The global immune-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.
Download Free Sample of Report – https://www.globalinsightservices.com/request-sample/GIS10299
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. This assay is used for in vitro research to investigate the complex tumor microenvironment, the dynamic interactions between cancer cells and immune cells, and the perception of immunoreactivity in a variety of cell-based assays to determine the mode of action.
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. In 2018, there were 9.6 million fatalities due to cancer, which has overtaken all other causes of mortality in the world. GLOBOCAN predicts that by 2040, there would be over 30 million new instances of cancer, up from 18 million in 2018. Africa, Asia, Central and South America account for more than 60% of all new cancer cases, and these regions also account for 70% of all cancer-related fatalities worldwide. As a result, there is a need for considerable research to be done for cancer detection and therapy, and immuno-oncology assays play a significant role in this study.
Report Overview- https://www.globalinsightservices.com/reports/immuno-oncology-assays-market/
Market Restraints and Challenges
The discovery, development, and validation of biomarkers demand large capital expenditures. Additionally, diagnostic manufacturers have major financial difficulties as a result of the high drug attrition in clinical trials (with about 30% of medications failing in Phase III). In order for manufacturers to receive regulatory permission for in vitro diagnostics (IVD), Phase III clinical trials that rely on reliable biomarker tests must be successful. The cost of conducting clinical trials and meeting onerous regulatory criteria severely limits innovation and makes it difficult for small businesses to develop biomarkers. As a result, in addition to the high capital expenditures, the low cost-benefit ratio is impeding the expansion of the market for immuno-oncology assays for biomarker identification.
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.
Get a customized scope to match your need, ask an expert – https://www.globalinsightservices.com/request-customization/GIS10299
COVID-19 Impact
One of the patient populations most severely impacted by this pandemic is cancer patients. The number of patients undergoing cancer screening, diagnosis, and treatment has significantly increased as a result of COVID-19. Many hospitals and departments, including oncology clinics, were re-profiled for treating COVID-19 patients as a result of the increasing demand brought on by the rising rate of COVID-19 patients being admitted to hospitals. As a result, several diagnostic and therapeutic treatments were shelved or delayed globally, including up to 2.3 million cancer surgeries, according one study. It is anticipated that higher cancer mortality rates will result from cancer patients’ delayed detection and treatment due to lockdown-related constraints.
Global Immuno-Oncology Assay Market
By Product & Services
- Consumables
- Instruments
- Software & Services
By Technology
- PCR
- Immunoassay
- NGS
- ISH
- Flow Cytometry
By Indication
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Bladder Cancer
- Melanoma
- Other
By Application
- Research Application
- Clinical Diagnostics
Buy Now – https://www.globalinsightservices.com/checkout/single_user/GIS10299
With Global Insight Services, you receive:
- 10-year forecast to help you make strategic decisions
- In-depth segmentation which can be customized as per your requirements
- Free consultation with lead analyst of the report
- Excel data pack included with all report purchases
- Robust and transparent research methodology
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: [email protected]
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/