FMI’s New Report, titled, “Radioimmunoassay Market: Global Industry Analysis and Opportunity Assessment 2016-2026” offers 10-year forecast and analysis.
Valley Cottage, NY -- (SBWIRE) -- 06/03/2016 -- Quantification of a specific protein in a complex sample is a valuable contribution in the field of medical science. Immunoassays use the highly specific antibodies to target specific molecule of interest and analyze its concentration in a sample. Thus, immunoassay can be defined as a biochemical procedure which is used to measure the concentration of specific antigen with a specific antibody. The first immunoassay was developed in 1959 wherein radiolabeled insulin was used to determine the concentration of insulin in human plasma. Radioimmunoassay (RIA) is a medical diagnostic procedure used to measure the concentration of specific antigens by using specific antibodies. RIA is a highly sensitive technique using which any biological substance for which a specific antibody exists can be quantified, in a very minute concentrations. Radioimmunoassay is the first immunoassay technique using which Nano molar and Pico molar concentrations of hormones in biological fluids can be determined. RIA technique relies on a very basic principle of competitive binding where a radioactive antigen competes with non-radioactive antigen for a specific antibody. RIA technique finds application in various areas of disease diagnosis such as it is used in early detection and diagnosis of cancer, it is also used in diagnosis of various other infectious diseases including neurodegenerative disorders. RIA is considered as one of the most pivotal and traditional method used for endocrine disorders diagnosis. In pharmaceutical industry RIA is used for drug testing. The market for RIA is expected to witness a significant growth rate over the forecast period owing to rising use of radioimmunoassay techniques in cancer diagnosis and advancements in medical research.
The global radioimmunoassay market is expected to exhibit a single digit CAGR over the forecast period (2016-2026).
Radioimmunoassay Market: Drivers and Restraints
The global radioimmunoassay market is expected to experience a considerable growth over the forecast period driven by rising prevalence of cancer and various other infectious diseases. The increasing use of RIA procedures in research centers, contract research organizations and pharmaceutical industries is also driving the overall growth of radioimmunoassay market over the forecast period. Furthermore rising demand for high throughput and automated procedures in research centers and diagnostic labs to ensure patients satisfaction in getting error free results are some of the key factors driving the radioimmunoassay market growth over the forecast period.
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Factors responsible for restraining the growth of global radioimmunoassay market include, high cost of the procedure and continuous innovations in various other immunoassay procedures such as ELISA.
Radioimmunoassay Market: Segmentation
Global Radioimmunoassay Marketis segmented on the basis of product, application, end use and geography as following:
Kits and Reagents
By End User
Pharmaceutical and Biotechnology Industry
Academic Research Institute
Contract Research Organizations
Radioimmunoassay Market: Overview
With rising incidence of cancer, endocrine disorders along with various other infectious diseases and increased use of radioimmunoassay procedure in pharmaceutical industry for drug testing, the global radioimmunoassay market is expected to have a robust growth over the forecast period (2016-2026). Other factors driving the growth of radioimmunoassay market include rapid advancements in medical research and increased spending in research and development and life science sector. The use of radioimmunoassay in diagnosing neurodegenerative disorders is also fueling the market growth.
Radioimmunoassay Market: Region- wise Outlook
The global market for radioimmunoassay is expected to register a healthy CAGR during the forecast period. Depending on geographic regions, global Biopsy Device market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East & Africa.
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In terms of region Europe accounts for the largest market shares in global radioimmunoassay market owing to advancements in medical research, clinical trials, growing geriatric population with cancer indication. Also prevalence of various other infectious diseases in the region is expected to drive the radioimmunoassay market growth in the near future. North America holds the second largest share in the global radioimmunoassay market. The market for radioimmunoassay in North America is particularly driven by gradually increasing awareness, rising incidence of cancer patients and adoption of advanced technologies in research sectors. Increased investment by government and nongovernment organizations in establishment of research centers is also expected to drive the growth of radioimmunoassay market in North America. Asia pacific is expected to represent lucrative market growth in the radioimmunoassay market owing to rapidly aging population and rise in application of radioimmunoassay technique in cancer diagnosis.
Radioimmunoassay Market: Key Players
Some of the key market players in global radioimmunoassay market are DIAsource ImmunoAssays, Beckman Coulter, Inc., IBL Internationa, PerkinElmer, Inc, DRG International, Inc., MP Biomedicals, LLC, Cisbi, Euro Diagnostica AB, DiaSorin S.p.A., EMD Millipore, Izotop, Berthold Technologies GmbH.