Global immuno-oncology assays market was valued at US$ 3172.40 million in 2019 and is expected to reach US$ 9517.40 million by 2028, growing at a CAGR of 13.1% over the forecast period.
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Globally the prevalence of new technologies in order to treat cancer has increased, immune oncology techniques for the treatment of cancer is getting traction in the global market. Immuno-oncology technique is the one which use the body's natural defenses to target and remove cancer cells in the search for accurate cancer treatment. Over the past decade, because of its precision, adaptability and longevity, immuno-oncology has been an exciting new approach to cancer care. Tumor diseases in western developed countries are one of the most common causes of death. Immune oncology approaches are helping to push new levels of care for curative cancer and may even contribute to the eradication of most cancer forms, but precise and responsive bioanalytical methods and personalized oncology assays are needed to improve these tools.
As the scope of available drugs has extended beyond chemotherapy to a host of new molecularly targeted treatments, the therapeutic landscape for cancer is currently undergoing an exciting transition. With the population's rising average life span, 14 million new cancer cases worldwide are diagnosed each year. The following examples are intended to illustrate the tremendous strength of immune oncology treatment choices in dealing with these cases. Significant rises in the incidence of cancer worldwide and increases in R&D activities for the advancement of cancer therapies are the major factors driving the growth of this market. However, during the forecast era, a shortage of skilled labor and high capital investment are expected to limit the growth of the immune oncology assay market. On the contrary, increased emphasis on the production of automated immuno-oncology assays is expected in the near future to generate lucrative opportunities.
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Due to the rise in R&D activities in cancer treatment the immuno-oncology assay market is seeing significant growth. In clinical trials, these assays are used to minimize the expense of testing and manual labor and improve the productivity of studies and therapies. Optimized cell-based assays provide critical information to confirm the efficiency of a drug or a compound. Furthermore, they deliver simpler & faster cancer analysis and are automated compared to traditional methods, thereby accelerating the growth of the immune oncology assay industry. However, the key factors hindering demand growth are high capital spending and a dearth of skilled labor. In comparison, the technological advancement of the automated immuno-oncology assay is expected to generate profitable market growth opportunities during the forecast period. Furthermore, the rise in government programs for biotech research is expected to generate different opportunities in emerging economies.
The detailed research study provides qualitative and quantitative analysis of immuno-oncology assays market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- Based on component the immuno-oncology assays market is segmented into consumables and software platform. The consumable segment accounts for the major share of the market over the forecast period. The growth of this segment can be attributed to the availability of a wide range of reagents and kits, increased use of reagents in various clinical oncology therapies, increased research into cancer immunotherapy biomarkers and their drug development applications, and convenient access to a wide range of reagents.
- During the forecast period, Asia Pacific is expected to rise at the highest CAGR. The rising number of CROs, increasing awareness of early cancer detection, and shifting attention of manufacturers and suppliers from developed economies to emerging economies are some of the factors supporting the region's growth.
- The major players operating in the market include Agilent, BioAgilytix, Charles River Laboratories, Creative Biolabs, Eurofins DiscoverX Products, Explicyte Immuno-Oncology, Illumina, Inc., Svar Life Science, Thermo Fisher Scientific and other market participants.
Immuno-oncology Assays Market:
- By Component
- Consumables
- Cytotoxicity Assays
- MOA-Reflective Functional Assays for Co-Stimulatory and Inhibitory Checkpoint Receptors
- Functional Assays
- Custom
- Others
- Software Platform
- Immunoassay
- PCR
- NGS
- Flow Cytometry
- Others
- Consumables
- By Technology
- 2D
- 3D
- By Cell Types
- Natural Killer Cells
- Macrophages
- Dendritic Cells
- Neutrophils
- Fibroblasts
- Others
- By Application
- Screen and Develop Antibodies
- Small Molecules
- Cellular Therapies (Chimeric Antigen Receptor T Cells (CAR-T)
- ADCC
- ADCP
- T Cell Redirection
- Adoptive T Cell Therapy
- Others
- By Targets
- PD-1
- SIRPα
- CTLA4
- OX40
- ICOS
- Others
- By Indication
- Lung Cancer
- Colorectal Cancer
- Melanoma
- Bladder Cancer
- Other Cancers
- By Usage
- Research Solutions
- Tumor Microenvironment and Immune Composition
- Tumor Mutational Burden and Neoantigens
- Cancer Microbiome Research
- Immunotherapy Research Publications
- Others
- Others
- Research Solutions
- By Geography
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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