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Global Radioimmunoassay Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Type, End-User, Application & Region – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 3555
Pages: 175
Formats: report pdf report excel report power bi report ppt

RIA Market Size (2022 to 2027)

The global radioimmunoassay market size is forecasted to grow USD 486.65 million by 2027 from USD 409.35 million in 2022, growing at a CAGR of 3.52% during the forecast period.

Radioimmunoassay is a process used to measure specific proteins or any other substances through agents or antibodies.

Radioimmunoassay is essential in the medical field attributed to high quality, correct, relating individual results, and sensitivity. Radioimmunoassay analyzer is a device that helps to run the tests to examine the existence and focus on the substances in the samples present. Radioimmunoassay includes three levels of factors like a pure antigen, radiolabelled antigen, and an antibody. Advance technologies in clinical trials in a test tube, growing demand for correct and quality results, and more reagents and kits are increasing the market.

MARKET DRIVERS:

The rising prevalence of infectious diseases and growing cancer cases worldwide are principally driving the global radioimmunoassay market growth.

Coronavirus, malaria, HIV/AIDS, and influenza are some of the most common infectious diseases. Worldwide, countries like Brazil, the United States, EU5, and China had most of the population diagnosed with infectious diseases in 2019. Furthermore, as per the World Health Organization, cancer is the 2nd most dangerous disease giving more deaths, and there were around 9.8 million deaths due to cancer in 2018.

The rise in the concern towards health and diagnosing various infections in the human body drives the market growth. Further, the market's development increases the number of blood donation camps and the need to determine infections in the blood. In addition, stringent rules and regulations regarding people's health safety set up growth opportunities for the radioimmunoassay market. Increasing awareness overutilization of this technique in various applications and the rise in the demand for point of care testing are also fuelling the market's growth.

MARKET RESTRAINTS:

However, the lack of skilled personnel in monitoring the systems and understanding the reports degrades market demand. In addition, the cost of installing and maintaining the devices is a little high, and this attribute impedes the growth of the market.

Impact of COVID-19 on the global radioimmunoassay market:

As the COVID-19 pandemic continues to unfold, the urgent need for accurate and quick detection of SARS-CoV-2 infection remains crucial. Serological and radio immunological testing of infected asymptomatic and symptomatic people will be in great demand, in particular. As a result, COVID-19 is expected to have a significant influence on the market. Due to the outbreak of the COVID-19 pandemic, the radioimmunoassay market is expected to expand at a significant rate since these tests are widely utilized for quick detection of this virus and are critically needed for the early identification of infected patients. As the situation has gotten more serious, immunoassay is likely to play a more important role as the urgency and complexity of the present COVID-19 scenario grows. Testing for SARS-CoV-2 is not the only requirement in the care of COVID-19 patients; quick, accurate screening and monitoring for a range of health problems that may develop as a result of COVID-19 disease management are also required.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Analysed

By Type, End-User, Application, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Analysed

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa

 

This research report on the global radioimmunoassay market has been segmented and sub-segmented based on type, end-user, application, and region.

Radioimmunoassay Market – By Type:

  • Reagents and Kits               
  • Analyzers 

Based on type, the reagents and kits segment is forecasted to lead the global radioimmunoassay market accounting for a significant share during the forecast period due to their durability and frequent purchase or usage, increasing support from the government.

Radioimmunoassay Market – By End User

  • Hospitals
  • Pharmaceutical Industry and CRO 
  • Clinical Diagnostic Laboratories       

Based on the end-user, over the forecast period, the Pharmaceutical Industries segment is expected to grow rapidly. In the drug development and pharmaceutical industries, immunoassays are widely utilized in many critical areas of pharmaceutical analysis, including illness diagnostics, therapeutic medication monitoring, clinical pharmacokinetics, and bioequivalence investigations.

Because of the growing prevalence of cancer, autoimmune illnesses, infectious diseases, endocrine disorders, and allergy diseases worldwide, the clinical diagnosis laboratory segment is expected to grow at a healthy CAGR in the coming years.

Radioimmunoassay Market – By Application:

  • Research 
  • Clinical Diagnostics

Based on the application, the clinical diagnostic segment is likely to dominate the global RIA market from 2021 to 2026. RIA (Radioimmunoassay) has become one of the most widely used diagnostic techniques in clinical laboratories, with applications including determining the plasma levels of most hormones, detecting some abused substances, determining the presence of hepatitis B surface antigen in donated blood, and more.

Radioimmunoassay Market – By Region:

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

Geographically, the North American market is currently the leading regional market in the global RIA market. Increasing demand for early diagnosis procedures is gearing up the need of the market to the extent. In terms of market share, North America is now the largest market for radioimmunoassay in the world. The huge size of the immunoassay market in the area is mostly attributable to the country's high-end healthcare infrastructure, immunoassay reimbursement availability, and the high incidence of chronic diseases. Furthermore, one of the primary reasons driving the regional market is the increasing investment in R&D by government agencies and pharmaceutical companies for early diagnosis and treatment. North American countries have experienced and continue to suffer a huge economic and healthcare burden due to the high transmission rate and lack of treatment. Hospitals and diagnostic centers, for example, have made significant investments in ensuring the availability of critical equipment and medications.

Europe is following North America in holding the most significant shares in the global RIA market. The growing number of campaigns, especially in rural areas, and the rise in the scale of blood banks are gearing up the growth rate of the European market. Additionally, due to an increase in radioimmunoassay products in research laboratories, pharma companies, and other laboratories and rising pharmaceutical and biotechnological companies in Europe, primarily in the United Kingdom, Germany, France and Spain, Europe was the second-largest market for radioimmunoassay. The European Greens play an important role in ensuring environmental responsibility in different parts of the continent. The use of radioactive materials in RIA processes is hazardous to the environment and human health. As a result of the European Greens' deliberate attempt to replace RIA tests, the current situation has had a detrimental influence on their use in Europe.

Asia pacific is to have the highest growth rate in the coming years by adopting advanced technologies and various products. Furthermore, due to rapidly expanding healthcare infrastructure, increased spending by pharmaceutical companies on research and development to develop new molecules and capture a larger market share in this growth potential market, government initiatives, and increasing population awareness. With the growing medical tourism industry in developing countries, Asia Pacific is expected to have the fastest growth.

On the other hand, the Middle East and Africa are esteemed to have slight variations in the growth rate shortly.

KEY MARKET PLAYERS:

Companies dominating the global 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 and Stratec Biomedical AG.

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