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Growth Strategies Adopted by Key Players in Global Immuno Oncology Assays Market Title

· Medical Devices
Immuno Oncology Assays Market
Immuno Oncology Assays Market

The global immuno oncology assays market size is expected to grow from USD 2.9 billion in 2018 to USD 5.9 billion by 2024, at a CAGR of 12.7% during the forecast period. Market growth is largely driven by factors such as the increasing adoption of targeted therapy over traditional therapy and the increasing demand for mAbs. On the other hand, the high cost of immunotherapy treatment and the high attrition rate in the product development cycle are expected to limit market growth.

The major immuno-oncology assay vendors include Thermo Fischer Scientific (US), Roche Diagnostics (Switzerland), Agilent Technologies (US), and Illumina (US). These players have adopted various growth strategies such as acquisitions, product launches, agreements, partnerships, collaborations, and expansion to expand their presence in the immuno-oncology assays market.

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Thermo Fisher Scientific holds the leading position in the immuno-oncology assays market. The company has expertise in immune-oncology research and flow cytometry. To maintain and further strengthen its position in the market, the company focuses on organic and inorganic strategies. For instance, in 2018, the company launched three assays, namely, Oncomine TCR Beta-SR Assay, Ion Torrent Oncomine Pan Cancer cell-free assay, and Torrent Oncomine tumor mutation load assay to address the challenges in this market. Moreover, in 2016, Thermo Fisher collaborated with Invivoscribe Technologies to develop NGS-based in vitro diagnostic oncology tests. The company’s extensive R&D activities help it increase the depth of capabilities in technological innovation.

Roche Diagnostics ranked second in this market. The company’s immuno-oncology assay tests are widely adopted by healthcare providers, globally. The company has majorly adopted inorganic strategies to sustain its presence in this market. Roche focuses on collaborations and acquisitions to garner a larger market share. For instance, in 2018, Roche collaborated with SQZ Biotech to develop antigen presenting cells-based immune-oncology treatments. Additionally, in 2018, Roche acquired Tusk Therapeutics to expand its oncology product portfolio.

Illumina, Inc. held the third position in the immuno-oncology assays market. The company offers advanced NGS technology platforms in the market. Illumina invests a significant amount of its revenue on R&D. In 2017, Illumina invested 19.8% of its revenue in R&D. Such significant R&D investments enable the company to develop and launch new products in the market. For instance, in 2018, the company launched its TruSight Oncology 500 assay, which is used to identify known and emerging tumor biomarkers. The company also focuses on strategic collaborations and partnerships with leading players in the market to co-develop advanced technologies and strengthen its research and commercialization capabilities.

Know more:

Immuno Oncology Assays Market by Product (Consumables, Software), Technology (Immunoassay, Flow Cytometry, PCR, Next Generation Sequencing), Indication (Lung Cancer, Colorectal Cancer), Application (Research, Clinical Diagnostics) - Global Forecast to 2024

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