Immuno-oncology Assay Market : Reigning Supreme in Industry Dynamics | CAGR 10.6%

Allied Market Research published a report, titled, “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.”

According to the report, the global immuno-oncology assay industry was estimated at $2.76 billion in 2018, and is expected to hit $6.17 billion by 2026, registering a CAGR of 10.6% from 2019 to 2026.

 

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The global immune-oncology assay market is experiencing growth due to the rise in biotechnology research and development activities, increased governmental funding, and a growing adoption of multiplex immuno-oncology assays to streamline operational costs. The surge in the use of personalized medicines is also contributing to market expansion. However, the lack of skilled healthcare professionals poses a limiting factor to some extent. Nonetheless, the development in emerging economies is anticipated to create various opportunities in the near future.

 

Key Findings of the Study:

• Depending on product, consumables was the leading segment of the global immune-oncology assay market in 2018, and is projected to grow at a CAGR of 10.2% during the forecast period.
• North America accounted for the share of 42% of the market in 2018, and is projected to grow at a CAGR of 10.1%.
• By technology, the PCR segment accounted for the largest market share of 60% in 2018.
• As per application, the research segment held the highest market share in 2018, and is expected to lead the market during the analysis period.

 

North America to dominate in terms of revenue-

In 2018, North America dominated the global immuno-oncology assay market, capturing over two-fifths of the market share. The prevalence of cancer in this region has led to an increased demand for immuno-oncology assays, driving the development of novel personalized drugs for cancer treatment. Meanwhile, Asia-Pacific is expected to exhibit the fastest Compound Annual Growth Rate (CAGR) of 12.9% from 2019 to 2026. This growth is attributed to the rising number of cancer patients in the region and a significant uptick in research and development activities in the pharmaceutical sector for effective cancer treatment.

Key Benefits for Stakeholders:

• The study provides an in-depth analysis of the global immuno-oncology assay market share 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 is provided.
• A comprehensive quantitative immuno-oncology assay market analysis is provided from 2018 to 2026 to assist stakeholders to capitalize on the prevailing opportunities.
• An extensive analysis of the key segments of the industry helps to understand the global immuno-oncology assay market trends.
• Key players and their strategies are provided to understand the competitive outlook of the industry.

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If opting for the Global version of Immuno-oncology assay Market ; then below country analysis would be included:

– North America (USA, Canada and Mexico)

– Europe (Germany, France, the United Kingdom, Netherlands, Italy, Nordic Nations, Spain, Switzerland and Rest of Europe)

– Asia-Pacific (China, Japan, Australia, New Zealand, South Korea, India, Southeast Asia and Rest of APAC)

– South America (Brazil, Argentina, Chile, Colombia, Rest of countries etc.)

– Middle East and Africa (Saudi Arabia, United Arab Emirates, Israel, Egypt, Turkey, Nigeria, South Africa, Rest of MEA) .

Frontrunners in the industry-

• Thermo Fisher Scientific Inc.
• Seegene Inc.
• Randox Laboratories Ltd.
• Meso Scale Diagnostics LLC
• Luminex Corporation
• QIAGEN N.V.
• Becton
• Bio-Rad Laboratories Inc.
• Dickinson and Company
• Illumina Inc.
• Abcam PLC

 

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