New York, March 17, 2021 (GLOBE NEWSWIRE) -- Market Size – USD 213.2 in 2020, Market Growth – at a CAGR of 10.5%, Market Trends – Rising demand for enhanced food & drug safety and efficacy
The global ATP assays market size is expected to reach USD 472.6 million by 2028 at a CAGR of 10.5%, according to a new report by Reports and Data. Increasing usage of ATP assays across various endues industries, including pharmaceutical, biotechnology, healthcare, and food & beverage industries, is pivotal for the growth of the global ATP assays market in the forthcoming years. The surging incidences of life-threatening chronic diseases, such as cancer, and the growing prevalence of infectious diseases, such as the ongoing coronavirus pandemic, have fueled the demand for safer and more effective drugs and led to more rigorous food and drug contamination testing. Hence, this is another driving factor for the global market.
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ATP (adenosine triphosphate) is the primary source of energy inherently present in all living organisms. ATP helps determine cell viability, and the higher its concentration results in an increased number of living cells. ATP assays detect cell viability and analyze the microbiological content in living organisms, effectively detecting the growth of bacteria and microbes. Bioluminescent, fluorescent, and colorimetric ATP assays are the commonly known detection methods. Bioluminescent ATP tests are the most efficient due to their higher sensitivity, simplified process, homogeneous protocol, and faster results. The healthcare and life sciences industries extensively use these tests to assess the safety of medicinal drugs. The food & beverage industry is another significant user of ATP assays, as it employs these tests to detect the safety and hygiene of food products.
The strict norms regarding food manufacturing, rising prevalence of food-borne and water-borne illnesses, increasing adulteration practices, and the surging need for food & drug safety testing have further bolstered the market growth. The deepening focus on laboratory hygiene, a significant rise in clinical trials, and increasing collaborations among academic & research institutes and leading healthcare companies create higher growth prospects for this market. However, the global ATP assays market growth is challenged by several disadvantages of rapid ATP bioluminescence assays. ATP bioluminescence assays often fail to distinguish ATP from microorganisms and prove non-sensitive for spore detection.
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Key Highlights of the Report:
- The consumables & accessories product segment is poised to dominate the global ATP assays market over the forecast timeframe in terms of revenue. The rising demand for high-performance ATP assays in the pharmaceutical, healthcare, and food & beverage sectors is a vital parameter for the growth of this segment.
- Among the various end-users, pharmaceutical & biotechnology companies are projected to lead the global market, accounting for the highest market share over the estimated period. The growing need for contamination testing across the pharmaceutical and biotechnology sectors, increased investments in drug development, and the increasing emphasis on drug quality & safety have fueled this segment’s growth.
- Among the leading regional markets, the North America ATP assays market held the highest revenue share in 2020 and is expected to maintain its market dominance throughout the forecast period. The avant-garde healthcare infrastructure of North America, the expanding pharmaceutical and food & beverage sectors, the rising prevalence of chronic diseases, and the surging incidences of contagious diseases are the crucial factors contributing to this market’s growth.
- The key market players include Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Merck KGaA, Promega Corporation, Danaher Corporation, Geno Technology, Inc., PerkinElmer, Inc., Abcam plc, Lonza Group, Elabscience, Hygiena, LLC, AAT Bioquest, MBL International Corporation, Abnova Corporation, BioThema AB, PromoCell GmbH, Canvax Biotech S.L., BioVision, Inc., Biotium, and Creative Bioarray.
- The American rapid diagnostic testing solutions provider, Quidel Corporation, inked a definitive agreement with the National Institutes of Health (NIH) in July 2020 under the U.S. government agency’s RADx-ATP (Rapid Acceleration of Diagnostics - Advanced Technology Platforms) program. According to Quidel, it intended to expand its manufacturing unit for COVID-19 diagnostic assays in San Diego through this collaboration.
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For the purpose of this report, the global ATP assays market has been segmented based on product type, application, end-user, and region:
By Product Type (Revenue, USD Million; 2018-2028)
- Instruments
- Luminometers
- Spectrophotometers
- Consumables & Accessories
- Reagents & Kits
- Microplates
- Others
By Application (Revenue, USD Million; 2018-2028)
- Disease Testing
- Contamination Testing
- Drug Discovery & Development
- Others
By End-user (Revenue, USD Million; 2018-2028)
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutions
- Hospitals & Diagnostic Laboratories
- Food & Beverage Industry
- Others
By Region (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of the Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of the Middle East & Africa
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