Immuno Oncology Assays Market

Thermo Fisher Scientific, Inc. (US) and Illumina, Inc. (US) are Leading Players in the Immuno Oncology Assays Market

The global immuno-oncology assays market is projected to reach USD 7.9 billion by 2026 from USD 4.4 billion in 2021, at a CAGR of 12.5% during the forecast period. Growth in the immuno-oncology assays market is mainly driven by factors such as the rising incidence of cancer and growing adoption of targeted therapies, increased demand for personalized medicine, and the growing significance of companion diagnostics in drug development. However, the high cost of immunotherapy, 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 major players in this market are 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).

To know about the assumptions considered for the study download the pdf brochure

Thermo Fisher Scientific, Inc. held the leading position in the immuno-oncology assays market in 2020. The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The company adopts organic growth strategies to increase its dominance in this market. For instance, in 2018, Thermo Fisher launched three assays, namely, Oncomine TCR Beta-SR Assay, Ion Torrent Oncomine Pan-Cancer Cell-Free Assay, and Torrent Oncomine Tumor Mutation Load Assay to address the challenges in this market. Such developments have helped the company to significantly expand its product line and thereby enhance its visibility in the immuno-oncology assays market. The company intends to adopt new technologies and partner with new businesses to complement its existing business segments. Such developments will enable Thermo Fisher Scientific to add innovative technologies and products to its portfolio, which, in turn, will strengthen its presence in the immuno-oncology assays market.

In 2020, F. Hoffmann-La Roche Ltd. accounted for the second-largest share of the immuno-oncology assays market. The company has an extensive product portfolio based on various technologies such as PCR, IHC, CISH, and FISH. It has a wide geographic presence that spans North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with a strong direct and indirect distribution network across the globe. In order to sustain its leading position in the market, the company pursues inorganic growth strategies. For instance, in 2018, the company collaborated with SQZ Biotech, Inc. (US) to develop antigen-presenting cells-based immune-oncology treatments. Additionally, in 2018, Roche acquired Tusk Therapeutics (Belgium) to expand its oncology product portfolio. Such developments have helped the company enhance its visibility in the market.

Illumina’s leading position in this market can be attributed to its strong sales and distribution network across the globe, which enables it to effectively market its products in various countries. Illumina invests a significant amount of its revenue on R&D. This enables the company to develop and launch new products in the market. For instance, in 2018, the company launched its TruSight Oncology 500 assay, which is used to identify known and emerging tumor biomarkers. The company also focuses on collaborations and partnerships with leading players in the market to co-develop advanced technologies and strengthen its research and commercialization capabilities. For instance, in 2018, the company partnered with Loxo Oncology, Inc. (US) to co-develop and commercialize immuno-oncology products. Such developments have strengthened the company’s position in the immuno-oncology assays market.

Related Reports:

Immuno Oncology Assays Market by Product & Service (Consumables, Instruments, Software), Technology (PCR, NGS, Immunoassay), Cancer Indications (Lung, Breast, Colorectal, Bladder, Melanoma), Application (Research, Diagnostics) - Global Forecast to 2026

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Immuno Oncology Assays Market Size,  Share & Growth Report
Report Code
MD 6896
RI Published ON
4/22/2021
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

SEND ME A FREE SAMPLE
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status