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The Global Immuno-Oncology Assays Market Growth Accelerated By Immuno-Oncology Diagnostics

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Dhanesha Patil
The Global Immuno-Oncology Assays Market Growth Accelerated By Immuno-Oncology Diagnostics

Immuno-oncology assays are widely used for the sensitive detection of cancer biomarkers to assist in cancer diagnosis and monitor responses to therapy. These assays provide invaluable information to physicians for cancer prognosis and personalized treatment decisions. Advances in targeted therapies for cancer subtypes have spurred rapid adoption of complementary immuno-oncology diagnostic tools.

The global Immuno-Oncology Assays Market is estimated to be valued at US$ 4556.83 million 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 rapid development and approval of immuno-oncology drugs has been a major factor fueling demand for complementary companion diagnostic assays. Rising cancer incidence globally has also increased the clinical need for sensitive and specific tools to tailor immunotherapy based on individual patient and tumor characteristics. Moreover, the focus on liquid biopsy techniques for non-invasive tumor profiling is a key trend in this market. Circulating tumor DNA analysis enables real-time monitoring of treatment responses and helps optimize care. Major players are investing in liquid biopsy assay development to gain market share in this high growth segment.


Segment Analysis

The Immuno-Oncology Assays Market Demand is dominated by PD-L1 protein detection segment. PD-L1 protein assays form an important part of precision medicine for the selection of immunotherapy patients. These tests help in identifying the expression of PD-L1 protein on tumor cells or immune cells which plays a key role in predicting response to PD-1/PD-L1 targeted therapies. Due to the high clinical relevance and availability of FDA-approved PD-L1 IHC companion diagnostic assays, this segment currently holds the largest share in the IO assays market.


Key Takeaways

The global Immuno-Oncology Assays Market is expected to witness high growth over the forecast period of 2023 to 2030. The global Immuno-Oncology Assays Market is estimated to be valued at US$ 4556.83 million in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030.

North America is currently the dominant regional market for immuno-oncology assays owing to rapid adoption of novel immunotherapies and widespread availability of companion diagnostic assays. The presence of leading pharmaceutical players and advanced healthcare infrastructure further supports the growth of the IO assays market in the region. In the Asia Pacific region, countries like China, Japan and India are expected to be the fastest growing regional markets during the forecast period. This can be attributed to the increasing healthcare investments by regional governments, rising awareness about immunotherapy, and favorable reimbursement scenarios for 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 and Johnson & Johnson dominate the PD-L1 protein detection segment of the IO assays market with their FDA-approved companion diagnostics.

Get more insights on this topic: https://www.trendingwebwire.com/immuno-oncology-assays-market-size-and-share-analysis-growth-trends-and-forecasts/

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Dhanesha Patil
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