The market for Radioimmunoassay Market is expected to reach US$ XX Mn by 2026.
An immunoassay is a bioanalytical method used to detect or measure specific proteins or other substances through their properties as antigens or antibodies. A radioimmunoassay (RIA) is an immunoassay that uses an antigen labeled with a radioisotope and measures the subsequent radioactivity of the antibody component in order to detect the antigen-antibody complex. RIA is gaining noteworthy significance in medical diagnostics owing to its high precision, accuracy, specificity of results, and sensitivity. RIA kits are used to perform in vitro assays and procedures, whereas a radioimmunoassay analyzer is a device used to run immunoassay tests in order to detect the presence and concentration of substances in the samples.
The use of the radioimmunoassay technique in medical research to find small molecules in the blood and in the clinical diagnosis of cancer, autoimmune diseases, infectious diseases, endocrine disorders, and allergic diseases is majorly driving the growth of the radioimmunoassay market. Technological advances in RIA products, coupled with the rising adoption of RIA in clinical laboratories, pharmaceutical industries, and research institutes, are fostering the market's growing rapidly. Moreover, rapid developments in medical research and increased spending on research and development in the healthcare sector will support market growth in the near future. On the contrary, the presence of alternatives to RIA, such as ELISA (enzyme-linked immunosorbent assay), chemiluminescent immunoassay (CLIA), and immunofluorescence assay (IFA), is anticipated to hinder the market's growth over the forecast period.
The reagents and kits segment is expected to dominate the market during the forecast period owing to their limited durability and frequent purchase or use. The clinical diagnosis segment is likely to register a lucrative CAGR over the forecast period owing to the rising worldwide prevalence of cancer, autoimmune diseases, infectious diseases, endocrine disorders, and allergic diseases. On the basis of end users, the medical laboratories segment is anticipated to exhibit profitable market growth over the next nine years, which is attributed to the rising demand to perform diagnostic procedures.
Europe is likely to hold a major chunk of the market due to the higher adoption of the radioimmunoassay technique in medical laboratories, pharmaceutical companies, and research institutes, coupled with flourishing pharmaceutical industries in the U.K., Germany, France, Italy, and Spain. Asia Pacific will experience the fastest market growth, owing to a growing geriatric population and rising cancer incidence, as well as propelled demand for RAI in China and India.
Global Radioimmunoassay Market, by Product, 2016–2026 (US$ Mn)
Global Radioimmunoassay Market, by Application, 2016–2026 (US$ Mn)
Global Radioimmunoassay Market, by End User, 2016–2026 (US$ Mn)
Global Radioimmunoassay Market by Geography (US$ Mn), 2016-2026
The market for Radioimmunoassay Market is expected to reach US$ XX Mn by 2026.
The Radioimmunoassay Market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
PerkinElmer Inc., Beckman Coulter, Inc., SA DIAsource ImmunoAssays, Euro Diagnostica AB, Berthold Technologies GmbH & Co. KG are some of the major players in the global market.