The global immuno-oncology clinical trials market size is expected to reach USD 18.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.1% from 2024 to 2030. The rapidly growing field of Immuno-oncology has emerged as a novel therapeutic area within the oncology ecosystem, transforming the treatment of cancer. From 2014 to 2017, the number of new immuno-oncology studies increased from 250 to almost 600, with double-digit growth rates each year as drug classes diversified.
Immuno-oncology Clinical Trials Market Report Highlights
- Phase III dominated the market with the largest share of 53.2% in 2023. Oncology trials typically have fewer participants, are the most expensive, and involve larger sample sizes, resulting in a higher cost per participant.
- The interventional experiments accounted for more than 78.5% of the market share in 2023
- The segment of solid tumors held 55.9% of the revenue share in 2023. This is largely attributed to the rise in the prevalence of solid tumors
- North America dominated the market and accounted for the largest revenue share of 50.3% in 2020. This is due to the rising adoption of personalized medicine-focused novel treatment methods, as well as the government funding and investments
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Biomarker and checkpoint inhibitor studies were primarily responsible for this rapid growth. While the immuno-oncology market is maturing in some pharmacological classes, cell therapies are exceeding all other immunotherapeutics in terms of growth. In March 2020, there were 1,483 active compounds in the pipeline for cancer cell therapy globally, indicating an increase of 472 from March 2019. The fastest-growing category was chimeric antigen receptor T (CAR-T) cell products (up 77% from 2019 to 2020).
Besides, during the Covid-19 pandemic, the number of IO drugs in development increased from 3,876 in 2019 to 4,720 in 2020, representing a 22% & 233% increase as compared to 2019 & 2017 respectively. After a moderate increase of 15% in 2019 compared to 68% between 2018 and 2017, this 22% increase indicates a return of interest in IO, despite the impact of the COVID-19 pandemic.
List of major companies in Immuno-oncology Clinical Trials Market
- MEDPACE
- Novartis
- Exscientia
- Syneous Health
- AstraZeneca
- IQ BIOTECH
- BioNtech
- IQVIA Holdings
- ICON, Plc
- Covance, Inc.
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We have segmented the global immuno-oncology clinical trials market based on phase, design, indication, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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