The study involved four major activities in estimating the current size of the ATP Assay Procedure 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 subsegments.

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

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.

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Data Triangulation:

After arriving at the overall market size—using the ATP Assay Procedure Market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

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.

By end user, pharmaceutical & biotechnology companies accounted for the largest market share in 2018

Based on end user, the ATP assay market is segmented into pharmaceutical & biotechnology companies, the food & beverage industry, hospitals & diagnostic laboratories, and academic & research institutions. In 2018, the pharmaceutical & biotechnology companies segment accounted for the largest share of the market. ATP assays are emerging as preferred tools for screening potential drug compounds; therefore, many pharmaceutical and biotechnology companies are gradually replacing other in vitro and biochemical assays with cell-based assays, such as ATP assays, in drug discovery. Owing to the increasing adoption of cell-based assays, the use of ATP assay kits is also likely to increase in the coming years.

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

Based on product, the ATP Assay Procedure 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.

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Global Leaders:

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

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