The Global Radioimmunoassay Market was worth USD 369 million in 2016 and estimated to be growing at a CAGR of 3.52%, to reach USD 438.68 million by 2021. Radioimmunoassay (RIA) is an in-vitro assay technique that is used to measure the concentration of antigens in the blood. RIA encompasses the separation of protein from a mixture by using the specificity of antibody-antigen binding and their quantitation by using radioactivity.
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Radioimmunoassay is used primarily in the healthcare industry due to its high sensitivity, which can be used to analyze nanomolar and picomolar concentrations of hormones in biological fluids. RIA has ever since becoming one of the major tools in various clinical laboratories for diagnostic procedures, such as assessing the plasma levels of most of the hormones, identifying the presence of certain abused drugs, checking for the presence of hepatitis B surface antigen in donated blood, and other similar applications. This technique has also proven to be useful in the early detection of cancer, treatment of peptic ulcers, research with neurotransmitters, detection of infections, and identification of allergens in food and house dust, and more applications for the same are being researched all the time.
The major factors affecting the Global Radioimmunoassay Market include the high investment, the increasing emphasis on R&D in the sector, technological advancements, their increased usage in pharmaceutical industries, research, rising need for quality and error-free diagnosis and consumer awareness. However, in spite of the drivers, the market remains restrained by the high costs associated with its usage, and the stern regulatory restriction and expertise required for the analysis.
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The Global Radioimmunoassay Market is broadly classified into Reagents and Kits Market and Analysers Market based on type. Based on End User into Hospital, Pharmaceutical Industry and CRO, Academics and Clinical Diagnostic Laboratories and on the basis of Application into Research and Clinical Diagnostics. Based on geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. The Radioimmunoassay Market is dominated by North America in 2016 with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another promising region for the market in Latin America, which is expected to show high growth rates in coming years.
The Global Radioimmunoassay Market is highly competitive with a large number of players. Key market players dominating the market with their products and services are:
1) DIA source Immuno Assays SA
2) Beckman Coulter Inc
3) IBL International
4) PerkinElmer Inc
5) DRG International Inc
6) MP Biomedicals LLC
7) Cisbio
8) Euro Diagnostica AB
9) DiaSorin S.p.A
10) EMD Millipore
11) Izotop
12) Berthold Technologies GmbH & Co. KG
13) Stratec Biomedical AG.
Market Segmentation:
1) Type
2) End User
3) Application
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- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
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- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
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