Due to the rising incidence of cancer around the world and the increased attention being paid to the development of cutting-edge cancer therapies, the global market for immuno-oncology assays is expanding rapidly. Additionally, it is anticipated that increased research and development (R&D) activities will accelerate market expansion. The global market for immuno-oncology assays is anticipated to rise, but challenges like a shortage of experienced workers and an unfavourable regulatory and reimbursement environment are predicted to impede its development. Over the projected period, an increase in the cancer burden worldwide is anticipated to promote growth in the market for immuno-oncology assays. The most prevalent malignancies were those of the breast, lung, prostate, colon, and rectum. The need for immuno-oncology assays is then anticipated to rise globally as a result. The study of and creation of cancer therapies that make use of the immune system to combat cancer is known as immuno-oncology. Researchers are creating novel cancer-fighting strategies known as immuno-oncology in the pursuit of targeted cancer treatment. Increased research and development (R&D) activities are anticipated to present companies in the global immuno-oncology assays market with lucrative growth prospects.
The Coherent Market Insights estimates that the market for Immuno-oncology Assays was estimated to be worth US$ 3,718.5 Mn in 2021 and is anticipated to grow at a CAGR of 10.7% from 2022 to 2028 to reach US$ 7,594.6 Mn.
Prominent Players in the Immuno-Oncology Assays Industry:
1. Charles River
The business was established in 1947 and its headquarters are located in Wilmington, Massachusetts, United States. Clinical testing and drug development services are offered by Charles River Laboratories, Inc. The company provides test and development services for vaccines, biosimilars, and medications to treat heart disease, cancer, endocrine disorders, bone disorders, and other conditions. In March 2023, Charles River will introduce ApolloTM, a market-leading, secure, cloud-based platform for data from ongoing toxicological studies. Charles River released a novel IgY-based ELISA kit for the detection and measurement of residual host cell protein in february 2023.