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.
The global radioimmunoassay market is segmented on the following basis:
Global Radioimmunoassay Market, by Product, 2016–2026 (US$ Mn)
- Reagents and Kits
Global Radioimmunoassay Market, by Application, 2016–2026 (US$ Mn)
- Medical Research
- Clinical Diagnosis
Global Radioimmunoassay Market, by End User, 2016–2026 (US$ Mn)
- Pharmaceutical Companies
- Academic Research Institutes
- Medical Laboratories
Global Radioimmunoassay Market by Geography (US$ Mn), 2016-2026
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified in the global radioimmunoassay market include:
- PerkinElmer Inc.
- Beckman Coulter, Inc.
- SA DIAsource ImmunoAssays
- Euro Diagnostica AB
- Merck KGaA
- MP Biomedicals, LLC
- DiaSorin S.p.A.
- Berthold Technologies GmbH & Co. KG
- DRG International, Inc.
- Stratec Biomedical AG
This report offers the following:
- comprehensive overview of the global radioimmunoassay market, including the current and future market dynamics
- Elucidation of each market segment based on product approvals, launches, and current and anticipated market dynamics
- Company profiles and competitive landscape of market leaders operating in the radioimmunoassay market, comprising key products, operating business areas, financial analysis, and recent strategic developments