Radioimmunoassay Market Size, Share, Outlook, and Opportunity Analysis 2018-2026
Seattle, WA -- (SBWIRE) -- 11/08/2019 -- Radioimmunoassay (RIA) is an in-vitro technology which is widely used to determine the concentration of antigens in the blood and it is based on competitive binding assay. This technique is also useful for determining the smallest amount of hormone or drug level by using antibodies. It plays a very significant role in the study of various clinical laboratory analytes such as nucleic acid, hormones, proteins, and drugs. Moreover, it is also used for the discovery of new biomarkers for the diagnosis of disease. Radioimmunoassay is gaining traction in the market because of its advantages such as the specificity of results, accuracy, sensitivity, and precision. Bound antigen, a radiolabeled antigen, and a pure antigen, along with a separation unit to estimate the delivery of radioactivity in free and bound antigens are the three major factors involved in radioimmunoassay. It has application across early detection and diagnosis of cancer, other chronic diseases, diagnosis of neurodegenerative disorders, and drug testing.
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Market – Dynamics
The rising prevalence of various infectious and chronic diseases is the prime factor fueling the market growth of Radioimmunoassay. For instance, according to the 2018 American Cancer Society report, cancer was responsible for around 609,640 cancer deaths in the U.S. Also, the rising application ofradioimmunoassay across pharmaceutical industries, contract research organizations, and research centers is further expected to propel the market growth over the forecast period. Moreover, the growing demand for healthcare automation and advanced diagnostic procedure for the error-free result are also projected to propel the market growth of Radioimmunoassay.
On the other hand, the high cost of equipment required for procedures and hazardous radioactive material in the assay is expected to hamper the growth of the global radioimmunoassay market.
Radioimmunoassay Market – Regional Insights
Based on the region, the radioimmunoassay market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North
America holds a dominant position in the market, and this can be attributed to the rising adoption of technologically advanced devices, awareness among the people, high infection rates, and the presence of advanced medical facilities. Moreover, rising initiatives from the government for introducing advanced therapy for various chronic disease is further expected to propel the market growth. For instance, according to the 2015 National Ambulatory Medical Care Survey, 16.8 million visits to physician offices for infectious and parasitic diseases were recorded.
The Asia Pacific is expected to witness significant growth in the market over the forecast period, because of the presence of a large number of the population vulnerable to various chronic diseases and rising healthcare research activities. For instance, the World Health Organization (WHO) report in 2011 estimates that around 37% of perinatal conditions, 35% of nutritional deficiencies, 33% of maternal conditions, 30% of respiratory infections, and 27% of the global burden of infectious and parasitic diseases are prevalent in this region.
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Radioimmunoassay Market – Competitive Landscape
Key players operating in the global radioimmunoassay market include DRG International, Inc., DIAsource ImmunoAssays, IBL Internationa, MP Biomedicals, Beckman Coulter, Inc., PerkinElmer, Inc., Dia Dorin S.p.A., Cisbi, EMD Millipore, Berthold Technologies GmbH, LLC, Euro Diagnostica, and Izotop. Major players are focused on adopting new strategies such as collaboration and increasing R&D funding to strengthen their product portfolio and retain their position in the market. For instance, in 2016, Italian firm DiaSorin S.p.An acquired Quest Diagnostics' immunoassay products and molecular diagnostics business for US$ 300 million.
Radioimmunoassay Market – Taxonomy
Based on product type, the global radioimmunoassay market is segmented into:
- Kits and Reagents
Based on application, the global radioimmunoassay market is segmented into:
- Scientific Research
- Medical Diagnosis
Based on end-user, the global radioimmunoassay market is segmented into:
- Academic Research Institute
- Contract Research Organizations
- Pharmaceutical & Biotechnology Industry
Based on geography, the global radioimmunoassay market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
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