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(Health-NewsWire.Net, December 03, 2020 ) The study involved four major activities in estimating the current size of the ATP Assay Procedures Market. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets.
The next step is to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the sizes of segments and subsegments.
Expected Revenue Growth:
The global ATP assay market size is projected to reach USD 315 million by 2024 from USD 191 million in 2019, at a CAGR of 10.5%.
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Growth Influencing Factors:
Growth in ATP Assay Market is majorly driven by the increasing demand for ATP assays in pharmaceutical & biotechnology companies, rising investments in pharmaceutical & biotechnology R&D, the increasing prevalence of cancer and other chronic and infectious diseases, and the shift from culture-based tests to rapid tests.
Recent Developments:
# In March 2019, Promega launched the Water-Glo reagent, which uses bioluminescent technology to measure ATP and is used for monitoring microbial contamination in freshwater, process water, seawater, or wastewater samples.
# In August 2018, Hygiena acquired Biomedal’s Food Safety division. Under this acquisition, the new division will be named Hygiena Diagnóstica España and will provide allergen tests and assays in the market.
# In February 2018, Merck invested around USD 44 million (~EUR 40 million) for expanding its manufacturing and distribution centers in South Korea, India, and China.
# In August 2017, Hach (a subsidiary of Danaher Corporation) expanded its Loveland, US campus by inaugurating a new facility for R&D.
By end user, pharmaceutical & biotechnology companies accounted for the largest market share in 2018
Based on end user, the ATP assay market is segmented into pharmaceutical & biotechnology companies, the food & beverage industry, hospitals & diagnostic laboratories, and academic & research institutions. In 2018, the pharmaceutical & biotechnology companies segment accounted for the largest share of the market. ATP assays are emerging as preferred tools for screening potential drug compounds; therefore, many pharmaceutical and biotechnology companies are gradually replacing other in vitro and biochemical assays with cell-based assays, such as ATP assays, in drug discovery. Owing to the increasing adoption of cell-based assays, the use of ATP assay kits is also likely to increase in the coming years.
Key Questions Addressed in the Report
# Which are the top 10 players operating in the ATP assays market?
# What are the drivers, restraints, opportunities, and challenges of the market?
# What are the prevailing industry trends, and what is the current scenario in the market?
# What are the growth trends in the market at the segmental and overall levels?
# How is the market performing in different regions across the globe?
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Asia Pacific is expected to witness the highest growth in the ATP assays market from 2019 to 2024
The global ATP Assay Procedures Market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. During the forecast period, the Asia Pacific market is estimated to grow at the highest CAGR, as several countries are witnessing a growing number of proteomics, genomics, and stem cell research activities, increasing research funding, rising investments by pharmaceutical & biotechnology companies, and the growing trend of research infrastructure modernization.
Global Leaders:
The prominent players in the global ATP assay market are Merck KGaA (Germany), Thermo Fisher Scientific, Inc. (US), PerkinElmer, Inc. (US), Lonza Group (Switzerland), Promega Corporation (US), Agilent Technologies, Inc. (US), Abcam plc. (UK), Danaher Corporation (US), Hygiena, LLC. (US), BioThema AB (Sweden), Abnova Corporation (Taiwan), AAT Bioquest (US), PromoCell GmbH (Germany), BioVision, Inc. (US), Geno Technology, Inc. (US), Biotium (US), Canvax Biotech S.L. (Spain), Creative Bioarray (US), Elabscience (US) and MBL International Corporation (US).
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