by The global Immuno-Oncology Market is estimated to be valued at US$ 4556.83 Mn or Bn in 2023 and is expected to exhibit a CAGR of 10 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Immuno-Oncology assays are used to detect and measure biomarkers, proteins, and genetic material in cancer cells to understand tumor growth and select appropriate treatments. These assays help in early detection, monitoring disease progression, and selecting targeted therapies based on genetic testing.
Market key trends:
The rising prevalence of cancer worldwide is one of the major factors driving the growth of the immuno-oncology assays market. According to the World Cancer Research Fund International, in 2020, an estimated 19.3 million new cancer cases emerged globally. Demand for cost-effective and accurate cancer diagnostic tools is expected to surge during the forecast period.
Segment Analysis
The global immuno-oncology assays market is segmented by assay type, indication, technology, end-user, and region. Based on assay type, the market is divided into ELISA, flow cytometry, multiplex immunoassays, and others. The flow cytometry segment is expected to dominate the market as it allows for the identification and quantification of cell populations based on multiple parameters simultaneously.
Key Takeaways
Global Immuno-Oncology Assays Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing prevalence of cancer worldwide.
Regional analysis
North America is expected to dominate the global immuno-oncology assays market during the forecast period. This is attributed to the presence of established healthcare infrastructure, rising cancer incidence, and increasing adoption of immuno-oncology therapies in the region.
Key players
Key players operating in the immuno-oncology assays market are Charles River, Roche, Illuma, and Agilent Technologies, Inc., among others. Charles River is a prominent player in the market with strong expertise in outsourced drug discovery services and assays for biological characterization. Roche is a leading healthcare company focusing on personalized healthcare with strong presence across various segments including oncology clinical testing.
The global immuno-oncology assays market size for 2023 is expected to cross US$ 4556.83 Mn. Growing public-private investments to support research and development of I/O combination therapies to treat different cancer types will further aid market growth over the forecast period from 2023 to 2030.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
