(Health-NewsWire.Net, June 02, 2022 ) Expected Revenue Surge:
The global ATP assays market is projected to reach USD 412 million by 2027 from USD 276 million in 2022, at a CAGR of 8.4%.
Major Growth Influencing Factors:
The increasing incidence of chronic & infectious diseases, increasing drug discovery & development studies, favorable regulatory guidelines, the growing focus of global market players on emerging Asian economies, increasing research funding, increasing investments by pharmaceutical and biotechnology companies, and research infrastructure modernization are some of the key factors driving the market for ATP assays.
The pandemic has mildly impacted ATP assays worldwide. It has disrupted supply chain of raw materials but after few months the market bounced back again. The COVID-19 pandemic has limited the movement of people, goods, and services worldwide, disrupted supply chains, restricted sales operations, marketing efforts, and customer field support, and impeded the shipping and delivery of products to customers. Due to the high spending on research and increase in drug discoveries post COVID-19, ATP assays are used to measure cytotoxicity and cell viability, which will drive the growth of the ATP assays market in pharmaceutical & biotechnology companies and research labs.
The consumables and accessories segment accounted for the largest share of the ATP assays, by product in 2021
Based on products, the ATP assays market is segmented into consumables & accessories and instruments. The large share of the consumables and accessories segment is attributed to the extensive usage of ATP assays in research institutes to measure cell viability, increase in drug discovery due to a surge in chronic diseases which requires tumor testing and cell proliferation (in cancer), and the repeated purchase of consumables by pharmaceutical and biotechnology companies.
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The contamination testing segment accounted for the largest share of the ATP assays market in 2021
Based on application, the ATP assays market is segmented into contamination testing, disease testing, and drug discovery & development. The large share of the contamination testing segment can be attributed to the rising regulatory stringency of pharmaceutical and food & beverage companies for non-contaminated production, an increase in drug discovery post COVID-19, and the need for cleaning and disinfection of environmental surfaces in hospitals.
The pharmaceutical and biotechnology companies segment accounted for the largest share of the ATP Assays market in 2021
Based on end users, the ATP assays market is segmented into pharmaceutical & biotechnology companies, the food & beverage industry, hospitals & diagnostic laboratories, and academic & research institutes. The large share of the pharmaceutical and biotechnology segment can be attributed to the presence of a large number of pharmaceutical players with growing investments in this market, growing regulatory approvals for cell culture-based vaccines which require the use of ATP assays in contamination testing, commercial expansion of various pharmaceutical companies, the increasing demand for cell and gene therapies for chronic diseases, significant R&D in pharmaceutical & biopharmaceutical companies, increasing production of COVID-19 drugs, increasing adoption of cell-based assays for drug development, and the ease of use of ATP assays in contamination testing.
North America accounted for the largest share of the ATP Assays market in 2021
In 2021, North America accounted for the largest share the ATP assays market, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America can be attributed to the large pharmaceutical & biotechnology industry in the region, rising demand for cell-based assays in research, growing food safety concerns, and an increase in government funding for life science research.
The prominent players in the ATP assays market are Thermo Fisher Scientific, Inc. (US), Promega Corporation (US), Merck KGaA (Germany), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), Abcam plc (UK), Lonza Group (Switzerland), NEOGEN Corporation (US), 3M (US), Danaher Corporation (US), PromoCell GmbH (Germany), Geno Technology, Inc. (US), Abnova Corporation (Taiwan), AAT Bioquest (US), BioThema AB (Sweden), Elabscience Biotechnology Inc. (US), MBL International Corporation (US), Biotium (US), Creative Bioarray (US), Canvax Biotech S.L. (Spain), Ruhof Corporation (US), Charm Sciences, Inc. (US), Bio Shield Tech LLC (US), Cayman Chemical (US), and Cell Signaling Technology (US).
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Mr. Aashish Mehra