Overview

Immuno Oncology Assays Market to value over US $ 7.1 billion and register a CAGR of over 12.2% during the forecast period from 2020 to 2027.

Increase in the incidence of cancer, advancements in technology particularly in molecular techniques, extensive research undertaken and development in cancer diagnostics, and ongoing clinical trials in cancer immunotherapy is expected to accelerate the immuno oncology assays market. According to the World Health Organization (WHO), cancer accounted for 8.8 million deaths worldwide. One out of six deaths is due to cancer. Hence, an increase in the prevalence of cancer and the rising need for personalized medicine is expected to drive the immune oncology assays market during the forecast period. With the introduction of highly sensitive molecular techniques such as next-generation sequencing (NGS) and digital PCR (dPCR), researchers and clinicians can analyze various circulating biomarkers. These innovative technologies provide an economical and minimally invasive way for diagnosis, prognosis, and therapy selection in patients throughout their treatment plan thus bolstering the market worldwide.

Based on technology, the Immuno-Oncology Assays Market is segmented into PCR, immunoassay, NGS, flow cytometry, and other technologies. The NGS segment is estimated to be the segment growing with the highest CAGR during the forecast period. The integration of economical costs and 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 segment.

On the basis of application, the Immuno-Oncology Assays Market is segmented into research applications and clinical diagnostics. Research applications dominated the market by holding the major market share. It is also forecasted 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.

Based on region, North America and Europe are expected to be major markets for the immuno oncology assays market. Sound health care infrastructure and funding from public and private sectors for research and development are projected to fuel the market in these regions. According to the American Cancer Society, an estimated 1,735,350 new cancer cases will be diagnosed and 609,640 cancer deaths will occur in the U.S. Asia Pacific is expected to account for a significant share of the market during the forecast period. Federal support and innovation of novel therapeutics in the field of cancer is anticipated to drive the market in the region.

Prominent Players operating in the global immuno-oncology assays industry are:

Thermo Fisher Scientific, Roche Diagnostics, Agilent Technologies, Illumina, Nanostring Technologies, Inc., Sartorius AG, Foundation Medicine, HTG Molecular Diagnostics, Inc., Qiagen and Merck.

Immuno Oncology Assays Market

Market Segmentation

By Product

Consumables
Software

By Technology

PCR
Immunoassay
Ngs
Flow Cytometry
Other Technologies

By Indication

Lung Cancer
Colorectal Cancer
Melanoma
Bladder Cancer
Other Cancers

By Application

Research Applications
Clinical Diagnostics

By Region

Europe
North America
APAC
Latin America
Rest of World

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

FutureWise Takeaways

Growth prospects
SWOT analysis
Key trends
Key data points affecting market growth

Objectives of the Study:

To provide an exhaustive analysis on the global immuno oncology assays market by product, by technology, by indication by application, and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies