Global ATP Assay Market Forecasts, 2019-2024 - Promising Growth Prospects in Emerging Markets - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 6, 2019--
The “ATP Assay Market by Product (Consumables (Kit, Reagent, Microplate), Instrument (Luminometer, Spectrophotometer)), Application (Contamination Test, Disease Test), End User (Pharmaceutical & Biotechnology Company, F&B), Region - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The ATP assays market is projected to reach USD 315 million by 2024 from USD 190.8 million in 2019, at a CAGR of 10.5%.
Rising demand for ATP assays in pharmaceutical and biotechnology companies
Growth in this market is majorly driven by the increasing demand for ATP assays in pharmaceutical and biotechnology companies, rising investments in pharmaceutical and biotechnology R&D, increasing prevalence of cancer and other chronic and infectious diseases, and shift from culture-based tests to rapid tests.
The consumables & accessories segment will register the highest growth in the market, by product
Based on product, the market is segmented into consumables & accessories and instruments. The consumables & accessories segment is expected to witness the highest CAGR in the ATP assays market during the forecast period. The large share of this segment can be attributed to the high usage of ATP assays for microbial contamination testing and the growing applications of ATP assays in different industries like food & beverage and agriculture. Their high usage and the need for repeat purchases equate to a larger market share and higher growth rate.
Contamination testing is the largest application segment of the ATP assays industry
Based on application, the market is segmented into contamination testing, disease testing, and drug discovery & development. In 2018, the contamination testing segment accounted for the largest share of the ATP assays market. This is attributed to the high frequency of contamination testing protocols carried out by pharmaceutical & biotechnology companies, the food & beverage industry, and hospitals & diagnostic laboratories, among other end users.
North America will continue to dominate the ATP assays market during the forecast period
By region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the ATP assays market. The large share of North America can be attributed to the rising incidence and prevalence of chronic and infectious diseases, rising demand for cell-based assays in research, increasing focus on cell-based therapeutics, favorable government support for research, and the presence of high-quality infrastructure for clinical & laboratory research in the region.
The prominent players in the global ATP assays 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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INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY
SOURCE: Research and Markets
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PUB: 11/06/2019 10:44 AM/DISC: 11/06/2019 10:44 AM