The global immuno-oncology assay market accounted for $2,769 million in 2018, and is expected to reach $6,179 million by 2026, growing at a CAGR of 10.6% from 2019 to 2026.
The immuno-oncology assay is a type of immunoassay primarily used for cancer diagnosis. It is a procedure in which various analytes such as proteins, biomolecules, growth factors, cytokines, and chemokines are profiled by detecting and quantifying them simultaneously. This procedure majorly uses the body's natural defense system to target and destroy cancer cells. This assay is used as a tool for in vitro analysis to study the dynamic interactions between cancer cells & immune cells, intricate tumor microenvironment, perceiving immunoreactivity in a multitude of cell-based assays to predict mode of action, and pharmacodynamics. Moreover, immuno-oncology assay holds enormous potential in the R&D of drugs for the treatment of diseases, such as cancer and cardiovascular diseases. For instance, xMAP multiplex assay provides a platform for cancer biomarker assays, which are compatible with plasma, serum, cultured cells, and other biological samples. The American Association of Cancer Research (AACR) developed the multiplex immunoassay that helped in the examination of acquired resistance to receptor tyrosine kinase (RTK) inhibitors. RTK is used as a target for drug development for the treatment of cancer.
The immuno-oncology assay market is witnessing significant growth, owing to increase in R&D activities in pharmaceuticals for the treatment of cancer. These assays are used in clinical trials, as they decrease the cost of research & manual labor and increase the efficiency of experiments and therapies. Moreover, they allow to understand a compound’s response precisely intended to mimic the tumor microenvironment. Optimized cell-based assays deliver crucial information to confirm the efficiency of a drug or a compound in simple and progressively complex co-culture assays. In addition, they offer easier & faster analysis of cancer, and are automated as compared to conventional methods, thus fueling the immune-oncology assay market growth. However, high capital investment and dearth of skilled labors are the major factors that hinder the market growth. Conversely, technological development of automated immuno-oncology assay is projected to create lucrative opportunities for the market growth during the forecast period. In addition, surge in government initiatives towards biotech research is expected to create various opportunities in developing economies. For instance, developing countries such as India, Australia, and Mexico, the governments have invested in the development of healthcare, facilitating an increase in the number of clinical laboratories, hospitals, and research centers. According to the AACR, a 7% increase was witnessed in federal funding for the National Cancer Institute (NCI) and the National Institute of Health (NIH) in 2015. In addition, increase in prevalence of diseases, such as cancer, has enforced researchers to develop biomarkers and drugs for the detection and treatment of cancer. Hence, a multiplex assay panel for immuno-oncology analysis helps to meet the needs of pharmaceutical researchers, thus driving the market growth during the forecast period.
The global immuno-oncology assay market in this report is studied on the basis of product, technology, indication, application, and region. By product, the market is divided into consumables and software. Depending on technology, it is classified into immunoassay, polymerase chain reaction (PCR), next-generation sequencing (NGS), flow cytometry, and others. According to indication, it is segregated into colorectal cancer, lung cancer, melanoma, bladder cancer, and others. As per application, it is fragmented into clinical diagnostics and research. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Product
Software segment is projected as one of the most lucrative segments.
Product segment review
By product, the consumables segment held the largest share of 60% in 2018, and is anticipated to remain the same during the forecast period, due to the usage of several kinds of reagents, kits, instruments for performing the assays. However, software segment is anticipated to grow at the fastest rate during the forecast period.
By Technology
Immunoassay segment is projected as one of the most lucrative segments.
Technology segment review
Depending on technology, the PCR segment accounted for the majority of market share in 2018, and is anticipated to continue its dominance during the forecast period. This is attributed to the wide usage of PCR while performing oncology diagnosis and research. In addition, technological advancements in PCR technology such as advent of real-time PCR contributes toward the growth of the segment.
Region wise, the immuno-oncology assay market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2018, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to increase in funding by government agencies and rise in focus to develop novel drug and biomarkers in this region. However, as per immuno-oncology assay market forecast, Asia-Pacific is projected to register the highest growth rate from 2019 to 2026. This is attributed to rise in investment by the government as well as private companies for research activities. In addition, increase in penetrance of key players, including Thermo Fisher and Illumina, Inc., in this region fuels the growth of the immuno-oncology assay market.
By Region
Asia-Pacific region would exhibit the highest CAGR of 12.9% during 2019-2026.
The major players operating in the global immuno-oncology assays market are Luminex Corporation, Thermo Fisher Scientific Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Becton, Dickinson and Company, Abcam PLC, Seegene Inc., Meso Scale Diagnostics LLC, and Randox Laboratories Ltd. These players have adopted product launch, collaboration, and merger & acquisition as their key developmental strategies. The other players (not included in the report) include Merck, Agilent Technologies, Quanterix, and Olink.
Key Benefits for Stakeholders:
- The study provides an in-depth analysis of the global immuno-oncology assay market share with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market is provided.
- A comprehensive quantitative immuno-oncology assay market analysis is provided from 2018 to 2026 to assist stakeholders to capitalize on the prevailing opportunities.
- An extensive analysis of the key segments of the industry helps to understand the global immuno-oncology assay market trends.
- Key players and their strategies are provided to understand the competitive outlook of the industry.
Immuno-oncology Assay Market Report Highlights
| Aspects | Details |
 By Product |
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 By Technology |
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 By Indication |
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 By Application |
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 By Region |
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 Key Market Players | F. HOFFMANN-LA ROCHE LTD., THERMO FISHER SCIENTIFIC, INC., AGILENT TECHNOLOGIES, INC., PERKINELMER, INC., NanoString Technologies, Inc., Sartorius AG, Charles River Laboratories, Inc., QIAGEN N.V., BIO-RAD LABORATORIES, INC., ILLUMINA, INC. |
Analyst Review
The utilization of immuno-oncology assays for diagnostic purposes and clinical research is increasing. This is attributed to the fact that clinical study for cancer is currently experiencing an exhilarating shift, as the range of accessible drugs has extended beyond chemotherapy to new molecularly targeted therapies. In addition, these assays increase the efficiency of experiments in clinical laboratories for biomarker validation and diagnosis & treatment of diseases. Furthermore, recent innovations and constant developments in this field have fueled the adoption of this these assays across various applications. For instance, Seegene in 2018, developed world’s first multiplex MDx assays with artificial intelligence (AI) system. The performance of these assays developed by using AI is superior better than as compared to manually developed assays.
Moreover, immuno-oncology assay are used prominently for clinical research, due to increase in R&D activities to introduce novel drug therapies. According to the CXOs, increase in economic strength of the developing nations such as China, India, Indonesia, and Thailand, and others and rise in healthcare expenditure and coupled with government funding for R&D are expected to drive the market growth during the forecast period. North America and Europe are expected to dominate the market of immuno-oncology assay during the forecast period, while emerging countries in Asia-Pacific and Latin America are expected to offer significant growth opportunities.
The market vaule of global Immuno-Oncology Assays market was $2,769.5 million in 2018.
The forecast period is from 2019 to 2026.
The market value of global Immuno-Oncology Assays market in 2019 is $6,179.2 million.
The adoption of Immuno-Oncology Assays is expected to increase due to surge in prevalance of cancer across the globe.
No, the report does not provides value chain analysis.
Introduction of multiplex assays.
Emerging countries of Asia-Pacific region are growing at a growth rate of 12.9%. China, India, are expected grow at a CAGR of 15.5% and 14.3% respectively.
The North America market held a major share in the Immuno-Oncology Assays market in 2018 and is expected to continue the trend in the forecasting period.
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