Immuno-Oncology Assays is Estimated to Witness High Growth |...

Immuno-Oncology Assays is Estimated to Witness High Growth

Posted 2023-12-29 09:54:40

Market Dynamics:

One of the key drivers for the high growth of the immuno-oncology assays market is the increased adoption of targeted therapies. Targeted therapies focus treatment on specific vulnerabilities within cancer cells while sparing healthy cells. With targeted therapies, immuno-oncology assays are extensively used to identify biomarkers that help determine if a patient will respond to a particular targeted therapy. This allows medical professionals to customize treatment to a patient's needs and achieve better outcomes. Additionally, the rising demand for personalized medicine is also fueling the immuno-oncology assays market as these tests provide crucial genetic and protein expression information required for tailored treatment approaches.

Key Takeaways

The Global Immuno-Oncology Assays Market Demand is expected to witness high growth. 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 8.6% over the forecast period 2023 to 2030.

North America will continue dominating due to well-established healthcare infrastructure and rising cancer incidence. The region accounted for over 40% market share in 2023. Asia Pacific is poised to exhibit fastest growth at a CAGR of over 10% during the forecast period driven by growing medical tourism, rising chronic diseases and improving access to healthcare in developing countries.

Key players operating in the Immuno-Oncology Assays market are AptarGroup, Weener Plastics Group, Bormioli Rocco Pharma, Pacific Packaging Components, PCC Exol, SHL Group, O.Berk Company, Winfield Laboratories, O.Berk, Comar, RPC Group, Alpha Packaging, Pretium Packaging, Silgan Holdings, Origin Pharma Packaging, Vidchem pty ltd, Mold-Rite Plastics, Berry Global, Amcor, Gerresheimer. The market remains highly competitive with leading players focusing on new product launches, partnerships and acquisitions to gain shares.

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