Immuno Oncology Assays Market by Product (Consumables, Software), Technology (Immunoassay, Flow Cytometry, PCR, Next Generation Sequencing), Indication (Lung Cancer, Colorectal Cancer), Application (Research, Clinical Diagnostics) - Global Forecast to 2024
“The increasing adoption of targeted therapy over traditional therapy is expected to drive the overall growth of the immuno-oncology assays market.”
The immuno-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. The immuno-oncology assays market is driven primarily by factors such as the increasing adoption of targeted therapy over traditional therapy and the increasing demand for mAbs. However, the high cost of immunotherapy treatment and the high attrition rate in the product development cycle are the major factors that are expected to restrain the growth of this market during the forecast period.
“The lung cancer segment is expected to grow at the highest CAGR during the forecast period.”
Based on indication, the immuno-oncology assays market is segmented into lung cancer, colorectal cancer, melanoma, bladder cancer, and other cancers. The lung cancer segment is expected to be the fastest-growing segment during the forecast period, as major players are focusing on immuno-oncology research for lung cancer owing to its increasing incidence.
“Asia Pacific projected to grow at the highest CAGR during the forecast period.”
The Asia Pacific is projected to record the highest growth rate during the forecast period. Factors such as growing number of CROs in the region, increasing awareness about early detection of cancer, and the shift of manufacturers’ and suppliers’ focus from developed economies to emerging economies, such as India and China are driving the growth of this regional segment.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the immuno-oncology assays market.
By Company Type: Tier 1: 18%, Tier 2: 39%, and Tier 3: 43%
By Designation: C-level Executives: 25%, Directors: 20%, and Others: 55%
By Region: North America: 40%, Europe: 27%, APAC: 20%, and RoW: 13%
The immuno-oncology assays market comprises major providers such as Thermo Fischer Scientific (US), Roche Diagnostics (Switzerland), Agilent Technologies (US), and Illumina (US). The study includes an in-depth competitive analysis of these key players in the immuno-oncology assays market, along with their company profiles, recent developments, and key market strategies.
The market study covers the immuno-oncology assays market across various segments. It aims at estimating the market size and the growth potential of this market across different segments, on the basis of product, technology, application, indication, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market and provide information on the closest approximations of the revenue numbers for the overall immuno-oncology assays market and its subsegments. This report will help the stakeholders to understand the competitive landscape, to gain more insights to better position their businesses, and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and provide information on key market drivers, restraints, and opportunities.
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