Europe Radioimmunoassay Market Trends and Forecast to 2024 – By Product Type (Kit, Analyzer), By End User (Hospitals, Lab, Others), By Application (Diagnostic, Research) By Country (Germany, France, U.K., Spain, Italy, Russia, Turkey, Switzerland, Belgium, Netherlands, Rest of Europe)
The new market Europe Radio Immunoassay (RIA) Reagents and Devices Market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The system of radio immunoassay (RIA) is advanced and sensitive find small enough to molecules in the blood, and is therefore used for research purposes and diagnosis of diseases, such as cancer. This technique is also applied by organizations and research labs for research purposes using serum from animals or humans. The new range of immunoassay kits and analyzers provide remedies for autoimmune diseases, such as diabetes. These are widely used in the process of drug discovery and screening in blood banks.
With the advancements in immunoassay, novel techniques are now available in this market. Radioimmunoassay is one such important technique that is being used for the diagnosis of several diseases; it is especially used for the early detection of cancer.
Radioimmunoassay (RIA) is one of the crucial and traditional methods used for the testing of endocrinological disorders. RIA also has noticeable usage in the field of neurodegenerative disorders. In spite of the high precision, robust nature, and impeccable sensitivity, the global radioimmunoassay (RIA) market has been witnessing a slow growth in terms of market values and kit volumes. This can be attributed to the paradigm shift in the adoption of alternatives, such as, ELISA, chemiluminescence assay, immunofluorescence assay, & other non-radio techniques and lack of automation.
Handling of RIA kits and tracers require special license, which in itself constitute to be a complicated process. Stringent regulatory approvals are required in order to set up laboratories for conducting RIA procedures. Thus, skilled and expert professionals are required to be hired for performing RIA tests. As a result, the global radioimmunoassay (RIA) market has been witnessing slow growth in the near future.
In Europe, many clinical laboratories are taking measures to remove RIA tests off their shelf; ELISA has been instrumental in taking over the RIA tests. European Greens has been instrumental in maintaining environmental responsibility across geographies. The utilization of radioactive substances in RIA procedures poses a threat to environment and human health. Thus, the political scenario has negatively impacted the use of RIA tests in Europe due to the conscious effort from the European Greens. In spite of the above-mentioned dynamics, Europe captures a major market share in RIA globally. Majority of the RIA manufacturers are based out of Europe, thus claiming a strong footprint in Europe.
Siemens recently discontinued the production of their RIA kits leaving customers to seek replacement products. This event has resulted in opportunity for other RIA players to achieve growth in the RIA market. Companies like IBL International (A Tecan Company) (U.S.), DIAsource Immunoassays SA (Italy), DRG International, Inc. (U.S.), and MP Biomedicals, LLC (U.S.) can leverage upon this opportunity to enhance their profits.
Europe is leading the radioimmunoassay market in the coming years. Over the years, there has been a significant growth in the utilization of radioimmunoassay technique in Europe owing to advancements in the medicalresearch, clinical trials, and pharmaceutical industries. Over the next five years, the growth in the European Radioimmunoassay (RIA) market is expected to be centered at Germany, France, and U.K. The growth in this region is anticipated to be mainly driven by factors, such as increasing number of tests performed, rising adoption rate of advanced techniques, and rising intrinsic demand. The European radioimmunoassay (RIA) market is valued at $123.0 million in 2015. It is projected to grow at a CAGR of 2.1% from 2016 to 2022.
Some of the major players in the radioimmunoassay are IBL International (A Tecan Company), Cisbio, DiaSorin S.P.A., Izotop, Berthold Technologies GmbH & Co. KG, and Stratec Biomedical AG, Euro Diagnostica AB, DIAsourceImmunoAssays SA, PerkinElmer, Inc., among other companies.