Immuno-oncology is the study and development of treatments that leverages the immune system of the body for fighting against cancer. The immune system of a body is a complex network of organs, cells, and molecules that protects the human body from a foreign substance including bacteria and viruses that may lead to the occurring of an infection. Apart from finding and destroying foreign substances, the immune system of the body is capable of locating and attacking abnormal cells. For precision cancer treatments, researchers and scientists are working on the development of new techniques and technologies that can harness the natural defense system of the body for targeting and eradicating cancer cells. The global immuno-oncology assay market size is expected to expand at a significant rate owing to various factors such as increasing adoption of targeted therapy coupled with the rising incidence of cancer. Further, the advancement in technology in molecular diagnostics, extensive R&D in cancer diagnostics, and increasing ongoing clinical trials in immunotherapy further contribute to the growth of the market.

Increasing prevalence of cancer is primarily expected to drive the global immuno-oncology assay market over the forecast period. According to the World Health Organization (WHO), the global cancer burden has risen to 18.1 million new cases and 9.6 million mortalities in 2018. Further, the aforementioned organization estimates that 1 in 5 men and 1 in 6 women, across the globe, develop cancer during their lifetime. Moreover, the disease has a mortality rate of nearly 1 in 8 men and 1 in 11 women. Globally, 43.8 million people are alive within 5 years of a cancer diagnosis. The increasing burden of cancer is attributed to various factors such as surging aging population, change in lifestyle, growing incidence and prevalence rate of certain cancer diseases.

Segmental Outlook

The report analyzes the global immuno-oncology assay market on the basis of technology, cancer type, and application. On the basis of technology, the market is segmented into PCR, NGS, immunoassays, and other technologies. While on the basis of cancer type, the market is segregated into lung cancer, colorectal cancer, melanoma, bladder cancer, and others. Furthermore, the report analyzes various applications of immuno-oncology assays including clinical diagnostic and research.

Global Immuno-Oncology Assay Market Share by Application, 2018 (%)

Research application segment to gain more traction over the forecast period

Research application segment held the largest market size in 2018 in terms of revenue generation. Moreover, the segment is also expected to register the fastest growth over the forecast period. The growth of the segment is attributed to the rising prominence of biomarker-based drug development and clinical trials, and the emergence of cancer immunotherapy. Furthermore, significant funding in the research programs for the development of biomarkers for various cancer is expected to fuel the segment growth. For instance, in March 2016, the National Cancer Institute invested nearly $5.5 million for establishing laboratories to advance research on biomarkers and biomarker assays for several cancers such as lung cancer, breast cancer, and prostate cancer. The National Cancer Institute with this funding aims to fund eight to ten Biomarker Developmental Laboratories for developing and characterizing the new biomarkers and assays or refining the existing ones.

Regional Outlook

The report analyzes the global immuno-oncology assay market on the basis of region which includes North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to dominate the market share in 2018 followed by Europe and Asia-Pacific. Major economies contributing to the market growth of Europe include UK, Germany, France, Italy, Spain, and others. Whereas, rapidly evolving healthcare industry across emerging economies of Asia-Pacific such as India, China, Indonesia, and South Korea is likely to augment the market growth of Asia-Pacific.

Global Immuno-Oncology Assay Market Growth, 2019-2025

North America Held the Dominant Market Share in 2018

Increasing prevalence of cancer coupled with surging adoption of targeted therapy and improved healthcare system are boosting the market growth in the region. According to the American Cancer Society in 2017, it was estimated that, out of total 600,920 cancer fatalities in the US, around 190,500 will be caused by cigarette smoking. In addition, it was estimated by the World Cancer Research Fund that 20% of cancers are caused by factors such as physical inactivity, excess body weight, excess alcohol consumption, and poor nutrition. Cancer is usually developed among older people. According to the American Cancer Society in 2017, 87% of all the cancers in the US were diagnosed in older population with age 50 years and above. Moreover, colorectal and cervical cancers can be prevented by screening and by removal of precancerous lesions. Timely screening, reduced the mortality rate significantly for the cancers of colon, breast, and lung.

Market Players Outlook

The global immuno-oncology assay market consists of several players that are operating in the market. Sartorius AG is one of the biopharmaceutical companies that offer researchers with the most innovative portfolio for cell analysis in the industry. The product line of the company includes IncuCyte S3 LiveCell Analysis System and the iQue Screener PLUS, which are solutions for cell analysis that deliver new insights into biological mechanisms at unprecedented speed, depth, and scale. Apart from Sartorius AG, other major players in the market include Thermo Fisher Scientific Inc., PerkinElmer Inc., Illumina Inc., F. Hoffmann La Roche Ltd., and Agilent Technologies Inc. Inorganic growth strategy is one of the major and preferred strategies adopted by these market players.

Recent Developments

• In November 2018, Agilent announced the acquisition of ACEA Biosciences, US-based cutting-edge cell analysis tools developer. This acquisition will help both the companies to focus on real-time, live cell analyzes through their expertise in cellular function and metabolism measurements.
• In October 2018, F. Hoffmann La Roche Ltd. collaborated with SQZ Biotech to develop antigen presenting cells-based immune-oncology treatments.
• In October 2018, Illumina expanded its product portfolio by launching the TruSight Oncology 500 assay, which is used to identify known and emerging tumor biomarkers.
• In September 2018, F. Hoffmann La Roche Ltd. completed the acquisition of Tusk Therapeutics, immuno-oncology treatments developer, for up to $759 million. With this acquisition, the company successfully expanded its oncology pipeline.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annual market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global immuno-oncology assay market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.