Radioimmunoassay Market Report Analysis And Market Insights For Highly Profitable Investment Decision: Industry Outlook By 2030

 

Global Radioimmunoassay Market – Industry Trends and Forecast to 2030

    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.


    Radioimmunoassay Market


    Market Definition

    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.

    With this increasing number of such severe diseases like cancer and infections and healthcare awareness, the growth of laboratory testing has led to increased demand for various kits for testing. This aspect also contributes to the rising demand for reagents and kits.

    The global radioimmunoassay market is growing in the forecast year due to the rise in market players and the availability of advanced kits and analyzers. Along with this, manufacturers are engaged in R&D activity for launching products in the market. The increasing research and developments and pre-testing further boost the market growth. However, another immunoassay testing technique dominates radioimmunoassay, which might hamper the growth of the global radioimmunoassay market in the forecast period.

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