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Europe Radioimmunoassay Market Research Report – Segmented By Type, End User, Application & Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe) - Industry Analysis on Size, Share, Trends & Growth Forecast (2022 to 2027)

Published: January, 2022
ID: 3557
Pages: 145
Formats: report pdf report excel report power bi report ppt

Europe RIA Market Size (2022 to 2027)

The size of the Europe Radioimmunoassay Market was valued at USD 97.64 million in 2022. It is further projected to be growing at a CAGR of 3.33% and worth USD 115.01 million by 2027.

The increasing prevalence of chronic and infectious diseases is primarily driving the radioimmunoassay market in the European region. The assay's accuracy and sensitivity are determined mainly by the quality of antigens and antibodies used, as well as the separation procedures used. In addition, the in-vitro process of the assay is carried out using radioimmunoassay kits.

Governments and private organizations across the region are taking initiatives and investing in the healthcare sector to develop infrastructure, research, and development activities. Central laboratory tests and point of care tests are encouraging market growth. In addition, according to Commonwealth Fund statistics released in January 2019, heart disease is one of the significant causes of mortality in Germany, accounting for about 38 percent of all deaths. 

On the other hand, increasing government initiatives help develop tools such as immunoassay analyzers, which are expected to provide lucrative growth opportunities to the market growth. Furthermore, technological advancements in the healthcare sector, increasing adoption of automated immunoassay analyzers, and growing healthcare spending are surging the market growth. In addition, the emergence of the covid-19 pandemic has led the radioimmunoassay market. As a result, the consumption of immunoassays has been significantly increased during the pandemic period. This has created lucrative opportunities for companies to produce innovative and advanced analyzers. 

However, factors such as the short shelf life of radiolabelled substances, the presence of hazardous, radioactive elements in the assay, and the disposal of radioactive waste are hampering the growth rate of the European radioimmunoassay market.

This research report on the European radioimmunoassay market has been segmented and sub-segmented into the following categories:

By Type: 

  • Reagents and Kits
  • Analyzers

By End User: 

  • Hospitals
  • Pharmaceutical Industry and CRO
  • Clinical Diagnostic Laboratories

By Application: 

  • Research
  • Clinical Diagnostics

By Country: 

  • UK
  • France
  • Spain
  • Germany
  • Italy
  • Russia
  • Sweden
  • Denmark
  • Switzerland
  • Netherlands
  • Turkey
  • Czech Republic
  • Rest of Europe

Based on the region, the European region has the second-highest market share globally, only behind the likes of North America, albeit with a low CAGR rate. The low growth rate of the region can be attributed to the fact that most countries in the region are at their pinnacle of development, and the room to grow is fast decreasing.

The European market accounted for a substantial share in the global radioimmunoassay market in 2020, and it is anticipated to continue its dominance throughout the forecast period. The regional market growth is attributed to the presence of well-established healthcare infrastructure, the presence of key market companies, and favorable reimbursement policies. In addition, the European radioimmunoassay market growth is expanded by emerging countries such as Germany, the UK, France, Italy, and Spain. 

Germany accounted for the largest share of the radioimmunoassay market, likely to witness a significant share during the forecast period. The market growth is driven by the increasing incidence of cancer, Growing awareness, and Urbanization with a heavy population. Also, the Presence of CROs and pharmaceutical industries, technological advancements in the healthcare sector, and the increasing focus of key market players on developing new products are accelerating the market growth. Germany accounts for the high percentage of diabetes in Europe. According to the International Diabetes Federation, around 15.3 percent of adults in Germany,

Similarly, the UK is expected to register a promising share in the radioimmunoassay market in the coming years due to the growing geriatric population and the rising need for quality and error-free results to ensure patient satisfaction and high healthcare spending. 

Furthermore, the other emerging countries such as Italy, Spain, and France are expected to witness a considerable share during the forecast period. In addition, a significant increase in research and development activities by the pharmaceutical and biopharmaceutical industries, the rising number of blood donations in blood banks, and continuous technological advancements contribute to the radioimmunoassay market.

KEY MARKET PLAYERS:

A few of the prominent companies operating in the Europe radioimmunoassay market profiled in the report are DIAsource Immunoassays SA, Beckman Coulter, IBL International, PerkinElmer, DRG International, MP Biomedicals LLC, Cisbio, Euro Diagnostica AB, DiaSorin S.p.A, EMD Millipore, Izotop, Berthold Technologies GmbH & Co. KG, Stratec Biomedical AG.

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