Radioimmunoassay Market

Global Radioimmunoassay Market Size (2024 to 2029)

The global radioimmunoassay market size is forecasted to be worth USD 521.43 million by 2029 from USD 438.61 million in 2024, growing at a CAGR of 3.52% during the forecast period.

Radioimmunoassay is used to measure specific proteins or other substances through agents or antibodies. Radioimmunoassay is essential in the medical field attributed to high quality, correct, related individual results, and sensitivity. A radioimmunoassay analyzer is a device that helps run tests to examine the existence and focus on the substances in the samples. Radioimmunoassay includes three factors a pure antigen, a radiolabelled antigen, and an antibody. Advanced 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. 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 with the most deaths, and around 9.8 million deaths were due to cancer in 2018.

The rise in the concern about health and diagnosing various infections in the human body drives the market growth.

Furthermore, an increase in the number of blood donation camps and the need to determine infections in the blood are promoting the growth of the radioimmunoassay market. 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 monitoring the systems and understanding the reports degrades market demand. In addition, the cost of installing and maintaining the devices is a little high, which impedes market growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Radioimmunoassay Market Analysis By Type

The reagents and kits segment dominated the market in 2023 and 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.

Global Radioimmunoassay Market Analysis By End-User

Based on the end-user, the Pharmaceutical Industries segment is expected to grow over the forecast period. 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.

Owing to 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.

Global Radioimmunoassay Market Analysis By Application

The clinical diagnostic segment is likely to dominate the global radioimmunoassay market during the forecast period. 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.

REGIONAL ANALYSIS

Geographically, the North American market is currently the leading regional market in the global Radioimmunoassay Market. Increasing demand for early diagnosis procedures is gearing up the market's growth to the extent. In terms of market share, North America is now the largest market for radioimmunoassay in the world. The massive size of the immunoassay market in the area is primarily 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 substantial 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 Radioimmunoassay 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, increased 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 are essential in ensuring environmental responsibility in different parts of the continent. Using 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 predicted to have the highest growth rate by adopting advanced technologies and various products in the coming years. 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. Furthermore, 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 expected to have slight variations in the growth rate shortly.

KEY PLAYERS IN THE RADIOIMMUNOASSAY MARKET

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.

DETAILED SEGMENTATION OF THE GLOBAL RADIOIMMUNOASSAY MARKET INCLUDED IN THIS REPORT

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

By Type

• Reagents and Kits               
• Analyzers 

By End User

• Hospitals
• Pharmaceutical Industry and CRO 
• Clinical Diagnostic Laboratories       

By Application

• Research 
• Clinical Diagnostics

By Region

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