ATP Assay Market to Witness Major Revenue Growth by 2024

Research Methodology Used for ATP Assay Instruments Market Size:

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing & sales directors, technology & innovation directors, and related key executives from various key companies operating in the ATP assays market.

Secondary Research:

In the secondary research process, various secondary sources such as D&B Hoovers, Bloomberg Business, and Factiva have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, and databases.

The global ATP assay instruments market size is projected to reach USD 315 million by 2024 from USD 191 million in 2019, at a CAGR of 10.5%.

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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.

Objectives of the 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.

The consumables & accessories segment accounted for the largest share of the ATP assays market, by product, in 2018

Based on product, the ATP assay instruments market is segmented into consumables & accessories and instruments. The consumables & accessories segment accounted for the largest ATP assays market share in 2018. 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 the food & beverage industry and agriculture industry. The large share of this segment is also supported by the fact that the consumables such as kits & reagents, microplates, and swabs are purchased repeatedly as compared to instruments such as luminometers and spectrophotometers.

Key Questions Addressed in the Report:

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?

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Asia Pacific is expected to witness the highest growth in the ATP assays market from 2019 to 2024

The global ATP assay 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.

The major players adopted various strategies such as partnerships, agreements, mergers, and acquisitions to expand their presence in the global ATP assays market.

Prominent players in this market include Merck KGaA (Germany), Thermo Fisher Scientific, Inc. (US), PerkinElmer, Inc. (US), Lonza Group (Switzerland), Promega Corporation (US), Hygiena, LLC. (US), Agilent Technologies, Inc. (US), Abcam plc. (UK), Danaher Corporation (US), BioThema AB (Sweden), Abnova Corporation (Taiwan), AAT Bioquest (US), PromoCell GmbH (Germany), BioVision, Inc. (US), Biotium (US), Canvax Biotech S.L. (Spain), Creative Bioarray (US), Elabscience (US) and MBL International Corporation (US).