Worldwide ATP Assays Market to Experience Significant Growth to 2027 Due to Increasing Food Safety Concerns
DUBLIN, May 24, 2022 /PRNewswire/ -- The "ATP Assays Market by Product (Consumables (Kits, Reagent, Microplate), Instrument (Luminometer, Spectrophotometers)), Application (Contamination, Disease Testing, Drug Discovery), End User (Hospitals, Pharmaceuticals, Food Testing) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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%.
The growth of this market can largely be attributed to the increasing food safety concerns, growing demand for ATP assays in pharmaceutical & biotechnology companies, rising investments in pharmaceutical & biotechnology R&D, increasing prevalence of cancer and other chronic and infectious diseases, and the shift from culture-based tests to rapid tests.
However, the high cost of instruments and inability to differentiate between extracellular and intracellular ATP is expected to restrain the growth of this market to a certain extent.
The consumables and accessories segment accounted for the largest share of the ATP assays, based on products in 2021
Based on products, the ATP assays market is segmented into consumables & accessories, and instruments. The large share of the consumables & 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.
Contamination Testing accounted for the largest share of the market
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.
Pharmaceutical & Biotechnology companies hold the largest share in the market, by end-user
The large share of Pharmaceutical & Biotechnology companies in the end-user 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.
The APAC to witness the highest growth during the forecast period
Asia Pacific is expected to grow at the highest CAGR during the forecast period of 2022-2027. This regional market is expected to register the highest growth rate during the forecast period as several APAC countries are witnessing a growing number of proteomics, genomics, and stem cell research activities.
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.
Break of primary participants was as mentioned below:
- By Company Type - Tier 1-35%, Tier 2-45%, and Tier 3-20%
- By Designation - C-level-35%, Director-level-25%, Others-40%
- By Region - North America-45%, Europe-30%, Asia Pacific-20%, Latin America- 3%, Middle East and Africa-2%
Research Coverage
The report analyzes the ATP assays market and aims at estimating the market size and future growth potential of this market based on various segments such as product, application, end-user, and region. The report also includes a product portfolio matrix of various ATP assays products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
Market Penetration: Comprehensive information on product portfolios offered by the top players in the ATP assays market. The report analyzes this market by product, application, and end-user.
Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global ATP assays market
Market Development: Comprehensive information on the lucrative emerging markets by product, application, and end-user
Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global ATP assays market
Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global ATP assays market
Companies Mentioned
3M
AAT BioquesT
Abcam plc
Abnova Corporation
Agilent Technologies, Inc.
Bio Shield Tech LLC
BioThema AB
Biotium
Canvax Biotech S.L.
Cayman Chemical
Cell Signaling Technology
Charm Sciences, Inc.
companies
Creative Bioarray
Danaher Corporation
Elabscience Biotechnology Inc.
Geno Technology, Inc.
Lonza Group
MBL International Corporation
Merck KGaA
NEOGEN Corporation
PerkinElmer, Inc.
Promega Corporation
PromoCell GmbH
Ruhof Corporation
Thermo Fisher Scientific, Inc
For more information about this report visit https://www.researchandmarkets.com/r/hkw00y
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