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The global immuno-oncology assays market is projected to reach USD 7.9 billion by 2026 from USD 4.4billion in 2021, at a CAGR of 12.5% during the forecast period. Market growth is driven by factors such as the growing significance of companion diagnostics in drug development and rising incidence of cancer and growing adoption of targeted therapies. On the other hand,the requirement of high capital investments and low cost-benefit ratio and the unfavorable regulatory and reimbursement scenario are the major factors hampering the growth of this market.
“The consumables segment accounted for the highest growth rate in theimmuno-oncology assaysmarket, by product& service, during the forecast period”
The immuno-oncology assays market is segmented into consumables, instruments, and software & services based on product & service. In 2020, the consumables segment accounted for the highest growth rate in the immuno-oncology assays market. The requirement of consumables in large numbers as compared to instruments is the major factor contributing to the growth of this segment.
“Research applications segment accounted for the highest CAGR”
Based on application, the immuno-oncology assays market is segmented into research applications and clinical diagnostics. In 2020, the research applications segmentaccounted for the highest growth rate. This can be attributed to the rising prominence of biomarker-based drug development.
“Asia Pacific: The fastest-growing regionimmuno-oncology assays market”
The global immuno-oncology assays market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Growth in this region is expected to be centeredon China and Japan. Factors such as the growing number of CROs in the region and the increasing awareness about the early detection of cancer are driving the growth of the immuno-oncology assays market in this region.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%,and Tier 3 -30%
- By Designation: C-level - 27%, D-level - 18%, and Others - 55%
- By Region: North America -51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6%, and the Middle East & Africa – 4%
This report provides a detailed picture of the global immuno-oncology assays market. It aims at estimating the size and future growth potential of the market across different segments, such as product& service, technology, indication, application, and region. The report also includes an in-depth competitive analysis ofthe key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall immuno-oncology assays market and its subsegments.It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.