Radioimmunoassay Market is Likely to Grasp the Value of USD 618.44 Million by 2030, Size, Share, Growth Drivers, Trends, Challenges and Competitive Landscape

LONDON, Jan. 24, 2023 /PRNewswire/ -- Data Bridge Market Research has recently published a Report, titled, "Radioimmunoassay Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. The universal Radioimmunoassay business report encompasses a thorough study of current situation of the global market along with several market dynamics Competitor analysis is one of the most important aspects of market research report which helps businesses decide upon the strategies by comparing them with the competitors. The use of newest and advanced tools and techniques used for this report makes it the finest in the class. Competitor strategies highlighted in the winning Radioimmunoassay market survey report mainly include new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others that boost their footprints in this market.

The global radioimmunoassay market is expected to grow in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.1% in the forecast period of 2023 to 2030 and is expected to reach USD 618.44 million by 2030.

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Radioimmunoassay is a heterogeneous assay that employs a radiolabeled drug (typically 125i), the competitive binding assay theory that underpins radioimmunoassay. In this method, antigen and antibody bind to one another, and radioimmunoassay is used to determine how much antigen is bound. With the aid of antibodies, this method's hypersensitivity allows it to detect even the tiniest hormone or medication levels.

Due to the rise in healthcare prevalence of various diseases, increased research in the healthcare sector for therapeutic purposes, and various testing like endocrinology and infectious diseases by using radioimmunoassay kits used for testing and increasing healthcare spending would also propel business growth. The clinical research and laboratories for pre-testing various diseases allow the market to expand.

Opportunities for Players:

• LACK OF SKILLED PROFESSIONALS

The radioimmunoassay technique is very advanced and sensitive enough to find small molecules in the blood. It is therefore used for research purposes and diagnosing diseases such as cancer. Organizations and research labs also implement this technique for specific research purposes that use animal or human serum. However, the lack of qualified personnel who cannot use these instruments could curb the growth of the radioimmunoassay market over a forecast period.

Moreover, rapid technological advancement in this field also led to the lack of skilled professionals. Lack of skilled professionals poses a major challenge while handling device devices worldwide.

Some of the major players operating in the Radioimmunoassay market are:

• PerkinElmer Inc.,
• Merck KGaA,
• Beckman Coulter, Inc.,
• Abcam Plc.,
• Tecan Trading AG,
• EUROIMMUN Medizinische Labordiagnostika AG,
• KAMIYA BIOMEDICAL COMPANY,
• Berthold Technologies GmbH & Co.KG,
• Demeditec Diagnostics GmbH,
• MyBioSource.com.,
• DiaSource,
• Hidex Oy.,
• MP BIOMEDICALS, and
• Immuno-Biological Laboratories

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Recent Developments

• In April 2022, Merck, a leading science and technology company, announced several organizational changes and a new operating model to support the life science business sector's long-term growth strategy and better serve its customers' evolving needs. This has helped the company to expand its life sciences business segment.
• In June 2022, EUROIMMUN, a PerkinElmer, Inc. company, announced the launch of two CE-marked assays – the Anti-SARS-CoV-2 RBD ChLIA (IgG) and the Anti-SARS-CoV-2 Omicron ELISA (IgG). Both test systems enable the detection of IgG antibodies formed against SARS-CoV-2 and are available to laboratories in countries that accept the CE mark. This has helped the company to expand its business in the market.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Radioimmunoassay market

Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market

Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Radioimmunoassay Market

Market Dynamics: Radioimmunoassay Market

• Increase In The Demand For Error-Free And Accurate Results Of High Throughput And Automated Procedures

Radioimmunoassay is a heterogeneous assay that employs a radiolabeled drug (typically 125i), the competitive binding assay theory that underpins radioimmunoassay. In this method, antigen and antibody bind to one another, and radioimmunoassay is used to determine how much antigen is bound.

Therefore, due to the increasing number of such severe diseases and viruses, the growth of biological models has been largely seen in recent years. This has increased the demand for error-free and accurate results from biological samples.

• Rise In The Prevalence And Incidence Of Infectious Diseases

Infectious diseases are illnesses caused by harmful agents (pathogens) entering the body. The most common causes are viruses, bacteria, fungi, and parasites. Infectious diseases usually spread from person to person through contaminated food or water and bug bites. Some infectious diseases are minor, and some are very serious.

Thus, rising number of cases of infectious, the growth of biological models has been largely seen in recent years. This has led to increased demand for various radioimmunoassay techniques for detecting and studying these aspects, which is expected to drive the market's growth in the coming years.

A comprehensive analysis will be provided covering the following points in the report:

• Executive Market Summary
• Scope of the Radioimmunoassay Report
• Key Finding and Recommendations
• Growth and Investment Opportunities
• Radioimmunoassay Market Value Chain/Supply Chain Analysis
• Radioimmunoassay Market Attractive Investment Proposition
• Competitive landscape and SWOT Analysis
• Radioimmunoassay Market Segmentation Outlook
• Regional Outlook
• Company Profiles of Key Players

Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global Radioimmunoassay market over the period. Further, Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider.

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Key Industry Segmentation: Radioimmunoassay Market

By Product Type

• Radio Immunoassay Reagents and Kits
•  Radio Immunoassay Analyzer

By Application

• Clinical Diagnosis
• Scientific Research

By End user

• Hospitals
•  Clinical Diagnostic Laboratories
• Academic And Research Institutes
•  Pharmaceutical And Biopharmaceutical Industry
•  Contract Research Organizations

By Distribution Channel

•  Direct Tender
•  Online Sales
• Third Party Distributions

Regional Analysis/Insights: Radioimmunoassay Market

The countries covered in this radioimmunoassay market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Netherlands, Belgium, Switzerland, rest of Europe, China, Japan, India, South Korea, Australia, Indonesia, Philippines, Thailand, Malaysia, Singapore, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, and rest of Middle East and Africa.

North America dominates the global radioimmunoassay market regarding market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the rising technological advancements in microscopy in that region, and growing R&D investments and the launch of new products are boosting the market.

Table of Contents:

1. Introduction
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Global Radioimmunoassay Market: Regulations
6. Market Overview
7. Global Radioimmunoassay Market, By Product Type
8. Global Radioimmunoassay Market, By Application
9. Global Radioimmunoassay Market, By End User
10. Global Radioimmunoassay Market, By Distribution Channel
11. Global Radioimmunoassay Market, By Region
12. Global Radioimmunoassay Market: Company Landscape
13. SWOT Analyses
14. Company Profile
15. Questionnaires
16. Related Reports

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