Immuno Oncology Assays Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3697
Immuno Oncology Assays Market size is expected to grow significantly from 2019 to 2025.
Immuno oncology assays industry is anticipated to grow substantially during the forecast timeline. The business growth is attributable to technological advancements in molecular biological techniques, next-generation sequencing (NGS), and polymerase chain reaction (PCR) that assists in transforming the ability to analyze cancer specimens. As these advances are incorporated in the routine diagnostic testing it creates immense opportunities for immuno oncology assays industry growth. Moreover, technological advances are expected to alter the method of monitoring, diagnosis as well as treatment of cancer patients, thus, should propel business growth over the coming years.
Rising number of cancer cases surging the demand for effective treatment will further boost industry growth during the forecast timeline. Additionally, ongoing research for novel methods of cancer treatment involving definite targets of cancer is expected to foster immuno oncology assays market growth. However, unfavorable reimbursement and regulatory scenario coupled with high capital investment required might hinder immuno oncology assays industry growth.
Consumables segment is anticipated to witness significant growth during the forecast timeframe due to wide-ranging availability of reagents and kits, growing usage of reagents in various oncology therapeutic treatment. Moreover, surging number of research projects on cancer immunotherapy further boosts segmental growth.
Lung cancer segment will grow substantially over the coming years. The growth is attributable to factors such as increasing incidence of lung cancer and major business players focusing their R&D on lung cancer immuno oncology research.
Research segment accounted for considerable revenue share in 2018 and is projected to grow with a robust CAGR over the analysis period. The growth is primarily attributable to growing demand for effective cancer treatment coupled with increasing focus on biomarker based drug development.
Asia Pacific immuno oncology assays industry will grow significantly during the forecast timeframe owing to growing awareness concerning early disease diagnosis coupled with surging number of CROs in the region. Also, industry players are focusing on emerging economies to capture more market share, thereby, boosting regional growth. Moreover, increasing healthcare expenditure coupled with improvement in healthcare infrastructure will foster business growth.
Some of the prominent industry players operational in immuno oncology assays industry includes Agilent Technologies, F. Hoffmann-La Roche, HTG Molecular Diagnostics, Illumina, Merck, NanoString Technologies, PerkinElmer, Qiagen, Sartorius, and Thermo Fisher Scientific. Major business players implement numerous strategies in order to gain more market share. These firms emphasize on strategic initiatives such as collaboration, mergers, and acquisition. In October 2018, SQZ Biotechnologies company expanded its collaboration with Roche in cellular therapy. The extended partnership is aimed at developing products based on antigen presenting cells (APCs) for oncology treatment.
Immuno Oncology Assays Market By Product, 2014-2025 (USD Million)
Immuno Oncology Assays Market By Technology, 2014-2025 (USD Million)
- Flow Cytometry
Immuno Oncology Assays Market By Indication, 2014-2025 (USD Million)
- Colorectal Cancer
- Lung Cancer
- Bladder Cancer
Immuno Oncology Assays Market By Application, 2014-2025 (USD Million)
- Clinical Diagnostics
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Agilent Technologies, Inc.
- F. Hoffmann-La Roche Ltd
- Foundation Medicine, Inc.
- HTG Molecular Diagnostics, Inc.
- Illumina, Inc.
- Merck KGaA
- NanoString Technologies, Inc.
- PerkinElmer Inc.
- Sartorius AG
- Thermo Fisher Scientific Inc.
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