The North American Radioimmunoassay Market size was valued at USD 146.93 million in 2022 and is estimated to be growing at a CAGR of 3.22% to reach USD 172.16 million by 2027.
A Radioimmunoassay (RIA) is an in-vitro assay technique for measuring antigen concentrations in blood. The separation of protein from a mixture utilizing the specificity of antibody-antigen binding and quantifying protein using radioactivity is referred to as RIA. With antibodies, the approach is hypersensitive and can quantify minute amounts of hormone or medication levels.
The increased prevalence and incidence of cancer and infectious diseases and technological improvements are majorly driving the expansion of the radioimmunoassay market in the North American region. Due to the increasing cancer burden in North America, cancer tests must be updated to reflect national priorities.
Due to the pervasiveness of several pharmaceuticals and biotechnology firms, the North American radioimmunoassay (RIA) reagents and devices sector is governed by a U.S. province. At the same time, the rising need for early diagnostic procedures is expected to accelerate the radioimmunoassay market in North America. Furthermore, increased research and development to find a cure for infectious diseases and epidemic outbreaks and rising spending on healthcare infrastructure boosts the market growth.
However, the high cost of radioimmunoassay equipment and dangerous radioactive material, and ongoing advances in many other immunoassay processes are expected to stifle market expansion during the forecast period. Strict guidelines and regulatory standards for procedures, as well as a hefty setup cost, are market restraints. In addition, the market is expected to be constrained by a scarcity of skilled professionals. North American countries have endured and continue to suffer a significant economic and healthcare burden due to the high transmission rate and lack of treatment. Lack of information about innovations and radioimmunoassay in remote locations and the effectiveness of radioimmunoassay reagents and devices in diagnosing complicated illnesses are a few of the restraints to the market growth.
This research report on the North America radioimmunoassay market has been segmented and sub-segmented into the following categories:
By End User:
Geographically, the North American region is currently the largest market for immunoassays in the world. Factors such as the availability of high-end healthcare infrastructure, the availability of immunoassay reimbursement, and the high prevalence of chronic illnesses are favorable factors to the market in this region.
The United States, followed by Canada, is expected to occupy the leading share in the North American radioimmunoassay market during the forecast period.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the North America radioimmunoassay market profiled in this 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 and Stratec Biomedical AG.
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