Radioimmunoassay Market to witness steady increase by 2024

The estimation of certain protein in a complex mixture is an important input in the domain of medical science. In immunoassays, highly specific antibodies are used to target the specific molecule of interest and evaluate its quantity in a mixture. Radioimmunoassay is a medical diagnostic process used to quantify the number of specific antigens by using specific antibodies. Radioimmunoassay is a very sensitive technique, in which any biological molecule can be quantified if a specific antibody against it exists even in a very small amount.

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The increasing incidence of various infectious diseases and cancer is the major factor boosting the growth of the radioimmunoassay market. The other major factors propelling the growth of the global market include the rising usage of radioimmunoassay procedures in contract research organizations, pharmaceutical industries, and research centers and increasing demand for automated and high-throughput procedures in diagnostic labs and research centers to assure patients contentment in receiving fault-free outcomes. The global radioimmunoassay market is also anticipated to observe a noteworthy rate of growth in the near future due to high use these techniques in improvements in medical research and cancer detection.

The global radioimmunoassay market can be segmented based on application, end-user, product, and region. The application segment of the global market is sub-segmented into medical diagnosis and scientific research. The end-user segment of the global market is divided into biotechnology and pharmaceutical industry, contract research organizations, academic research institute, and hospitals. The product segment of the global radioimmunoassay market is diversified into analyzers and reagents & kits. Regionally, the global market is classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

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Europe is anticipated to dominate the global radioimmunoassay market in the near future due to increasing frequency of various infectious diseases, increasing clinical trials, the high elderly population with cancer signs, and developments in medical research. North America is also expected to grow at a faster pace in the coming period. The factors such as increasing number of cancer patients, acceptance of enhanced technologies in research domain, and steadily rising alertness contribute in boosting the global radioimmunoassay market growth in this region. The rising expenditure on the development of research centers by the nongovernment and government organization may also propel the market growth in North America. Increasing use of radioimmunoassay techniques for diagnosis of cancer and the aging population may lead the Asia Pacific region to grow at a significant rate in the global market in the near future.

The major players in the global radioimmunoassay market include Beckman Coulter, Inc., DIAsource ImmunoAssays SA, PerkinElmer, Inc., IBL International, and DRG International, Inc. The other key players in the global market are MP Biomedicals, LLC, Stratec Biomedical AG, Euro Diagnostica AB, Izotop, EMD Millipore, Berthold Technologies GmbH & Co. KG, and Cisbio.

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