DUBLIN — According to a study by Research and Markets, the global ATP assays market is projected to reach $412 million by 2027, a compound annual growth rate of 8.4%.
The growth of this market, the study found, can largely be attributed to the increasing food safety concerns, growing demand for ATP assays in pharmaceutical and biotechnology companies, rising investments in pharmaceutical and biotechnology research and development, increasing prevalence of cancer and other chronic and infectious diseases and the shift from culture-based tests to rapid tests.
However, the study said, the high cost of instruments and inability to differentiate between extracellular and intracellular ATP is expected to restrain the growth of this market to a certain extent.
The consumables and accessories segment accounted for the largest share of the ATP assays, based on products in 2021. Based on products, the ATP assays market is segmented into consumables and accessories, and instruments. The large share of the consumables and accessories segment is attributed to the extensive usage of ATP assays in research institutes to measure cell viability, increase in drug discovery due to a surge in chronic diseases which requires tumor testing and cell proliferation (in cancer) and the repeated purchase of consumables by pharmaceutical and biotechnology companies.
Contamination testing accounted for the largest share of the market. The ATP assays market is segmented into contamination testing, disease testing and drug discovery and development. The large share of the contamination testing segment can be attributed to the rising regulatory stringency of pharmaceutical and food and beverage companies for non-contaminated production, an increase in drug discovery post-COVID-19, and the need for cleaning and disinfection of environmental surfaces in hospitals.