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(Health-NewsWire.Net, December 03, 2021 ) 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 segments and subsegments' market size.
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%.
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Key Factors Driving Market Growth:
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.
“In 2020, consumables segment accounted for the largest share of the immuno-oncology assays market, by product & service”
Based on product & service, the cancer cell-based assays market is segmented into consumables, instruments, and software & services. The consumables segment accounted for the largest share of the cancer cell-based assays market in 2020. The requirement of consumables in large numbers as compared to instruments is the main factor driving the growth of this segment.
In 2020, PCR segment accounted for the largest share in the market, by technology
The cancer cell-based assays market is segmented into PCR, immunoassay, NGS, flow cytometry, and ISH based on technology. In 2020, the PCR segment accounted for the largest share. The growing use of PCR in immuno-oncology biomarker identification and discovery research is driving the growth of this segment.
In 2020, research applications segment accounted for the largest share in the market, by application
The immuno-oncology assays market is segmented into research applications and clinical diagnostics based on application. In 2020, the research applications segment accounted for the largest share of the cancer cell-based assays market. The rising prominence of biomarker-based drug development is driving the growth of this segment.
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Regional Growth Analysis:
North America is the largest regional market for immuno-oncology assays
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 cancer cell-based assays market 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.
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), bioMérieux SA (France), Myriad Genetics, Inc. (US), MESO SCALE DIAGNOSTICS, LLC. (US), Seegene Inc. (South Korea), Bio-Rad Laboratories, Inc. (US), Charles River Laboratories, Inc. (US), Olink (Sweden), ASURAGEN, INC. (US), Invivoscribe, Inc. (US), Creative Biolabs (US), ReachBio LLC (US), and NMI Technologietransfer GmbH (Germany).
Thermo Fisher Scientific, Inc. held the leading position in the cancer cell-based assays market in 2020. The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The company adopts organic growth strategies to increase its dominance in this market. For instance, in 2018, Thermo Fisher launched three assays, namely, Oncomine TCR Beta-SR Assay, Ion Torrent Oncomine Pan-Cancer Cell-Free Assay, and Torrent Oncomine Tumor Mutation Load Assay to address the challenges in this market.
MarketsandMarkets™
Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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