Freenome, a private biotech company, announced in May 2023 that it acquired Oncimmune Ltd, a developer of immunodiagnostics in the United Kingdom. Oncimmune specializes in designing novel diagnostic methods employing the immune system for the identification of cancer in the early stages. Freenome, by acquiring Oncimmune in a strategic deal, could possibly leverage the strong clinical and commercial capabilities along with immunodiagnostics know-how of Oncimmune to power its lead cancer screening capability. The transaction is anticipated to spur Freenome's R&D of liquid biopsy technology, capitalizing on its pipeline of technologies to detect cancer in its earliest and most curable stages. The transaction represents a major milestone in Freenome's pursuit of transforming early cancer detection and enhancing patient outcomes worldwide.
In June 2023, DiaSorin, a global diagnostic solution provider, introduced its new LIAISON B·R·A·H·M·S MR-proADM immunodiagnostic assay to all countries accepting the CE Mark. The MR-proADM assay is for measuring the proadrenomedullin (MR-proADM) biomarker, which is critical to determining the severity of an extensive array of diseases such as sepsis, heart failure, and acute respiratory distress syndrome (ARDS). This launch enables healthcare professionals to utilize the assay for early, more accurate diagnosis of such essential diseases, leading to enhanced clinical decision-making and treatment. The CE Mark certification makes it possible to sell the assay in European Union countries and other jurisdictions that recognize the certification, marking DiaSorin as an essential player in enhancing patient care through early diagnosis and timely interventions.
The radioimmunoassay industry will grow strongly in the forecast period due to a number of factors. Increased incidence of infectious diseases and cancer is one of the major drivers. Also, the growing need for healthcare automation and high-throughput processes in diagnostic laboratories and research institutions is likely to drive market growth. These developments are intended to provide error-free results and improve patient satisfaction.
Geographically, the Asia Pacific region is expected to experience high growth in the RIA industry. This is due to a high population exposed to numerous chronic diseases and rising healthcare research activities.
Radioimmunoassay industry is set to experience significant growth, fueled by the rising incidence of chronic conditions, improved healthcare automation, and heightened demand for early and precise diagnostic devices. Overcoming challenges associated with equipment expenses and safety issues will be vital in maintaining this growth pattern.
