Fueling Exponential Discoveries Into Cancer Immunity Is Anticipated To Open Up The New Avenue For Immuno-Oncology Assays Market

Immuno-Oncology Assays Market

The Immuno-Oncology Assays Market is estimated to be valued at US$ 4556.83 Mn or Bn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Immuno-oncology assays are tests that are used to detect various biomarkers associated with cancer immune mechanisms. These assays are primarily used in cancer research to understand tumor microenvironment, identify potential drug targets, and guide immunotherapy. The major types of immuno-oncology assays include ELISA, flow cytometry, PCR, and next-generation sequencing. These assays help evaluate immune responses by quantifying immune cell populations, biomarkers, mutations, and expression profiles.

Market Dynamics:
Growing adoption of immunotherapies for cancer treatment due to their high efficacy and minimal side effects is a major driver for the immuno-oncology assays market. Immunotherapies like immune checkpoint inhibitors have shown promising results in clinical trials and their commercial success is fueling the demand for related companion diagnostics assays. Furthermore, increasing R&D investments by pharmaceutical companies to develop novel cancer immunotherapies is also driving the need for robust biomarker analysis using immuno-oncology assays.

The rise in cancer incidence worldwide coupled with increasing focus on precision medicine is augmenting the market growth. Immuno-oncology assays play a crucial role in selecting suitable patient population for immunotherapies based on their tumor profiles. This is expected to boost the adoption of these assays across hospital laboratories and research institutes.

Segment Analysis
The global Immuno-Oncology Assays market is segmented on the basis of type, technology, indication, end user and region. Based on type, the market is segmented into immunoassay, flow cytometry, PCR and Next generation sequencing. The immunoassay segment dominates the market as it is cost effective and reliable analytical technique for immunology and oncology researches.

PEST Analysis
Political: The governmental policies and regulations supporting funding for cancer research as well as development of newer technologies will boost the market growth.
Economic: The rising disposable income, increasing healthcare spending and growing awareness regarding cancer care are the key drivers escalating the market revenue.
Social: Growing geriatric population prone to various types of cancers and increasing incidence of cancer cases worldwide are propelling the demand for advanced diagnostic and treatment tools.
Technological: Continuous innovations in immunology and precision medicine, adoption of combination therapies and companion diagnostics are expected to transform the market.

Key Takeaways
Global Immuno-Oncology Assays Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing adoption of targeted therapies and early cancer detection. The market size for 2023 is US$ 4556.83 Mn.

Regional analysis: North America dominates the market and is expected to continue its dominance during the forecast period owing to growing research funding, rapid adoption of advanced technologies in the US and Canada. Asia Pacific exhibits the fastest growth attributed to rising healthcare expenditure, large patient pool and improving diagnostic infrastructure in major countries like India and China.

Key players analysis: Key players operating in the Immuno-Oncology Assays market are Charles River, Roche, llumina, and Agilent Technologies, Inc., among others. Charles River offers comprehensive solutions for antibody characterization, potency assays and biomarker discovery services to support customer research and development initiatives. Roche provides immunoassay kits, analyzers and reagents for a wide array of biomedical tests. 

Comments

Post a Comment

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

Image
Security Robot Market The Security Robot Market is estimated to be valued at US$ 11.8 billion in 2022 and is expected to exhibit a CAGR of 12.87% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Security Robot Market encompasses advanced robotic technologies that are specifically designed and developed to enhance security and surveillance operations. These robots are equipped with features such as video surveillance, thermal imaging, facial recognition, and intrusion detection, among others. They are extensively used by security agencies and organizations across various sectors, including residential, commercial, industrial, and government, to enhance safety, reduce human intervention, and streamline security operations. Security robots offer real-time monitoring, remote control, and high accuracy, making them an ideal choice for surveillance in sensitive areas and remote locations. Market Dynamics:
Read more

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Image
  Scottish Whisky Market The Scottish Whisky Market is a captivating landscape that has been evolving and transforming over the years. It is a world of tradition, craftsmanship, and heritage, where every drop of whisky tells a story. The history of Scottish whisky traces back centuries, with the earliest records dating back to the 15th century. Whisky production initially started in monasteries, where monks distilled spirits for medicinal purposes. Over time, whisky production moved from monastic settings to farms and then to commercial distilleries. This transition marked the beginning of an industry that would become synonymous with Scotland. Scottish Whisky Market Was Valued At US$ 4.97 Bn In 2018, And It Is Expected To Reach US$ 7.89 Bn By The End Of 2027, Exhibiting A CAGR Of 5.3% During The Forecast Period (2019 To 2027). One of the defining characteristics of the Scottish Whisky Market is its adherence to traditional production methods. Scotch whisky is made from malted b
Read more

The Global Methyl & Ethyl Chloroacetate Market Is Expected To Register A Cagr Of 7.9% In Terms Of Revenue Over The Forecast Period (2019-2027)

Image
  Methyl chloroacetate is a colourless liquid with a pungent odour that is used as a dyestuff, medicine, and pesticide intermediate. Methyl chloroacetate has several advantages, including a precise pH value, excellent purity, precise composition, and a longer shelf life. Ethyl chloroacetate is a clear liquid with a strong, fruity odour that is used in the production of dyes, chemical compounds, and other products. Ethyl chloroacetate's benefits include a balanced composition, stable chemical and physical properties, and optimum purity.   The global methyl & ethyl chloroacetate market was valued at US$ 760.6 Mn in 2018, and is expected to register a CAGR of 7.9% in terms of revenue over the forecast period (2019-2027), to reach US$ 1,562.8 Mn by 2027.   Over the forecast period, the global Methyl & Ethyl Chloroacetate Market is expected to grow significantly. The various benefits offered by methyl and ethyl chloroacetate have led to an increase in their use in end-use indus
Read more