The study involved four major activities in estimating the current size of the ATP Assays Market. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets. The next step is to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the sizes of segments and sub segments.
Objectives of this Study
# To define, describe, segment, and forecast the ATP assays market based on product, application, end user, and region
# To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, and opportunities)
# To analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market
# To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market players
# To forecast the size of the market in five main regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
# To profile key players in the ATP assays market and comprehensively analyze their core competencies and market shares
# To track and analyze competitive developments such as mergers, acquisitions, collaborations, agreements, and partnerships reported by leading players in the market
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Recent Developments in the Global Industry:
# In March 2019, Promega launched the Water-Glo reagent, which uses bioluminescent technology to measure ATP and is used for monitoring microbial contamination in freshwater, process water, seawater, or wastewater samples.
# In August 2018, Hygiena acquired Biomedal’s Food Safety division. Under this acquisition, the new division will be named Hygiena Diagnóstica España and will provide allergen tests and assays in the market.
# In February 2018, Merck invested around USD 44 million (~EUR 40 million) for expanding its manufacturing and distribution centers in South Korea, India, and China.
# In August 2017, Hach (a subsidiary of Danaher Corporation) expanded its Loveland, US campus by inaugurating a new facility for R&D.
Key Questions Addressed by This Study:
# Which are the top 10 players operating in the ATP assays market?
# What are the drivers, restraints, opportunities, and challenges of the market?
# What are the prevailing industry trends, and what is the current scenario in the market?
# What are the growth trends in the market at the segmental and overall levels?
# How is the market performing in different regions across the globe?
Factors Influencing Global Growth:-
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.
# High Cost of Instruments
# Technology Enhancements in ATP Assay Probes
# Growth Prospects in Emerging Markets
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Monetary Growth Expectations, Globally:
According to the Research Study conducted by MarketsandMarkets™: 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% during the forecast period.
Geographical Growth Scenario:
Asia Pacific is expected to witness the highest growth in the ATP assays market from 2019 to 2024
The global ATP assays market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. During the forecast period, the Asia Pacific market is estimated to grow at the highest CAGR, as several countries are witnessing a growing number of proteomics, genomics, and stem cell research activities, increasing research funding, rising investments by pharmaceutical & biotechnology companies, and the growing trend of research infrastructure modernization.
Leading Market Players:
# Merck KGaA (Germany)
# Thermo Fisher Scientific, Inc. (US)
# PerkinElmer, Inc. (US)
# Lonza Group (Switzerland)
# Promega Corporation (US)
# Agilent Technologies, Inc. (US) and many more…
These players adopted various strategies such as partnerships, agreements, mergers, and acquisitions to expand their presence in the Global ATP Assays Market.