Radioimmunoassay Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 3.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Radioimmunoassay Market Analysis
The radioimmunoassay market size is expected to grow from USD 525.82 million in 2023 to USD 624.51 million by 2028, registering a CAGR of 3.5% during the forecast period.
During the COVID-19 pandemic, the healthcare sector was significantly affected due to the halt in the services provided across hospitals and healthcare institutions. However, during the pandemic, there was a marked increase in the demand for diagnostic tools for the precise and quick diagnosis of SARS-CoV-2 infection. In particular, serological and radioimmunological testing of infected asymptomatic and symptomatic individuals was in high demand. Thus, COVID-19 profoundly impacted the growth of the market studied. An article published in the Journal of Radioanalytical and Nuclear Chemistry in February 2022 discussed the development and analytical validation of a radioimmunoassay system for measuring the serum ferritin concentration as one of the laboratory biomarkers for infection by COVID-19. Such studies focused on developing the radioimmunoassay for COVID-19 diagnostics and are still going on, which helps in the market's growth over the forecast period.
The major factors driving the market growth include the rising prevalence and incidence of cancer and infectious diseases and technological advancements. The global cancer burden is increasing; thus, cancer assays must be modified according to regional and national priorities. As per the WHO Key Facts on Cancer published in February 2022, around 400,000 children worldwide develop cancer yearly. In addition, the rising number of people affected by infectious diseases is also aiding market growth. Similarly, the WHO, in its July 2022 key facts on HIV, estimated that around 38.4 million people around the world were to be affected by HIV by the end of the year 2021, with around 1.5 million new cases being registered in 2021 alone. This shows the increasing burden of cancers and infections, which raises the demand for effective diagnostics like radioimmunoassay and is expected to drive the market over the study period.
The increasing adoption of radioimmunoassay analyzers in clinical diagnostics is likely to propel market growth. For instance, in June 2021, an article published in the Journal of Molecular and Cellular Endocrinology discussed a reliable and specific radioimmunoassay (RIA) method for the measurement of Ang-(1-12) in human plasma and urine using an affinity-purified antibody fraction directed towards the C-terminus of the human Ang-(1-12) sequence. This study helped the advancement of the clinical viability of Ang-(1-12) as a cardiovascular disease biomarker. The discovery of such radioimmunoassay kits is expected to boost the growth of the studied market over the forecast period.
However, the high cost of equipment required for radioimmunoassay and hazardous, radioactive material and continuous innovations in various other immunoassay procedures will likely hinder the market growth over the forecast period.
Radioimmunoassay Market Trends
Clinical Diagnostic Laboratories Segment is Expected to Register a High Growth Rate Over the Forecast Period
Radioimmunoassay has been widely used in many important areas of clinical diagnostic laboratories, such as diagnosing diseases and forming immune complexes. The importance and widespread of radioimmunoassay methods in clinical diagnostic laboratories are attributed to their inherent specificity, high throughput, and high sensitivity for analyzing a wide range of analytes in biological samples.
The radioimmunoassay market is anticipated to grow considerably due to rising chronic diseases and infections and new studies in the radioimmunoassays that help expand the indications of procedures. For instance, as per the report published by Oxford Academic Sleep Journal in July 2022, the most sensitive and specific investigative method for the diagnosis of narcolepsy type 1 (NT1) is the determination of hypocretin-1 (orexin-A) deficiency (110 pg/mL) in cerebrospinal fluid using a radioimmunoassay (RIA). Thus, effective radioimmunoassay results in various disease diagnoses and is expected to drive the market through this segment.
Furthermore, the new regulations under in vitro diagnostics by the governments help to use products without interruption. For instance, in June 2022, EUROIMMUN declared the new EU In Vitro Diagnostics Regulation 2017/746 (IVDR) compliance for risk class A products, which include radioimmunoassay. By independently conducting the IVDR conformity evaluation of class A products, EUROIMMUN has achieved a significant IVDR transitional milestone. This guarantees that laboratories in the EU can use these goods continuously once the rule takes effect, which is expected to grow the market through the clinical diagnostic laboratory segment.
North America is Expected to Have Significant Growth in the Market Over the Forecast Period
North America is currently the largest market for immunoassays globally in terms of value. The region's high-end healthcare infrastructure, reimbursement for immunoassays, the high prevalence of chronic disorders, and the high expenditure on R&D by government organizations and pharmaceutical companies for early diagnosis and treatment are among the prime factors driving the regional market. For instance, PhRMA said the biopharmaceutical industry invested an estimated USD 102.3 billion in research and development (R&D) in 2021. Thus, high investment in R&D for the biopharmaceutical industry helps to develop new radioimmunoassays and drives the market over the forecast period.
Furthermore, the rising burden of chronic diseases like cancers in the region is expected to drive the market as radioimmunoassay is one of the major diagnostic procedures used to diagnose various chronic diseases. For instance, as per the American Cancer Society Cancer fact sheet, in 2021, the number of cancer cases in the United States was estimated as 1,898,160, and in 2022, it was estimated as 1,918,030 which showed a rising burden of cancer cases and was likely to increase the demand for the radioimmunoassay for diagnosis and was expected to drive the market over the forecast period.
Radioimmunoassay Industry Overview
The radioimmunoassay market is moderately competitive and consists of a number of major players. Companies like Danaher (Beckman Coulter Inc.), Berthold Technologies GmbH & Co. KG, DIAsource Immunoassays SA, and DRG International Inc., among others, hold substantial market shares in the radioimmunoassay market.
Radioimmunoassay Market Leaders
DIAsource ImmunoAssays SA
Danaher (Beckman Coulter, Inc.)
Berthold Technologies GmbH & Co. KG
DRG International Inc.
IBL International
*Disclaimer: Major Players sorted in no particular order
Radioimmunoassay Market News
- June 2022: Nonagen Bioscience, a cancer diagnostics company, gained a CE mark for its Oncuria immunoassay for bladder cancer.
- March 2022: Promega introduced new Lumit Immunoassays for ELISA users. The Lumit Cytokine Immunoassays can quantitatively detect released cytokines from cell culture samples in 70 minutes. These luminescent assays are scalable for basic research or high-throughput drug discovery and development screening.
Radioimmunoassay Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence and Incidence of Cancer and Infectious Diseases
4.2.2 Technological Advancements
4.3 Market Restraints
4.3.1 High Cost of Equipment Required for Radioimmunoassay and Hazardous Radioactive Materials
4.3.2 Continuous Innovations in Various Other Immunoassay Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD)
5.1 By Product
5.1.1 Analyzers
5.1.2 Reagents and Kits
5.2 By Application
5.2.1 Research
5.2.2 Clinical Diagnostics
5.3 By End User
5.3.1 Hospitals
5.3.2 Clinical Diagnostic Laboratories
5.3.3 Pharmaceutical Industries
5.3.4 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Danaher (Beckman Coulter, Inc.)
6.1.2 Berthold Technologies GmbH & Co. KG
6.1.3 DIAsource ImmunoAssays SA
6.1.4 DRG International Inc.
6.1.5 IBL International
6.1.6 Merck KGaA
6.1.7 Abbexa
6.1.8 Institute of Isotopes Co. Ltd.
6.1.9 Marin Biologic Laboratories, Inc.
6.1.10 Demeditec Diagnostics GmbH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Radioimmunoassay Industry Segmentation
As per the scope of the report, radioimmunoassay refers to a very sensitive, specific laboratory test or assay that uses radiolabeled and unlabeled substances in an immunological, i.e., antibody-antigen reaction. In this method, any biological substance for which a specific antibody exists can be measured, even in minute concentrations. The Radioimmunoassay Market is Segmented by Product (Analyzers, Reagents, and Kits), Application (Research and Clinical Diagnostics), End User (Hospitals, Clinical Diagnostic Laboratories, Pharmaceutical Industries, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value (in USD) for the above segments.
By Product | |
Analyzers | |
Reagents and Kits |
By Application | |
Research | |
Clinical Diagnostics |
By End User | |
Hospitals | |
Clinical Diagnostic Laboratories | |
Pharmaceutical Industries | |
Other End Users |
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Radioimmunoassay Market Research FAQs
What is the current Global Radioimmunoassay Market size?
The Global Radioimmunoassay Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in Global Radioimmunoassay Market?
DIAsource ImmunoAssays SA, Danaher (Beckman Coulter, Inc.), Berthold Technologies GmbH & Co. KG, DRG International Inc. and IBL International are the major companies operating in the Global Radioimmunoassay Market.
Which is the fastest growing region in Global Radioimmunoassay Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Radioimmunoassay Market?
In 2024, the North America accounts for the largest market share in Global Radioimmunoassay Market.
What years does this Global Radioimmunoassay Market cover?
The report covers the Global Radioimmunoassay Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Radioimmunoassay Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Radioimmunoassay Industry Report
Statistics for the 2024 Radioimmunoassay market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Radioimmunoassay analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.