According to Nova one advisor, the global Immuno Oncology Assays market value was estimated at US$ 3.9 Billion in 2020 and is projected to reach US$ 9.2 Billion by 2027, registering a CAGR of 13.6% from 2020 to 2027. The report contains 150+ pages with detailed analysis.
Overview of Immuno Oncology Assays Market Study
Immuno Oncology Assays market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.
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Growth Factors:
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 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.
Asia Pacific: The fastest-growing region immuno-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 centered on 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.
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 immuno-oncology assays market. The North American immuno-oncology assays market’s 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.
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COVID-19 Impact on Immuno Oncology Assays Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Immuno Oncology Assays market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Immuno Oncology Assays market 2021 onwards. This trend will however continue through the course of the report’s assessment period
Key Players:
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Immuno Oncology Assays market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the Immuno Oncology Assays market include:
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).
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Product & Service
- Consumables
- Instruments
- Software & Services
By Technology
- PCR
- Immunoassay
- NGS
- ISH
- Flow Cytometry
By Indication
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Bladder Cancer
- Melanoma
- Other Cancers
By Application
- Research Applications
- Clinical Diagnostics
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Why Buy this Report?
The purpose of Nova one advisor’s Immuno Oncology Assays market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
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