Immuno-oncology Assay Market by Product (Consumables and Software), by Technology (Immunoassays, Polymerase Chain Reaction (PCR), Next-Generation Sequencing (NGS), and Flow Cytometry), Application (Research & Development and Clinical Diagnostics), and Indication (Colorectal Cancer, Lung Cancer, Melanoma, Bladder Cancer, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
The global immuno-oncology assay market accounted for $2,769.50 million in 2018, and is expected to reach $ 6,179.20 million by 2026, growing at a CAGR of 10.6% from 2019 to 2026. Immuno-oncology assays are widely being used for the diagnosis of different types of cancer. In addition, this assay provides a gain in assay dynamic range,and is used to amplify multiple targets in a polymerase chain reaction (PCR) and collect more information from minute quantities of proteins or other analytes in lesser time. Immuno-oncology assays find its application in pathogen identification, mutation analysis, RNA detection, gene detection analysis, linkage analysis, and others.
The global immuno-oncology assay market is witnessing significant growth, owing to increase in R&D activities in pharmaceuticals for the treatment of cancer. These assays are used in clinical trials, as they decrease the cost of research & manual labor and increase the efficiency of experiments and therapies. Moreover, they allow to understand a compound’s response precisely intended to mimic the tumor microenvironment. Optimized cell-based assays deliver crucial information to confirm the efficiency of a drug or a compound in simple and progressively complex co-culture assays. In addition, they offer easier & faster analysis of cancer, and are automated as compared to conventional methods, thus fueling the market growth. However, high capital investment and dearth of skilled labors are the major factors that hinder the market growth. On the contrary, technological development of automated immuno-oncology assay is anticipated to create lucrative opportunities for market expansion in the near future.
The global immuno-oncology assay market is segmented into product, technology, indication, application, and region. On the basis of product, the market is bifurcated into consumables and software. By technology, it is classified into immunoassay, polymerase chain reaction (PCR), next-generation sequencing (NGS), flow cytometry, and others. As per indication, it is divided into colorectal cancer, lung cancer, melanoma, bladder cancer, and others. The applications covered in the study include clinical diagnostics and research. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS - The study provides an in-depth analysis of the global immune-oncology assaymarketalong with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided.
- A comprehensive quantitative analysis of the industry is provided from 2018 to 2025to assist stakeholders to capitalize on the prevailing market opportunities.
- An extensive analysis of the key segments of the industry helps to understand the global trendsin the immune-oncology assaymarket.
- Key players andtheir strategies areprovided to understand the competitive outlook of theindustry.
By Indication • Colorectal Cancer
• Lung Cancer
• Bladder Cancer
By Application • Clinical Diagnostics
By Region o North America
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Saudi Arabia
• South Africa
• Rest of LAMEA
KEY MARKET PLAYERS • Luminex Corporation
• Thermo Fisher Scientific Inc.
• Illumina Inc.
• Bio-Rad Laboratories Inc.
• QIAGEN N.V.
• Becton, Dickinson and Company
• Abcam PLC
• Seegene Inc.
• Randox Laboratories Ltd.
The other players in the value chain include (profiles not included in the report) • Merck KGaA
• Agilent Technologies
• Sysmex Corporation
• Siemens Healthcare GmbH
• F. Hoffmann-La Roche Ltd
• Johnson & Johnson
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