The Infinium Global Research analyzes the “Immuno Oncology Assays Market (Product – Consumables, and Software; Technology – PCR, Immunoassays, NGS, Flow Cytometry, and Other Technology; Indication – Lung Cancer, Colorectal Cancer, Melanoma, Bladder Cancer, and Other Indication; Application – Research Applications, and Clinical Diagnostics): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global immuno oncology assays market is projected to grow at a CAGR of 8.6% over the forecast period of 2019-2025.
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Immune oncology is an area of medical research, which examines how a body’s immune system can fight cancer. Immuno oncology assays helps to determine the patient cancer condition during cancer treatment. Further, it helps to assess the patient’s suitability to immunotherapy. These tests help to stimulate the immune system to treat cancer and enhance the immune of the body to combat against cancer.
As per the World Health Organisation’s estimation, around 10 million people died worldwide in 2018 due to cancer. It cost around USD 1.16 trillion to the global economy. Around 30-50% of cancers can be prevented with the help of better testing and treatment of the patients. Cancer is the second leading cause of death globally. As per the World Health Organisation’s estimation, around 70% of death from cancer occur in low and middle-income countries.
Further, the most common form of cancers in 2018 were lung(2.9 million cases), breast(2.09 million case), colorectal(1.80 million cases), prostate(1.28 million cases), skin cancer(non-melanoma, 1.04 million cases) and stomach(1.03 million cases). Additionally, these cancerous diseases were the major common causes of cancer death around the world in 2018.
Excessive Use of Tobacco is the Major Driver for the Growth of the Market
The growing use of tobacco in different form as cigarettes, e-cigarette, and smokeless tobacco is the leading cause of the cancer problem. Further, an unhealthy diet with low fruit and vegetable intake, lack of physical exercise, excessive alcohol consumption are the other factors for the growth of the immune-oncology assays market. As per the World Health Organisation, tobacco use is the single major factor for the cancer problem, and it is responsible for around 22% of cancer-related death globally.
Immuno Oncology Assays Market: Segmentations
The global immune-oncology assays market is segmented into four segments on the basis of product, technology, indication, and application. On the basis of the product, the global immune-oncology assays market is divided into consumables and software. On the basis of the technology, the global immune-oncology assays market is divided into PCR, Immunoassays, NGS, Flow Cytometry, and Other technology.
Further, on the basis of the indication, the global immune-oncology assays market is divided into Lung Cancer, Colorectal Cancer, Melanoma, Bladder Cancer, and Other Indication. Additionally, on the basis of the application, the global immuno oncology assays market is research applications and clinical diagnostics.
Immuno Oncology Assays Market: Competitive Landscape
The global immune-oncology assays market is highly competitive. The prominent players operating in the global immune-oncology assays market is PerkinElmer, Inc., HTG Molecular Diagnostics, Inc., Foundation Medicine, Inc., Sartorius AG, NanoString Technologies, Inc., Agilent Technologies, F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Illumina, Inc, and QIAGEN GmbH. Additionally, there are numerous players doing well in their respective captured markets.
North America is the Leading Region of the Immune Oncology Assays Market During the Forecast Period
Geographically, the global immuno oncology assays market is segmented into North America, Europe, Asia Pacific, and RoW. North America is the leading region of the immune-oncology assays market, owing to the presence of the large patient pool in this region. Additionally, the availability of several immuno oncology assays service providing healthcare companies is helping to maintain the leading position of this region in the global market.
Europe is the second-largest market after North America for the immuno oncology assays market. The Asia-Pacific free oncology assays market is expected to grow at the highest CAGR during the forecast period, owing to the government support and dedication to pervade modern cancer treatment and testing facilities to its citizens at the affordable cost.
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=> Comprehensive analysis of global as well as regional markets of the immuno oncology assays.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.