Increase R&D activities for cancer treatment, surge in usage of personalized medicines across the globe drive the growth of global immuno-oncology assay market

PORTLAND, OREGON, US, November 30, 2021 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Immuno-oncology Assay Market: Global Opportunity Analysis and Industry Forecast, 2019–2026."According to the report, the global immuno-oncology assay industry was estimated at $2.76 billion in 2018, and is expected to hit $6.17 billion by 2026, registering a CAGR of 10.6% from 2019 to 2026.

Increase in research and development activities for cancer treatment and surge in usage of personalized medicines across the globe drive the growth of the global immuno-oncology assay market. However, high intial investment and shortage of skilled professionals are anticipated to restrain the growth of the market. Furthermore, government initiatives to encourage biotech research is likely to create new growth opportunities during the forecast period.

Access Full Summary: https://www.alliedmarketresearch.com/immuno-oncology-assay-market-A06079

Covid-19 scenario:
• The demand for immuno-oncology assay is expected to decline during the Covid-19 pandemic due to reduction in testing rates and postponement of cancer diagnosis.
• The repurposing of lab resources toward providing Covid-19 testing has impacted the ability of labs involved in oncology testing, due to which, the testing rate has been declined.
• According to Diacuetics, newly diagnosed colorectal cancer, breast cancer, and lung cancer patients has been dropped by 14.0%, 8.4% and 31.0% during Covid-19 pandemic. Owing to this reduction in patients, the demand for immuno-oncology assay is expected to roll down.

The report offers a detailed segmentation of the global immuno-oncology assay market based on product, technology, application, indication, and region.

Based on product, the consumables segment contributed to the largest share in 2018, accounting for nearly three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the software segment is estimated to portray the highest CAGR of 11.8% during the forecast period.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/6444

Based on indication, the lung cancer segment accounted for the largest share in 2018, holding more than one-fifth of the total share, and is expected to maintain the largest share throughout the forecast period. However, the colorectal cancer segment is expected to register the highest CAGR of 12.3% from 2019 to 2026.

Based on region, North America contributed the highest share, accounting for more than two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 12.9% from 2019 to 2026.

Leading market players analyzed in the research include Thermo Fisher Scientific Inc., Luminex Corporation, Bio-Rad Laboratories Inc., Illumina Inc., QIAGEN N.V., Abcam PLC, Becton, Dickinson and Company, Meso Scale Diagnostics LLC, Seegene Inc., and Randox Laboratories Ltd.

Similar Reports:

Minimally Invasive Surgical Instruments Market
Nurse Call Systems Market
Radiotherapy Market

About Us:

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
Allied Analytics LLP
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.