Radioimmunoassay is a heterogeneous assay that employs a radiolabelled drug (typically 125I), the competitive binding assay theory that underpins radioimmunoassay. In this method, antigen and antibody bind to one another, and radioimmunoassay is used to determine how much antigen is bound. With the aid of antibodies, this method's hypersensitivity allows it to detect even the tiniest hormone or medication levels.
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The Global Radioimmunoassay Market is expected to reach USD 618.44 million by 2030 from USD 465.85 million in 2023, growing at a CAGR of 4.1% from 2023 to 2030. The rising technological advancement in radioimmunoassay has enhanced the demand for the market. The rising healthcare expenditure for better health services also contributes to the market's growth. The major market players focus on various service launches and approvals during this crucial period. In addition, the increase in improved research and development activities and advanced techniques also contributes to the rising demand for radioimmunoassay.
The rise in technological advancement across the world will drive the market's growth rate
- In 2021, according to an article published in Mol Cell Endocrinol journal, a newly developed and modified radioimmunoassay technique was used for measuring the plasma in the urine of human angiotensin-(1–12). In this technique for the RIA and ligand-binding assays, the tyrosine at the 4th position of the human Ang-(1–12) sequence was radiolabeled with 125I using oxidant chloramine-T and purified on a C18 column by HPLC. Therefore, various technological advancements in radioimmunoassay include the development of several RIA kits. Charm II RIA test is expected to drive the global radioimmunoassay market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Radio Immunoassay Reagents and Kits and Radio Immunoassay Analyser), Application (Scientific Research and Clinical Diagnosis), End User (Hospitals, Clinical Diagnostic Laboratories, Academic and Research Institutes, Pharmaceutical and Biopharmaceutical Industry, Contract Research Organizations, and Other), Distribution Channel (Direct Tender, Online Sales, Third Party Distribution, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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PerkinElmer Inc. (U.S.), Merck KGaA (Germany), Beckman Coulter, Inc. (U.S.), Abcam Plc. (U.K.), Tecan Trading AG (Switzerland), EUROIMMUN Medizinische Labordiagnostika AG (Germany), KAMIYA BIOMEDICAL COMPANY (U.S.), Berthold Technologies GmbH & Co. KG (Germany), Demeditec Diagnostics GmbH (Germany), DiaSource (Belgium), Hidex Oy. (Finland), and IMMUNO-BIOLOGICAL LABORATORIES, INC. (U.S.) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The global radioimmunoassay market is categorized into four notable segments such as product type, application, end user, and distribution channel.
- On the basis of product type, the global radioimmunoassay market is segmented into radio immunoassay reagents and kits and radio immunoassay analyzers. In 2023, the radio immunoassay reagents and kits segment is expected to dominate the global radioimmunoassay market with a 68.10% market share as these product types are utilized in various regions and more advanced technologies are available.
- On the basis of application, the global radioimmunoassay market is segmented into scientific research, clinical diagnosis. In 2023, the scientific research segment is expected to dominate the market with a 75.18% market share as radioimmunoassay is widely used in this application.
- On the basis of end user, the global radioimmunoassay market is segmented into clinical diagnostic laboratories, hospitals, pharmaceutical and biopharmaceutical industry, academic and research institutes, contract research organizations, and others. In 2023, the hospitals segment is expected to dominate the global radioimmunoassay market with a 30.65% market share due to the highly advanced diagnostics used to give precise and accurate results.
The restaurant segment will dominate the end user segment of the radioimmunoassay market
The primary segment will emerge as the dominating segment under end user with approximately 31% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the materials and packaging all around the globe will further bolster the growth of this segment.
- On the basis of distribution channel, the global radioimmunoassay market is segmented into direct tender, online sales, third party distribution, and others. In 2023, the direct tender segment is expected to dominate the global radioimmunoassay market with a 49.15% market share due to the high demand for radioimmunoassay.
The direct tender segment will dominate the distribution channel segment of the radioimmunoassay market
The direct tender segment will emerge as the dominating segment under distribution channel segment. This is because of the growing number of direct tenders in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in market: PerkinElmer Inc. (U.S.), Merck KGaA (Germany), Beckman Coulter, Inc. (U.S.), Abcam Plc. (U.K.), Tecan Trading AG (Switzerland), EUROIMMUN Medizinische Labordiagnostika AG (Germany), KAMIYA BIOMEDICAL COMPANY (U.S.), Berthold Technologies GmbH & Co. KG (Germany), Demeditec Diagnostics GmbH (Germany), DiaSource (Belgium), Hidex Oy. (Finland), and IMMUNO-BIOLOGICAL LABORATORIES, INC. (U.S.).
Market Development
- In July 2021, PerkinElmer, Inc., a global leader committed to innovating for a healthier world, announced four new ready-to-use AlphaLISA KRAS kits designed to help scientists better understand complex KRAS protein structures and mutations so they can more easily, quickly, and precisely identify potential new therapeutic candidates for a wide range of prevalent cancers. Researchers will now be able to choose between PerkinElmer's HTRF or AlphaLISA assays to use the best methods for their labs. This has helped the company to increase its global presence in the market
- In June 2022, EUROIMMUN, a PerkinElmer, Inc. company, announced the launch of two CE-marked assays – the Anti-SARS-CoV-2 RBD ChLIA (IgG) and the Anti-SARS-CoV-2 Omicron ELISA (IgG). Both test systems enable the detection of IgG antibodies formed against SARS-CoV-2 and are available to laboratories in countries that accept the CE mark. This has helped the company to expand its business in the market
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in radioimmunoassay market during the forecast period 2023 to 2030
- In terms of value, North America currently has the world's largest market for immunoassays. The region's large immunoassay market is primarily due to the country's high-end healthcare infrastructure, as well as the availability of immunoassay reimbursement and the high prevalence of chronic disorders.
Asia-Pacific is estimated to be the fastest-growing region in radioimmunoassay market the forecast period 2023 to 2030
During the forecast period, Asia-Pacific is expected to have the highest CAGR. This is due to rising technological advancements in microscopy in that region, as well as increased R&D investments and product launches.
COVID-19 Impact
The healthcare sector was severely impacted during the COVID-19 pandemic due to a halt in services provided by hospitals and healthcare institutions. During the pandemic, however, the demand for diagnostic solutions for the accurate and rapid diagnosis of SARS-CoV-2 infection increased significantly. Serological and radio immunological testing of infected asymptomatic and symptomatic individuals, in particular, was in high demand. As a result, COVID-19 significantly impacted the market's growth. An article titled "Development of a Liquid Phase Radioimmunoassay for the Measurement of Serum Ferritin Levels for the Detection of Covid-19 in Patients" published in the 'Journal of Radioanalytical and Nuclear Chemistry' in February 2022, discussed the development and analytical validation of a radioimmunoassay system for the measurement of the serum ferritin concentration as one of the laboratory biomarkers for infection by COVID-19. Such research focusing on developing the radioimmunoassay for COVID-19 diagnostics aided the market's growth during the pandemic.
For more detailed information about the radioimmunoassay market report, click here – https://www.databridgemarketresearch.com/reports/global-radioimmunoassay-market
