Global Radioimmunoassay Market is Expected to Reach $428.4 Million by 2020

Date: 2015-10-24

Radioimmunoassay technique is basically used to measure the concentration of specific antigens by using specific antibodies. This technique is mainly used for research purposes rather than for diagnostics purposes. The global radioimmunoassay (RIA) market constituted 2.3% share of the global immunoassay market.

Radioimmunoassay has applications in the field of clinical diagnostics, and is used in hospitals, contract research organizations (CRO), laboratories, pharmaceutical companies, and others. It is used for the early detection and diagnosis of cancer; recognition of endocrinological disorders; and various other applications. Pharmaceuticals companies use the RIA techniques for drug testing. Radioimmunoassay also has it application in the research purpose, and contributed a share of 65.9% to the overall radioimmunoassay market in 2014.

The global radioimmunoassay market is expected to reach $428.4 million by 2020, at a CAGR of 3.5% during the forecast period from 2015 to 2020. The growing aging population and rise in the usage of radioimmunoassay technique in Oncology are the major factors influencing this market.

There are various application areas for RIA in research and diagnostics, which are infectious disease testing, endocrine testing, allergy testing, oncology testing, toxicology testing, and autoimmune disease testing. Out of all the application segments, oncology testing is the largest application segment, and is expected to hold the largest market share in the near future. The major reason behind these is the growth in the oncology market due to various factors, such as the increasing incidence rate of cancer, growth in aging population, urbanization with heavy pollution, and others. 

In 2015, Europe is estimated to account for the largest share of 35.1% in the global radioimmunoassay market. As radioimmunoassay is one of the key instruments used in the life sciences sector, increased investments in life sciences are expected to fuel the growth of the radioimmunoassay market in the region.  However, the growth in the European radioimmunoassay market is driven by the outsourcing of drug discovery, rising government investments in life sciences, and increasing prevalence of infectious diseases as well as cancer in this region. 

The report includes company profiles of major players, recent activities in the market, new product launches, mergers & acquisitions, collaborations and partnerships, and SWOT analysis. Some of the companies profiled in this report are DIAsource ImmunoAssays SA (Belgium), Beckman Coulter, Inc. (U.S.), IBL International (A Tecan Company) (Germany), PerkinElmer, Inc. (U.S.), DRG International, Inc. (U.S.), MP Biomedicals, LLC (U.S.), Cisbio (France), Euro Diagnostica AB (Sweden), DiaSorin S.p.A.. (Italy), EMD Millipore (U.S.), Izotop (Hungary), Berthold Technologies GmbH & Co. KG (Germany), and Stratec Biomedical AG (Germany), among others.  

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