Immuno Oncology Assays Market:
Growth opportunities in the immuno oncology assays market look promising over the next six years. This is mainly due to the continuous expansion by emerging countries and the rising demand for personalized medicines.
Immuno Oncology Assays Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The surging demand for customized medicines, along with the rising occurrence of cancer and the augmenting acquisition of targeted therapy, are some of the prominent factors stimulating the growth of the global immuno oncology assays market. Also, cancer is a complicated disease developed through a multi-stage carcinogenesis process, including several molecular pathway events. In accordance with the GLOBOCAN, the aggregate cancer cases are rising and are anticipated to extend to 30 million by the end of 2040, which was 18 million in 2018. Asia, Africa, and the U.S. are witnessing approximately 605 cancer cases. Thus, the growing incidence of cancer is fuelling the market growth.
Moreover, developing nations which include China, Brazil, India, and South Korea, are progressively emphasizing strengthening the spending on healthcare which is further promoting the market growth. According to the World Health Organisation, the health expenditure in 2018 totaled 5.3 % which was 5.1 % in 2017. However, the lower cost-benefit ratio and the requirement of huge capital investment are constraining the immuno oncology assays market size.
Product & Service Segment Drivers
Based on the product & service, the reagents and antibodies are predicted to expand at a higher CAGR during the forecast period. This is because of the rising prevalence of different types of cancer. The escalating number of cancer patients is primarily due to population growth and aging. Cancer-related lungs and female breasts are the most common categories in the world.
Regional Drivers
Based on the regional coverage, North America is projected to lead the market during the forecast period. This is mainly due to the extreme pervasiveness of cancer. The National Institutes of Health (NIH), in 2018, reported that there were 1,735,350 new cases of cancer in the U.S., with 609,640 deaths. On the other hand, the Asia-Pacific is expected to increase at a faster CAGR during the forecast period. This is due to the increasing assistance from government bodies and the high prevalence of cancer.
Immuno Oncology Assays Market’s leading Manufacturers:
- Perkinelmer, Inc.
- Nanostring Technologies, Inc.
- Abbott
- Merck KGaA
- Hoffmann-La Roche Ltd.
- HTG Molecular Diagnostics, Inc.
- Sartorius AG
- Agilent Technologies, Inc.
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
Immuno Oncology Assays Market Segmentation:
Segmentation by Products & Service
- Reagents and Antibodies
- Instruments
- Software
- Consumables and Accessories
Segmentation by Technology
- Polymerase Chain Reaction
- Immunoassay
- Next-Generation Sequencing
- In Situ Hybridization
- Flow Cytometry
Segmentation by Indication
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Bladder Cancer
- Melanoma
- Others
Segmentation by Application
- Research Applications
- Clinical Diagnostic
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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