Immuno-Oncology Assays Market Has Evolved Significantly Owing to Growing Significance of Companion Diagnostics

What This Report Will Provide?

This study involved four major activities in estimating the current size of the immuno-oncology assays market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.

Expected Revenue Growth:

[214 Pages Report] 
The global immuno-oncology assays market is projected to reach USD 7.9 billion by 2026 from USD 4.4 billion in 2021, at a CAGR of 12.5%.Major Growth Boosters:

Market growth is driven by the increased demand for personalized medicine, rising incidence of cancer and the growing adoption of targeted therapy, and the growing significance of companion diagnostics in drug development.

Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global immuno-oncology assays market?
2. What are the drivers, restraints, opportunities, and challenges in the immuno-oncology assays Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of immuno-oncology assays in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

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Recent Developments:

In July 2020, HTG Molecular Diagnostics, Inc. (US) launched its HTG EdgeSeq Pan B-Cell Lymphoma Panel.

In August 2019, Agilent Technologies, Inc. (US), along with The National University of Singapore (NUS) and the National University Hospital (NUH), established Singapore’s first integrated translational R&D hub that leverages biochemical innovation and research data analytics to develop new methods of translating clinical research into clinical diagnostics.

In May 2018, Invivoscribe, Inc. (US) partnered with the American University of Beirut Medical Center (Lebanon) to establish a new center of excellence facility in the Middle East. This facility provides testing for all hematologic diseases, including leukemia and lymphoma.

Regional Growth Analysis:

The global immuno-oncology assays market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the global market. The North American immuno-oncology assays industry’s growth can be attributed to the increasing demand for personalized medicine, rising adoption of advanced omics technologies for biomarker discovery, and growing government support for the discovery and development of biomarkers.

Emerging economies such as China, India, South Korea, Brazil, and Mexico offer significant growth opportunities to major market players. This can be attributed to their low regulatory barriers, improvements in healthcare infrastructure, growing patient population, and rising healthcare expenditure. The regulatory policies in the Asia Pacific are more adaptive and business-friendly than those in developed countries. This, along with the increasing competition in mature markets, has drawn key players in the immuno-oncology assays market to focus on emerging countries.

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Key Players:

The major players operating in this market are Thermo Fisher Scientific, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (US), Illumina, Inc. (US), NanoString Technologies, Inc. (US), Sartorius AG (Germany), HTG Molecular Diagnostics, Inc. (US), QIAGEN N.V. (Netherlands), Merck Millipore (US), PerkinElmer, Inc. (US), Abbott Laboratories, Inc. (US), Guardant Health, Inc. (US).