostics, Inc. (US), QIAGEN N.V. (Netherlands), Merck Millipore (US), PerkinElmer, Inc. (US), Abbott Laboratories, Inc. (US), Guardant Health, Inc. (US), and bioMérieux SA (France) among others.
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