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. The global market growth is primarily attributed to the growing demand for advanced, high-performance ATP assays in the healthcare, pharmaceutical, biotechnology, and food & beverage sectors. The increasing prevalence of life-threatening diseases like cancer, the rapid spread of severely infectious diseases, such as the COVID-19 pandemic, and the growing occurrence of water-borne and food-borne illnesses are the other significant parameters accountable for the global ATP assays market’s steady growth. Moreover, the ever-increasing need for safer drugs and food products, fast-paced adoption of food contamination testing methods across various sectors, and the rising focus on laboratory hygiene have further stimulated the market growth.
ATP (adenosine triphosphate) is the primary energy source found in living organisms, and it helps efficiently determine cell viability. ATP assays are tests that detect the viability of cells while examining the overall microbiological content and accurately detecting bacterial and microbial growth. Bioluminescent ATP assays are the most widely used ATP tests and are more efficient than other methods, owing to their simplified process, higher sensitivity, homogeneous protocol, and rapid results. ATP assays are widely used in the life sciences and pharmaceutical sectors for the assessment of drug safety. Moreover, these tests find significant application in the food & beverage industry for determining food safety and hygiene. Stringent regulations for food & beverage manufacturing processes have led to an augmented need for food safety testing, thereby spurring the global ATP assays market growth. Furthermore, the rising number of clinical trials and increasing research collaborations among pharmaceutical companies and research institutes and universities boost global market development.
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.