Radioimmunoassay Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, UK, Germany, China - Size and Forecast 2024-2028

Radioimmunoassay Market Size 2024-2028

The global radioimmunoassay market size is estimated to grow by USD 1.73 billion, at a CAGR of 4.82% between 2023 and 2028. 

Our report examines historical data from 2018-2022, besides analyzing the current market scenario. The pharmaceutical and biotechnology industries significantly rely on radioimmunoassay techniques for various applications, including drug level, pharmacokinetic studies, and biomarker analysis. Additionally, the biotechnology sector has witnessed rapid growth due to advancements in biologics, gene therapy, in-vitro assay technique, and personalized medicine. Moreover, progress in biotechnology, such as the emergence of bi-specific antibodies, cell-based therapies, and gene editing technologies, underscores the need for robust analytical tools for preclinical and clinical evaluations for diseases like cancer. Consequently, the expansion of the pharmaceutical and biotechnology industries is poised to drive the growth of the market during the forecast period.

Study Period	2024-2028
Base Year For Estimation	2023
CAGR	4.82%
Forecast period	2024-2028
Fastest Growing Region	North America at 40%
Largest Segment	Application

Buy Now Full Report and Discover more

What will be the size of the market during the forecast period?

To learn more about this report, Download Report Sample

Market Segmentation

Application Analysis

The market share by the clinical diagnostics segment will be significant during the forecast period. Primarily, RIA is extensively employed in endocrine testing, facilitating the precise measurement of hormones like insulin, thyroid hormones, cortisol, and growth hormones. RIA is widely utilized in oncology for tumor marker testing, assisting in cancer diagnosis, staging, and monitoring treatment response. Tumor markers such as prostate-specific antigen (PSA), alpha-fetoprotein (AFP), and carcinoembryonic antigen (CEA) can be accurately measured using RIA, contributing to early cancer detection and surveillance. Moreover, governmental regulations concerning in vitro diagnostics play a crucial role in sustaining the uninterrupted utilization of products in the market. 

Get a glance at the market contribution of various segments Download PDF Sample

The clinical diagnostics segment was valued at USD 3.06 billion in 2018. Additionally, RIA finds application in therapeutic drug monitoring, ensuring optimal dosing of medications such as immunosuppressants, antibiotics, and antiepileptic drugs. By measuring drug concentrations in patient samples, RIA helps clinicians adjust dosage regimens to maintain therapeutic efficacy while minimizing adverse effects. Thus, RIA in clinical diagnostics empowers healthcare professionals with essential tools for disease detection, management, and personalized treatment strategies, thus driving the growth of the market during the forecast period.

Product Analysis

In the market, reagents and kits are essential components that enable accurate and sensitive measurement of various substances in biological samples. These products encompass a wide range of assays tailored for specific analytes, including hormones, proteins, drugs, and tumor markers. Reagents typically consist of specific antibodies or antigens labeled with radioactive isotopes, while kits include all necessary components for conducting the assay, such as standards, controls, buffers, and assay plates. Additionally, key players in the market offering these products include PerkinElmer Inc., and Merck KGaA. PerkinElmer Inc. provides a comprehensive portfolio of kits and reagents tailored for measuring a wide range of hormones, steroids, and tumor markers. Consequently, with growing innovations and advantages offered by reagents and kits are expected to propel the growth of the market during the forecast period.

Regional Analysis

For more insights about the market share of various regions Download PDF Sample now!

North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. North America serves as a significant region in the market, driven by factors such as technological advancements, increasing healthcare expenditure, and a high prevalence of chronic diseases. The region is characterized by the presence of key players, advanced healthcare infrastructure, and a strong emphasis on research and development activities.

Additionally, in the US and Canada, radioimmunoassay finds extensive application in clinical diagnostics, pharmaceutical research, and academic institutions. The rising incidence of diseases such as diabetes, cancer, and cardiovascular disorders fuels the demand for accurate diagnostic tools, thereby propelling market growth. Additionally, favorable government initiatives aimed at promoting early disease detection and personalized medicine further augment market expansion during the forecast period.

Buy the Full Report Now

Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• ALPCO: The company offers radioimmunoassay such as Cortisol Radioimmunoassay RIA, which is for the Quantitative Determination of Free Cortisol in Human, serum, plasma, urine, and now saliva samples.

Beckman Coulter Inc., Bio Rad Laboratories Inc., BioVendor Laboratorni medicina AS, Danaher Corp., Enzo Biochem Inc., Merck KGaA, MP BIOMEDICALS, OriGene Technologies Inc., PerkinElmer Inc, Siemens Healthineers AG, Tecan Trading AG, and Thermo Fisher Scientific Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The market is a pivotal component of in-vitro assay techniques, revolutionizing diagnostic procedures in clinical laboratories and beyond. By leveraging the specificity of antibody-antigen binding and the detectability of radioactivity, this technique enables precise measurement of hormones, drug levels, and other biomolecules at nanomolar and picomolar concentrations. Widely employed in diagnosing conditions such as cancer, peptic ulcers, and infections, it plays a crucial role in both diagnostic procedures and research endeavors across pharmaceutical industries, research labs, and contract research organizations (CROs). With advancements in high-throughput and automated procedures, the radioimmunoassay market continues to facilitate oncology testing, toxicology testing, and autoimmune disease testing to address the rising incidence rate of cancer and other diseases. Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of trends and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Significant Trends

Shift towards automation and integration into radioimmunoassay systems is the primary trend shaping the market. One of the notable market trends is the shift towards automation and integration of assay systems, driven by the need to streamline workflows, improve efficiency, and reduce manual errors. Laboratories are increasingly adopting automated platforms that integrate instrumentation with laboratory information management systems (LIMS) and other laboratory automation solutions. One example of this trend is the development of fully automated radioimmunoassay systems that offer walk-away capabilities, allowing for the continuous processing of samples without manual intervention.

Further, another example is the integration of radioimmunoassay systems with robotic sample handling and processing systems, enabling high throughput testing with minimal human intervention. Beckman Coulter Inc.s DxCi 800 Immunoassay System integrates with its REMISOL AdvanceTM middleware and laboratory automation solutions, providing seamless sample tracking, data management, and workflow optimization. These companies continue to innovate and expand their automation offerings to meet the evolving needs of clinical laboratories and research facilities worldwide. Thus, the increasing shift towards automation and integration is expected to propel the growth of the market during the forecast period.

Major Challenges

The rise in competition from alternative technologies is a major challenge that affects market growth. While radioimmunoassays offer high sensitivity and specificity, they face competition from newer diagnostic techniques that may offer similar or improved performance characteristics. One example of a competing technology is enzyme-linked immunosorbent assays (ELISA). ELISA assays offer comparable sensitivity and specificity to radioimmunoassays but are often preferred due to their non-radioactive nature, making them safer and more environmentally friendly.

Additionally, CLIA assays also typically require smaller sample volumes and shorter assay times, making them more attractive for high throughput testing applications. Thus, the adoption of these alternative technologies poses a challenge to the market, as laboratories may opt for newer assays that offer comparable or superior performance while addressing safety, environmental, and workflow concerns. Therefore, the increasing advantages offered by these alternatives pose a threat to the growth of the market during the forecast period.

Buy Now Full Report

Key Market Customer Landscape

The market growth and forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

 Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Deployment Outlook
  • Clinical diagnostics
  • Research

• Application Outlook
  • Reagents
  • Kits
  • Analyzers

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Australia

Market Analyst Overview: 

The market utilizes in-vitro assay techniques to analyze antigens and antibody-antigen binding in blood and protein samples. With applications in hormone and drug level detection at nanomolar and picomolar concentrations, it aids in various diagnostic procedures including detecting abused drugs, hepatitis B surface antigen, and markers for cancer and peptic ulcers. Pharmaceutical industries, research labs, and contract research organizations rely on RIA kits and equipment for oncology testing, toxicology testing, and autoimmune disease testing, fueled by advancements in technological innovation and demand for diagnostic solutions.

Additionally, the radioimmunoassay (RIA) market employs radioactivity to detect hormones, neurotransmitters, and infections at nanomolar concentrations. Widely used by contract research organizations (CROs), it offers high-throughput and automated procedures for diagnostic testing. With a focus on the research segment, it experiences a compound annual growth rate (CAGR) driven by end users like hospitals, academics, and the pharmaceutical industry. RIA analyzers and kits play crucial roles in disease diagnosis, including for cardiovascular diseases, diabetes, and chronic infections like Hepatitis B Virus (HBV). Collaborations among healthcare providers, research institutions, and technology companies drive technological advancement and innovation in the field.

Furthermore, the market is influenced by various factors including allergens and urbanization, as well as the aging population. With a compound annual growth rate (CAGR), it caters to diverse end users such as physician offices, patient self-testing centers, and blood banks. Notably, RIA technology is featured in prominent journals like the Journal of Radioanalytical and Nuclear Chemistry and the Journal of Molecular and Cellular Endocrinology. It plays a vital role in diagnosing conditions like cardiovascular diseases and Hepatitis B Virus (HBV) infection, driving innovation in diagnostic kits and alternative diagnostic technologies.

Market Scope
Report Coverage	Details
Page number	150
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 4.82%
Market Growth 2024-2028	USD 1.73 billion
Market structure	Concentrated
YoY growth 2023-2024(%)	3.83
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 40%
Key countries	US, Canada, UK, Germany, and China
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	ALPCO, Beckman Coulter Inc., Bio Rad Laboratories Inc., BioVendor Laboratorni medicina AS, Danaher Corp., Enzo Biochem Inc., Merck KGaA, MP BIOMEDICALS, OriGene Technologies Inc., PerkinElmer Inc, Siemens Healthineers AG, Tecan Trading AG, and Thermo Fisher Scientific Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Download the Sample PDF at your Fingertips

What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2024 and 2028
• Precise estimation of the size and its contribution of the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch