Immuno Oncology Assays Market Size to Surpass USD 18.08 Bn by 2032
The global Immuno Oncology Assays market size was estimated at USD 5.52 billion in 2022 and is expected to surpass around USD 18.08 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 12.6% during the forecast period 2023 to 2032.
Key Takeaways:
Immuno Oncology Assays Market Report Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 6.21 Billion |
| Market Size by 2032 | USD 28.33 Billion |
| Growth Rate From 2023 to 2032 | CAGR of 12.6% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Product & service, Technology, Indication, Application, and Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
| Key Companies Profiled | 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). |
Immuno Oncology Assays Market Dynamics
Drivers: Rising incidence of cancer and growing adoption of targeted therapies
Cancer is a complex disease that develops through the multi-stage carcinogenesis process involving multiple molecular pathway events. Thus, various hurdles are associated with cancer diagnosis, prognosis, and therapy. In this regard, due to the complex nature of cancer, a single marker is not helpful. Moreover, in terms of its molecular profile, each cancer is different from other cancer types. Hence, the use of immuno-oncology assays has been particularly significant in understanding cancer signatures and developing customized therapies.
Globally, the prevalence of cancer has increased significantly over the last few years. Cancer, which has become the leading cause of death globally, accounted for 9.6 million deaths in 2018. According to GLOBOCAN, the number of cancer cases will rise to approximately 30 million by 2040 from 18 million in 2018. More than 60% of new cancer cases occur in Africa, Asia, and Central and South America; 70% of global cancer deaths also occur in these regions. Thus, the growth in the incidence and prevalence of cancer has resulted in a need to conduct extensive research for diagnosis and treatment; immuno-oncology assays form an important part of this research.
Opportunities: Emerging markets offer lucrative opportunities
Emerging economies such as China, India, South Korea, Brazil, and Mexico offer significant growth opportunities to major market players. This can be attributed to their low regulatory barriers, improvements in healthcare infrastructure, growing patient population, and rising healthcare expenditure. The regulatory policies in the Asia Pacific are more adaptive and business-friendly than those in developed countries. This, along with the increasing competition in mature markets, has drawn key players in the immuno-oncology assays market to focus on emerging countries.
Restraints: Requirement of high capital investments and low cost-benefit ratio
Significant capital investments are required for the discovery, development, and validation of biomarkers. Additionally, due to the high drug attrition in clinical trials (with almost 30% of drugs failing in Phase III), diagnostic manufacturers are exposed to significant financial challenges. To gain approval for in vitro diagnostics (IVD) from regulators, manufacturers need successful Phase III clinical trials, which depend on well-validated biomarker tests. Huge investments are required to run clinical trials and address stringent regulatory requirements, which not only affect the ability of small companies to develop biomarkers but also severely affect innovation. Hence, along with the high amount of capital investments, the low cost-benefit ratio is hindering the growth of the immuno-oncology assays market for biomarker detection.
“In 2022, consumables segment accounted for the largest share of the immuno-oncology assays market, by product & service”
Based on product & service, the immuno-oncology assays market is segmented into consumables, instruments, and software & services. The consumables segment accounted for the largest share of the immuno-oncology assays market in 2022. The requirement of consumables in large numbers as compared to instruments is the main factor driving the growth of this segment.
In 2022, PCR segment accounted for the largest share in the market, by technology
The immuno-oncology assays market is segmented into PCR, immunoassay, NGS, flow cytometry, and ISH based on technology. In 2022, the PCR segment accounted for the largest share. The growing use of PCR in immuno-oncology biomarker identification and discovery research is driving the growth of this segment.
In 2022, research applications segment accounted for the largest share in the market, by application
The immuno-oncology assays market is segmented into research applications and clinical diagnostics based on application. In 2022, the research applications segment accounted for the largest share of the immuno-oncology assays market. The rising prominence of biomarker-based drug development is driving the growth of this segment.
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 2022, 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.
Some of the prominent players in the Immuno Oncology Assays Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2032. For this study, Nova one advisor, Inc. has segmented the global Immuno Oncology Assays market.
By Product & Service
By Technology
By Indication
By Application
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Immuno Oncology Assays Market, By Product & Service
7.1. Immuno Oncology Assays Market, By Product & Service, 2023-2032
7.1.1. Consumables
7.1.1.1. Market Revenue and Forecast 2020-2032
7.1.2. Instruments
7.1.2.1. Market Revenue and Forecast 2020-2032
7.1.3. Software & Services
7.1.3.1. Market Revenue and Forecast 2020-2032
Chapter 8. Global Immuno Oncology Assays Market, By Technology
8.1. Immuno Oncology Assays Market, By Technology, 2023-2032
8.1.1. PCR
8.1.1.1. Market Revenue and Forecast 2020-2032
8.1.2. Immunoassay
8.1.2.1. Market Revenue and Forecast 2020-2032
8.1.3. NGS
8.1.3.1. Market Revenue and Forecast 2020-2032
8.1.4. ISH
8.1.4.1. Market Revenue and Forecast 2020-2032
8.1.5. Flow Cytometry
8.1.5.1. Market Revenue and Forecast 2020-2032
Chapter 9. Global Immuno Oncology Assays Market, By Indication
9.1. Immuno Oncology Assays Market, By Indication, 2023-2032
9.1.1. Lung Cancer
9.1.1.1. Market Revenue and Forecast 2020-2032
9.1.2. Breast Cancer
9.1.2.1. Market Revenue and Forecast 2020-2032
9.1.3. Colorectal Cancer
9.1.3.1. Market Revenue and Forecast 2020-2032
9.1.4. Bladder Cancer
9.1.4.1. Market Revenue and Forecast 2020-2032
9.1.5. Melanoma
9.1.5.1. Market Revenue and Forecast 2020-2032
9.1.6. Other Cancers
9.1.6.1. Market Revenue and Forecast 2020-2032
Chapter 10.Global Immuno Oncology Assays Market, By Application
10.1. Immuno Oncology Assays Market, By Application, 2023-2032
10.1.1. Research Applications
10.1.1.1. Market Revenue and Forecast 2020-2032
10.1.2. Clinical Diagnostics
10.1.2.1. Market Revenue and Forecast 2020-2032
Chapter 11.Global Immuno Oncology Assays Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.1.2. Market Revenue and Forecast, By Technology 2020-2032
11.1.3. Market Revenue and Forecast, By Indication 2020-2032
11.1.4. Market Revenue and Forecast, By Application 2020-2032
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.1.5.2. Market Revenue and Forecast, By Technology 2020-2032
11.1.5.3. Market Revenue and Forecast, By Indication 2020-2032
11.1.5.4. Market Revenue and Forecast, By Application 2020-2032
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.1.6.2. Market Revenue and Forecast, By Technology 2020-2032
11.1.6.3. Market Revenue and Forecast, By Indication 2020-2032
11.1.6.4. Market Revenue and Forecast, By Application 2020-2032
11.2. Europe
11.2.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.2.2. Market Revenue and Forecast, By Technology 2020-2032
11.2.3. Market Revenue and Forecast, By Indication 2020-2032
11.2.4. Market Revenue and Forecast, By Application 2020-2032
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.2.5.2. Market Revenue and Forecast, By Technology 2020-2032
11.2.5.3. Market Revenue and Forecast, By Indication 2020-2032
11.2.5.4. Market Revenue and Forecast, By Application 2020-2032
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, By Product & Service2020-2032
11.2.6.2. Market Revenue and Forecast, By Technology 2020-2032
11.2.6.3. Market Revenue and Forecast, By Indication 2020-2032
11.2.6.4. Market Revenue and Forecast, By Application 2020-2032
11.2.7. France
11.2.7.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.2.7.2. Market Revenue and Forecast, By Technology 2020-2032
11.2.7.3. Market Revenue and Forecast, By Indication 2020-2032
11.2.7.4. Market Revenue and Forecast, By Application 2020-2032
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.2.8.2. Market Revenue and Forecast, By Technology 2020-2032
11.2.8.3. Market Revenue and Forecast, By Indication 2020-2032
11.2.8.4. Market Revenue and Forecast, By Application 2020-2032
11.3. APAC
11.3.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.3.2. Market Revenue and Forecast, By Technology 2020-2032
11.3.3. Market Revenue and Forecast, By Indication 2020-2032
11.3.4. Market Revenue and Forecast, By Application 2020-2032
11.3.5. India
11.3.5.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.3.5.2. Market Revenue and Forecast, By Technology 2020-2032
11.3.5.3. Market Revenue and Forecast, By Indication 2020-2032
11.3.5.4. Market Revenue and Forecast, By Application 2020-2032
11.3.6. China
11.3.6.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.3.6.2. Market Revenue and Forecast, By Technology 2020-2032
11.3.6.3. Market Revenue and Forecast, By Indication 2020-2032
11.3.6.4. Market Revenue and Forecast, By Application 2020-2032
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.3.7.2. Market Revenue and Forecast, By Technology 2020-2032
11.3.7.3. Market Revenue and Forecast, By Indication 2020-2032
11.3.7.4. Market Revenue and Forecast, By Application 2020-2032
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.3.8.2. Market Revenue and Forecast, By Technology 2020-2032
11.3.8.3. Market Revenue and Forecast, By Indication 2020-2032
11.3.8.4. Market Revenue and Forecast, By Application 2020-2032
11.4. MEA
11.4.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.4.2. Market Revenue and Forecast, By Technology 2020-2032
11.4.3. Market Revenue and Forecast, By Indication 2020-2032
11.4.4. Market Revenue and Forecast, By Application 2020-2032
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.4.5.2. Market Revenue and Forecast, By Technology 2020-2032
11.4.5.3. Market Revenue and Forecast, By Indication 2020-2032
11.4.5.4. Market Revenue and Forecast, By Application 2020-2032
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.4.6.2. Market Revenue and Forecast, By Technology 2020-2032
11.4.6.3. Market Revenue and Forecast, By Indication 2020-2032
11.4.6.4. Market Revenue and Forecast, By Application 2020-2032
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.4.7.2. Market Revenue and Forecast, By Technology 2020-2032
11.4.7.3. Market Revenue and Forecast, By Indication 2020-2032
11.4.7.4. Market Revenue and Forecast, By Application 2020-2032
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.4.8.2. Market Revenue and Forecast, By Technology 2020-2032
11.4.8.3. Market Revenue and Forecast, By Indication 2020-2032
11.4.8.4. Market Revenue and Forecast, By Application 2020-2032
11.5. Latin America
11.5.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.5.2. Market Revenue and Forecast, By Technology 2020-2032
11.5.3. Market Revenue and Forecast, By Indication 2020-2032
11.5.4. Market Revenue and Forecast, By Application 2020-2032
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.5.5.2. Market Revenue and Forecast, By Technology 2020-2032
11.5.5.3. Market Revenue and Forecast, By Indication 2020-2032
11.5.5.4. Market Revenue and Forecast, By Application 2020-2032
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, By Product & Service 2020-2032
11.5.6.2. Market Revenue and Forecast, By Technology 2020-2032
11.5.6.3. Market Revenue and Forecast, By Indication 2020-2032
11.5.6.4. Market Revenue and Forecast, By Application 2020-2032
Chapter 12. Company Profiles
12.1. Thermo Fisher Scientific, Inc. (US)
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. F. Hoffmann-La Roche Ltd. (Switzerland)
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Agilent Technologies, Inc. (US)
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Illumina, Inc. (US)
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. NanoString Technologies, Inc. (US)
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Sartorius AG (Germany)
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. HTG Molecular Diagnostics, Inc. (US)
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. QIAGEN N.V. (Netherlands)
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Merck Millipore (US)
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. PerkinElmer, Inc. (US)
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Abbott Laboratories, Inc. (US)
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
12.12. Guardant Health, Inc. (US)
12.12.1. Company Overview
12.12.2. Product Offerings
12.12.3. Financial Performance
12.12.4. Recent Initiatives
12.13. bioMérieux SA (France)
12.13.1. Company Overview
12.13.2. Product Offerings
12.13.3. Financial Performance
12.13.4. Recent Initiatives
12.14. Myriad Genetics, Inc. (US)
12.14.1. Company Overview
12.14.2. Product Offerings
12.14.3. Financial Performance
12.14.4. Recent Initiatives
12.15. MESO SCALE DIAGNOSTICS, LLC. (US)
12.15.1. Company Overview
12.15.2. Product Offerings
12.15.3. Financial Performance
12.15.4. Recent Initiatives
12.16. Seegene Inc. (South Korea)
12.16.1. Company Overview
12.16.2. Product Offerings
12.16.3. Financial Performance
12.16.4. Recent Initiatives
12.17. Bio-Rad Laboratories, Inc. (US)
12.17.1. Company Overview
12.17.2. Product Offerings
12.17.3. Financial Performance
12.17.4. Recent Initiatives
12.18. Charles River Laboratories, Inc. (US)
12.18.1. Company Overview
12.18.2. Product Offerings
12.18.3. Financial Performance
12.18.4. Recent Initiatives
12.19. Olink (Sweden), ASURAGEN, INC. (US)
12.19.1. Company Overview
12.19.2. Product Offerings
12.19.3. Financial Performance
12.19.4. Recent Initiatives
12.20. Invivoscribe, Inc. (US)
12.20.1. Company Overview
12.20.2. Product Offerings
12.20.3. Financial Performance
12.20.4. Recent Initiatives
12.21. Creative Biolabs (US)
12.21.1. Company Overview
12.21.2. Product Offerings
12.21.3. Financial Performance
12.21.4. Recent Initiatives
12.22. ReachBio LLC (US)
12.22.1. Company Overview
12.22.2. Product Offerings
12.22.3. Financial Performance
12.22.4. Recent Initiatives
12.23. NMI Technologietransfer GmbH (Germany)
12.23.1. Company Overview
12.23.2. Product Offerings
12.23.3. Financial Performance
12.23.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers