According to the new market research report, "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", The global ATP assays market size is projected to reach USD 315 million by 2024 from USD 191 million in 2019, at a CAGR of 10.5%.
Browse and in-depth TOC on "ATP Assay Market"
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Growth Boosting Factors:
Growth in this 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.
The consumables & accessories segment accounted for the largest share of the market, by product, in 2018
Based on product, the market is segmented into consumables & accessories (reagents & kits, microplates, and others) and instruments (luminometers and spectrophotometers). The consumables & accessories segment accounted for the largest market share in 2018. The major factors driving market growth in this segment are the high utilization of ATP assays for microbial contamination testing in the healthcare industry and the growing applications of ATP assays.
Pharmaceutical & biotechnology companies: Largest end users of the ATP assay market
Based on end user, the market is segmented into pharmaceutical & biotechnology companies, food & beverage industry, hospitals & diagnostic laboratories, and academic & research institutions. The pharmaceutical & biotechnology companies segment accounted for the largest market share in 2018. The high adoption of ATP assays in pharmaceutical & biotechnology companies for contamination testing accounts for the large share of this segment. Furthermore, growth in the drug R&D pipeline will drive focus on quality control measures in the pharmaceutical and biotechnology industry and thereby support market growth.
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North America dominates the ATP assay industry
The global market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the market. The growth of the market in North America is mainly driven by increasing investments in cancer and stem cell research, increasing demand for technologically advanced instruments in research and diagnostic applications, and the high prevalence of chronic diseases coupled with the increasing demand for early and effective disease diagnosis and treatment. The favorable reimbursement policies, high disposable income, and the presence of superior healthcare and research infrastructure are also supporting market growth.
Key Market Players
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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