Rising demand for ATP assays in pharmaceutical and biotechnology companies
The global ATP assays market is projected to reach USD 315 million by 2024 from USD 191 million in 2019, at a CAGR of 10.5%. 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 breakup of primary participants is as mentioned below:
- By Company Type: Tier 1: 50%; Tier 2: 10%; and Tier 3: 40%
- By Designation: C-level: 35%; Director-level: 25%; and Others: 40%
- By Region: North America: 40%; Europe: 20%; Asia Pacific: 25%; Latin America: 10%; and the Middle East & Africa: 5%
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).
- 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 provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, recent developments, 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 greater share of the market.
- Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights into:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the ATP assays market. The report analyzes this market by product, application, end user, and region.
- Market Development: Comprehensive information on the lucrative emerging markets by product, application, end user, and region.
- Market Diversification: Exhaustive information about products, growing geographies, recent developments, and investments in the ATP assays market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of leading players in the ATP assays market.