Global Radio Immunoassay (RIA) Reagents and Devices Market Segmentation, By Type (Reagents and Kits and Analyzers), Application (Research and Clinical Diagnostics), End-Use (Hospital, Pharmaceutical Industry, Academics and Clinical Diagnostic Labs) – Industry Trends and Forecast to 2031.
Radio Immunoassay (RIA) Reagents and Devices Market Analysis
According to a study completed by future wise research analysts, the Radio Immunoassay (RIA) Reagents and Devices Market is expected to rise significantly by the end of the forecast period 2024-2031. The radioimmunoassay is used because of its high sensitivity, which allows it to detect hormone convergences at nanomolar and picomolar levels in organic liquids. The reagents and instruments used in radio immunoassay (RIA) are those that are used to detect the presence or concentration of an antigen. The radio immunoassay (RIA) reagents and equipment are made with cutting-edge technology and employed in endocrinology, toxicology, and oncology.
Radio Immunoassay (RIA) Reagents and Devices Market Size
Global radio immunoassay (RIA) reagents and devices market size was valued at USD 26.22 billion in 2023 and is projected to reach USD 45.05 billion by 2031, with a CAGR of 7.00% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Radio Immunoassay (RIA) Reagents and Devices Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Beckman Coulter, Inc. (U.S.), STRATEC SE (Germany), PerkinElmer, Inc. (U.S.), DRG International, Inc. (U.S.), MP BIOMEDICALS (U.S.), Cisbio (France), Euro Diagnostica AB (Sweden), Tecan Trading AG ( Switzerland), DiaSorinS.p.A. (Italy), EMD Millipore (U.S.), iZotope, Inc. (U.S.), DIAsource (U.S.), Berthold Technologies GmbH & Co. KG (Germany)
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Market Opportunities
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Radio Immunoassay (RIA) Reagents and Devices Market Definition
The in-vitro test strategy radio immunoassay (RIA) is used to measure the merging of antigens in blood. The division of protein from a mixture is accomplished using the specificity of neutralising specialty antigen officials, and their quantification is accomplished using radioactivity. The procedure is extremely delicate, and it uses antibodies to assess little amounts of hormone or solution level.
Radio Immunoassay (RIA) Reagents and Devices Market Dynamics
Drivers
- Revolutionizing new technical developments
According to the WHO, cancer is the world's second largest cause of mortality. In 2018, the worldwide cancer burden was expected to have increased to 18.1 million new cases and 9.6 million deaths. The radioimmunoassay market is predicted to develop as the prevalence of cancer and other infectious disorders rises.
- Growing significance of research and development in medical science
The use of radioimmunoassay in the pharmaceutical and biotechnology industries and medical research labs and contract research organisations (CROs) is expected to drive demand for analyzers, kits, and reagents. As a result, the global market is predicted to grow faster in the approaching years.
- Increase in number of blood donations in blood banks
Approximately 13,300 blood centres in 169 countries collect 106 million donations, according to the World Health Organization (WHO). Around 118.4 million blood donations collected globally in 2019. The rising amount of blood donations in blood banks necessitates the use of radioimmunoassay to track and screen blood for infections or diseases like hepatitis and leukaemia, which is expected to boost the worldwide radioimmunoassay market from 2024 to 2031.
- Detection of different kinds of drugs
Radioimmunoassay can be used to measure or determine very small quantities of substances including antigen, antibodies, hormones, and medicines (e.g. nanogram, picogram). As a result, RIA is utilised in forensics, narcotics, and other fields to detect substances. This is one of the aspects that has contributed to the global expansion of the radioimmunoassay market.
Opportunities
One of the key factor driving the market's growth is an increase in the number of government efforts aimed at raising awareness about cancer and other life-threatening diseases. Another market growth reason is the rising prevalence of malaria, influenza, and HIV/AIDS in developing economies. Other major reasons that would offer profitable market growth prospects include an ever-increasing elderly population base, an rise in the number of hospitalizations due to various mental illnesses, and a shift in focus towards patient-centric systems.
Restraints/Challenges
However, the government's strict regulatory rules on the usage of these gadgets would slow the market's growth. The market will face additional obstacles as a result of high setup costs and technical constraints. The market development rate would also be hampered by unfavourable reimbursement rules and a scarcity of competent medical personnel in developing countries.
This radio immunoassay (RIA) reagents and devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the radio immunoassay (RIA) reagents and devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Radio Immunoassay (RIA) Reagents and Devices Market
Due to the advent of the COVID-19 pandemic, the radioimmunoassay market is expected to grow at a high rate, as these tests are widely employed for rapid detection of this virus and are critically needed for early identification of infected patients. As the situation has become more severe, the immunoassay is expected to play an increasingly important role as the urgency and intricacy of the current COVID-19 crisis grows. Testing for SARS-CoV-2 is not the only requirement in the management of COVID-19 patients; quick, accurate screening and monitoring for a number of health concerns that may occur as a result of COVID-19 disease management is also required. As a result of the aforementioned causes, the segment is expected to grow in the next years.
Radio Immunoassay (RIA) Reagents and Devices Market Scope
The radio immunoassay (RIA) reagents and devices market is segmented on the basis of type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Reagents & Kits
- Analyzers
Application
- Research
- Clinical Diagnostics
End-User
- Hospital
- Pharmaceutical Industry
- Academics
- Clinical Diagnostic Labs
Radio Immunoassay (RIA) Reagents and Devices Market Regional Analysis
The radio immunoassay (RIA) reagents and devices market is analysed and market size insights and trends are provided by country, type, application and end user as referenced above.
The countries covered in the radio immunoassay (RIA) reagents and devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
In terms of market share and revenue, North America dominates the radio immunoassay (RIA) reagents and devices market, and this dominance will continue over the forecast period 2024 to 2031. This is due to a rise in social awareness, acceptability, and awareness among the general public.
On the other hand, due to rising government spending on healthcare, demand for early diagnostic treatments, and rising personal disposable income, Asia-Pacific is expected to develop at the fastest rate during the projection period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The radio immunoassay (RIA) reagents and devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for radio immunoassay (RIA) reagents and devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the radio immunoassay (RIA) reagents and devices market. The data is available for historic period 2010-2020.
Radio Immunoassay (RIA) Reagents and Devices Market Share
The radio immunoassay (RIA) reagents and devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to radio immunoassay (RIA) reagents and devices market.
Radio Immunoassay (RIA) Reagents and Devices Market Leaders Operating in the Market Are:
- Beckman Coulter, Inc. (U.S.)
- STRATEC SE (Germany)
- PerkinElmer, Inc. (U.S.)
- DRG International, Inc. (U.S.)
- MP BIOMEDICALS (U.S.)
- Cisbio (France)
- Euro Diagnostica AB (Sweden)
- Tecan Trading AG (Switzerland)
- DiaSorinS.p.A. (Italy)
- EMD Millipore (U.S.)
- iZotope, Inc. (U.S.)
- DIAsource (U.S.)
- Berthold Technologies GmbH & Co. KG (Germany)
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