RADIOIMMUNOASSAY MARKET ANALYSIS

Radioimmunoassay (RIA) is one of the most frequently used in-vitro assay techniques to measure the concentration of antigens in blood. The principle on which radioimmunoassay based on competitive binding assay. In this technique, antibody and antigen bind to one another and the amount of bound antigen is measured using radioimmunoassay. This method is hypersensitive in nature and can measure even the smallest amount of hormone or drug level with the help of antibodies. Immunoassays play a significant role in the analysis of various clinical laboratory analytes such as nucleic acid, hormones, proteins, and drugs. The development of assays with much more sensitivity will lead to the discovery of new biomarkers for diagnosis of diseases. Over the years, the importance of radioimmunoassay in the field of medical diagnostics has increased due to various factors such as specificity of results, accuracy, sensitivity, and precision. The three main factors involved in radioimmunoassay include bound antigen, a radio labelled antigen, and a pure antigen, along with a separation unit to estimate the delivery of radioactivity in free and bound antigens. Radioimmunoassay methods are used in several fields of disease diagnosis such as in early detection and diagnosis of cancer, other chronic diseases, and diagnosis of neurodegenerative disorders. In biotechnology and pharmaceutical industry, radioimmunoassay is used for drug testing.

Radioimmunoassay Market – Dynamics

Radioimmunoassay market is projected to witness significant growth over the forecast period, owing to rising prevalence of various infectious diseases and cancer. For instance, according to the 2018 American Cancer Society report, cancer was responsible for around 609,640 cancer deaths in the U.S. Moreover, the use of radioimmunoassay procedures in pharmaceutical industries, contract research organizations, and research centers is expected to drive growth of the radioimmunoassay market size over the forecast period. Furthermore, increasing demand for healthcare automation and high throughput procedures in diagnostic labs and research centers to ensure satisfaction of customers and patients with error free results are other factors that are expected to drive growth of radioimmunoassay market over the forecast period. 

However, high cost of equipment required for procedures and hazardous radioactive material in the assay are factors that are expected to hamper growth of the global radioimmunoassay market.

Radioimmunoassay Market – Regional Insights

On the basis of region, radioimmunoassay market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America holds dominant position in the market, owing to rising adoption of technologically advanced devices, awareness among the people, high infection rates, better medical facilities, and rising adoption of innovative products. Moreover, government support towards the infection-free states is also increasing growth of radioimmunoassay market. For instance, according to 2015 National Ambulatory Medical Care survey, 16.8 million number of visits to physician offices for infectious and parasitic diseases were recorded.

Asia Pacific is expected to witness significant growth in the market over the forecast period, owing to large number of population vulnerable to various chronic diseases and increasing 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.

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 towards 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.A acquired Quest Diagnostics’ immunoassay products and molecular diagnostics business for US$ 300 million.  

Radioimmunoassay Market – Taxonomy

On the basis of product type, the global radioimmunoassay market is segmented into:

• Kits and Reagents
• Analyzers

On the basis of application, the global radioimmunoassay market is segmented into:

• Scientific Research
• Medical Diagnosis

On the basis of end user, the global radioimmunoassay market is segmented into:

• Academic Research Institute
• Contract Research Organizations
• Hospitals
• Pharmaceutical and Biotechnology Industry

On the basis of geography, the global radioimmunoassay market is segmented into:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa