Immuno Oncology Assays Market to Reach $5.9 billion | Rising Incidence of Cancer | Industry Segments, Opportunities, Growth, Size, Key Players Analysis

Pune, India, 2020-Aug-18 — /EPR Network/ —

Immuno Oncology Assays Market by Product (Consumables, Software), Technology (Immunoassay, Flow Cytometry, PCR, Next Generation Sequencing), Indication (Lung Cancer, Colorectal Cancer), Application (Research, Clinical Diagnostics)

[108 Pages Report] The immuno oncology assays market is expected to reach USD 5.9 billion by 2024 from USD 2.9 billion in 2018, at a CAGR of 12.7%.

Market Dynamics: Growth Drivers

1. Rising Incidence of Cancer
2. Increasing Adoption of Targeted Therapy
3. Companion Diagnostics
4. Untapped Emerging Economies

Objective of Study:

1. To define, describe, and segment the global market by product & service, technology, application, end user and region.

2. To provide detailed information about factors influencing market growth (drivers, restraints, and opportunities).

3. To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the global industry

4. To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.

5. To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).

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In-Depth Market Segmentation Analysis:

Product:

Based on products, the immuno-oncology assays market is segmented into consumables and software. The consumables segment dominated the market with the largest share in 2018; this segment is also expected to register the highest CAGR during the forecast period. The large share of this segment can be attributed to the availability of a wide range of reagents and kits, increasing use of reagents in different oncology therapeutic treatments, increasing research on cancer immunotherapy Biomarkers and its applications in drug development, and easy accessibility to a wide range of reagents.

Application:

Based on application, the immuno-oncology assays market is segmented into research applications and clinical diagnostics. Research applications dominated the market with the largest share in 2018. It is also projected to be the fastest-growing segment during the forecast period. The rising prominence of biomarker-based drug development and clinical trials and the emergence of cancer immunotherapy are the key factors driving market growth.

Geographic Growth Analysis:

Detailed analysis of market in European countries such as the UK, Germany, France, Italy, Spain, and others.

Detailed analysis of industry in Asia Pacific countries such as China, Japan, India, and others.

Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The growing number of CROs in the region, increasing awareness about early detection of cancer, and the shift of manufacturers’ and suppliers’ focus from developed economies to emerging economies are some factors supporting the growth of this region.

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Key Players:

The major immuno-oncology assay vendors include Thermo Fischer Scientific (US), Roche Diagnostics (Switzerland), Agilent Technologies (US), and Illumina (US). These players have adopted various growth strategies such as acquisitions, product launches, agreements, partnerships, collaborations, and expansion to expand their presence in the immuno-oncology assays market.

Thermo Fisher Scientific holds the leading position in the immuno-oncology assays market. The company has expertise in immune-oncology research and flow cytometry. To maintain and further strengthen its position in the market, the company focuses on organic and inorganic strategies.