Immuno-oncology assays are diagnostic tools used for research and drug development in cancer immunotherapy. These assays help monitor immune response by measuring PD-L1/PD-1 biomarkers and tumor-infiltrating lymphocytes. With the rising prevalence of cancer worldwide and advancements in immunotherapy, the need for personalized cancer treatment is growing. Immuno-oncology assays aid in understanding disease pathology at a molecular level to develop targeted therapies.
The global Immuno-Oncology Assays Market is estimated to be valued at US$ 4556.83 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The advancement in immuno-oncology therapies has been a major trend boosting the immuno-oncology assays market. Immuno-oncology is revolutionizing cancer treatment with therapeutic approaches that harness the power of the immune system to recognize and destroy cancer cells. With ongoing research aiming to leverage the immune response against tumors, assays play a vital role by providing biomarker analysis to identify responsive patient populations and facilitate development of combinatorial immunotherapies. This has significantly driven the demand for sensitive and high-throughput immuno-oncology assays.
Segment Analysis
The global immuno-oncology assays market is dominated by the PD-L1 expression assays sub-segment due to the extensive research on immunotherapy drugs targeting the programmed cell death pathway. PD-L1 expression assays help in identifying patients likely to respond to anti-PD-1 or anti-PD-L1 therapies and provide crucial information for clinical and drug development processes.
Key Takeaways
The global Immuno-Oncology Assays Market Demand is expected to witness high growth over the forecast period owing to factors such as rising adoption of targeted therapies and growing demand for companion diagnostics from biopharmaceutical companies. The global Immuno-Oncology Assays Market is estimated to be valued at US$ 4556.83 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030.
Regional analysis: North America dominated the global market in 2023 and is expected to maintain its leading position during the forecast period. This can be attributed to the rising research funding by government organizations and increasing use of immuno-oncology therapies in cancer treatment.
Key players: Key players operating in the immuno-oncology assays market are Medtronic plc, EndoGastric Solutions, Inc., Johnson & Johnson, and Torax Medical, Inc. Medtronic plc offers a wide range of IHC, NGS, and PCR assays through its subsidiary companies like DAKO to help identify suitable candidates for immunotherapy clinical trials. EndoGastric Solutions, Inc. provides portfolio of targeted PCR-based assays to detect sequence variants associated with immunotherapy response.
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