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Immuno Oncology Assays Market Size
Immuno Oncology Assays Market size is expected to witness commendable growth over 2024-2032, driven by the benefits of cancer immunotherapy over chemotherapy and other conventional therapies, including fewer immediate and long-term side effects like heart problems and peripheral neuropathy.
The World Health Organization predicts a staggering 77% increase in new cancer cases by 2050, reaching over 35 million, up from approximately 20 million in 2022. Cancer remains a leading cause of morbidity and mortality globally, driving the demand for innovative diagnostic and therapeutic solutions. Immuno-oncology assays play a crucial role in characterizing tumor-immune interactions, predicting patient responses to immunotherapy, and guiding personalized treatment approaches. With the growing burden of cancer across diverse cancer types, the demand for immuno-oncology assays is expected to escalate significantly.
Immuno Oncology Assays Market Trends
Technological advancements in assay development are further driving innovation in the immuno-oncology assays market. Improved assay sensitivity, specificity, and multiplexing capabilities enable comprehensive profiling of immune responses and tumor microenvironments. Next-generation sequencing (NGS), flow cytometry, and multiplex immunohistochemistry (IHC) techniques are increasingly utilized to analyze complex immune landscapes and identify predictive biomarkers for immunotherapy response.
Immuno Oncology Assays Market Analysis
The consumables segment size is anticipated to expand through 2032, credited to the significant rise in R&D investments and initiatives undertaken by key market players to develop advanced techniques. These innovations are utilized in diagnostic tests in clinical labs and hospitals, providing efficient and fast results.
The colorectal cancer indication segment will account for a major share in the market by 2032, attributed to the growing number of geriatric people globally. According to the WHO, the population aged 60 years and above will surge from 1 billion in 2020 to over 1.4 billion in 2030, which could drive segmental growth, as most people diagnosed with colorectal cancer are above 50 years of age. Likewise, the rising adoption of sedentary lifestyles and the global burden of obesity will augment the need for immuno oncology treatments for colorectal cancer, as obesity is a well-established factor of the cancer type.
North America immuno oncology assays market is set to amass considerable gains by 2032, on account of the increasing prevalence of cancer and the significant development of combination immunotherapy for patients diagnosed with metastatic kidney cancer in the U.S. Dual immunotherapies, including ipilimumab/nivolumab, for example, have become a new standard for kidney cancer care across the country. Additionally, advanced healthcare infrastructure, alongside the awareness about benefits of early disease detection.
Immuno Oncology Assays Market Share
Key immuno oncology assays industry players include:
- Thermo Fisher Scientific
- Sartorius
- Qiagen
- PerkinElmer
- NanoString Technologies
- Merck
- Illumina
- HTG Molecular Diagnostics
- F. Hoffmann-La Roche
- Agilent Technologies
Strategic product launches and business expansions are among the initiatives undertaken by these firms to boost their footprint in the global industry.
Immuno Oncology Assays Industry News
- In January 2024, Thermo Fisher Scientific introduced Gibco™ Cell Therapy Systems (CTS™) Cellmation™ Software, a new automation solution. It integrates workflows across Thermo Fisher Scientific cell therapy instruments and ensures cGMP compliance for innovators in breakthrough cell therapies.