Immuno Oncology Assays Market worth $281.90 Billion, Globally, by 2028 at 5.65% CAGR: Verified Market Research™

The growth of the market can be primarily credited to an upswing in the incidences of cancer, clinical trials in cancer immunotherapy, increasing use of targeted therapy, and the rising significance of companion diagnostics in drug development

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Verified Market Research

Jun 08, 2021, 09:15 ET

JERSEY CITY, N.J., June 8, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Immuno Oncology Assays Market" By Product (Consumables, Software and Services, and Instruments), By Technology (PCR, Flow Cytometry, Immunoassay, Next-Generation Sequencing and In Situ Hybridization), By Indication (Lung Cancer, Breast Cancer, Colorectal Cancer, Bladder Cancer, Melanoma and Other Cancers), By Application (Research Applications and Clinical Diagnostics), and By Geography. According to Verified Market Research, the Global Immuno Oncology Assays Market was valued at USD 181.68 Billion in 2020 and is projected to reach USD 281.90 Billion by 2028, growing at a CAGR of 5.65% from 2021 to 2028.

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202 - Pages
126 – Tables
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Global Immuno Oncology Assays Market Overview

An important driver for growth of the Immuno Oncology Assays market is the rise in the incidences of Cancer. According to the data released by IARC on 14th December, the updated Globocan 2020, with new estimates on the global cancer burden, indicating that it has risen to 19.3 million cases and 10 million cancer deaths in 2020. These new estimates suggest that more than 50 million people are living within five years of a past cancer diagnosis. Cancer is a type of disease which proliferates through multiple molecular processes and has multiple stages. Therefore, it is difficult to find out a cure for cancer that works for all kinds. Immuno Oncology Assays, are therefore important to understand the interactions of the immune system and these cancer cells to develop various cancer therapies.

Technological advancements in Immuno Oncology Assays have also contributed to the growth of the market. The interaction of the immune system doesn't happen with only one kind of cell, it interacts with several different kinds of cells, and in a very complicated manner. Therefore, single-cell technologies have emerged as powerful tools to get useful information about the Tumor Microenvironment (TME). Although tremendous efforts have been devoted to T-cell characterizations, other immune cells of the innate and adaptive immune systems, including DCs, macrophages, NK cells, and B cells, have also been shown to contribute to tumor progression and immunotherapy responses.

Key Developments in Immuno Oncology Assays Market

In July 2018, Thermo Fisher Scientific today announced the launch of its Oncomine TCR Beta-SR Assay, a new next-generation sequencing (NGS) solution for immuno-oncology research designed to characterize T-cell clonality in the tumor microenvironment – a key approach to identify potential biomarkers associated with immune response.
Thermo Fisher Scientific has formed a strategic partnership with PharmAbcine in June 2020. The partnership was aimed to develop and manufacture PMC-309, a next-generation immune checkpoint blockade to treat cancer.

The major players in the market are Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Illumina, Inc., PerkinElmer, Inc., Crown Bioscience Inc., InSphero Inc., Merck & Company, Inc., F.Hoffmann-La Roche Ltd., HTG Molecular Diagnostics, Inc., among others.

Verified Market Research has segmented the Global Immuno Oncology Assays Market On the basis of Product, Application, Indication, Technology and Geography.

Immuno Oncology Assays Market by Product

Consumables
Software and Services
Instrument

Immuno Oncology Assays Market by Application

Research Applications
Clinical Diagnostic

Immuno Oncology Assays Market by Indication

Lung Cancer
Breast Cancer
Colorectal Cancer
Bladder Cancer
Melanoma
Other Cancers

Immuno Oncology Assays Market by Technology

Polymerase Chain Reaction (PCR)
Flow Cytometry
Immunoassay
Next-Generation Sequencing (NGS)
In Situ Hybridization (IS

Immuno Oncology Assays Market by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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