Radioimmunoassay Kits Market Set to Grow Exponentially During the Forecast 2016-2024

Radioimmunoassay kits are used to perform the in-vitro procedure of the assay. The kits come in varied forms and types, and include a buffer solution for radioimmunoassay, a standard peptide in lyophilized powder form, an antibody in lyophilized powder which is specific to the antigen / peptide, a normal IgG serum, and an antibody IgG serum, along with a positive control for the test, and a separation technique of choice. The radioimmunoassay kits include, plates, tubes and reagents for different number of tests such as 50 test, 100 tests, 125 tests, etc.

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Radioimmunoassay (RIA), is an in-vitro technique, used for measuring concentrations of various antigens such as hormones, which are of clinical and biological importance. Radioimmunoassay works on the principle of binding assay, in which the binder is an antibody, which binds to the antigen, and the amount of bound antigen is measured using radioactivity. Radioimmunoassay has gained significant importance in the field of medical diagnostics, due to certain factors such as precision, accuracy, specificity of results, and sensitivity. Radioimmunoassay involves three important factors, a pure antigen, a radio labelled antigen, and an antibody, along with a separation unit to evaluate the distribution of radioactivity in free and bound antigens. The accuracy and sensitivity of the assay mainly depends upon the quality of antigens and antibodies taken, and the choice of separation techniques.

Increasing use of radioimmunoassay (RIA) in in-vitro diagnostics segment of the healthcare industry such as research institutes, diagnostic laboratories, pharmaceutical companies, and other healthcare settings, has led to increase in demand for radioimmunoassay kits. Widened applications of the radioimmunoassay technique such as radioimmunoassay for measuring progesterone in cow’s milk is expected to fuel the demand for radioimmunoassay kits.

Furthermore, technological advances in the field of in-vitro diagnostics, increasing demand for accuracy and quality results, and demand for more advanced reagents and kits, is expected to drive the growth of the global radioimmunoassay kits market during the forecast period of 2016-2024. But, use of hazardous radioactive materials in the assay, and high cost of equipment required for the procedure, are some factors which are anticipated to limit the growth of the global radioimmunoassay kits market.

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The global market for radioimmunoassay kits is segmented on basis of applications, end user and geography. Segmentation by Application: Infectious Disease Testing, Allergy Testing, Oncology Testing, Endocrine Testing, Toxicology Testing, Autoimmune Disease Testing, Others (Research, etc.). Segmentation by End User: Hospitals, Ambulatory Surgery Centers, Diagnostic Laboratories, Pharmaceutical Industries, Academic Research Institutes.

Based on applications, the oncology testing application accounted for the largest market share of the global radioimmunoassay kits market in 2015. Increasing tobacco smoking and other carcinogenic factors has led to an increase in number of cancer patients and it has been the major factor driving the growth of the oncology application segment in the global radioimmunoassay kits market. According to the American Cancer Society, in 2015, there were around 15.4 Mn cancer survivors in the U.S. alone, with almost 1.6 Mn new cancer cases detected every year.

Prostate cancer was the most prevalent forms of cancer in males with around 3.3 Mn people suffering from it in 2015, while in females, breast cancer was the most prevalent affecting an estimated 3.5 Mn females in the U.S. in 2015. Also, a booming allergy testing segment due to increasing prevalence of food and inhaled allergies around the world, is expected to drive the segment growth in the global radioimmunoassay kits market during the forecast period of 2016-2024.

On the basis of regional presence, global radioimmunoassay kits market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America region is expected to lead the global radioimmunoassay kits market due to advanced healthcare infrastructure, advancements in diagnostic technologies, higher demand for quality and accurate tests, and availability of reimbursement policies.

Asia Pacific market is anticipated to grow at the fastest growth rate during the forecast period, owing to factors such as increasing cancer incidences and allergies especially food allergies in countries of China, Japan, Singapore, Australia and India. Growing medical tourism and high growth of the In-vitro Diagnostics (IVD) in these countries, is expected to drive the growth of radioimmunoassay kits market during the forecast period of 2016-2024.

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Some of the major players in global radioimmunoassay kits market are Beckman Coulter, DIAsource ImmunoAssays SA, DiaSorin S.p.A., EMD Millipore (U.S.), Berthold Technologies GmbH & Co. KG, Cisbio, IBL International, Euro Diagnostica AB, Izotop, MP Biomedicals, PerkinElmer, Stratec Biomedical AG, DRG International.

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