Immuno-oncology Clinical Trials Market Size To Reach $15.1 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, June 29, 2021 /PRNewswire/ -- The global immuno-oncology clinical trials market size is expected to reach USD 15.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.6% from 2021 to 2028. The rapidly growing field of Immuno-oncology has emerged as a novel therapeutic area within the oncology ecosystem, transforming the treatment of cancer.

Key Insights & Findings:

• Phase III dominated the market with the largest share of 53.2% in 2020. In 2019, 29.0% of Phase III drugs have a higher-than-average chance of approval, up from 24.2% in 2018
• The interventional experiments accounted for more than 78.6% of the market share in 2020
• The segment of solid tumors held 56.0% of the revenue share in 2020. 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 51.0% in 2020. This is due to the rising adoption of personalized medicine-focused novel treatment methods, as well as the government funding and investments
• Asia Pacific is expected to register the fastest growth rate of 14.7% over the forecast period. At the end of 2019, over 40.0% of current immuno-oncology clinical experiments involved at least one location in the region

Read 100 page market research report, "Immuno-oncology Clinical Trials Market Size, Share & Trends Analysis Report By Phase (Phase I, Phase II, Phase III, Phase IV), By Design (Interventional Trials, Observational Trials), By Indication, By Region, And Segment Forecasts, 2021 - 2028", By Grand View Research.

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. 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.

Grand View Research has segmented the global immuno-oncology clinical trials market based on phase, design, indication, and region:

• Immuno-oncology Clinical Trials Phase Outlook (Revenue, USD Million, 2016 - 2028)
• Phase I
• Phase II
• Phase III
• Phase IV
• Immuno-oncology Clinical Trials Design Outlook (Revenue, USD Million, 2016 - 2028)
• Interventional trials
• Observational trials
• Expanded access trials
• Immuno-oncology Clinical Trials Indication Outlook (Revenue, USD Million, 2016 - 2028)
• Solid tumors
• Hematological cancer
• Immuno-oncology Clinical Trials Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Thailand
• Singapore
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Immuno-oncology Clinical Trials Market

• Medpace
• Novartis
• Exscientia
• Syneous Health
• AstraZeneca

Check out more studies related to Clinical Trials, by Grand View Research:

• COVID-19 Clinical Trials Market – Global COVID-19 clinical trials market size is valued at 5.0 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2027.
• Virtual Clinical Trials Market – Global virtual clinical trials market size was estimated at USD 7.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028.
• Oncology Clinical Trials Market – Global oncology clinical trials market size was valued at 10.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2020 to 2027.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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