Next-Generation Sequencing Is Fastest Growing Segment Fueling The Growth Of Immuno-Oncology Assays Market

Immuno-Oncology Assays Market

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 10 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Immuno-oncology assays assess the status of immune checkpoints and help in determining the success of immuno-oncology therapies. These assays play a crucial role in the development of immuno-oncology companion diagnostics tests and monitoring of minimal residual disease in cancer patients.

Market key trends:
Next-generation sequencing (NGS) technology has opened up new avenues for performing genetic and genomic analyses. NGS can detect mutational signatures of neoantigens in tumors that prime immune responses. Combining NGS with immuno-oncology assays enables comprehensive interrogation of tumor immunogenicity and biomarker discovery. This has emerged as one of the key trends in the immuno-oncology assays market.
Segment Analysis
Content: The global immuno-oncology assays market is segmented based on technology, cancer type, application, and end user. By technology, the market is classified into immunoassay, flow cytometry, PCR, and next-generation sequencing (NGS). Among these, the flow cytometry segment dominated the market in 2023 due to its high adoption in cancer research studies. Flow cytometry allows comprehensive analysis of immune cells, which helps in cancer diagnosis and detection.

Key Takeaways
Market size: The global Immuno-Oncology Assays Market Growth is expected to witness high growth, exhibiting CAGR of 10.% over the forecast period, due to increasing R&D investments made by pharmaceutical companies in cancer immunotherapy drugs development.
Regional analysis: North America dominated the global market with a share of over 35.0% in 2023 due to the rising prevalence of cancer and favorable government support for drug development in the US and Canada.
Key players: Key players operating in the immuno-oncology assays market are Charles River, Roche, Ilumina, and Agilent Technologies, Inc., among others. Charles River Laboratories provides a comprehensive portfolio of early-stage immuno-oncology CRO services for pharma/biotech companies that includes assays for tumor profiling, immune monitoring, target identification and validation.

For more insights, read- https://www.ukwebwire.com/immuno-oncology-assays-market-trends-size-and-share-analysis/