The global Immuno-oncology Clinical Trials market size is expected to be worth around US$ 25.1billion by 2030, according to a new report by Vision Research Reports.
The global Immuno-oncology Clinical Trials market size was valued at US$ 10.3 billion in 2020 and is anticipated to grow at a CAGR of 23.6% during forecast period 2021 to 2030.
Get Sample Copy of This Report@ https://www.visionresearchreports.com/report/sample/38348
Growth Factors
The rapidly growing field of Immuno-oncology has emerged as a novel therapeutic area within the oncology ecosystem, transforming the treatment of cancer. The growth can be attributed to recent developments in immuno-oncology, changes in lifestyle brought on by urbanization predisposing populations to the rise of cancer, and the growing acceptability of targeted therapy.
The number of new immuno-oncology studies increased from 280 to almost 620, with double-digit growth rates each year as drug classes diversified. Biomarker and checkpoint inhibitor studies were primarily responsible for this rapid growth.
Report Highlights
The phase III segment dominated the market with 63.1% of revenue share in 2020. This is largely attributed that Phase III is roughly USD 59,500. Oncology trials also have a lower average number of trials are the most expensive ones and involve huge subjects.
The Phase II trial segment is anticipated to witness the fastest growth rate of 29.8% over the forecast period. It’s also the most expensive stage, placing second after Phase III. This study is split into two parts.
Based on indication, the solid tumor segment led the immuno-oncology clinical trials market and accounted for more than 56.0% of the global revenue share in 2020. The segment is also projected to witness the fastest CAGR of 23.6% during the forecast period. Solid tumors can develop in a variety of tissues, including muscle, bone, and organs. Unmet demand for cancer therapy and increased expenditure on cancer drug research and development are two key factors driving growth. However, the solid tumor treatment market is being held back by issues such as the increasing quantity of generic therapeutic goods, the high cost of cancer therapy, and the growing medication patent cliff.
North America dominated the market and accounted for the largest revenue share of 61.0% in 2020. This growth is attributed to the growing demand for personalized medicine-based novel treatments. In addition, increasing financial support from the government is also propelling the growth of the market in the region.
Asia Pacific is anticipated to register the fastest growth rate of 24.7% throughout the forecast period. An increasing number of biotechnology companies are going to Asia and Australia to conduct immune-oncology clinical studies. Melanoma, lung cancer, bladder cancer, stomach cancer, and esophageal cancer are known to be more responsive to immune-oncology trials.
| Report Coverage | Details |
| Market Size | US$ 25.1 billion by 2030 |
| Growth Rate | CAGR of 23.6% From 2021 to 2030 |
| Base year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Phase, Design, Indication |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | ICON Plc; IQVIA Holdings; Covance; BioNTech; IO Biotech Medical; Medpace; Novartis; Exscientia; Syneous Health; AstraZeneca |
Key Players
Market Segmentation
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/38348 or call: +1 9197 992 333
Vision Research Report, Recently Announced New Report on "Smart Lock market - Global Industry Analysis,…
Vision Research Report, Recently Announced New Report on "2D barcode reader market - Global Industry…
Vision Research Report, Recently Announced New Report on "commercial refrigeration equipment market - Global Industry…
Vision Research Report, Recently Announced New Report on "Restaurant Point-of-Sale Terminal market - Global Industry…
Vision Research Report, Recently Announced New Report on "vacuum cleaner market- Global Industry Analysis, Market…
Vision Research Report, Recently Announced New Report on "household refrigerators and freezers market - Global…